Mike Butta- Money Morning - Only the News You Can Profit From.
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- Article 0 Thursday, February 6, 2020Why the Price of Bitcoin Will Surge to $55,000 After This May 2020 Catalyst Increases Its Scarcity
Today, we'll show you how to value Bitcoin using a different model – one which allows us to compare its value to other scarce assets like silver ($308 billion market cap) and gold ($8.4 trillion market cap).
You see, Bitcoin should be compared these precious metals since they also aren't income producing businesses, yet they hold significant value in this world because they're also limited in supply and unforgeable.
To date, this model has correctly explained 95% of the price of Bitcoin within two standard deviations of its projected mean.
And it predicts Bitcoin's market cap will surpass $1 trillion (or $55,000 per Bitcoin) by 2021.Read more...