Can the Pi network reach $1,000?
A lot of people say more than $1000 per Pi is impossible, but I'd say "not impossible". However, I think there should be some prerequisites for this.
Global cash inflation must continue.
Cash flow must flow back into the cryptocurrency market.
The mainnet of the Pi Network must be completed.
At least over 3 years must have passed.
First of all, for 1 and 2, that's probably how it goes. In the United States, inflation has grown by around 35% over the past decade, with similar increases worldwide. There has been an exceptionally high rate of increase in the last two years due to COVID-19, so it is likely that the pace will subside once this normalizes. But basically, it is clear that the value of cash will continue to decline.
If the cash value continues to decline, capital will inevitably move elsewhere. The problem is that once COVID-19 subsides, the Federal Reserve will cut back on the quantitative easing it has been implementing. I don't know when that day will come, but it will definitely come.
When that happens, the stock market will surely fall and capital will move to safe assets such as bonds. Cryptocurrency is not recognized as a safe asset, but capital is likely to move here for other reasons.
Simply put, in the long run, there will come a time when cash flows will flow back into the cryptocurrency market, and at this time, the market capitalization of representative virtual currencies such as Bitcoin will grow.
The Pi Network has plenty of potential to overtake Bitcoin, but many are still skeptical of this. So, it is assumed that Bitcoin will continue to be the representative of the cryptocurrency market in the future. And even from that point of view, the growth prospects for the Pi Network are also higher due to the increase in the market capitalization of the entire cryptocurrency market.
Already, the Pi Network has grounds for projecting over $400 per Pi. Of course, there is still insufficient evidence for this. You can view the Pi's price prediction by visiting my Quora space link at the end of this answer. 1Pi currently has various predictions from $1 to $400 or more.
And in order to reach $1000 for 1Pi, other conditions are also required, one of which is that Pi Network's mainnet entry must be successfully completed. Fortunately, this is predicted to be successful. This is because the Pi Network is scheduled to enter the Mainnet in the 4Q of 2021, and all of the tests for it were successful.
Therefore, you can say "it will all be like that" for 1 ~3 mentioned above. All you need is "time" for this to happen. I did not say without any basis that it would take more than three years. Pi Network's entry into the mainnet, the completion of the actual wallet, and macroeconomic conditions are also taken into consideration. So overall, I think if a 1Pi really hits $1000 or more, it will take at least three years.
But most importantly, reaching $1000 per Pi is not impossible. Even expert “Michael hunt”, who currently has over 50,000 followers, predicts the long-term value of 1Pi at a whopping $7,000. If you would like to learn how to join the Pi Network or for more information