One of the big questions regarding bitcoin is the price of the asset. Although no one can know at what price BTC will trade in the next minute, there are not a few who venture predictions and reason based on technical, fundamental, etc. arguments. This time it is a youtuber who proposes a much higher price for bitcoin in about eight years, will it stay close to the real price by 2030?
Lark Davis is a youtuber with more than 488 thousand followers on the Google video platform where he talks mostly about cryptocurrencies. In a recent video he has theorized about the possibilities that Bitcoin has to revalue up to one million dollars by 2030. Is such a rise in price possible? We present some of the influencer’s arguments below.
A possible rise of BTC to one million dollars
While such a notable price rise would not be easy, we have already seen BTC value multipliers that would take it even further from the prices where it currently stands. In any case, the arguments that Lark exposes are several, among them the following:
The bitcoin price model, which is based on a balance between the amount of the asset available at all times, that is, the supply limited to the BTC mined and available in the market against the demand. At more demand, if the offer is low, the price rises, and vice versa.
Lightning Network, which is the solution in the Bitcoin blockchain that allows you to send BTC for a low gas cost, that is, it enables small transactions at a more balanced cost than before. This development is critical to driving the mass adoption of bitcoin.
Bitcoin ETFs, exchange-traded funds in which there is a significant amount of money leveraged to the index and allow the participation of users approved by brokers. Although at the moment there are few ETFs in existence, they are being noticed and every time one of them has started operations, a positive effect on the price has been seen. More ETFs are expected to start trading in the future.
The adoption of countries, the first being El Salvador, and according to recent news it appears to be the Central African Republic next. We could see several more countries with BTC as legal tender by 2030, with the accompanying injection of institutional capital and increased market capitalization.
The Bitcoin Scarcity It is another factor that favors the rise in price since there may only be 21 million BTC in circulation.
An asset that appreciates over time
In its short life, BTC has not yet shown the full potential that cryptocurrencies have. Currently there is a lot of talk about NFT, DeFi and even the supposed Metaverse in which we will live in a few years but let’s not forget that the driver of all these innovations is the original cryptocurrency, Bitcoin, and possibly it is also the asset that continues to drive the revaluation of Ethereum and the other altcoins in the coming years.
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