Why BITCOIN price will raise and hit the 10K USD barrier ?
It is important to understand the price prediction that is made by studying the trend of the Market Cap and Supply. The first is the total money we currently have on the market and the second is the amount currently on the market, the total mined quantity. For those who like math, this is the formula:
To understand these concepts, we must analyze the data presented by the CoinMarketCap website.
In the following spreadsheet we can see the current and future values of the Market Cap and the Supply of Bitcoin. Predictions are based on values automatically calculated from present values and their maximum coin mining value. In this case we would be at 21,000,000, at most, for Bitcoin.
As for the Market Cap, it can be said that it has risen about 2K USD, placing its price at almost 9K USD. This derives from the study of its historical price throughout the month. The following spreadsheet defines it more clearly.
We will do the same for the existing Supply. We will also take into account that the maximum amount of Bitcoins that can be mined is 21,000,000.
This is where the magic of prediction happens, the price of Bitcoin will rise to the 10K USD barrier. To be more precise, the prediction says that the price of Bitcoin will be 10,302.66 USD.
The values that have been used in this spreadsheet will have changed by the time of publication to a current value according to the Bitcoin market.
If you want to do your own calculations, here is the spreadsheet that is needed. The address corresponds to a OneDrive link.
I'm not an expert nor do I give investment advice.
Do an extensive study before investing.
TONY-SOFT
