Three predictions for the price of Bitcoin in 2030 have been made by James Mullarney, the host of the popular YouTube channel, InvestAnswers, which currently has 439,000 subscribers.
The cryptocurrency analyst based his prediction on the estimate that Bitcoin’s market capitalization could reach 40%, 60% or 100% of gold’s market capitalization.
Scenarios that if realized would bring the price of BTC to $514,815, $785,955 or $1.30 million respectively, by 2030.
“The narrative of valuing Bitcoin as a digital gold and/or store of value is very, very important. Many people, all the leading experts in the field, see this as a key method of valuing the market. Bitcoin adoption is faster than that of the Internet and mobile phones right now. So because of Metcalfe’s Law, this is completely believable,” said James Mullarney.
The average of third-party predictions
The analyst also set another price target for Bitcoin by creating an average of the price forecasts of popular models from Fidelity, ARK Invest and others.
Combining some of these well-known models in the industry, the host of the popular YouTube channel comes up with a price target for Bitcoin of $1.55 million for the year 2030.
Combining all of the aforementioned price targets, James arrives at an average “expected” target of $785,955 for Bitcoin, with $576,389 being the lowest prediction and $1.55 million being the most optimistic.