According to notable cryptocurrency analyst Credible Crypto, Bitcoin BTC/USD will reach a new ATH and a six-figure BTC by 2023.
The analyst expects close to a 219% explosion in the price of Bitcoin in less than six months.
Still expecting a new ATH and six figure $BTC by 2023 and believe we are likely back on our way down in 2024-2025 and in the depths of a bigger bear market than most have ever seen at that point. Kudos to Kaleo if he is right and I am wrong- time will tell https://t.co/iULuaL1oc6— CrediBULL Crypto (@CredibleCrypto) July 6, 2022
According to Credible, if the adoption of crypto technology is anything like that of the internet, then investors in the space are very early. He quotes an excerpt from a report by Wells Fargo that compares crypto adoption to the rise of the internet.
"Internet use surged from 77 million in 1996 to 412 million in 2000. By 2010...internet use had grown to 1.98 billion, and today sits at 4.9 billion."— CrediBULL Crypto (@CredibleCrypto) July 7, 2022
"The number of global cryptocurrency users reached 221 million in June 2021..."
You're early af, be patient. $BTC
At the time of writing, Bitcoin was trading at $21,591, close to 13% more in the last seven days.
Even if the current crypto market looks volatile and could suffer a further downturn, analysts believe that current Bitcoin price levels offer the kind of value for money not seen in years.
The director of global macro at asset manager Fidelity Investments Jurrien Timmer says, “Looking at Bitcoin’s network growth, it’s clear that the adoption curve is tracking the more asymptotic internet adoption curve, rather than the more exponential mobile phone curve. Per Metcalfe’s Law, slower network growth suggests a more modest price appreciation.”
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