Bitcoin may hit the level of $98,000 in coming years. According to research conducted by the ICO consulting company Satis Group, the outlook for bitcoin will remain positive, and bitcoin could reach $98,000 in the next five years.
The report written by Michael Hodapp and Sherwin Dowlat, has also analysed several other cryptocurrencies such as Bitcoin Cash (BCH), Monero (XMR), Ripple (XRP), Decred (DCR), and Ethereum. According to this report, over the next five years, other cryptocurrencies like Monero (XMR) which is priced at $107 will reach $18,000, and Decred (DCR) which is currently priced at $41 will touch $535. The research report has also forecasted that by 2028 Ethereum platform network may lose share from nearly entire to a half share.
Crypto analysts believe that the best opportunity for crypto assets will be in store of value markets while the report states that fundamental values which support the crypto economy will come from the store of value use cases. In the current scenario, the majority of the crypto asset market capitalisation is held in traditional store of value markets. Offshore deposit accounts for almost 40% of the total market capitalisation.
In the study, crypto assets were also included. According to the report the value of crypto assets is estimated to increase, and by 2028 the number of crypto assets will be $3.6 trillion. By next year the estimated cost of crypto assets will increase from about $500 billion. Further research from Sanford C. Bernstein &Co., states that in 2018 revenue generated by the crypto exchanges could double and can reach $4 billion. ICO market report of 2018, by ICORating, states that the crypto market has surged to increase by 2x during this period.
In less than a decade, cryptocurrencies have made a statement in the financial sector. The popularity of cryptocurrencies is growing at a faster pace. Though the governments all over the world are looking into the regulation of cryptocurrencies, investors are feeling safe and comfortable about investing their money in digital currencies. Now the report by Satis Group has also confirmed that the trend of digital currencies is bullish for coming years.