Saxo Bank analyst predicts Bitcoin price of $100,000 in 10 years based on average daily volume (ADV) required to support currency trade

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Kay Van-Petersen, who predicted last December that the Bitcoin price would rise to $2,000 in 2017 (it was $754 at the time), used the following rational to calculate potential price of Bitcoin in 10 years:

Average daily volumes (ADV) of foreign currency exchange is currently just over $5 trillion (according to the Bank for International Settlements).

Cryptocurrencies could account for 10{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8}, or $500 billion of that ADV in 10 years.

Ten percent of $5 trillion is $500 billion.

Bitcoin could have 35{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8} of the cryptocurrency share of ADV – or $175 billion.

Market capitalization to support $175 billion daily exchange would be $1.75 trillion (10X times the average daily volume).

Divide $1.75 trillion by the projected 17 million Bitcoins expected to be in circulation 10 years from now and you arrive a price of just over $100,000.

Full story: http://www.cnbc.com/2017/05/31/bitcoin-price-forecast-hit-100000-in-10-years.html

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Kryptous

Crypto Coins News - Ratings - Reviews

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Ticker

1 BTC = $39665.55 USD  (via Coinbase)
1 ETH = $2691.01 USD  (via Coinbase)
1 LTC = $143.80 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

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