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
The math make seems like it makes sense, but when applied to the real world where there are limitations such as political pressure, adoption, altcoins competing with bitcoin and fiat currencies competing with bitcoin then it is very easy to see that the math does not make sense, I would say that even reaching 10% of that is going to be almost impossible in that time frame.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