A Harvard investor and scholar made an analysis of bitcoin price growth, in which he observed a behavior that follows the "Moore's Law," stating that if the first criptomoneda maintained its bullish trend could reach a value of $ 100,000 for the Year 2021.
According to the analysis of Dennis Porto, criptomonedas investor and graduate of Harvard, the price of bitcoin from its beginnings has been increasing twice every 8 months. This behavior maintains an exponential tendency in its growth, for that reason it affirms that it describes the "Law of Moore".
"Moore's Law" was born as a practical appreciation of Intel's co-founder, Gordon E. Moore, who stated that "every two years the number of transistors in a microprocessor doubles," that is, electronic circuits. From this statement, it has been taken as a "law" that describes the advance of digital technology then.
As explained, it is generally applied to technologies related to processing power or computational capacity; Even so, Porto points out that it is the first time that it observes that the price of a technology follows this "law", as reflected in its graph.
At the end of his analysis he states that "this tendency will continue until it reaches its massive adoption" and clarifies "that until then it is possible that another cryptomoneda may take its place".
Although the analysis of Porto is compared to a badly considered "law", since it is not a scientific law but an observation of the development of technology, it is not among the first analysts to predict a rather encouraging future for bitcoin, as it is The case of journalist Max Keizer who predicts it will reach $ 5,000 by the end of this year.
This vision is beginning to be shared even with large banks like Goldman Sachs who are beginning to recommend to their investor clients to take it into account as an investment. Even when watching the facts, such as the one presented today, when bitcoin is so close to a new historical high at its price of $ 3,600.
All this behavior of the various players present in the bitcoin market can be motivated to block and thus to the confirmation of Segwit as bitcoin scalability solution, which can make it a safer network with lower commissions and faster than What is it. As well as greater interest from people close to the Russian government, to generate a large development of bitcoin mining in that country, able to rival China's mining pool. There are many factors that must be taken into account, which generally see a great future for Bitcoin.