Bitcoin’s price continues to prove impossible to forecast — but a rise to $100,000 per coin is becoming a very popular prediction. As digital assets become more widely popular, the original and most popular cryptocurrency will take market share from gold, Goldman Sachs analyst Zach Pandl wrote in a research note to clients on Tuesday. Bitcoin currently has a roughly 20% share of the “store of value” market, Pandl wrote. The “store of value” here refers to how much the investors own of gold for investment purposes plus how much investors own of Bitcoin. Hypothetically, Pandl added, if Bitcoin’s share of that market were to rise to 50% over the next five years, its price would rise to just over $100,000.

Source: Forbes January 05, 2022 17:17 UTC