Bitcoin (BTC) may face a wave of appreciation capable of making the cryptomoney reach $50,000 in the market. According to analysts quoted by Forbes, an increase in asset capitalization in general would be responsible for this new price surge next year.
Bitcoin’s market value must reach $1 trillion for the cryptomone currency to trade at $50,000. However, this growth will only be possible after a large adoption of the asset as a store of value.
The forecast also shows a future correlation between Bitcoin and gold, where cryptomone could be responsible for a share of the precious metal investment market, which is currently worth $9 trillion.
The price of Bitcoin can be as high as $50,000
Bitcoin’s capitalization should increase considerably so that the price of cryptomoney can reach 50 thousand dollars, reaching 1 trillion dollars.
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According to expert Chris Burniske, if Bitcoin repeats the volatility it has experienced in the market in recent years, the price of the asset will soon be quoted at $50,000.
Burniske is a partner of PlaceHolder and bets on a valuation based on price volatility. According to the expert, to reach 50 thousand dollars the price of Bitcoin needs a volatility of only 50%.
„Why Bitcoin at more than $50,000? If the BTC price is 50% as volatile in this cycle as it was in the last, we still expect it to exceed $50,000 and $1 trillion in network value“.
The cryptomoney will not die
James Wang reinforces Bitcoin’s capitalization growth forecast of up to $1 trillion over the next few years. As the Ark Invest analyst said, cryptomoney should not die in the face of a market that has more than 10,000 assets.
For the analyst, the market value of Bitcoin Trader will be $800 billion as the market grows against gold over the long term.
Wang’s forecast published on Twitter considers the transfer of only 15% of the total market value of the precious metal to digital assets.
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So, the price of Bitcoin could be $38,095, looking at 15% of the current $9 trillion gold capitalization, or even more.
„In a world of 10,000 crypto currencies, Bitcoin simply refuses to die. Perhaps his unique combination of technical networks and „beliefs“ will give him some lasting value.“