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Cryptocurrency Analyst: Similar to the astonishing surge in Netflix stock, Bitcoin is poised to reach $100,000.

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Cryptocurrency Analyst: Similar to the astonishing surge in Netflix stock, Bitcoin is poised to reach $100,000.

Bitcoin has been on the rise since the beginning of the year, reaching a yearly high of $13,725 in June. Despite a subsequent downward trend, it still has the potential to end the year at a price double that of the same period last year. Cryptocurrency analyst Josh Rager also believes that its long-term trend remains strong and may continue to grow in the coming years.

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Bitcoin Year-on-Year Growth Exceeds 90%

During last Christmas, the price of Bitcoin was around $3,800, marking a brutal bear market for the crypto community, plummeting over 80% from its all-time high in 2017.

However, this year, amidst poor performance of other competing coins, Bitcoin has surged over 90%, with its lows getting higher. A report suggests that if the current trend continues and a bull market emerges post-halving, next year's lows could reach five figures.

Crypto analyst and founder of trading education platform Blockroots, Josh Rager, stated that compared to stocks, Bitcoin has the potential for greater returns in the coming years. He tweeted:

While these stocks have had amazing returns, it's possible to see similar returns with Bitcoin, even at the current price of $7,000. The potential upside could help Bitcoin rise to between $75,000 and $100,000 in the next few years.

https://twitter.com/Josh_Rager/status/1209353053805203456?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1209353053805203456&ref_url=https%3A%2F%2Fbitcoinist.com%2Fwhy-bitcoin-will-generate-1000-returns-in-the-next-few-years%2F

Blocktown Capital Managing Partner, James Todaro, also shared a video showing Bitcoin outperforming all top stocks in 2019, remaining the best-performing asset over the past decade.

In just a few short years, Bitcoin has transitioned from a geeky experimental game among enthusiasts to handling $3 billion worth of crypto assets daily.

Many analysts predict that 2020 will see new all-time highs, especially with the FOMO sentiment brewing as Bitcoin's halving approaches. A recently scrutinized Bitcoin production flow model indicates a price around $50,000 next year.

According to Spencer Bogart, partner at venture firm Blockchain Capital, next year will see vertical development and mark the fifth era for Bitcoin and cryptocurrencies:

  • 2009 – 2011: Bitcoin not working properly
  • 2012 – 2013: Tulip fever and crime
  • 2014 – 2016: Blockchain, not Bitcoin
  • 2017 – 2019: Horizontal expansion
  • 2020 – >: Vertical development

If Spencer Bogart's view holds true, and attention from investors and developers indeed shifts back to the development of the Bitcoin and Ethereum networks, 2020 could be a year of substantial returns for investors.

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