A new general report on the future of Bitcoin finds that the leading cryptocurrency could rise to $ 397,000, but it won’t happen overnight.
The latest analysis from the Liechtenstein-based crypto research report, led by former cryptocurrency fund manager and Forbes 30 under 30 members, Demelza Hays, assesses BTC based on its Addressable Target Market (TAM). The term is used to describe the general income opportunity for a given product or service.
The report assumes that the use of Bitcoin as a currency will outshine alternative currencies like Ethereum, Bitcoin Cash, and Litecoin in the long term, and analysts at the firm say BTC is likely to be at the beginning of its adoption curve, with a large bullish potential in the decade to come.
The firm says its analysis is based on modest assumptions of market penetration, which means that the cryptocurrency will penetrate 10% of the entire target market, which includes deposit of value, remittances, deposits abroad, games, online gambling, unbanked financial services, loans, micropayments, crypto trading and more.
“The target market for crypto assets is approximately $ 212 trillion. Major use cases include a medium of exchange that includes all global fiat currencies worth $ 126 trillion and consumer loans worth $ 42 trillion global.
If Bitcoin were to penetrate 10% of this market in the next ten years, each Bitcoin would be worth $ 397,000 by 2030. “
The report also looks at Bitcoin’s transaction speed, the state of privacy coins, and Tether’s impact on BTC price.
Looking at the altcoin market, analysts at the firm analyze the potential prices of four leading crypto assets in the next decade, forecasting that Ethereum could hit $ 3,644 by 2030. The report shows that Litecoin is aiming for $ 2,252, Bitcoin Cash is aiming for $ 13,016 and Stellar points to $ 7.81 in the same time frame.
