Crypto-currency is gaining traction globally. Bitcoin, a popular crypto-currency, has attracted worldwide attention with its record high trading and an ever-increasing value.
Read: Demystifying bitcoin
Analysis by Dennis Porto, a bitcoin investor and Harvard academic, puts Bitcoin's worth at $100,000 per coin in the next 4 years as long as it follows one of the "golden rules" of tech – Moore's law. Bitcoin hit a record high near $3,500 on Tuesday, only to slip 3.88 percent at $3,296 a day after due to a major change in its software.
Read: Bitcoin, Ether prices wilt, and new questions emerge
But the fluctuation is a minor hiccup for long-term investors.
"Moore's law specifically applied to the number of transistors on a circuit but can be applied to any digital technology. Any technology that is growing exponentially (i.e., 'following Moore's law') has a doubling time," Porto wrote in an email to Business Insider.
"This poses a unique opportunity for investors: Whereas it was difficult to invest in circuits or internet speeds, it is easy to buy a bitcoin," Porto said.
Investment in the paperless, bank-less, and state-less currency certainly sounds like a solid plan, but the $100,000 mark for Bitcoin by 2021 is the best case scenario. But coming months are expected to favour investments in the crypto-currency as Bitcoin is expected to reach as high as $5,000.
Ronnie Moas of Standpoint Research has estimated Bitcoin's price to reach $5,000 in the next five months or by 2018, Quartz reported. Moas optimism in Bitcoin's price increase is promising.
"Before anyone laughs at me for suggesting that something like that could happen—just look at what happened [in bitcoin] in the last five years. People who put in $10,000 made $1 million already. It happened already and I think it will happen one more time. We are in the 15th minute of a 90-minute soccer game—and it could go to overtime," Moas said.
Other analysts also agree with Bitcoin's growth, including Goldman Sachs' Sheba Jafari who said the Bitcoin price curve has already hit four waves and a fifth one is underway. Tom Lee of Fundstrat predicts Bitcoin's price to touch $20,000 to $55,000 in five years.
