July 21, 2024
Bitcoin News

Former Physics Professor Unveils Bold Prediction for Bitcoin Price

Renowned former physics professor Giovanni Santostasi has resurfaced with intriguing insights into his “power law” model, forecasting a staggering $10 million per Bitcoin by 2045. Santostasi’s power law, a mathematical relationship, draws parallels with various natural phenomena, including earthquakes and stock market dynamics.

Originally introduced in the r/Bitcoin subreddit back in 2018, Santostasi’s power law gained renewed attention in January after finance YouTuber Andrei Jeikh highlighted it to his substantial audience of 2.3 million subscribers.

Santostasi’s model predicts a pinnacle of $210,000 for Bitcoin in January 2026, followed by a subsequent dip to $60,000. In a recent conversation with mathematician and Bitcoin investor Fred Krueger on March 2, Santostasi argued that the power law model offers a more comprehensible and predictable understanding of Bitcoin’s long-term price movements, contrasting it with the often “messy” and inaccurate short-term charts presented by mainstream media.

Explaining the distinction, Santostasi emphasized the significance of using a logarithmic scale. “The linear chart that they usually show on TV… looks messy. But when you take the log of the y-axis, and you start to see some regularity there, it doesn’t look that messy, it looks like a very nice pattern.”

Unlike the controversial stock-to-flow model, Santostasi’s power law is logarithmic rather than exponential. This characteristic enables the model to accommodate significant price fluctuations, such as those observed between 2020 and 2023.

In a follow-up post on March 3, Fred Krueger delved into further mathematical modeling of the power law, predicting a Bitcoin price of $100,000 within the next two years. Krueger proposed that if Bitcoin adheres to the power law model, its market cap will surpass that of gold by 2033, with each Bitcoin valued at a staggering $1 million.

Prediction showing Bitcoin price of $10 million by 2045, according to Krueger’s modelling of the power law. Source: XFred Krueger

While Santostasi and Krueger express confidence in the power law model, critics remain skeptical, asserting that any mathematical model is susceptible to substantial errors and fails to account for unpredictable events that could significantly impact Bitcoin’s price.

Image by freepik

Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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