The German state bank Bayerische Landesbank (BayernLB) conducted a study according to which, next year, the rate of the first cryptocurrency will exceed $ 90,000.
Researchers noted that next year it is planned to halve the mining reward, after which the price of the first cryptocurrency should increase significantly. At the same time, if it took hundreds of years for gold to reach the current ratio of reserves to new assets, then bitcoin can reach the same ratio as early as next year.
According to the author of the study, Manuel Andersch, the high ratio of available stocks of an asset to an annual new issue makes it an excellent option for exchange trading and makes it possible to use it as money. Moreover, already next year this parameter may increase significantly.
“If we model new data on the ratio of reserves to the flow of new bitcoins, then we will see a dizzying increase in the price of an asset to $ 90,000,” Anders said.
Recall that the halving of the bitcoin mining reward is expected in May 2020 at block 630,000. At some point, the code embedded in the mining algorithm of the first cryptocurrency will reduce the size of the reward from 12.5 to 6.25 BTC.