Re: Bitcoin $250000 by 2020 if the seven year trend continues
BitGo Software Engineer Jameson Lopp revealed that if the seven-year trend of Bitcoin price continues, Bitcoin will be valued at around $250,000 by 2020.
Lopp calculated the seven-year trend of Bitcoin price based on daily value change. With the exception of 2014, which was affected by the downfall of now-defunct Mt. Gox, Bitcoin has continuously recorded positive daily value change since 2010.
Bitcoin average DAILY value change:
2010: +0.82%
2011: +0.76%
2012: +0.26%
2013: +1.11%
2014: -0.25%
2015: +0.09%
2016: +0.22%
2017: +0.66%
https://cointelegraph.com/news/bitcoin-price-will-hit-250000-by-2020-if-seven-year-trend-continues
I have also try to analyze bitcoin price movement in this way and using this year as my area of focus, I find out that bitcoin double in price every quarter through out this year and if this continue then I expect bitcoin to be more than $250,000 by 2020. We have has significant price movement this year alone and I believe 2018 will show us more significant improvement and we would keep moving up until price get to $500,000.Lopp calculated the seven-year trend of Bitcoin price based on daily value change. With the exception of 2014, which was affected by the downfall of now-defunct Mt. Gox, Bitcoin has continuously recorded positive daily value change since 2010.
Bitcoin average DAILY value change:
2010: +0.82%
2011: +0.76%
2012: +0.26%
2013: +1.11%
2014: -0.25%
2015: +0.09%
2016: +0.22%
2017: +0.66%
https://cointelegraph.com/news/bitcoin-price-will-hit-250000-by-2020-if-seven-year-trend-continues