Dennis Porto, a Harvard University researcher, recently told Multiplex founder Brian Roemmele that the price of the bitcoin would exceed $ 100,000.
Moore's law is named after Intel's founder, Gorden Moore. It refers to his discoveries of 1965 which led him to assert that "the number of transistors per square inch on integrated circuits has doubled every year since their invention". Moore's law demonstrates the exponential growth of computer technology and the high rate of growth that this type of market can achieve.
Like Intel's integrated circuits and Nvidia's chips, bitcoin has increased its value at an exponential rate since early 2009. It has always been the world's most powerful asset and currency for the last 8 years, with the exception of 2014.
According to Tom Lee, the eminent Wall Street strategist, Bitcoin should continue in this direction. He highlighted the rapid increase in demand for Bitcoin from institutional investors and said that in the future he would prefer to invest in bitcoin rather than in a basket of US stocks. He points out:
"I think bitcoin is undervalued and has the potential to interest and attract institutional people in the future. Many of its characteristics make it look like gold and I think one of its interests is this aspect of alternative currency. It is a good product to maintain value over time. Institutions now have to buy this token through a broker, but CBOE and CFTC are beginning to offer futures contracts. The more time will pass, the more institutions will have access to this type of market. "
There are many reasons why eminent analysts and top traders remain confident in the bitcoin. One of these lies in the scalability of Bitcoin. It is considered by most to be digital gold, a safe and long-term asset. But above all, bitcoin remains a digital currency. Its portability and liquidity have been two of its main advantages, and traders prefer the bitcoin to gold for all these good reasons.
As explained by Lee, the liquidity of bitcoin will increase rapidly in the coming months. The world's largest brokers and dealers are about to join Bitcoin, starting with the Chicago Board Options Exchange. In addition, commercial banks also promise to incorporate bitcoin into their investment portfolios. One can cite the Swiss bank Falcon which offers cryptomonies to its customers. "The first reactions to our decision to integrate cryptomonas are very encouraging and we are convinced that these 3 new assets will meet the future needs of our customers," said Arthur Vayloyan, head of bank Falcon.
As the global adoption of the bitcoin follows an exponential law, Bitcoin is expected to reach a value of $ 100,000, as predicted by Porto and many analysts in the financial sector.
