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Old 30th June 2020, 07:42 PM   #608
Roger Ramjets
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Join Date: Jun 2008
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crypto increasingly used for speculation not store of value

Crypto Research Report Predicts $397K Bitcoin Price by 2030
Quote:
“We believe that Bitcoin is still at the very start of its adoption curve,” the report states. “The price of $7,200 at the end of 2019 suggests that Bitcoin has penetrated less than 0.44% of its total addressable markets [worth $212 trillion]. If this penetration manages to reach 10%, its non-discounted utility price should reach nearly $400,000.”

The ‎Liechtenstein-based research group analyzed cryptocurrencies based on their target addressable market, or TAM, a metric used “to estimate a cryptoasset’s implied future price.” According to the report, TAMs for cryptocurrencies include remittance, tax evasion, offshore accounts, store of value, online transactions, micropayments, crypto trading, gaming, online gambling, consumer loans, reserve currency and others.

The report also observed on- and off-chain velocity metrics for altcoins and concluded that the “growth in the number of speculative transactions on exchanges is faster than growth of utility transactions to buy goods and services.”...

“High velocity on-chain and low velocity off-chain suggests that crypto assets are becoming increasingly used for speculation and not for store of value.”
Half the price it was 3 years ago, but don't despair. Keep HODLing those Bitcoins and that pot o' gold will soon be yours. Just another year er, I mean 5 years, and everybody will be rich!
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