{"id":426022,"date":"2020-06-03T10:00:26","date_gmt":"2020-06-03T10:00:26","guid":{"rendered":"https:\/\/uniquehot.com\/?p=426022"},"modified":"2024-06-11T12:48:56","modified_gmt":"2024-06-11T12:48:56","slug":"long-time-bitcoin-300k-5-years","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/long-time-bitcoin-300k-5-years\/","title":{"rendered":"Why a Long-Time Bitcoin Proponent Thinks BTC Will Rally Over 3,000% in 5 Years"},"content":{"rendered":"

Bitcoin<\/a> remains below the crucial resistances of $10,500 and $14,000 but that hasn’t stopped investors from speculating as to where BTC will top in the upcoming bull run.<\/p>\n

One prominent executive and programmer in the space is speculating that a price of $300,000 is possible within the next five years. Here’s why he thinks so.<\/p>\n

Why Bitcoin Could Hit $300,000 by 2025 According to a Long-Time BTC Proponent<\/strong><\/h2>\n

Speaking to Bloomberg on June 1st<\/a>, Blockstream CEO Adam Back says that he thinks Bitcoin will hit $300,000 within the next five years. This equates to a rally of around 3,050% from the current price.<\/p>\n

Back attributed this high prediction to the influx of investors hedging with Bitcoin, be that Paul Tudor Jones or retail investors like you or I. He added that with “a lot of money printing” going on in the world, BTC’s use case makes even more sense.<\/p>\n

Corroborating the $300,000 prediction is the famous Stock to Flow Model from analyst “PlanB,” a pseudonymous quantitative analyst that works as an institutional investor in Europe.<\/p>\n

His analysis found that the value of BTC can be tied to its level of scarcity. The more scarce Bitcoin is, the higher its fair value should be.<\/p>\n

PlanB plotted this relationship and found that by abstracting time from the model, he can fit a regression that has an R squared value of over 99%. The regression suggests that Bitcoin will reach a price of $288,000 within the next five or so years.<\/p>\n

\"Image
Image of a new iteration of the Stock to Flow Model from analyst PlanB. It predicts Bitcoin will reach $288,000 or so in the next era.<\/figcaption><\/figure>\n
Related Reading: Legendary Technical Analyst Says Bitcoin Investors Should Be \u201cCautious\u201d: Here\u2019s Why<\/a><\/h6>\n

$300,000 Might Even Be Too Low<\/strong><\/h2>\n

Although Bitcoin rallying to $300,000 would be accepted by any crypto investor, it may be too low of a prediction.<\/p>\n

There are analysts seriously considering that the leading cryptocurrency will reach well past $300,000 in the coming years due to macro trends.<\/p>\n

Raoul Pal is one of these analysts. The former head of Goldman Sachs’ hedge fund sales division and a noted macro analyst recently went on the “Keiser Report”<\/a> on RT to discuss this.<\/p>\n

During the interview, host Max Keiser asked Pal if he thinks Bitcoin has the potential to rival gold’s market capitalization of $9 trillion in the future.<\/p>\n

\n

\u201cIf it becomes an ecosystem, and we believe it will be and it will take the whole ecosystem with it as well, then yes, I think a $10 trillion number is easily achievable within that process,\u201d the current CEO of Real Vision said.<\/p>\n<\/blockquote>\n

<\/iframe><\/div>\n

A $10 trillion market capitalization corresponds with more than $500,000 per coin.<\/p>\n

Pal elaborated on his thesis in the April edition<\/a>\u00a0of\u00a0Global Macro Investor<\/a> \u2014 the research business he runs with a business partner.<\/p>\n

Bitcoin is likely to erupt higher in the coming years because due to the ongoing recession, there\u00a0is a risk \u201cof the failure of our very system of money\u201d or at least a collapse of the \u201ccurrent financial architecture.\u201d<\/p>\n

To him, cryptocurrencies such as Bitcoin are a way out of that system and may act as the predicate on which the next system is built upon. Pal said on Bitcoin in particular:<\/p>\n

\u201cIt is an entire trusted, verified, secure, financial and accounting system of digital value. [\u2026] It is nothing short of the future of our entire medium of exchange system, and of money itself and the platform on which it operates.\u201d<\/p><\/blockquote>\n

Related Reading: Crypto Tidbits: Bitcoin Nears $10k, Goldman Sachs Talks Cryptocurrency, Chinese Yuan Slumps<\/a><\/h6>\n
Featured Image from Shutterstock\r\nPrice tags: xbtusd, btcusd, btcusdt<\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin remains below the crucial resistances of $10,500 and $14,000 but that hasn’t stopped investors from speculating as to where BTC will top in the upcoming bull run. One prominent executive and programmer in the space is speculating that a price of $300,000 is possible within the next five years. Here’s why he thinks so. Why Bitcoin Could Hit $300,000 by 2025 According to a Long-Time BTC Proponent Speaking to Bloomberg on June 1st, Blockstream CEO Adam Back says that he thinks Bitcoin will hit $300,000 within the next five years. This equates to a rally of around 3,050% from the current price. Back attributed this high prediction to the influx of investors hedging with Bitcoin, be that Paul Tudor Jones or retail investors like you or I. He added that with “a lot of money printing” going on in the world, BTC’s use case makes even more sense. Corroborating the $300,000 prediction is the famous Stock to Flow Model from analyst “PlanB,” a pseudonymous quantitative analyst that works as an institutional investor in Europe. His analysis found that the value of BTC can be tied to its level of scarcity. The more scarce Bitcoin is, the higher its fair value should be. PlanB plotted this relationship and found that by abstracting time from the model, he can fit a regression that has an R squared value of over 99%. The regression suggests that Bitcoin will reach a price of $288,000 within the next five or so years. Related Reading: Legendary Technical Analyst Says Bitcoin Investors Should Be \u201cCautious\u201d: Here\u2019s Why $300,000 Might Even Be Too Low Although Bitcoin rallying to $300,000 would be accepted by any crypto investor, it may be too low of a prediction. There are analysts seriously considering that the leading cryptocurrency will reach well past $300,000 in the coming years due to macro trends. Raoul Pal is one of these analysts. The former head of Goldman Sachs’ hedge fund sales division and a noted macro analyst recently went on the “Keiser Report” on RT to discuss this. During the interview, host Max Keiser asked Pal if he thinks Bitcoin has the potential to rival gold’s market capitalization of $9 trillion in the future. \u201cIf it becomes an ecosystem, and we believe it will be and it will take the whole ecosystem with it as well, then yes, I think a $10 trillion number is easily achievable within that process,\u201d the current CEO of Real Vision said. A $10 trillion market capitalization corresponds with more than $500,000 per coin. Pal elaborated on his thesis in the April edition\u00a0of\u00a0Global Macro Investor \u2014 the research business he runs with a business partner. Bitcoin is likely to erupt higher in the coming years because due to the ongoing recession, there\u00a0is a risk \u201cof the failure of our very system of money\u201d or at least a collapse of the \u201ccurrent financial architecture.\u201d To him, cryptocurrencies such as Bitcoin are a way out of that system and may act as the predicate on which the next system is built upon. Pal said on Bitcoin in particular: \u201cIt is an entire trusted, verified, secure, financial and accounting system of digital value. [\u2026] It is nothing short of the future of our entire medium of exchange system, and of money itself and the platform on which it operates.\u201d Related Reading: Crypto Tidbits: Bitcoin Nears $10k, Goldman Sachs Talks Cryptocurrency, Chinese Yuan Slumps Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt<\/p>\n","protected":false},"author":497,"featured_media":426026,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[5481,679,1144,78790,4078,76835],"class_list":["post-426022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-adam-back","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-technical-analysis","tag-xbtusd"],"acf":[],"yoast_head":"\nWhy a Long-Time Bitcoin Proponent Thinks BTC Will Rally Over 3,000% in 5 Years<\/title>\n<meta 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