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Bitcoin Price Could Skyrocket to Trillions of Dollars in Five Years: Report

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Fri, 04/19/2019 - 17:00
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  • Two experts, who accurately called two Bitcoin bull runs, are now certain that Bitcoin is on the verge of its ‘Windows moment’

Cover image via 123rf.com
Contents

If John McAfee’s prediction about Bitcoin reaching $1 mln in 2015 seems too wild to be true, here’s another suggestion. In their recent report entitled ‘Bitcoin in Heavy Accumulation’, Tuur Demeester and Michiel Lescrauwaet, who accurately predicted two bull markets, claim that BTC could become a trillion-dollar asset in five years after reaching mass adoption.

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Fundamental drivers

The report states that the Lighting Network, which continued its rapid growth in 2019, will allow processing Bitcoin transactions per second. The current monthly growth of the LN is at 45 percent.     

The Bitcoin Lighting Network  
Lightning Network Growth’, image by bitcoinvisuals.com, Adamant Capital  

The fact that Bitcoin whales are accumulating their crypto riches while market volatility remains at bay also proves that Bitcoin could be poised for a major breakout.

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‘Windows moment’

In order to get an idea of what Bitcoin mass adoption could look like, the report draws a parallel with Windows, the product that made Microsoft the biggest company in the world by market capitalization in September 1998. The two researchers assume that Bitcoin could become a portfolio hedging instrument for investors while its merchant adoption will continue to grow.

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A bump in the road

Notably, their uber-bullish prediction doesn’t mean that Bitcoin’s path to mass adoption will be smooth. If the BTC price reaches another low, investors should merely treat it as another bump in the road.

“While lower prices are still possible, Bitcoin’s fundamentals are gaining momentum,” the report states.

Meanwhile, as reported by U.Today, UBS analyst Kevin Dennean claimed that it would take BTC up to 22 years to retest its current ATH of $20,000.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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