Re: Bitcoin valuation forecast for 2020-2060 from $10K to $100K: Is it reasonable?
In my humble estimation (based on my own scientific, engineering, economics education) as I am learning more about it, Bitcoin will reach valuation around $10,000 within 0-2 years (at the time of this writing it is already back up to around $8,000 rounding to the nearest thousand) and then will reach valuation $100,000 within 20-40 years and then $1,000,000 (each single Bitcoin) within 40-120 years of this year 2020.
Timing is really difficult to predict, but I'd still aim for a lot sooner. Here's why:
My theory is that Bitcoin is following a typical technology adoption life cycle. We are still in the "early market" phase. We haven't yet "jumped the chasm" towards mainstream adoption yet. Once we do, exponential adoption is going to meet extreme scarcity of supply. Under those conditions, million dollar valuations could come very soon, within the next decade (if only for a brief time during a bubble).