2020 is after the next halving, so it’s probably going to be insanely high, 100K minimum.
But if Bitcoin keeps growing with an average of +0.42% per day, the same as it has done in the past 7 years. It should be around 250k in 3 years.
According to analysis by Dennis Porto, a bitcoin investor and Harvard academic, bitcoin's price could hit $100,000 per coin if it continues to follow one of tech's "golden rules" — Moore's law.
The rule, which was devised in 1965 by Intel cofounder Gordon Moore, describes the exponential improvements of digital technology.
"Moore's law specifically applied to the number of transistors on a circuit but can be applied to any digital technology," Porto wrote in an email to Business Insider. "Any technology that is growing exponentially (i.e., 'following Moore's law') has a doubling time."
Typically, however, the rule applies to a technology's computing power or capabilities. This is the first time Porto has noticed a technology's price following Moore's law.
Since bitcoin's inception, according to Porto, its price has doubled every eight months.
"This poses a unique opportunity for investors: Whereas it was difficult to invest in circuits or internet speeds, it is easy to buy a bitcoin," Porto said.
Porto expects that this doubling trend could continue until bitcoin reaches mass adoption. Of course, another cryptocurrency could usurp bitcoin in the meantime.
By February 2021, Porto believes, it could be worth over $100,000.
