A well-known crypto analyst believes that Bitcoin (BTC) could be worth millions of dollars within eight years, assuming people will continue to flock to the leading digital asset.
In a new YouTube video, the anonymous host of InvestAnswers tells its 444,000 YouTube subscribers that Bitcoin’s diminishing returns have historically offered five times less return with each cycle.
But the analyst also points to Metcalfe’s law, which states that a network increases in value as the number of users increases.
Assuming Bitcoin follows the line of internet and mobile adoption, the InvestAnswers host says that even the “conservative model” predicts BTC’s price to skyrocket by 2030.
“Not Hopium, just math, and we expect it to slow down, but the key takeaway here is if Metcalfe’s Law applies, under the conservative model, Bitcoin will hit $3.4 million by 2030. This may seem utterly impossible, utterly ridiculous, outlandish compared to where we are right now, but anyway, let’s dig deeper into what’s happening. Again, this is about adoption, it’s an arms race, it’s game theory, whatever you want to talk about it.”
Bitcoin is trading at $19,738 at the time of writing. that after market capitalization top-rated crypto asset is up almost 5% in the last 24 hours. A move towards the InvestAnswers target suggests over 17,125% upside potential for BTC in less than a decade.
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Source: Crypto News Deutsch