Timothy Peterson has forecasted that Bitcoin will reach $10 million in our lifetimes
Such a future value is why governments and banks are against BTC
Bitcoin will reach this peak value in the next 15 to 30 years
His analysis is based on the assumption that Bitcoin follows an adoption curve similar to the internet’s
It also assumes minimal negative events to affect the price of Bitcoin
Bitcoin and Crypto analyst, Timothy Peterson, of Cane Island Alternative Advisors, has forecasted that Bitcoin could reach $10 million in our lifetimes. According to his analysis, this puts Bitcoin’s reserves at almost two times the current global market thus explaining why so many governments and banks are pushing back against BTC.
Mr. Peterson shared his analysis of Bitcoin through the following tweet and accompanying chart.
The research note goes on to explain that Bitcoin’s maximum price will likely be between $1 Million and $10 million and take roughly 15 to 30 years to achieve. His analysis is based on the assumption that Bitcoin’s adoption curve will follow a path similar to that of the internet and that there will be no significant negative events to alter the value of the Bitcoin network.
His research note goes on to summarize Bitcoin’s future value as follows.
Bitcoin’s current adoption rate indicates a future value of between $1 – $10 million, and likely between $3 – $6 million, by 2050.
This value is based on the assumption that bitcoin is a technology that follows a diffusion function; that the diffusion function is a Gompertz curve; and that bitcoin’s future adoption curve will closely follow the historical adoption curve of the internet.
However, the actual price path that bitcoin may follow is inherently unpredictable in the short term and subject to several practical constraints.