CEO Morgan Creek: Bitcoin will easily rise to the range of $50,000 to 100,000 by 2021
Mark Yusko, CEO of Morgan Creek Capital, believes that Bitcoin can "easily" reach levels of $50,000 to 100,000 in 2020 or 2021.
In a conversation with BlockTV, he noted that the key to the future Bitcoin rally will be the network effect, emotions and the number of speculators who want to enter the market. Yusko predicts the price of Bitcoin on the basis of Metcalfe law, according to which the value of the network is proportional to half the square of the number of users of this network.
"When I think about the growth of the network in the context of Metcalfe law, I find that the price can easily be between $50,000 and $100,000 somewhere in 2020 or 2021. This is a fairly wide range, but it seems to me that the main difficulty in predicting a price is that it does not reflect its true value," he said.
Yusko recalled the events of December 2017, when Bitcoin traded at $20,000, while "its value was $10,000 or $11,000, and people should have stepped aside. At the same time, when Bitcoin approached $3,000 at the end of last year, the fair price was around $13,000-14,000, which was the trigger for active purchasing, Yusko said.
"We still think that the intrinsic value of Bitcoin is determined by Metcalfe law and the spread of cryptocurrency among users, which corresponds to $15,000-17,000," he added.
A similar view is held by Morgan Creek Digital's partner Anthony Pompliano, who recently announced that the price of Bitcoin could reach $100,000 by the end of 2021.
What do you think will bitcoin be 50-100k in 2020-2021 or it will be much less? what about steem?
photo of 100k
Dear @eyeris
Somehow I cannot see it happening. There is not enough trust, wounds are to fresh after 2018, ICO are quite dead, regulations are still a mess.
So called "true value" is nothing more than what we believe that BTC is worth. And 50-100$k usd in 2-3 years seem to me to be more a fairy-tale wish than real value.
Yours
Piotr