New research suggests that the price of bitcoin could hit $397,000 in the year 2030 if the flagship cryptocurrency manages to penetrate 10% of its total addressable market.
According to researchers at the Crypto Research Report, the price of bitcoin will surge to $19,000 this year, and to $341,000 in 2025. By 2030, it will hit $397,727, and will subsequently endure a correction that takes it back to $395,000 in 2033.
Crypto Research Report’s researchers are, as such, expecting the flagship cryptocurrency’s price to surge 107% until the end of this year, as according to CryptoCompare data one bitcoin is currently changing hands for about $9,150. If BTC hits $397,000 in 2030, its price will have risen 4,230% in a decade.
The researchers predicted the future value of bitcoin using an umber of variables and its penetration of addressable markets, and did the same for ether, litecoin, bitcoin cash, and stellar. The researchers see ETH hit $331 this year, a 45% rise from current prices. By 2025 the second-largest cryptocurrency by market cap would be trading at $3,550 after rising 1,460%, and by 2030 it would be at $3,644.
This would mean BTC is set to significantly outperform ether over the next 10 years. In the last 12 months, BTC outperformed ETH, but not by much.
Source: CryptoCompare
The price of litecoin, a cryptocurrency often referred to as the silver to bitcoin’s gold, would go from its current $44 to $2,252 by 2030 while bitcoin cash, a cryptocurrency created through a fork of the original bitcoin blockchain, would move from its $235 to $3,000 by 2030. These two would surge roughly 5,000% and 5,400% respectively.
Stellar would, however, see the most gains as it’s expected to move from its current $0,07 price to $7.81 by 2030, an increase of over 11,000%. The researches got to these values looking at the tokens’ Target Addressable Market (TAM). The indicator estimates their future prices based on how they able to penetrate their markets, which include consumer loans, offshore accounts, online transactions, gaming, and more.
Crypto Research Report also found cryptocurrencies are being moved more within exchanges than on their blockchains, meaning trading is currently a bigger use case than a medium of transaction or store of value.
Notably, there are more bullish price predictions out there. Venture Capitalist and well-known bitcoin advocate Tim Draper, for example, has been standing by a $250,000 by 2023 bitcoin price prediction.
Featured image by Crypto Crow from Pexels
