RATE Group | Will Bitcoin Reach $96,000 By 2023?
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Will Bitcoin Reach $96,000 By 2023?

12 Sep Will Bitcoin Reach $96,000 By 2023?

Posted at 03:18h in Bitcoin News by

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Bitcoin prices could reach $96,000 by 2023, say Satis Group analysts. Credit: Getty Royalty Free

Recently, two analysts from ICO advisory firm Satis Group predicted that bitcoin prices will hit $96,000 in the next five years.

In making this forecast, Sherwin Dowlat, head of research, and Michael Hodapp, research analyst, leveraged fundamental analysis.

“Currently, the vast majority of the total cryptoasset market capitalization is held in traditional store of value markets, with offshore deposits accounting for nearly 40% of the total,” they stated in the report.

Going forward, growth in this market capitalization will come “primarily from increased store of value use case penetration,” the analysts claimed.

Further, they predicted that as custody solutions “come online,” the “penetration” of offshore deposits will increase “dramatically.”

The analysts forecasted that the broader digital currency market would enjoy robust growth, reaching a total…

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