Launched nearly 12 years ago, Bitcoin (BTC) is known for its often volatile market cycles. Though some feel that Bitcoin’s position as a store of value keeps these cycles fairly consistent, Rob Viglione, co-founder and CEO of Horizen, disagrees.
“The only consistent thing about Bitcoin and crypto markets is a large degree of uncertainty,” Viglione told Cointelegraph. “We’re witnessing, in real-time, the birth of an industry, the birth of a new monetary system, and the birth of a new peer-to-peer economy; creating a new world is messy business.”
Bitcoin is decentralized, borderless, and untied to any government. Holders can send and receive it quickly, as well as pseudonymously. It also touts a finite maximum supply, listed publicly. Based on its code, the coin automatically decreases the amount of new Bitcoin entering the ecosystem every four years until the full supply has hit circulation.
Analyst PlanB built a stock-to-flow model projecting future prices for Bitcoin…