John McAfee hopefuls that anticipate the Bitcoin price to hit $1 million in the next ten years will be left disappointed, according to an alternative BTC forecasting model.
The popular stock-to-flow model predicts that the Bitcoin price would hit $1 trillion by 2050 according to cryptocurrency analyst Stephen Perrenod.
Over stock-to-flow, the analyst said that the Future Supply Model would be a more realistic model over the next several decades, and it suggests $1 million Bitcoin will not happen in the next ten years.
The Futures Supply Model, which takes into consideration the remaining supply of Bitcoin, places the Bitcoin price at $77,500 in the long-term, in an asymptotic manner.
In the long run, which could be ten years from now or 20 years, the Futures Supply Model predicts the market capitalization of bitcoin to be one-fifth of the market cap of gold.
While the model emphasizes the characteristics of Bitcoin as a store of value and its scarcity, it does not consider the rate of the U.S. dollar inflation.
At $1 million, the total market capitalization of Bitcoin hits $21 trillion.
PlanB, the creator of the Bitcoin Stock-to-Flow model, said that a $1 million target for Bitcoin is still on track.
The analyst previously said that bitcoin is en route to hitting $1 million by as early as 2025.Hal Finney: $100 trillion pic.
In the past ten years, the Bitcoin price increased by 9 million percent, leaving some of the optimistic investors hopeful for a multi-trillion dollar market cap in the next decade.
Analyst: Contrary to popular belief, $1 million Bitcoin won't happen in the next decade
Udgivet den Jan 27, 2020
by Cryptoslate | Udgivet den Coinage
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