Bitcoin price going Up - (Charts) Brace yourself for a big surprise. A recent prediction by Jeremy Liew and Peter Smith puts Bitcoin price in 2030 at $500,000

A recent prediction by Jeremy Liew and Peter Smith puts Bitcoin price in 2030 at $500,000

Bitcoin has presented itself as an ideal alternative financial system capable of offering various services to the unbanked and the underbanked. The increasing mobile penetration in developing nations makes it easier for such services to reach the deserving population. The duo estimate Bitcoin transactions to make up for 50 percent of total mobile phone based transactions in the coming years.

Few important numbers presented by the publication, as per the inputs received from Jeremy Liew and Peter Smith puts Bitcoin Network growth at 6100% by 2030, which is close to the 5400% growth experienced since 2013. With over 20 million Bitcoin in circulation during that time combined with a drastic rise in community members, the demand for cryptocurrency will be at an all-time high in 2030. In such a scenario, Bitcoin price at $500,000 is plausible.

However, the rise in Bitcoin price has other dependencies as well. These dependencies include network scalability, the growth of other altcoins which might present themselves as a viable alternative of Bitcoin for payments, and more. The current rate at which Bitcoin network is being scaled leaves a lot to be desired. But if everything goes smoothly, then there might be an ounce of reality in the latest Bitcoin Price prophecy.