Sweeping Crypto Report Predicts Bitcoin Rise to $397,000 | BTC Roaring Toward Exponential Bull Run

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$397K Bitcoin Price

➡️ Teeka Tiwari – Investment of the Decade:  http://2020.cryptonewsalerts.net

A sweeping new crypto report on the future of Bitcoin predicts the BTC price could rise to $397,000 – but it won’t happen overnight.

The latest analysis from the Liechtenstein-based Crypto Research Report, led by former cryptocurrency fund manager and Forbes 30 under 30 member Demelza Hays, assesses BTC based on its target addressable market (TAM).

The term is used to describe the overall revenue opportunity for a given product or service.

The report assumes Bitcoin’s use as a currency will outshine altcoins such as Ethereum, Bitcoin Cash, and Litecoin in the long run, and the firm’s analysts say BTC is likely at the very start of its adoption curve, with major upside potential in the decade to come.

The firm says its analysis is based on modest market penetration assumptions, meaning the cryptocurrency will penetrate 10% of the entire target addressable market, which includes store of value, remittance, offshore deposits, gaming, online gambling, unbanked financial services, lending, micropayments, crypto trading, and more.

“The target addressable market for crypto assets is approximately $212 trillion. The largest use cases include medium of exchange including all global fiat currencies worth $126 trillion and consumer loans with a global value of $42 trillion. If Bitcoin penetrated 10% of this market over the next ten years, each Bitcoin would be worth $397,000 in 2030.”

The report also analyzes Bitcoin’s transaction velocity, the state of privacy coins, and Tether’s impact on the price of BTC.

As for the altcoin market, the firm’s analysts look at the potential prices of four leading crypto assets over the next decade, forecasting Ethereum could hit $3,644 by 2030.

The report shows Litecoin targeting $2,252, Bitcoin Cash aiming at $13,016, and Stellar targeting $7.81 in the same time frame.

In other trending Bitcoin News today:

Bitcoin (BTC) Roaring Toward Exponential Bull Run, Says On-Chain Analyst Willy Woo

Crypto strategist and influencer Willy Woo says Bitcoin is ready to launch its next exponential bull.

In a viral tweet, Woo tells his 132,000 Twitter followers that the king cryptocurrency was primed to ignite a bullish onslaught in March until Covid-19 “killed the party.”

But the on-chain analyst’s new model, which signals the possible start of a new bull cycle, suggests that BTC may begin another bull run in July.

“This is a new model I’m working on, it picks the start of exponential bull runs.

1) Bitcoin was setting up for a bullish run until the COVID white swan killed the party.

2) This model suggests we are close to another bullish run. Maybe another month to go.”

Woo says the bull market delay brought about by the pandemic will turn out to be a welcome development for the largest cryptocurrency.

He says the long base-building process is serving as rocket fuel for BTC. “The longer this bull market takes to wind up, the higher the peak price (Top Cap model). A long sideways accumulation band is ultimately a good thing.”

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

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