Altcoin bubble by 2023; capitalization up to 150 times, a research suggests

[skaffen]

Do a search for Logarithmic Analysis, there's no such thing.  The nearest thing google comes up with is Log-linear analysis.  Or is he talking about Logarithmic Regression models?

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[pajak666]

I will likely to believe in long term predictions than Mcafee’s 1 million per BTC by 2020, but maybe he’s prediction is right who knows. Maybe the halving could contribute for the BTC’s price to get more valuable that could trigger investors to buy more if they are aware of this kind of implementation.

He's already predicting bitcoin price will go to 1 mil since 2018. I really remembered he was so optimistic with bitcoin price after the big pump in 2017 end. Not just him, people around the world especially who already bought some bitcoins are really optimistic about the rise of the cryptocurrency in 2018. But everything is going down, i'm sure that was a game from whales who tricked people with mass media

McAfee prediction was about $1M to the end of 2020:

https://twitter.com/officialmcafee/status/935900326007328768

And in my opinion his prediction is no different from the one in this thread. Any idiot can think of a price and say it out loud. In the cryptocurrency market, nobody can say that they are wrong, because anything can happen here.

Thing is you can use better or worse reasons for your thinking Don't think prediction == another prediction as they are based on presumably different ideas. One might easily be more correct than the other. Also anything can happen, sure, but there is % of each event happening and the magic is in making assumptions in your model that are the closest to reality.

[Wysi]

Do a search for Logarithmic Analysis, there's no such thing.  The nearest thing google comes up with is Log-linear analysis.  Or is he talking about Logarithmic Regression models?

There is nothing as such and anyone can come up with their own theory and bit of diagram to prove their point but when it comes to crypto these things doesn't matter as we have come across hundreds of such analysis and speculations which turned out to be personal opinions.

[agentx44]

Recent logarithmic analysis by analyst Benjamin Cowen suggests that, by 2023, the capitalization of the cryptocurrency market could exceed $11 trillion.

This is "medium case" scenario, while "extreme case" scenario offers the total capitalization of $32 trillion, with prices boost up to 150 times. While Bitcoin exchange rate at this scenario is at ~ $141K for 1 BTC, its total market share will drop to 23%, leaving space for "altcoin bubble" (which is plausible in both scenarios).

The analysis is performed based on weekly data on the price movements of Bitcoin and altcoins.

Source: https://icolink.com/ico-news/benjamin-cowen-predicts-a-cryptocurrency-bubble.html

What do you think? Will altcoins be the future of the cryptocurrency market, or is it too distant and insignificant future to consider? Is the market too volatile for any sort of longterm predictions, or does it sound plausible to take into account such researches while investing?

If that's the case, we should already start investing to altcoins that has potential to become successful in the future. If we are going to stay stagnant with our current investment and start searching for new altcoins. The market indeed is too volatile for a longterm predictions but in order to counter that problem, we just need to simply become aware of what's happening in the market everyday. If we really want to make sure our investment would work, we should give lots of our times on it and exert effort always to know how to make your investment successful.

[Febo]

Recent logarithmic analysis by analyst Benjamin Cowen suggests that, by 2023, the capitalization of the cryptocurrency market could exceed $11 trillion.

This is "medium case" scenario, while "extreme case" scenario offers the total capitalization of $32 trillion, with prices boost up to 150 times. While Bitcoin exchange rate at this scenario is at ~ $141K for 1 BTC, its total market share will drop to 23%, leaving space for "altcoin bubble" (which is plausible in both scenarios).

The analysis is performed based on weekly data on the price movements of Bitcoin and altcoins.

Source: https://icolink.com/ico-news/benjamin-cowen-predicts-a-cryptocurrency-bubble.html

What do you think? Will altcoins be the future of the cryptocurrency market, or is it too distant and insignificant future to consider? Is the market too volatile for any sort of longterm predictions, or does it sound plausible to take into account such researches while investing?

It is pretty classic research made by past data. What he did not incorporate is next economic crysis. Crypto never saw one so far. So he cant see it in existing data.

[Karto]

Well, crypto is basically not tied to anything so bubbles in the future are very likely to happen
thats just the way it is

i dont know if the entire marketcap will go up x150, but highly likely because there are also many new coins coming
so there can be a lot of new money in the space, but it will be divided to more projects than now
so the difference between prices can not be much higher

[styca]

It's just a guess. If it's based on logarithmic growth, then there is a huge linear margin of error. The values he's giving could be orders of magnitude wrong, so it's really more of a guess based on history than a proper assessment. As for suggesting what will happen in 2023, that is a lifetime in crypto terms, any prediction looking that far ahead is likely to be wildly inaccurate.

[altcointalk14]

Do a search for Logarithmic Analysis, there's no such thing.  The nearest thing google comes up with is Log-linear analysis.  Or is he talking about Logarithmic Regression models?

There is nothing as such and anyone can come up with their own theory and bit of diagram to prove their point but when it comes to crypto these things doesn't matter as we have come across hundreds of such analysis and speculations which turned out to be personal opinions.

That's 100% correct. Anyone who think that such theories work in crypto must correlate recent bull run from 6600-7600$ to such theories. Crypto is still in its early days and its analytics is yet to arrive. Till then just hodl.

[Hamphser]

Again, a new expert showed his face to the media with the false news. The personal guesses don't convince anyone after the end of the bull market, CNN showed the ways for buying BTC in the bull market and they invited experts for explaining how to sell BTC in the bear market. Same story, different coins.

What a sad story.
Anyone can make their own personal prediction and speculation but it doesn't mean that they were right. Sometimes it takes a few read or research to actually know what we are investing. When talking about investment we should research on how to minimize the risk of losing when the time comes. Don't just invest because it is being hyped, one day you will find yourself scratching your head with full of regrets.

[jacafbiz]

I don't think anyone doubt there would be another Altcoin bubble, the question has been when it would take place. The current market is providing background for the next bull run, most of these Altcoins won't make it to the next bull run and they will die and pay way for the next crazy bubble market. Just don't miss out

[DigeNarrator]

i am sure that the will be a bull run and it'll come a lot before 2023 .. 2021 or 2020
there is so much hapenning behind the scenes now so it wont take that long

[poodle63]

Do a search for Logarithmic Analysis, there's no such thing.  The nearest thing google comes up with is Log-linear analysis.  Or is he talking about Logarithmic Regression models?

It looks like if he was using the formula to calculate the future price of crypto and someone has already used this in the past to determine the future price of bitcoin.
Why people are so easy to predict about when the bubble will come for sure.

[Zemomtum]

I am yet to see anybody that was able to predict the future rightly. It is not just possible and that suggests that his research is mere speculative. It can happen or do otherwise. 3 years is too way ahead to make such assertion at this moment. Many things not taking into considerations will still come to crypto space like taxation, regulation etc. Let's just hope for good to all digital currency and enhance the global adoption

[zeze18]

i am sure that the will be a bull run and it'll come a lot before 2023 .. 2021 or 2020
there is so much hapenning behind the scenes now so it wont take that long

Not just a bull run, i'm sure there will be some shocking news will coming from crypto world that will make a big change from cryptocurrency and there will be hard times from crypto because digital currency is already worldwide right now and there are many big projects that can surpass cryptocurrency

[Darooghe]

Recent logarithmic analysis by analyst Benjamin Cowen suggests that, by 2023, the capitalization of the cryptocurrency market could exceed $11 trillion.

In my opinion, the altcoins bubble has come and gone forever. The bitcoin sidechains will destroy all altcoins. The lambo-mooners looking to get rich quick all arrived very too late and got their pockets drained. there will be no bull run for altcoins, but 10% increases if you’re lucky, followed by 10-20% decreases. It’s been this way for the past 20 months and will continue like this for a long time because altcoins market is still well overpriced, except ethereum. Time to be a realist, I know it’s not what the community wants to hear but it’s time to wake up.

[milewilda]

Recent logarithmic analysis by analyst Benjamin Cowen suggests that, by 2023, the capitalization of the cryptocurrency market could exceed $11 trillion.

In my opinion, the altcoins bubble has come and gone forever. The bitcoin sidechains will destroy all altcoins. The lambo-mooners looking to get rich quick all arrived very too late and got their pockets drained. there will be no bull run for altcoins, but 10% increases if you’re lucky, followed by 10-20% decreases. It’s been this way for the past 20 months and will continue like this for a long time because altcoins market is still well overpriced, except ethereum. Time to be a realist, I know it’s not what the community wants to hear but it’s time to wake up.

I do somewhat agree to this sentiment where its really time to wake up and dont really expect too much that we would see again those lambo or to the moon thing on alts.
Im not saying it wont happen again but chances would really be that slim.Those good old days were gone where anyone is almost celebrating and enjoying profits to its fullest
but we have seen on how the market become and experiencing a long time sideways or even bearish trend.I dont expect on 150x capitalization in 3 years time.

[FLHippy]

That would be a nice scenario but everyone is waiting for McAfee´s prediction: 1 million USD per Bitcoin by the end of 2020.
So still it is a far away from his prediction.   Waiting for the TV show, McAfee  .

[jhongzjhong]

Ahead time it seems it is hard to predict, still, no one knows what will happen at that time in crypto price. But as long as you can hold your crypto assets until that time, it is much better because I'm sure bull run will may occur or probably there is altcoins bubble and Bitcoin will lead and going to the moon. But as I have said, it is unpredictable and no one knows. Let's better to wait and let the time will reveal the truth.

[asriloni]

That would be a nice scenario but everyone is waiting for McAfee´s prediction: 1 million USD per Bitcoin by the end of 2020.
So still it is a far away from his prediction.   Waiting for the TV show, McAfee  .

he knows if his prediction totally a non sense prediction and that's why after created such prediction and mcafee was running away and he never appears again. That such a garbage prediction that always come to create FOMO or to give him the advantage. 1 million prediction and I guess that guy was drunk when he was creating it.