Darryn Pollock

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

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’

 

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.

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