Study Reveals Bitcoin Could Reach $98,000
Satis Group, an Initial Coin Offering advisory firm, revealed that it may be possible for Bitcoin to hit $98,000 on an upcoming bull run. The research stated that by the year 2028, the crypto market cap will be topped at just over $3.5 trillion USD.
The report mentioned that ETH can lose its position in the market due to competitor successes throughout the same period. Bitcoin Cash has also been predicted to decrease in value as it strives to maintain its branding whilst lacking technological advantages over its competitors.
Currencies with a centralized platform, like Ripple, may be taking an even bigger devaluation, with XRP possibly falling to around one cent.
A spokesperson from the Satis Group said that although ETH has a strong following promoting it, there are several flaws in its core that can allow for a serious downgrade in the next decade.
The firm also said that the majority of investments flooding the market may be derived from the support of valuable use cases. The BC startups providing major use cases for enterprises and investors might be the only survivors.
The Satis Group stated that at the moment, a large part of the crypto market cap is in traditional value markets, 40% of which are comprised of deposits made abroad. Regardless of TAM, increases in storage and lending, amongst other aspects, the required market cap necessary to support these economies will decrease when adjusted for increased velocity.
The agency is optimistic regarding decentralized tech and value use cases provided by different types of crypto. They believe that it is clear that if the sector continues in an upward trend, it can result in mass acceptance of digital assets in the upcoming years.