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1  Economy / Speculation / Do you really think bitcoin will reach 100k $ in 2021 on: August 19, 2019, 04:33:31 AM
According to Porto, rapidly growing technologies have a doubling time, meaning that their effectiveness doubles within a consistent, repeatable timeframe. Traditionally, Moore’s law has been applied to computing technology, but Porto says that the bitcoin price has thus far followed the trend by more or less doubling every eight months throughout its history.

As he states:

Moore's law specifically applied to the number of transistors on a circuit but can be applied to any digital technology ... Any technology that is growing exponentially (i.e., 'following Moore's law') has a doubling time.

Assuming bitcoin continues to follow this golden rule in the near-term, Porto anticipates the bitcoin price will extend beyond $100,000 by February 2021. Using the current BTC supply for simplicity’s sake, this would give bitcoin a market cap of about $1.65 trillion. Needless to say, a $100,000 bitcoin price would thrill today's investors, assuming they have the fortitude to resist the temptation to sell them.
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