As quoted by an analyst from the article (Source mentioned below)
"Currently, the vast majority of the total cryptoasset market capitalization is held in traditional store of value markets, with offshore deposits accounting for nearly 40% of the total," they stated in the report.
Going forward, growth in this market capitalization will come "primarily from increased store of value use case penetration," the analysts claimed.
Further, they predicted that as custody solutions "come online," the "penetration" of offshore deposits will increase "dramatically."
Adding to this I personally find it a possiblity due to the recent reports as mentioned below1. A dealership in Houston Texas accepting bitcoins for the purchase of Rolls Royce cars
2. Goldman Sachs CFO says bank is working on bitcoin derivative for clients
3. Major Japanese Department Store Chain Marui Accepts BitcoinGoldman Sachs cryptoasset market capitalization plans seem to be
inline with the analysts
claims.
Maybe it is hard to predict the exact value of bitcoins in the next 5 years
but these are major player adopting bitcoins which will contribute significantly towards the
growth and adoption rate of bitcoins.
Is the prediction over bullish in your opinion ?Source:https://www.forbes.com/sites/cbovaird/2018/09/10/will-bitcoin-reach-96000-by-2023/#79d5b93237dcWhile I love to see bitcoins prices go up I prefer to be realistic, and currently this looks more like a marketing gimmick to me. If you're seeing at current levels I would keep it under 50k as a realistic target for the next 5 years, maybe it can cross higher, but it'll need major announcements like bitcoins etf being accepted, USA accepting it as a legal tender, or most of the global countries accepting it.