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Bitcoin (BTC) to Reach $100,000 in 5 Years: Energy Value Forecast by Charles Edwards

Energy consumption is one of the most pertinent characteristics of the Bitcoin (BTC) network. So, this is not your average $100K prediction by another BTC maximalist.

Charles Edwards, head of Capriole Investments digital assets management fund and blockchain researcher, published a detailed forecast of the correlation between energy value usage of the Bitcoin (BTC) network and the crypto king price dynamics.

Mr. Edwardsforecast is based on the assertion thatBitcoin (BTC) Energy Value has tracked the Bitcoin (BTC)price for the last ten years.His calculationsare based on two main inputs, hash-rate and mining hardware efficiency.

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Thus, he expects that Bitcoins (BTC) hash-rate growth will slow and fall to~20% p.a. in 2025 similar to a mining hardware efficiency improvement (ca 16% in 2025). Mr. Edwards is sure, that

combining these estimates for HR and Efficiency, Bitcoins Energy Value should reach $100Kby 2025.

Additionally, the author of the forecast also tries to account for other factors the Bitcoin (BTC) price is affected by. Obviously, he calculates supply falland demand growth.

Mr. Edwards remembersthe role of black swans in Bitcoin Energy Value estimations. Thestep-change improvement in Energy Efficiency in 2013/14 took placewhen ASIC-chips dropped Bitcoin (BTC) energy value as a textbook example of such a swan.

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The two groups of risks are crucial for the Bitcoin (BTC) price. The first one is quantum computing which can break the SHA-256 algorithm to access the lost coins. The second group is about governmental restrictions that can curtail Bitcoin (BTC) mass adoption.

Nevertheless, the analyst predicts the Bitcoin (BTC) price to be catapulted towards the $100,000 level in 5 years:

Bitcoin was the best performing asset of the last 10yrs. There are plenty of reasons to think the next 5 will be no different

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Bitcoin (BTC) and Ethereum (ETH) Expected to Be Fastest-Recovering Assets by Chris Burniske

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Chris Burniske expects Bitcoin (BTC), Ethereum (ETH), and other quality cryptocurrencies to recover faster than traditional currencies

With Bitcoincrashing by 38 percentin just 24 hours on March 12, the number of its obituaries has increased for obvious reasons. Things were even worse for Ethereum — the biggest altcoin faced its worst day to date.

That said, Placeholder partnerChris Burniskebelieves that both BTC and ETH can be some of the fastest-recovering assets.

8/ Once the world has stabilized, I do expectand qualitycryptoassetsto be some of the fastest recovering assets out there, but weve got a tunnel to navigate before then.

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Bitcoin slumped all the way to the $3,800 level on March 12 with an immense red candle that annihilated all possible supports.It was followed by a swift recovery to the upper-$5,000 level, but the cryptocurrency still fell short of closing above the 200-week moving average. In fact, the $5,500 support has flipped into resistance.

On a positive note, BTC has already closed below its 200-week MA back in August 2015, which was followed by a massive bull market. While its not indicative of theultimate bottom, there is a historical president when BTC recovered and started a new bull runafter struggling to break above this average for six long weeks.

5/ Fortunately, weve broken the 200 week MA in the past and recovered. Below is a photo of August – November 2015, where we struggled with it for 6 weeks before breaking above it (kicking off the next m/zwTjwBu15G

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Still,Burniske doesnt rule out that BTC could plunge lower if the coronavirus pandemic doesnt slow down and continues to rattle global markets. His next target is the $3,100 level, which turned out to be the bottom in December 2018. Notably, BTC didnt close above the 200-week MA back then.

As mentioned above,Burniske does expect Bitcoin and Ethereum to be some of the fastest-recovering assets. This makes a lot of sense since the market caps of these assets are tiny compared togold or the S&P 500.

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. Hes particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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