A crypto research platform, Crypto Research Report, has predicted that the price of Bitcoin will reach about $397,000 within the next 10 years.
In its latest report, Crypto Research Report predicted that the king coin and other altcoins will enjoy a bullish outlook within the next decade. Leading the pack, as expected, will be Bitcoin going as high as about $400,000.
Particularly, the report mentions altcoins including Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and Stellar (XLM).
The report suggests that Bitcoin and the aforementioned altcoins will experience a major growth from 2025. Bitcoin (BTC) will skyrocket by almost 4,000% while Bitcoin Cash (BCH), Litecoin (LTC), and Stellar (XLM) will increase by about 1,600%, 5,400%, and 5,000%, and 11,000% respectively.
At the time of the report, BTC was priced at $9,263. The researchers “believe that Bitcoin is still at the very start of its adoption curve.” They said BTC should reach $400,000 around 2030, with a market penetration of 10%.
Regarding blockchain transactions, the report implied that people use crypto for speculations more than for storing value. It stated that the “growth in the number of speculative transactions on exchanges is faster than [the] growth of utility transactions to buy goods and services.”
While this forecast is more long-term, popular analyst Tone Vays has said that Bitcoin will stay under $10,000 till the end of 2020.
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