Bitcoin's future price could reach $1.5 million per coin by 2035, according to network economist Timothy Peterson.
Bitcoin's future price could reach $1.5 million per coin by 2035, according to network economist Timothy Peterson. In an X post on Jan. 8, Peterson shared his prediction based on his analysis of network growth, a critical factor in Bitcoin’s value. Peterson’s model, inspired by Metcalfe’s Law, suggests that as Bitcoin's user base expands, so too will its value. Peterson’s optimism is grounded in historically accurate predictions, including his 2020 forecast that Bitcoin would not fall below $10,000 again. He also correctly predicted the local price bottom in September 2024.
Peterson has long been a Bitcoin bull, attributing Bitcoin’s potential growth to network effects, which state that the value of a network increases with the square of the number of users. In his post, Peterson confidently states that by 2035, Bitcoin will reach $1.5 million per coin. He invites speculation on whether now is a good time to buy, as the market continues to evolve. His analysis focuses on network expansion, which he views as the key to Bitcoin’s long-term profitability.
Despite Peterson’s bold prediction, the current market environment for Bitcoin is uncertain. Bitcoin’s price recently dropped to $93,074, prompting mixed forecasts for the coming year. Some analysts, such as Keith Alan, co-founder of Material Indicators, have cautioned that the market may see further declines. Alan’s Jan. 9 post suggested that Bitcoin’s current dip may not yet be over, with the possibility of a deeper correction. He mentioned that a 20% correction could bring Bitcoin’s price down to around $86,500, with further declines possible if support levels do not hold.
While some market watchers expect a correction, others believe that Bitcoin’s price will continue to rise, particularly with the upcoming U.S. presidential inauguration. The contrasting views on Bitcoin’s short-term direction underscore the volatility in the market. Peterson’s prediction focuses on Bitcoin’s future value, which he believes will be driven by greater adoption and technological advancements. His model relies on the idea that Bitcoin’s infrastructure and integration into mainstream finance will fuel its long-term growth.
As Bitcoin’s market behavior fluctuates, predictions about its price for 2025 remain mixed. Peterson’s bullish outlook contrasts with the caution expressed by others, highlighting the uncertainty in the cryptocurrency market. However, his long-term forecast emphasizes the importance of network effects, suggesting that Bitcoin’s value will continue to increase as its global user base expands.
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