Price predictions for bitcoin are usually met with a lot of skepticism, which is more noticeable when the figures are ridiculous by today’s standards. A million-dollar BTC is not beyond the realms of possibility but it is still a long way off.
Bitcoin Price at $1 Million by 2038?
Looking at historical cycles is a good way to make predictions on future ones. The caveat is that BTC is only a decade old so we don’t really have a great deal of data to go on.
In his latest video, analyst Benjamin Cowen has extrapolated data from the bitcoin logarithmic regression model to attempt a realistic prediction as to when prices will reach seven figures.
A ton of people have been asking me to extend the $BTC logarithmic regression model to estimate when #Bitcoin can reach 1M. Here it is! Check out the video where I discuss this chart!https://t.co/lgCbPGf6Lb pic.twitter.com/ieFfAqbWIY
— intothecryptoverse (@intocryptoverse) December 31, 2019
The first primary assumption is that market cycles are getting longer with the first peak to peak taking…