Bitcoin Could Reach $98k According To A New Study

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Bitcoin (BTC) could reach $98,000 in the next 5 years, according to a new study. The study was conducted by an advisory firm Satis Group.

According to the researchers, Bitcoin will reach $96k and Monero (XRM) will reach $18k over the next 5 years.

The overall crypto-market is going to reach $500 billion next year and will grow to $3.6 trillion by 2028. The study claims that the “most fundamental value will stem from store of value use cases”

“Currently, the vast majority of the total cryptoasset market capitalization is held in traditional store of value markets, with offshore deposits accounting for nearly 40 percent of the total.  Despite TAM (total addressable market) growth residing in [computing, storage, and lending], the necessary cryptoasset market capitalization needed to support usage of those economies falls once adjusted for higher velocity. As a result, cryptoasset market capitalization growth is primarily from increased store of value use case penetration.”

Some will fall

The researchers suggest that Bitcoin Cash (BCH) will fall to $268, while Ripple (XRP) will reach a price of $0.01. Other centralised cryptocurrencies will also represent little value.

The team behind the study also predicts that Ethereum (ETH) “platform network” will lose share “from nearly entire share to half share in 2028”:

“While we do acknowledge the strong community around the ETH network, minor flaws in design and governance (which we believe will result in contention leading up to the future network upgrades, notably the move to Proof-of-Stake consensus) can expose the relatively low switching costs of overlying networks built on top of it (the ICO’s, and tokens).”

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