from Bitcoin (BTC) price Predictions fly around you on an average day in cryptoland. However, many people will look at the current price and think: “The price can’t go up that much, can it?” Let me start by saying that no one knows this for sure. However, Bitcoin adoption rate and price are very close to the internet adoption curves! Is Bitcoin Price $1 Million Based on This Data Possible?
Bitcoin (BTC) and the Internet
The foundations of the Internet as we know it today were launched in the 1980s. However, adoption would not rebound until the 1990s. Thanks to technology, people all over the world have been able to communicate with each other and have gotten to do so On demand Access to information. Now we can also add the internet to the list of gas, water and light, technology is very important in our life.
On top of the internet, a revolutionary program called Bitcoin was launched in 2009. A decentralized network allows anyone with an internet connection to own, send and receive value in the form of BTC. The fact that trust does not play a role in this network means that everyone can trust that their bitcoins are secure, and that the information in the Bitcoin blockchain is correct.
Thus Bitcoin has the potential to make the economy more efficient, transparent and fair. When you give a $5 note to someone, both parties know for sure that that $5 note is now in the recipient’s possession. Bitcoin makes the same possible, but online to the other side of the world without the need for a broker or bank. Moreover, everyone can participate in this digital economy.
Bitcoin is growing faster than the internet
The reason why many people make comparisons with internet usage is due, among other things, to the fact that the price of bitcoin appears to follow the internet adoption curve. As more people buy and use bitcoin, the value of the network increases. This is also known as the network effect.
If we put the price of bitcoin on the price of the internet adoption curve and extrapolate that for the coming years, the chart shows that the price of bitcoin is a possible million dollars. Although this chart is a bit older, it is still relevant considering that the price of Bitcoin has risen sharply over the past year.
However, according to some, adopting Bitcoin is faster than using the Internet. With the growth rate that Bitcoin has shown in recent years, there could be a billion Bitcoin users worldwide by 2025. This is how “Moon” appeared in a tweet in August:
– Moon (TheMoonCarl) August 18, 2021
In the same year, according to stock 2 flow Dutch analyst PlanB model, $800,000 price tag can be reached (just under $1 million). In addition, Arcane Research This week with an investigation They say they expect the number of Lightning Network users to rise to 700 million by 2030.
Of course, there is no guarantee that Bitcoin will continue to follow this curve or the S2F model. There are many things that can put a wrench in business, such as strict regulation of cryptocurrencies around the world. However, with a potential Bitcoin ETF on the doorstep and positive messages from El Salvador I’m still positive about Bitcoin’s future!
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