Summary
- A prediction has been made that Bitcoin will reach $1.5 million by 2035.
- Analyst Peterson's prediction is based on Metcalfe's Law, emphasizing the increase in Bitcoin's value with user growth.
- Peterson has previously accurately predicted the bottom and rebound of the cryptocurrency market.
There is a claim that Bitcoin (BTC) will reach $1.5 million by 2035.
According to Cointelegraph on the 10th (local time), cryptocurrency analyst Timothy Peterson stated, "Bitcoin will reach $1.5 million by 2035," adding, "This prediction is certain."
Peterson's Bitcoin price prediction model is designed according to Metcalfe's Law. According to Metcalfe's Law, the value of a network is proportional to the square of the number of its users (nodes). As Bitcoin's user base gradually expands, its value increases exponentially.
The media outlet evaluated, "Peterson makes predictions based on the growth of the Bitcoin network and Metcalfe's Law," adding, "He has accurately predicted the bottom of Bitcoin prices in 2020 and the rebound of the cryptocurrency market last year."
As of 11:58 PM, Bitcoin is trading at $94,626 on the Binance USDT market, up 0.55% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![Dow Tops 50,000 for First Time Ever as “Oversold” Narrative Spreads [New York Stock Market Briefing]](https://media.bloomingbit.io/PROD/news/1c6508fc-9e08-43e2-81be-ca81048b8d11.webp?w=250)
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