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Bitcoin hitting $397K by 2030?

The new June report from Cryptocurrency Research Group predicts that the price of Bitcoin could approach almost 400K USD in the next decade and altcoins will be following the bullish behavior. Total addressable market(TAM) which is the calculation representing the overall revenue opportunity that includes remittance, tax evasion, offshore accounts, online transactions, crypto trading, consumer loans and so on for Bitcoin was considered on formulating this report.

In the June 2020 edition of the Crypto Research Report, researchers estimate that the price of Bitcoin(BTC) and other altcoins- Ether(ETH), Litecoin(LTC), Bitcoin Cash(BCH) and Stellar(XLM) will get a high increase before 2025, which might continue for next five years.

The report mentions that Bitcoin is still at the very early stage of its adoption curve. It states that the $7,200 which was the price of Bitcoin at the end of 2019 was 0.44% of its total addressable markets which is worth $212 trillion. If the surpass even takes upto 10%, it’s non-discounted utility price is estimated upto $400K.

Table: Equation of Exchange Forecast of Crypto Asset Prices
Current2020202520302033
Bitcoin$9,263$19,044$341,000$397,270$395,270
Ethereum$208$331$3,549$3,644$3,441
Litecoin$44$83$1,216$2,252$2,299
Bitcoin Cash$235$414$6,690$13,016$12,941
Stellar$0.07$0.09$2.40$7.81$8.26
Source: Crypto Research Report

The $397K is about 4000% price increase for BTC by 2030 but, ETH, LTC and BCH will also be looking on the rise alongside with 1600%, 5000% and 5400% respectively. XLM would be seen as the highest surge with almost 11000% from $0.07 to $7.81.  

In-chain and off-chain speed accountability

The report also accounts that the growth in the number of speculative transactions on exchanges is faster than the growth in transactions in the public sector for the purchase of goods and services. In-chain speed determines the transactions in blockchain while out-of-chain speed determines the business in crypto exchanges. It is also seen from the past that the price of cryptocurrency and it’s activity on exchanges rose at the same time.

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Santosh Thapa
Blockchain analyst
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