Bitcoin 'will soar to $144k in 10 years'
A newly published report has predicted that the price of Bitcoin will surge drastically to almost $144,000 by 2028.
Despite the recent market downtrend, cryptocurrency and ICO advisory firm Satis Group expects the price of BTC to grow from its current $7,000 to almost $33,000 next year, higher than its all-time record of $20,000 in December 2017.
According to the "Cryptoasset Market Coverage Initiation: Valuation" report, Bitcoin's value will jump to nearly $72,000 in three years while its price may reach $143,900 in 2028.
The report acknowledged that Ethereum (ETH) boasts a "strong community", but predicts that it will lose steam and grow from its current price of $292 to only $588 in 2028.
Similarly, it believes that Ripple (XRP) will fall in value from $0.3 to $0.004.
Meanwhile, Monero (XMR) is expected to enjoy growth of 38,391 per cent in the next decade, rising from its current value of $103 to $39,584.
The report states: "Within the Currency networks, we continue to see upside in networks that have cultivated relatively organic growth and community (such as LTC), meaningful downside from networks that have inherited brand recognition and potentially short-lived adoption during hiccups from their fork-parent (such as BCH), and very little value in networks that are misleadingly marketed and not even required for use within their own network (such as XRP)."
The firm went on to say that despite its "lack of appeal" during retail frenzies, Bitcoin and its network effect will "dominate end-market share" within currencies and the overall cryptoasset market.