Bitcoin Mind-Blowing Prediction: BTC To Reach $1 Million
There have been a lot of bullish predictions regarding the price of BTC these days, but this most recent one is pretty bold.
BTC’s future bottom will be $100,000
The Daily Hodl reveals that crypto influencers share brand new analysis which shows that $100k will be BTC’s new bottom by 2028.
It’s been reported that ShapeShift CEO Erik Voorhees posted the new analysis on Twitter.
This uses the “power law” distribution model in order to track BTC’s potential trajectory in the years to come.
The online publication mentioned above reveals that starting back in 2012, this model compares the relationship between BTC’s “normal” price and the “bull” price as well by creating two corridors.
— Erik Voorhees (@ErikVoorhees) September 5, 2019
Someone commented, “Might be irresponsible to not have 5-10% exposure to this asset class on a long time horizon.”
The same Twitter user said: “It’s a probabilistic approach. If there is any merit to this sort of analysis, minor exposure (e.g.: 5-10% net worth) has log-scale, asymmetric upside. You may stand to lose 5-10%, but you may stand to gain 50-100X.”
Analyst Harold Christopher Burger compared the relationship between these two bands and says the numbers show BTC will hit $100,000 no sooner than 2021 and no later than 2028.
BTC is poised to reach $1 million
He continues and says that after that, BTC will hit $1 million:
“After 2028, the price will never drop below $100,000. The price will reach $1,000,000 per Bitcoin no earlier than 2028 and no later than 2037. After 2037, the price will never drop below $1,000,000.”
At the moment of writing this article, BTC is trading in the green on CMC and the coin is priced at $10,740.
In other news, the most popular crypto analyst on YouTube said that BTC is definitely about to go back to its all-time high of $20k.
During a new episode of DataDash, Nicholas Merten said that the 21-week moving average is reportedly matching up with the price of the most important coin in the market.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.