Altcoin bubble by 2023; capitalization up to 150 times, a research suggests - page 2.

BTCGOLD

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Quote from: wajik-tempe on December 26, 2019, 10:42:22 AM

Quote from: ecnalubma on December 25, 2019, 10:37:27 PM

I will likely to believe in long term predictions than Mcafee’s 1 million per BTC by 2020, but maybe he’s prediction is right who knows. Maybe the halving could contribute for the BTC’s price to get more valuable that could trigger investors to buy more if they are aware of this kind of implementation.

He's already predicting bitcoin price will go to 1 mil since 2018. I really remembered he was so optimistic with bitcoin price after the big pump in 2017 end. Not just him, people around the world especially who already bought some bitcoins are really optimistic about the rise of the cryptocurrency in 2018. But everything is going down, i'm sure that was a game from whales who tricked people with mass media

McAfee prediction was about $1M to the end of 2020:

https://twitter.com/officialmcafee/status/935900326007328768

And in my opinion his prediction is no different from the one in this thread. Any idiot can think of a price and say it out loud. In the cryptocurrency market, nobody can say that they are wrong, because anything can happen here.

wajik-tempe

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Quote from: ecnalubma on December 25, 2019, 10:37:27 PM

I will likely to believe in long term predictions than Mcafee’s 1 million per BTC by 2020, but maybe he’s prediction is right who knows. Maybe the halving could contribute for the BTC’s price to get more valuable that could trigger investors to buy more if they are aware of this kind of implementation.

He's already predicting bitcoin price will go to 1 mil since 2018. I really remembered he was so optimistic with bitcoin price after the big pump in 2017 end. Not just him, people around the world especially who already bought some bitcoins are really optimistic about the rise of the cryptocurrency in 2018. But everything is going down, i'm sure that was a game from whales who tricked people with mass media

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Quote from: pajak666 on December 26, 2019, 07:32:13 AM

Quote from: slaman29 on December 24, 2019, 08:37:34 AM

I always think people way overestimate bitcoin and crypto, and of course they would when their entire fortunes are resting on it. But personally, I think people need to take the lowest extreme scenario and work from that. I mean, 2023 is only 4 years away. $11 trillion in medium case? What is low case? That's what we should be working on first.

Totally true. Although most of us didn't think 5 digits would come so soon after breaking $1000 for the first time. Things can get nasty very quickly when markets are heavily manipulated and not so big volumes can cause massive price movements. Cryptos already made like millions % in 10 years, they could easily continue going exponential for the next 5 or 10 and this would mean enormous gains but 2023 seems a little too early for this kind of behavior.

Bulls are expected to dominate after halving which can continue for a year. If all goes well since the adoption is very much welcome these days, I think 2023 is really too long. 5 digits could happen in less than 3 months and we have seen this mid of this year as well which reaches up to $14k. I even thought it would continue to go up. More people have learned about BTC and crypto since 2017 and for that adoption will be much easy this 2020 and we have more app about it.

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Quote from: slaman29 on December 24, 2019, 08:37:34 AM

I always think people way overestimate bitcoin and crypto, and of course they would when their entire fortunes are resting on it. But personally, I think people need to take the lowest extreme scenario and work from that. I mean, 2023 is only 4 years away. $11 trillion in medium case? What is low case? That's what we should be working on first.

Totally true. Although most of us didn't think 5 digits would come so soon after breaking $1000 for the first time. Things can get nasty very quickly when markets are heavily manipulated and not so big volumes can cause massive price movements. Cryptos already made like millions % in 10 years, they could easily continue going exponential for the next 5 or 10 and this would mean enormous gains but 2023 seems a little too early for this kind of behavior.

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Quote from: alexkamillakroy on December 23, 2019, 09:18:27 PM

Recent logarithmic analysis by analyst Benjamin Cowen suggests that, by 2023, the capitalization of the cryptocurrency market could exceed $11 trillion.

This is "medium case" scenario, while "extreme case" scenario offers the total capitalization of $32 trillion, with prices boost up to 150 times. While Bitcoin exchange rate at this scenario is at ~ $141K for 1 BTC, its total market share will drop to 23%, leaving space for "altcoin bubble" (which is plausible in both scenarios).

The analysis is performed based on weekly data on the price movements of Bitcoin and altcoins.

Source: https://icolink.com/ico-news/benjamin-cowen-predicts-a-cryptocurrency-bubble.html

What do you think? Will altcoins be the future of the cryptocurrency market, or is it too distant and insignificant future to consider? Is the market too volatile for any sort of longterm predictions, or does it sound plausible to take into account such researches while investing?

That's pretty conservative, i am expecting 500x or more total altcoin bubble next from current numbers. Imho people will fomo in on last stages and there will be a lot of those who don't understand the market cap valuation, they just see "cheap coins" like last time and they will probably buy the top.

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Quote from: alexkamillakroy on December 23, 2019, 09:18:27 PM

What do you think? Will altcoins be the future of the cryptocurrency market, or is it too distant and insignificant future to consider? Is the market too volatile for any sort of longterm predictions, or does it sound plausible to take into account such researches while investing?

though this is a very positive and really love to read article yet this may cause misleading and over expectation .

imagine for just 3 years we will be seeing 10's of trillions of dollars in market capitalization?i don't thing we will be seeing that high this soon though this is only my opinion as i am not a expert.

How i wish this will come true as i can afford to hold my bitcoins that long,and i can also wait even for longer if this will really happen in future

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Quote from: ecnalubma on December 25, 2019, 10:37:27 PM

I will likely to believe in long term predictions than Mcafee’s 1 million per BTC by 2020, but maybe he’s prediction is right who knows. Maybe the halving could contribute for the BTC’s price to get more valuable that could trigger investors to buy more if they are aware of this kind of implementation.

The fact is that no one believes McAfee forecasts and it is not clear to me why his statements in relation to cryptocurrency are published. But how much can it influence the current situation on the cryptocurrency market, because cryptocurrencies are unreasonably believed by any negative statement of users? But no matter how I treat empty phrases, I like the words of this person, who suggests that Bitcoin will increase in price by 250 times and the process will begin in 2020.

ecnalubma

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I will likely to believe in long term predictions than Mcafee’s 1 million per BTC by 2020, but maybe he’s prediction is right who knows. Maybe the halving could contribute for the BTC’s price to get more valuable that could trigger investors to buy more if they are aware of this kind of implementation.

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Quote from: Oceat on December 25, 2019, 12:59:04 PM

Quote from: BChydro on December 25, 2019, 11:20:56 AM

Quote from: ubercool on December 25, 2019, 09:24:14 AM

I would agree to most of the analysis and can say that if blockchain implementation is started then new Altcoins will be born and they'll have use cases accordingly. An Altcoin bubble may be definitely a logical thing.

What is the point in having different alt coins, we need just one coins to transact globally and we have bitcoin for that, the market will not flourish if we have a thousand alt coins to do different things and once we find a proper scaling solution i am sure all these situation will change and if the capitalization has to reach the trillion dollar it has to come from bitcoin investment and not from any other coin.

Well, Bitcoin is not just for trading or payment use for services it is also use as an investment asset. Investing in more cryptocurrency is basically just important if you are afraid to invest all of your money alone in Bitcoin only. Altcoins do exist because they tried to be like or as an alternative for Bitcoin to be used also in trading.

Alts had been created for various reasons;

-Trying to compensate on what Bitcoin do lacks when it comes to features.
-Alt owners trying to get some marketshare on creating their new coin.

But it doesnt mean that it would able to bubble up its capitalization on that high.There would be a
season for sure but same as said that going to those numbers is unreal.

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Quote from: BChydro on December 25, 2019, 11:20:56 AM

Quote from: ubercool on December 25, 2019, 09:24:14 AM

I would agree to most of the analysis and can say that if blockchain implementation is started then new Altcoins will be born and they'll have use cases accordingly. An Altcoin bubble may be definitely a logical thing.

What is the point in having different alt coins, we need just one coins to transact globally and we have bitcoin for that, the market will not flourish if we have a thousand alt coins to do different things and once we find a proper scaling solution i am sure all these situation will change and if the capitalization has to reach the trillion dollar it has to come from bitcoin investment and not from any other coin.

Well, Bitcoin is not just for trading or payment use for services it is also use as an investment asset. Investing in more cryptocurrency is basically just important if you are afraid to invest all of your money alone in Bitcoin only. Altcoins do exist because they tried to be like or as an alternative for Bitcoin to be used also in trading.

BTCGOLD

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Benjamin Cowen has used the logarithmic analysis but the market doesn't act always with logic, the emotions drive the market. Single FUD can wipe out the gains of the bull market in a day, that's why I never believe in the scientific research-based analyses. In 4 years, the crypto market will explode with the cash flow from other financial markets but $23 trillion looks a bit unrealistic.

For me, these analyzes are completely absurd and I would not call them scientific. Not only FUD can change the price future. In my opinion, it is more likely that a scientific discovery will completely change the future of cryptocurrencies. It is enough if it turns out that quantum computers are a threat to blockchein and that will be the end.

enhu

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Something you wouldn't really believe until it happen 23% dominance for BTC is just mad when all we are dealing today are for BTC. Currently 68% so why would it shoot up to $140K if its dominance will just be 23%. The possible reason is if there is a new token that will dominate and are widely known already by the people on the internet.

But why would it take 4 more years from now, halving will happen in the next few months. Many expects the bullrun will happen after 6 months.

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Quote from: Pelunize12 on December 25, 2019, 02:04:50 AM

Quote from: ashmodeus on December 24, 2019, 11:03:19 AM

well , that a huge prediction , i mean if that really happen , actually we will see some signal as the time goes, i mean , ok we cant say that prediction is wrong or true, but if it going to be true , price , domination of bitcoin , must be raising every year.
but now , i cant see any signal about it.

if we compare Bitcoin with others assets, it would still be smaller. so, it is very possible to get crazy pump
and remember that Bitcoin can pump very fast, looking at end 2017
so, it doesn't take raising every year for getting crazy pump

of course its not , don't even think if smaller than bitcoin it can have a massive pump, theoretically smaller means that is unpopular than bitcoin, and that mean that have low interest , how u think a coins with have low interest by people have a high pump ?

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Quote from: ubercool on December 25, 2019, 09:24:14 AM

I would agree to most of the analysis and can say that if blockchain implementation is started then new Altcoins will be born and they'll have use cases accordingly. An Altcoin bubble may be definitely a logical thing.

What is the point in having different alt coins, we need just one coins to transact globally and we have bitcoin for that, the market will not flourish if we have a thousand alt coins to do different things and once we find a proper scaling solution i am sure all these situation will change and if the capitalization has to reach the trillion dollar it has to come from bitcoin investment and not from any other coin.

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Quote from: ubercool on December 25, 2019, 09:24:14 AM

I would agree to most of the analysis and can say that if blockchain implementation is started then new Altcoins will be born and they'll have use cases accordingly. An Altcoin bubble may be definitely a logical thing.

The fact that is happening right now if there is no a lot of altcoins are having use cases. The blockchain implementation already happened since bitcoin was born but almos 10 years have passed and there is not altcoin that has a real usecase and only some used its own platforms.

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I would agree to most of the analysis and can say that if blockchain implementation is started then new Altcoins will be born and they'll have use cases accordingly. An Altcoin bubble may be definitely a logical thing.

Adriano2010

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I think they might be right but now we depend a lot of what governments will do until that year which can affect hte crypto much or less, all depends if they put a lot of tax for crypto and if they will ask exchange to put all customer to make KYC to use them, hope will not be the case and on this way we can have a good grow in price for crypto.

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Quote from: Pelunize12 on December 25, 2019, 02:04:50 AM

Quote from: ashmodeus on December 24, 2019, 11:03:19 AM

well , that a huge prediction , i mean if that really happen , actually we will see some signal as the time goes, i mean , ok we cant say that prediction is wrong or true, but if it going to be true , price , domination of bitcoin , must be raising every year.
but now , i cant see any signal about it.

if we compare Bitcoin with others assets, it would still be smaller. so, it is very possible to get crazy pump
and remember that Bitcoin can pump very fast, looking at end 2017
so, it doesn't take raising every year for getting crazy pump

You are right, every year there won't be a crazy pump. because indeed if we wait for the pump to come on the crypto market then we must be patient. bitcoin still has many opportunities to develop and is used as the best investment asset. at that time we will not be able to determine when we can only try to remain confident and patient. if we cannot wait to invest long term we can try investing short term or with daily trading. with such busyness, we will enjoy analyzing every movement of assets that we have in the market.

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I think it's too much if we talk about 2023, whereas 2020 hasn't even begun. what we need to know is the potential for the coming year in 2020, because after all we are definitely looking for profit from now until 2020 to sustain our living costs. the most important thing is we look for profit for next year not for 2023.

as time goes by let alone answered, do not always dream for something that is not certain, especially if you talk about the year 2023.

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Quote from: ashmodeus on December 24, 2019, 11:03:19 AM

well , that a huge prediction , i mean if that really happen , actually we will see some signal as the time goes, i mean , ok we cant say that prediction is wrong or true, but if it going to be true , price , domination of bitcoin , must be raising every year.
but now , i cant see any signal about it.

if we compare Bitcoin with others assets, it would still be smaller. so, it is very possible to get crazy pump
and remember that Bitcoin can pump very fast, looking at end 2017
so, it doesn't take raising every year for getting crazy pump

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