New study claims $98,000 Bitcoin could be on the way

2018-9-1 23:57

A new study by Satis Group, an ICO advisory firm, has shown that a possible $98,000 bull run could be in the cards in the near future.  According to the report put forth by Satis Group, by 2028 the overall cryptocurrency market cap will be 3.6 trillion dollars.  

The report also predicts that Ethereum will be losing its market share position to its competitors over this time period.  Bitcoin Cash is also predicted to lose value over his time as they struggle to obtain “brand recognition” while offering “minimal technological advantage to incumbents.”

Cryptoassets with centralized ownership such as Ripple are predicted to take the biggest hit during the next several years, with the report predicting XRP to fall all the way to $0.01.  

“While we do acknowledge the strong community around the ETH network, minor flaws in design and governance (which we believe will result in contention leading up to the future network upgrades, notably the move to Proof-of-Stake (PoS) consensus) can expose the relatively low switching costs of overlying networks built on top of it (the ICO’s, and tokens).”

According to Satis Group most of the money entering the market will come from the support of  store of value use cases. The blockchain startups and foundations that provide the most tangible use cases for people and businesses will ultimately be the survivors.  

“Currently, the vast majority of the total cryptoasset market capitalization is held in traditional store of value markets, with offshore deposits accounting for nearly 40 percent of the total.  Despite TAM (total addressable market) growth residing in [computing, storage, and lending], the necessary cryptoasset market capitalization needed to support usage of those economies falls once adjusted for higher velocity. As a result, cryptoasset market capitalization growth is primarily from increased store of value use case penetration.”

Satis Group is optimistic about the decentralized technology and store of value use cases that various cryptocurrencies can provide.  It is obvious that if these trends take hold and lead to mass adoption that the price of crypto assets will rise in the coming years. However, for the companies that don’t provide valid use case the bubble may have already popped.  

The post New study claims $98,000 Bitcoin could be on the way appeared first on ZyCrypto.

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