If the seven-year trend of Bitcoin price continues, Bitcoin will be valued at around $250,000 by 2020.
The seven-year trend of Bitcoin price based on daily value change. With the exception of 2014, which was affected by the downfall of now-defunct Mt. Gox, Bitcoin has continuously recorded positive daily value change since 2010.
Bitcoin average DAILY value change:
2010: +0.82%
2011: +0.76%
2012: +0.26%
2013: +1.11%
2014: -0.25%
2015: +0.09%
2016: +0.22%
2017: +0.66%
In the past three years, Bitcoin price has increased exponentially, surging by 0.09, 0.22 and 0.66 percent in 2015, 2016 and 2017 respectively on a daily basis. In 2017, Bitcoin price increased by 0.66 percent on a daily basis, as Bitcoin price surged from $980 to $2750 within a six-month period.
Bitcoin daily gain since 2010 is considered, by 2020, Bitcoin price should reach $250,000. This, of course, assumes that Bitcoin price will increase at an average rate of 0.42 percent on a daily basis.
This is so exciting! Great post!
That's some really nice analysis. Who knows if it'll slow down or go up. There's a quote saying that Einstein once said, "the strongest force in the universe is compound interest."
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