Bitcoin at $500,000 in 10 years? This adoption report suggests

Key facts:
  • Barely 0.36% of the world’s population currently uses Bitcoin.

  • For Will Clemente, the scenario is largely bullish over the long term.

Bitcoin is over 12 years old and is already one of the most valuable assets on the planet. Its adoption curve is just getting started, says analyst Will Clemente of Blockware Solutions.

Clemente extrapolated the Bitcoin adoption curve to other technological developments over time, as shown in a Tweet thread Posted on Thursday 9th June. Among them, we find the Internet, mobile phones, cars and even social networks.

Based on that data, The analyst determined that the cryptocurrency adoption curve is just beginning to take shape. His account is that barely 0.36% of the world’s population are currently Bitcoin users.

And while Clemente’s estimates go beyond the year 2100, according to a graph he posted on his Twitter thread, the first big boost to Bitcoin adoption among global citizens will come in the next few years.

The study established a future projection “using a mean and a weighted average of other historical adoption curves” which is reflected in the graph we share below:

For Clemente, the Bitcoin adoption curve is just beginning. Source: Blockware Solutions.

The projection shows a huge surge in adoption between this year and 2032, Although the real peaks will start to appear from 2042 onwards.

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Credit Plus Halving: A Leap in the Bitcoin Price

How will this affect the market? In Clemente’s words, “Exponential user growth is coupled with an increasingly deflationary, pre-programmed Bitcoin Cash policy.” This is it The combination of this exponential adoption and the emission reduction mechanism, known as halving, would cause the price of Bitcoin to rise In the long term future.

In the final graph, the researcher shows that there is an intersection between both variables. This image clearly shows that the price of Bitcoin will be pushed very hard as the adoption curve goes up. s As early as the beginning of the next decade, the forecast is around $500,000 per bitcoin.

The chart contrasts with the decline in the supply of Bitcoin and the prediction of an increase in its adoption in the coming years
Adoption (demand) forecasts give very high prices for Bitcoin in the near future. Source: Blockware Solutions.

Historically, the gradual decline in bitcoin issuance (which occurs approximately every four years) has been associated with a systematic rise in its market value. Halving, as this mechanism written in the bitcoin code is known, is then associated with bullish cycles for the cryptocurrency. Or at least for now. This makes sense, considering that there is an increased demand but fewer and fewer coins are being traded.

However, as we mentioned on CriptoNoticias, There are analysts who believe that this effect is coming to an end. Mainly, due to the fact that issuance will take a back seat as less than 10% of the 21 million BTC that will be in existence will be issued.

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