The speculative forecasts of Bitcoin prices always attract a lot of attention. In the last two years, these have ranged from collapsing to zero to those who have supported parabolic growth to one million dollars.
The latest prediction is an analytical piece by entrepreneur Harold Christopher Burger, who analyzed the long-term natural growth corridor of Bitcoin.
Burger analyzed the ten-year history of the bitcoin price to gain insight into its future.
Two bold predictions
He established that price evolution can be understood as moving down a corridor, defined by two time-based power laws. Two bold predictions were made using this model:
“The BTC price will reach $ 100,000 no earlier than 2021 and no later than 2028. After 2028, the price will never fall below $ 100,000.
The price will reach $ 1,000,000 per bitcoin no earlier than 2028 and no later than 2037. After 2037, the price will never fall below $ 1,000,000. “
This price corridor has been divided into two bands, one at the bottom and one at the top of the price forecasts. The BTC price spent equal amounts of time on each band, suggesting a high boom and waiting cycle.
Bitcoin’s natural long-term power-law growth corridor @ hcburger1 https://t.co/I4AvUL3Lxz
– Erik Voorhees (@ErikVoorhees) September 5, 2019
In-depth research continues to explain price patterns and historical action. And the logarithmic graphs have been illustrated on linear scales, because they represent the evolution of prices much better.
After all, this is just another price model. It suggests that current and past price actions create an important future for Bitcoin.