Crypto Analytics Research Report published 10th anniversary report with a very bullish Outlook on the price of the first cryptocurrencies.
The research team believes that bitcoin is still early in the adoption curve. At the moment the destination address scriptaction market is about 212 trillion dollars. Last year, the market capitalization was only 0.44% of this figure. The report asserts that if the cap reaches 10% of the target market, then bitcoin will be worth $397 000. After the first popular cryptocurrency altcoins will go to growth.
The findings of the team based on simulation data of bitcoin prices using the concept of total target market (Total Addressable Market), which is widely used to predict prices in the stock market based on market factors.
However, according to the report, the cryptocurrency attracts more and more traders as a speculative asset and not as a long term investment. According to analysts, between price of bitcoin and active stock traders, there is a clear correlation.
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