Bitcoin at the moment is trading at around $3000 and growing to $100,000 per share would represent one of the biggest growth indexes in history. But on the surface, such a figure looks almost impossible, but on a deeper analysis, you can see how this would be truer than fiction.
165 percent Bitcoin growth in 2013
Many describe the year 2013 as the year the built Bitcoin. It was trading at around $700 per share, which is no small volume by any stretch. But in that year alone it grew by 165 percent to hit the $2000 mark. This gave many investors’ faith in the cryptocurrency and saw many more investors come in. In 2017 Bitcoin hit $4000 another 100 percent increase. There is a trend being set by the growth of in Bitcoin that Van-Petersen sees is configured to continue.
Who is Van-Petersen?
Van-Petersen is the chief strategist at Saxo Bank. The bank does long-term market analysis and comes up with some pretty incredible results. Some like the Bitcoin analysis, even they said it was a bit of a stretch.
However, Van-Petersen often comes out and says that his predictions are not company based and are his analysis. H has analyzed different trade items for over ten years where he releases a weekly report every Monday called Macro Monday.
How Van-Petersen predicts Bitcoin will grow
Suffice all the buzz on Bitcoin at the moment it accounts for a tiny percentage of the daily market share. Van-Petersen predicts that in 10 years Cryptocurrency will account for 10 percent of the market share.
The overall fiat trade stands at $5 trillion meanings that cryptocurrency will control over $500 billion. Bitcoin is currently one of the biggest cryptocurrencies with it only set to grow. The Saxo strategist believes that Bitcoin will control 35 percent of the crypto trade. That means Bitcoin will control $175 billion of the day trade.
He also predicted by using the market cap index, which he estimated to be ten times the total value of the day trade the value of Bitcoin could be around $1.75 trillion.
At the moment we have around 16 million Bitcoins in the market. With the rate of creating Bitcoins tremendously slowing down the total number of Bitcoins Van-Petersen predicts to be in the market in 10 years is 17 million.
With the total number of Bitcoins at 17 million and the total value of the company at $1.75 trillion, a start forward division would help us estimate the value of one Bitcoin which would be $100,000.
Predictions have their flaws, but history does repeat itself, and if he used the same calculations to correctly estimate Bitcoin hitting $2000 in 2013, then he may be on to something.