Bitcoin Price Could Soar to $230,000 by 2035, Says Long-Term Analysis

Ned Davis Research has made long-term projections for Bitcoin's price, suggesting it could reach $170,000 by 2030 and $230,000 by 2035. The analysis, led by Chief Alternatives Strategist John LaForge, focuses on network adoption as the key driver of future value.

LaForge outlined seven valuation methods, but prefers one that treats expanding user adoption as the decisive factor in Bitcoin's price appreciation. This approach puts demand at the center of the debate, rather than scarcity alone. The researcher argues that price targets based solely on supply constraints may be overly optimistic if demand does not expand forcefully enough.

The current price of Bitcoin near $76,300 is almost identical to the Q2 production cost for listed miners reported by CoinShares, which was around $75,500 per Bitcoin. This has significant implications for mining economics and could potentially squeeze mining companies.