AI-generated projections. Bitcoin's price follows a power law of time since genesis, and hashrate growth decelerates from ~45%/yr toward a ~20%/yr long-run floor. Random shocks simulated thousands of times map out the range of possible futures for hashprice.
Post-2032 fees — modeled as a fixed 5% of block subsidy — will become the dominant revenue driver and are highly uncertain. The model skews optimistic if hashrate outpaces expectations, pessimistic if BTC drifts from its historical trend.