The leading cryptocurrency Bitcoin [BTC] expected to hit a $1 trillion market capitalization by the year 2025 is “conservative” and those levels should hit in less than two years.
Back was responding to a report by Yassine Elmandjra, a cryptocurrency asset analyst at investment adviser ARK, who in September forecast a Bitcoin market capitalization of $1–5 trillion by 2030 at the newest.
ARK is documented for its enthusiastic price forecasts for Tesla stock, which saw an almost unbelievable rise within this year.
“Conservative. I’d say #bitcoin likely sees $1 trillion market cap within 2 years, probably sooner. $1 trillion is about BTC $50k,” he added.
As of Oct. this year, Bitcoin’s market capitalization is already over $198 Bln. For Back’s prognosis to return true, the market would wish to ascertain a 400% increase by 2022.
For example, at the beginning of October two years ago earlier in the year 2018, the figure stood at $114 Bln. BTC/USD traded at $6,600 USD, two months before the bottom of its bearish market that bottomed out at $3,100 USD.
Bitcoin Prediction For Upcoming 2 Years
Additional responses to ARK included on-chain data resource econometrics, that highlighted a $2 trillion Bitcoin market capitalization as adequate to that of Apple.
BTC/USD pair would trade at $100k under such circumstances, while to equal gold, the pair would wish to touch $500k.
As reported earlier, Bitcoin price activity is presently far more subdued, with analysts expecting more sideways action to characterize the rest of the year.
At the same time, anticipation is building over BTC/USD abandoning its correlation to traditional macro assets and rising in line with historical behavior – especially centered on predictions from the stock-to-flow price-prediction models.
Stock-to-flow calls for a mean price of $288k within the present halving cycle, that began earlier in May and can last until 2024.