Long term Bitcoin prediction assuming on-chain fees never rise
This is a long term Bitcoin price prediction based on Bitcoin miners making less than $750k in fees per day. Currently they make about $450k per day in fees which has been consistent for a while. I am assuming this number wont go up for a number of reasons: Off-chain scaling, competition from other blockchains perhaps BTC will be banned in more places as well which forces it underground and arguably able to be used less.
You can track how much Bitcoin miners make from fees here cryptofees.info/
tldr In 3 or 4 halvings almost all BTC coins have been mined and miners can probably only make money from on-chain fees. If miners aren't making a lot of money then there wont be a lot of hashrate and the security of the chain will be lower and it probably wont be an attractive store of value which means its marketcap will shrink since the store of value narrative is why most people so far invested in it. But lets see.
You can track how much Bitcoin miners make from fees here cryptofees.info/
tldr In 3 or 4 halvings almost all BTC coins have been mined and miners can probably only make money from on-chain fees. If miners aren't making a lot of money then there wont be a lot of hashrate and the security of the chain will be lower and it probably wont be an attractive store of value which means its marketcap will shrink since the store of value narrative is why most people so far invested in it. But lets see.
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