The bitcoin price has been relatively stable in recent weeks. In the last month, the cryptocurrency has not once been traded for less than $10,000 – but the price has also not exceeded $11,000, numbers from Coinmarketcap shows.
What this is due to is of course difficult to say. But in a new analysis from the American financial media company Bloomberg, bitcoin has probably not seen its last bull market.
“Bitcoin has the ability to add zeros to its price”
The report, published in the company’s cryptocurrency newsletter on Monday, is written by analyst Mike McGlone.
In the text, he states that bitcoin has an ability to add zeros to its price, and refers to the fact that the cryptocurrency was traded for $10 as late as 2011 and that it took it about four years to go from $1,000 to $10,000.
$100,000 in 2025
However, the step to $100,000, says Mike McGlone, may take a while.
He speculates that a more mature market will take about twice as long to add a zero to the price – which would mean that a bitcoin will not be traded for $100,000 until 2025.
In his analysis, Mike McGlone also writes that bitcoin may lose all its value in the next few years – a hedge that is probably smart considering how wrong some previous price prophets have been about the price of the cryptocurrency.
