Bitcoin Will Rise To $397,000 – Here’s The Timeframe
The crypto market looks great today with most of the coins trading in the green.
Bitcoin is no exception, and at the moment of writing this article, the king coin is priced at $9,147.40.
Bitcoin to rise at $397k
There’s a new report on the future of Bitcoin which says that the king coin could rise to $397k.
The latest analysis from Crypto Research Report that’s led by the former crypto fund manager and Forbes 30 under 30 member Demelza Hays assesses BTC based on the target addressable market (TAM).
The term is used to describe the overall revenue opportunity for a given product or service.
According to the online publication the Daily Hodl, the report assumes “Bitcoin’s use as a currency will outshine altcoins such as Ethereum, Bitcoin Cash, and Litecoin in the long run.”
More than that, it’s been revealed that the firm’s analysts say BTC is likely at the very start of its adoption curve, and there’s a massive upside potential in the decade to come.
The firm also said that its analysis is based on modest market penetration assumptions.
In other words, this means that the king coin “will penetrate 10% of the entire target addressable market, which includes store of value, remittance, offshore deposits, gaming, online gambling, unbanked financial services, lending, micropayments, crypto trading, and more.”
BTC could reach $397k by 2030
Here’s what the official notes explain: “The target addressable market for crypto assets is approximately $212 trillion. The largest use cases include medium of exchange including all global fiat currencies worth $126 trillion and consumer loans with a global value of $42 trillion.”
According to the same report, if BTC penetrated 10% of this market in the next decade, each Bitcoin would be worth $397,000 in 2030.”
The same report also addressed the transaction velocity of BTC, the coins’ privacy, and the impact that UDST has on the price of BTC.
We recommend that you check out the complete report in order to learn all the details.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.