cryptodailytrading.com

Bitcoin’s Market Cap Could Slump to $77 Bln by Year End According to ‘Metcalfe’s Law’

  • Darryn Pollock
    📰 News

    Swiss researchers using ‘Metcalfe’s Law’ predict that Bitcoin’s market cap still has a way to go down


Bitcoin’s Market Cap Could Slump to $77 Bln by Year End According to ‘Metcalfe’s Law’
You may also like:

 

Swiss researchers have identified that the slowing of Bitcoin’s growth in terms of market capitalization could indicate that it has a long way to drop still before the end of the year. By using Metcalfe’s law, which states a network is proportional to the square of the number of users of the system.

According to the researchers, Bitcoin’s market capitalization could go down to as low as $77 bln by the end of the year. Currently, Bitcoin’s capitalization is at around $118 bln, so, if this was to come to fruition, it would indicate a $41 bln decline or 35 percent.


"Looking forward, our analysis identifies a substantial but not unprecedented overvaluation in Bitcoin price, suggesting many months of volatile sideways Bitcoin prices ahead," the Swiss researchers said.

👉MUST READ Verge Locks in Mystery Partnership Thanks to Donations, Sees a Spike in Price
Verge Locks in Mystery Partnership Thanks to Donations, Sees a Spike in Price

Cover image via u.today
In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.
👓 Recommended articles