Bit Coin price in future prediction


Scenario 1


March 1st 2018 - $8,950 per 1 BTC

March 1st 2019 - $68,059 per 1 BTC

March 1st 2020 - $517,536 per 1 BTC

March 1st 2021 - $3,935,454 Per 1 BTC


How I arrived at the above numbers........

July 17th 2010 bitcoin price was $0.05 (the price when it started TRADING)

and on Dec 6th 2010 bitcoin price was $375.00


Time interval between both dates is 1604 days or 53 months

The computed doubling time for Bitcoin worked out to be 4.1 months between the two dates
ie every 4.1 months over the 53 months time period , the price doubled


I then took the 27th Feb 2017 price of ($1177) as a start date & price and using MS Excel's POWER Function in a spreadsheet projected it forward for the next 4 years again assuming it ( the price ) will be doubling every 4.1 months ( which is historically what it did between July 17th 2010 and December 6th 2010)


-----------------------------------

Scenario 2

July 17th 2010 bitcoin price was $0.05 (the price when it started TRADING)

28th Feb 2017 bitcoin price was $1177

Time interval between both dates is 2418 days or 79.497 months


 then i took the 27th Feb 2017 price of ($1177) as a start date & price and using MS Excel's POWER Function in a spreadsheet projected it forward for the next 4 years, again assuming it ( the price ) will be doubling every 5.473 months   ( which is historically what it did between July 17th 2010 and Feb 28th 2017)

which gives the following price predictions


March 1st 2018 - $5,403 per 1 BTC

March 1st 2019 - $24,699 per 1 BTC

March 1st 2020 - $112,699 per 1 BTC

March 1st 2021 - $516,115 Per 1 BTC


both scenarios assume that the price doubling is constant going forward , and yes i know it wont actually happen like that , but it a good excersise to see how close i end up being to my original scenario 1 & 2 predictions


Thats how i worked out my predictions, i also took into account that a lot of technologies grow on an exponential curve, and i think that Bitcoin is one such "technology"



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