Harvard academic and bitcoin investor Dennis Porto believes that, given a few years, it will soar far higher than either of those predictions. In an interview with Business Insider UK, Porto explained that the bitcoin price could reach $100,000 per coin in February 2021 if it follows Moores Law, one of the so-called golden rules of digital technology.
According to Porto, rapidly growing technologies have a doubling time, meaning that their effectiveness doubles within a consistent, repeatable timeframe. Traditionally, Moores law has been applied to computing technology, but Porto says that the bitcoin price has thus far followed the trend by more or less doubling every eight months throughout its history.
Assuming bitcoin continues to follow this golden rule in the near-term, Porto anticipates the bitcoin price will extend beyond $100,000 by February 2021. Using the current BTC supply for simplicitys sake, this would give bitcoin a market cap of about $1.65 trillion. Needless to say, a $100,000 bitcoin price would thrill todays investors, assuming they have the fortitude to resist the temptation to sell them.
Source here (the full newsarticle). I am posting a part of this article here because I am sure that many would be excited to hear about this. So there is a basis for the doubling of value for Bitcoin and Mr. Porto refer to it as the Moore's Law. I am sure that many Bitcoin holders would be happy to know that in 2021 the value can be so high. This can embolden people to hold to their coin and to add more Bitcoin to their arsenal. Never give in to the temptation of selling since the present value is just actually the tip of the iceberg