Tuesday, 10 December 2019
Will Bitcoin break new records in 2020?
Marco, the most accurate chart I've found is a composite by PlanB, who is active on Twitter. His stock to flow model perfectly covers the historical BTC price changes from 2011, based on logarithmic growth.
Based on past performance, BTC should surpass it's old ATH of $19,700 in late 2020/early 2021, then gradually rise to a new ATH of around $180,000 by late 2021.
As to the million dollar question of 'Will altcoins surpass their 2017 ATHs?', I can only say that no other cryptocurrency performs as a stock-to-flow product.
BTC is highly predictable in price performance.
Altcoins are highly unpredictable and only the top 10 altcoins show significant price growth year-to-year.
Proof-of-work and logarithmic price have a decade of correlation, leading to a stable long-term store of value for Bitcoin. No other cryptocurrency comes near it, especially its 'rival' Ethereum, which if anything, will drop in price as decentralised finance grows exponentially on ERC-20, ERC-115 and ERC-1404 coins.
From Twitter today…