A New Study Gives an Optimistic Predictions for the Bitcoin Price
According to a new study conducted by the consulting company Satis Group (ICO) First Coin Offering (ICO), the cost of the bitcoin (BTC) can reach $98 thousand in the next five years. This study was conducted by Sherwin Dowlath and Michael Hodapp.
The published report says that, in terms of growth trends, in the next five years, the bitcoin should reach almost $100 thousand in its value. Analysts also forecasted such cryptocurrency assets as Monero (XMR) and Decred (DCR). Their cost should increase to 18 thousand dollars and 535 dollars, respectively.
At the same time it is expected that bitcoin cash (BCH) should fall in price to $268. Ripple (XMR), according to experts of the cryptocurrency market, is unlikely to be promising and its price will be at the level of $0.01. The research team also gave a forecast for Ethereum. In their opinion, by 2028, the asset will lose half of its value.
The report reads as follows:
“While we do acknowledge the strong community around the ETH network, minor flaws in design and governance (which we believe will result in contention leading up to the future network upgrades, notably the move to Proof-of-Stake (PoS) consensus) can expose the relatively low switching costs of overlying networks built on top of it (the ICO’s, and tokens).”
The conducted research also allows to expand the evaluation of the cryptocurrency analyzes necessary to support the forecasted economy and allows to assess the state of the market for the next ten years.
According to the report, the value of cryptocurrencies, which are necessary to support economic stability, can increase to about $500 billion next year and up to $3.6 trillion by 2028. In turn, 90% of the cost will be extracted from the penetration of offshore deposits in the next decade.
The report says that the most fundamental value for supporting the cryptocurrency economy comes from their storage of value-use options.
“Currently, the vast majority of the total cryptoasset market capitalization is held in traditional store of value markets, with offshore deposits accounting for nearly 40 percent of the total. Despite TAM (total addressable market) growth residing in [computing, storage, and lending], the necessary cryptoasset market capitalization needed to support usage of those economies falls once adjusted for higher velocity. As a result, cryptoasset market capitalization growth is primarily from increased store of value use case penetration.”
A study conducted this month by Sanford C. Bernstein & Co showed that the revenue from the crypto exchange trading platforms could double and reach $4 billion in 2018.