Bitcoin To Hit $100,000 in Five Years as Demand and Adoption Increase – Report
Bloomberg analyst Mike McGlone has predicted that the price of bitcoin will hit $100,000 by 2025. McGlone premised his argument on past bitcoin trends, including the period in which the price took four years to go from $1,000 to $10,000 in 2017. “So, doubling that time frame for maturation could get the price toward $100,000 in about five more years,” he said, in Bloomberg’s Crypto Outlook report for October. “Most demand and adoption measures indicate bitcoin is more likely to stay on its upward path.” McGlone observed how that a top metric for adoption, the....
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“Around 6% of the U.S. population now use or own crypto, and the trend is growing,” said the report. A new report from MiQ Digital indicates that demand for cryptocurrency has increased the most in the U.S. states of Hawaii and California in 2021.According to data gathered from Google Trends comparing the average interest from 2020 to 2021, MiQ Digital reported that Hawaii had seen a more than 687% increase in demand for cryptocurrencies over that in 2020, even more than runner-up state California at 655%. However, users are most likely to find businesses in California that are willing to....
The Bitcoin price is the monetary cost of a bitcoin. The term "price", as used here, is not to be confused with "value" which is a perceived regard for Bitcoin's benefits and usefulness. The Bitcoin price is expressed as an exchange rate in relation to another currency. So, for example, the Bitcoin-to-Dollar exchange rate may be $1,750 for one bitcoin, written as $1,750 BTC/USD. By design, a total of 21 million Bitcoins will be created over 100 years according to a logarithmic release function. At the time of writing, just over 13 million bitcoins are in circulation, meaning that an....
The report states that global NFT transactions are projected to hit 40 million in the next five years. A new report from Juniper Research analyzed the trajectory of the nonfungible token (NFT) market over the next five years. According to the study, global transactions related to NFTs will escalate from 24 million in 2022 to nearly 40 million by 2027. One of the top catalysts to push NFT adoption will be those linked to metaverse use cases, according to the study. This niche of NFTs will be the fastest growing in the next five years. Metaverse-related NFTs will experience an increase in....
Despite the recent downfall of the crypto market, the projection of Bitcoin (BTC) to cross the $100k threshold remains seen as a matter of time. Back in December, Bloomberg Intelligence indicated that the anticipated mark would happen eventually “due to the economic basics of increasing demand vs. decreasing supply,” and new data shed some light on that idea. Bitcoin Vs. Crude Oil In a new Bloomberg Intelligence report, data shows trends that could favor Bitcoin and Ethereum prices. The report noted that “Representing advancing technology, Bitcoin is gaining traction as a....
Crypto adoption has grown significantly in the last two years. It is one of the fastest-growing trends ever experienced in the market, which is expected to continue over time. A look into the growth trend shows some unlikely drivers of this adoption. The NFT space is one that also grew into prominence in the last […]