Bitcoin $250000 by 2020 if the seven year trend continues

ronypro

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Quote from: asmythirl on October 21, 2017, 12:54:16 PM

BitGo Software Engineer Jameson Lopp revealed that if the seven-year trend of Bitcoin price continues, Bitcoin will be valued at around $250,000 by 2020.

Lopp calculated the seven-year trend of Bitcoin price based on daily value change. With the exception of 2014, which was affected by the downfall of now-defunct Mt. Gox, Bitcoin has continuously recorded positive daily value change since 2010.

Bitcoin average DAILY value change:
2010: +0.82%
2011: +0.76%
2012: +0.26%
2013: +1.11%
2014: -0.25%
2015: +0.09%
2016: +0.22%
2017: +0.66%

https://cointelegraph.com/news/bitcoin-price-will-hit-250000-by-2020-if-seven-year-trend-continues

Yes you are some what correct.
but I donot think bitcoins worth would be that much.ever cause you have also consider the total volume in circulation.
and multiply that with the number you think bitcoins value would be.
We in world doesnot have that much of wealth to put in to any currency.
so its not possible.

eagleman

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This is even realistic than John McAfee says about bitcoin 3 years from now. He said that it will be reaching $500,000 I want that to happen but I'm very skeptic to it and I doubt that it will happen. $250,000 is a better hope for the price of bitcoin on 2020. That's very sweet if that happens, I would go for any of them, whether the price reaches $50,000 or just $10,000 for the next years. This is making me crazy computing on the possible profit that we can get.

drwhobox

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- hello doctor who box

What happend from 2014 can actually repeat in 2018 nor 2020. And the fees would be soo high for Bitcoin to reach that price point it would cost us 400 usd just to send 50 usd to another person. My biggest prediction is bitcoin would be worth 10,000$ at 2020.

SimonJones

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Quote from: odolvlobo on October 21, 2017, 01:00:57 PM

Exponential growth forever is a fallacy.

What are you talking about? Real exponential growth is yet to come.

MNDan

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Reminds me of how tough 2014 was to swallow. Stuck with it. Profits...

GetOutOfMyLife

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$50.000 is impossible instead of $250.000.. This topic https://bitcointalksearch.org/topic/report-bitcoin-to-25000-by-2022-2322183 maybe can happen.. 250k dollar per 1BTC - OK, so expensive bitcoin.. and i can use 1 satoshies to have my bread and 100 satoshies to have bicycle... BTC will the most expensive good for monetary markets as BTC is first successfull cryptocurrency =))... LOL.. I think we will abandon use BTC at this time

Omega Weapon

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Quote from: PortoDark on October 22, 2017, 12:57:33 AM

Bitcoin is sound money, and we've got some zeros until fiat is replaced. After that the effects will be much more drastic than industrial revolution, and economy, thus bitcoin value, will still continue growing at a fast pace.

Those who believe in a roof don't see the economic truth of sound money.

Fiat is a lie, it can't last forever.

This is something that I agree, the fiat system as it is working right now has not lasted 50 years and it is already showing signs of its imminent failure, we need to return to sound money, gold will be the most popular choice but bitcoin is going to also be the choice of many that do not trust the governments of the world are going to keep their fiat pegged to gold for a long time.

Asrael999

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To all the people saying this is impossible, now imagine it’s January 13 the price of bitcoin is around $15 and price growth is anaemic and someone then says to you ,” within the next 5 years bitcoin will have hit $6000.” They’re nuts right ?

Is it harder to get from $5.7k to $250k, yes it is (personally I think it’s a factor of 10 to high - however it’s not far off the implied BETI if you look at the bitcoin exponential price thread) and it will require adoption to continue to increase at the same rate - but that’s the network effect, if more people use bitcoin, then even more people will use bitcoin, it comes down to where you think the S Curve starts to level off. At $250,000 a bitcoin you can can still buy 4 satoshi for one cent- and that’s a bargain Wink

Cacingkemi

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Are you delirious 250K it I think is impossible,too many people are holding on BTC.you see 2014 could happen in the year 2019 this,I think is impossible because before rising 10K course people think to sell.But my opinion could be wrong,I hope best for BTC hopefully achieved 250K Grin

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hello_good_sir

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It is possible, especially if fiat currencies collapse.

The fiat debt bubble simply cannot continue forever and when it collapses people will seek a safe haven to put their money in - in my opinion, this is going to be bitcoin since it is the most convenient and accessible asset that is also a store of value.

However, it probably won't happen. If given another 2 decades though, btc can achieve this easily.

Mr.grin

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well, it's 3 more years until 2020. I think the price is so high. I felt that the bitcoin price was not far from the $ 10,000 price at the time. well, but I always hope something good happens, because I will also keep bitcoin for a long time.

alisafidel58

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Theres so much exaggeration with this post,i dont think it will ever reach that price, $250000 by 2020 is kinda hype for me.
There will also be a lot of reason that the price of bitcoin might go down,who know lets see it the future.

Epimetheus

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Quote from: asmythirl on October 21, 2017, 12:54:16 PM

BitGo Software Engineer Jameson Lopp revealed that if the seven-year trend of Bitcoin price continues, Bitcoin will be valued at around $250,000 by 2020.

Lopp calculated the seven-year trend of Bitcoin price based on daily value change. With the exception of 2014, which was affected by the downfall of now-defunct Mt. Gox, Bitcoin has continuously recorded positive daily value change since 2010.

Bitcoin average DAILY value change:
2010: +0.82%
2011: +0.76%
2012: +0.26%
2013: +1.11%
2014: -0.25%
2015: +0.09%
2016: +0.22%
2017: +0.66%

https://cointelegraph.com/news/bitcoin-price-will-hit-250000-by-2020-if-seven-year-trend-continues

It's very promising that bitcoin would reach $250000 by the end of 2020 and if that's possible then every bitcoin holder would buy at least one Lamborghini with their coins and it's also one of my dreams which I want to make real, so I can hold on to my coins very tight at least till 2020.

Izarok

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That just ridiculous! $250000 by 2020 is just way too much. I'm speculating the price by would be $15000-20000 if the trend keeps going. An exponential increase is just not that possible considering various reason such as fork, FUD and dump.

Kronos21

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Nobody really can say what will be the price even after 1 year. Such assumptions cannot be worthwhile because bitcoin is too sensitive to external factors and is not predictable. What will happen to bitcoin price if the US and China will combine their efforts in the fight against cryptocurrency. Price can not always grow it's just that I can tell.

wuvdoll

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Quote from: maku on October 22, 2017, 11:30:32 AM

Some of my thoughts:
1. While I am aware that bitcoin price won't be rising indefinitely, I am also sure that current value is not the final.
2. We will see higher price in the future - the only minor problem is the right assessment of price trends.
3. Using purely mathematical formulas to extrapolate the ultimate future bitcoin price is kinda too random for me.
4. Some of really well-known investors seem to share this idea of crazy high bitcoin price - i.e John McAfee.

That is obviously a crazy value in thirteen years time obviously and like you said, we cannot just use general mathematics to just make assumptions since there are so many factors in between that can affect the value of the digital currency even before that seven years (either negative or positive). We still have many huge highs to come obviously, but there are just some speculations that are obviously just ridiculous like this one.

el kaka22

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Quote from: Kyraishi on October 23, 2017, 04:12:16 AM

This is probably not going to happen. The growth that we have seen have all come from an inflood of new investors - the percentage increase of which probably will not stay up to current levels or as high a level as currently.

I'd say that 2020, we may see $15-20k per bitcoin but $250000 is quite ridiculous.

BTC will take abreak before jumping back up again.

That break is surely something we should expect, however, we have not really had much investors yet as far as I am concerned, and there is the possibility of much more awareness being created in upcoming years than we have had this year. So, if we put all that together, I might have to disagree with the $15000 - $20000 by 2020 as being too small to what could be realistic eventually.

We cannot know what is coming and can only assume anyway, and predict based on what is on ground presently as no one knows the future.

posi

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I'm glad for this optimistic prediction made by Jameson Lopp (BitGo Software Engineer) and if we take a closer look at bitcoin price movement per year, the chance for bitcoin to reach $250,000 in the year 2020 is 85% . Besides, when it Jun 2020 another bitcoin halving will occur which could lead to double up in price of bitcoin.

thejaytiesto

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Quote from: lanyounanhai on October 23, 2017, 08:53:53 AM

LOL. There is no way bitcoin can reach $250000 by 2020 due to many reasons. First of all, bitcoin is not a type of money and it can not supply all the people on this planet. Seconds, the fee is always an important issue. If bitcoin is $250000, the fee will be extremely high and no one will use bitcoin. IN the future, bitcoin can increase very high, but it can not cross $100000

You don't need all the people on this planet to use bitcoin to reach 6 figures pretty soon, you just need the rich people of the world to diversify their portfolios and add a small % of it on bitcoin, and ledger-x is a start for this exponential growth to take place without average joes getting into bitcoin.

lanyounanhai

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LOL. There is no way bitcoin can reach $250000 by 2020 due to many reasons. First of all, bitcoin is not a type of money and it can not supply all the people on this planet. Seconds, the fee is always an important issue. If bitcoin is $250000, the fee will be extremely high and no one will use bitcoin. IN the future, bitcoin can increase very high, but it can not cross $100000

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