A research team identified as the Crypto Research Team recently released a report that predicts extremely high levels for Bitcoin and altcoins. They expect their forecast to come true in the next 10 years.
Bitcoin (BTC) $ 397K
The results have been heavily influenced by the critical analysis of a metric that was consulted to determine the future price cryptocurrency forecast called “Target Addressable Market (TAM)”. The Target Addressable Market for cryptocurrencies used by the research group includes tax evasion, value store, online transaction, remittance, micro payments, reserve currency, online crypto trading, online gambling, offshore accounts, consumer loans and others.
According to the results of its analysis, Bitcoin has favorable conditions for running a huge bull run, which will send its price up to $ 397 thousand. The report estimates that Bitcoin only penetrates 0.44% of the addressable market. Bitcoin is currently at the beginning of the adoption curve. Therefore, the digital asset is likely to reach $ 400,000 when it reaches about 10 of the total addressable market.
Altcoins Will Follow Bitcoin
For this reason, Bitcoin is expected to trade at an excessive price by 2025 before moving on to the price point specified in 2030. While the expected expansion of adoption rate will cause Bitcoin to increase 4000%, Ethereum will increase 1600%, Litecoin 5000% and Bitcoin Cash to increase 5400% by 2030.
Bitcoin price will also be affected by the main driving force of the cryptocurrency and speculation, which is the price determiner. Bitcoin price is currently floating in the $ 9,500 price zone and seems to have completely recovered the purge recorded in the first quarter of the year.
The half-impact effect in May and the possible impact of whales on market speculation make the price estimate of $ 397,000 quite accessible within the next 10 years. In anticipation of the price increase, speculation will once again direct the Bitcoin price to the moon. When this happens, altcoins will mostly follow this trend, based on the Bitcoin price to determine their next direction of movement.