“Bitcoin Could Pass $100,000 By 2021” Harvard Academic
Bitcoin could pass $100,000 by February 2021; Harvard academic Dennis Porto stated: “Bitcoin is the first digital currency to follow Moore’s Law.”
In emailed comments to Business Insider, Porto an investor in cryptocurrency said that after analyzing Bitcoin’s performance, it was the “first” currency to follow the digital technology rule of Moore’s Law.
“Moore’s law specifically applied to the number of transistors on a circuit but can be applied to any digital technology,” Porto wrote. “Any technology that is growing exponentially (i.e., ‘following Moore’s law’) has a doubling time,” he added.
The comments come as Bitcoin price has hit a new milestone amid a historic lock-in with BIP 141 or SegWit set for today or tomorrow.
Porto asserts that the value of a Bitcoin coin has doubled every eight months since its creation.
“This poses a unique opportunity for investors,” he added, something which was well-received in social media circles.
While multiple well-known cryptocurrency commentators have stated how much one Bitcoin will cost in the next five or 10 years, $100,000 by 2021 is one of the most optimistic price points.
This week, Max Keiser repeated his faith in Bitcoin reaching $5,000 in the coming months.
Technical picture clears up. Bitcoin good to shatter ATH and race to $5,000.
— Max Keiser (@maxkeiser) July 20, 2017
A few weeks ago John McAfee enthusiastically expressed his idea Bitcoin would hit $500K in three years or he “would eat his dick on national tv.”
so 1btc 500k $ within 3years?
— MΔgUra (@maguraaa) July 17, 2017
With optimism from all over the financial spectrum and SegWit set to lock-in then activate later this month or early September could these cryptocurrency analysts be right that Bitcoin is headed for the moon within the next few years?
At the time of this writing, Bitcoin has hit a coin market cap of $56,228,026,363.