Topic: 9 Reasons Bitcoin Could Hit $100,000 Or More - page 2. (Read 114 times)
I have been reading and hearing of the same reasons (and even more) why Bitcoin will be so valuable (as if it is not yet that valuable today) like hitting the $100K level soon or even some years from now it can be at least a million dollar in price. Yeah, although am not yet tired of hearing the same type of prediction we also have to consider the realities present in the market. Cryptocurrency is partly a magic wand but that wand has also its own limitation -- calling Harry Potter to send his own wand here-- and so right now Bitcoin has to face the court of reality though I am sure it can be able to survive and flourish but outrageous predictions like this may not be helping people to get to know more on Bitcoin but will only induce more speculations (though am not actually complaining!).
I'll give you 1 reason why it's guaranteed to hit $100, 000+ at some point.
Look at the Currency of Zimbabwe.
Let the government print out your cash, and the same damn thing will happen in the western world. A loaf of bread was 50 cents at 1 point.
That loaf of bread did not Gain any value...... Your money lost ITS value...
Look at the Currency of Zimbabwe.
Let the government print out your cash, and the same damn thing will happen in the western world. A loaf of bread was 50 cents at 1 point.
That loaf of bread did not Gain any value...... Your money lost ITS value...
Number of Bitcoins in circulation
First mover, network effect and media exposure
What is unique to Bitcoin vs. other CCs is that it was the first one invented, gained acceptance by investors and businesses and has received the most media attention. New companies have formed to support and trade it, which has led others to take notice and try and cash in on the hype.
Since there isn’t anything physically attributable to Bitcoin having these qualities has been a huge help for it to gain traction. I am counting these three as one reason as they have a synergistic effect on each other and help create demand.
FOMO or Fear of missing out
The fear of missing out or FOMO has helped to create a lemming effect. Investors don’t
https://community.bitzamp.com/view.php?permlink=9-reasons-bitcoin-could-hit-100000-or-more&id=458205
First mover, network effect and media exposure
What is unique to Bitcoin vs. other CCs is that it was the first one invented, gained acceptance by investors and businesses and has received the most media attention. New companies have formed to support and trade it, which has led others to take notice and try and cash in on the hype.
Since there isn’t anything physically attributable to Bitcoin having these qualities has been a huge help for it to gain traction. I am counting these three as one reason as they have a synergistic effect on each other and help create demand.
FOMO or Fear of missing out
The fear of missing out or FOMO has helped to create a lemming effect. Investors don’t
https://community.bitzamp.com/view.php?permlink=9-reasons-bitcoin-could-hit-100000-or-more&id=458205
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