Bitcoin $318K by December 2021 - page 5.

Akiko

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Quote from: ValerieChristaldi on November 17, 2020, 04:14:27 AM

I know that some people believe BTC can achieve much more than we have seen till this far. Just in 1 month the BTC went from somewhere around $11K to +$16K today.

CitiBank Managing Director believes BTC can touch $318K by December 2021. What do you think? Is this really possible?

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CitiBank Managing Director Says Bitcoin (BTC) Can Touch $318K By December 2021

That price is too much for me, if it's really possible to happen we should see the price jn $50k by the end of this year then that 300k$ in December 2021 is possible to happen.

As long as I don't see it , I will never believe in this prediction , well if that's really happen it's still good news for us that holding Bitcoin until now.

Vishnu.Reang

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That's too much my friend, by the span of only 1 year? that is good to be true maybe double the current price in the market will be possible but about that high, I don't think so. I'm sure most of the users in the community have the same view as mine. The problem with that it is only mere speculation nothing strong evidence which let you think that would really happen after 1 year and a month from now.

He did a careful study and came up with that number. He do have the necessary qualifications for making such a prediction, unlike the case with people like McAfee (who predicted a price of $1 million per coin by 2020). The evidence is right before your eyes. PayPal has just started allowing BTC in their platform, and we have seen a huge jump in the number of users. The exchange rate has risen by 60% in just one month. Still think that it is too good to be true?

erikoy

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This is so much HYIP but yes this is possible in my opinion because we know that the crypto market depend on the demand and if all the people or most of the people will buy crypto like bitcoin then pretty sure we can get a good market that can relatively touch or record 300K$ but I am in doubt that it can't get happen for now. Bitcoin has been doing good and many had known alreadt but only few are get attracted and interested to invest in it.

pakhitheboss

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Looking at the present market condition, Bitcoin will crearte a new ATH and will also easily reach its existing ATH by the year end.

Next year it will surely create a new ATH but to be realistic I doubt it will reach the fiat value as being predicted by Citibank MD. I expect it to reach 50k if I compare it with 2017 market condition. At that time Bitcoin was very unstable and the market was experiencing such a big pump for the first time ever.

DarkDays

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Quote from: Oshosondy on November 17, 2020, 04:23:37 AM

...let people address about how bitcoin will get to $500 million marketcap first before approaching $1 trillion and then to $2 trillion marketcap.

I agree, despite BTC going super strong right now there is one thing to have it go up a few millions and another multiplying to trillion in the space of just 1 year. The problem with this speculation as I see it is no so much around the marketcap value it could reach, I think BTC can reach trillions in marketcap, but the question is about WHEN. It is always the element of time that dictates when the profitability comes, rather than the value on its own.

$crypto$

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Many predictions continue to go crazy where with high values without thinking about the obstacles that will be faced after this month's bullrun, obviously fluctuating, bearish, FUD will continue to scatter if the price starts to go high so therefore I'm not really sure what was said in the article makes no sense and this is too ambitious in its conclusion.

Still, we will continue to keep an eye on what has happened before, even 20k is not strong, therefore when in the future bitcoin has reached 20k, what will happen, it is clear that this will cause a polemic that will make the public trapped in this hoax.

CODE200

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So bitcoin has been growing for the past 2 months and people have started making absurd and insane price predictions. That's the same way people were predicting crazy bitcoin price in 2017 bull market. They said the price would hit $100k by 2018. By 2018, it fell by more than 80% from the highs. How many people would be happy to buy 1 btc at $318k?

People are easily carried away by the hype the market is showing to us right now. Many of us are surprised that recovery took place this year from being down for more than a year since 2018. And since the market price is now close to its ATH, many people are making absurd conclusions on how high the market price could be. Indeed, things are the same as with the last ATH, wherein many people speculated a market price of more than $100k but the opposite of their expectations happened.

batang_bitcoin

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$318k is possible but don't give it a timeframe as if it's about to happen exactly like 2021. When predictors like him come out all of the sudden, they just want to harvest the ripe fruits and when the market is bearish, they're all silent and don't want to say anything. This is how the institution plays with the emotions of most investors, they'll say words as an assurance to believe that it will exactly go to happen. But don't be too excited and ride those words, we will see that price but unlikely next year. When bankers are giving advice, you know that the favor is on them and not on us.

Smartprofit

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It seems to me that such a rapid rise in the price of bitcoin will lead to disaster.

There are certain people (world elite) who rule the world. We may not like them, but we must admit that they are professional managers. They have certain skills and abilities.

Let's say the dollar reaches $ 308,000. This means that Roger Ver, Vitalik Buterin, Dan Larimer, John McCaffy, Craig Wright will become the richest and most influential people on planet Earth.

If you guessed to buy Bitcoin in 2010, this does not mean that you are a good manager.

To what extent are these people ready to take control of the world? Are they capable of making strong management decisions? All these people are smart, but how developed are their emotional intelligence? Can they negotiate with other people?

Cnut237

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Quote from: ValerieChristaldi on November 17, 2020, 04:14:27 AM

BTC can touch $318K by December 2021. What do you think? Is this really possible?

It's certainly possible. Not sure how likely it is, but possible, yes.
Objections to this are sometimes based on a misunderstanding of exponential growth or a misunderstanding of marketcap.

Below is a screengrab from CMC of recent BTC price progression - on a log scale. The objection that "it's only gone from $0 to $20k so far, therefore $300k is out of reach" overlooks the fact that this is a single order of magnitude change, which we've already seen many times before. Granted the progression gets harder each time, but there's no indication that we're anywhere near a ceiling yet.

Secondly the argument that it's unrealistic because it means a stratospheric marketcap - marketcap is misleading, it's just the current price based on current trades. It certainly doesn't mean that's the total value of the coin. BTC cap is currently $300b. This doesn't mean that all BTC could be sold right now for $300b, because each sale causes the price to change. Marketcap is just a rough guide and shouldn't be taken at face value, and shouldn't be taken as a limiting factor.

Vishnu.Reang

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Normally I would ignore such price projections for Bitcoins, because in most cases they are made without any logic. But in this case, I read the article and it seems that Thomas Fitzpatrick has done his homework regarding Bitcoin. His reasoning is solid and he didn't produced a random number out of the air. He came up with that figure after a lot of research and careful study.

BTW, what can this mean? The MD of one of the largest banks being bullish about Bitcoin. Can we expect the banking giants to enter the cryptocurrency sector after PayPal?

Noctis Connor

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Quote from: ValerieChristaldi on November 17, 2020, 04:14:27 AM

I know that some people believe BTC can achieve much more than we have seen till this far. Just in 1 month the BTC went from somewhere around $11K to +$16K today.

CitiBank Managing Director believes BTC can touch $318K by December 2021. What do you think? Is this really possible?

Read article:
CitiBank Managing Director Says Bitcoin (BTC) Can Touch $318K By December 2021

Yes because they also believed that bitcoin is a digital gold from internet which can be reserve fund for the crisis to happen which can help to save some business, Not only citibank think that but we can see the graphics and others theory that bitcoin can really be on that price when the times comes or maybe after this pandemic bitcoin can be risen up.

AicecreaME

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Quote from: Upgrade00 on November 17, 2020, 04:29:59 AM

Any price is possible as the market is largely unpredictable. The argument that Bitcoin would be viewed as a safe haven to escape inflation is accurate and this would (already is) drive demand to Bitcoin. An increase in demand without a subsequent increase in supply would raise the value, but how high it can go within the next 1-5 years is the unpredictable question.

There are lots of figures being thrown around, but in my opinion, attempting to give an accurate amount to the tens (such as $318k) is not possible and seems more like just making numbers up, a range would be a more shrewd attempt.

I agree.

But $318K is way bit too big for Bitcoin to have in the end of 2021. I don't doubt Bitcoin when it comes to profits and high fluctuations of its price, either going up or going down. Nonetheless, Bitcoin would continue to make new ATH(s} since we're already done in halving. However, we still can't say what year it is to reach that BTC price OP had said. For sure, before this 2020 ends, I bet it's going be in $20,000 again and will increase even more in January 2021.

mk4

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It's the same dude who made a prediction in 2013 that gold is on its way to $3,500 and silver to $100.

and yea, he was significantly off the mark.

http://www.mining.com/citis-fitzpatrick-gold-on-its-way-to-3500-silver-100-93926/

20kevin20

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Quote from: Oshosondy on November 17, 2020, 04:23:37 AM

For bitcoin to get to such high price, do you know the marketcap needed for it, over $2 trillion marketcap is needed. The question is, can bitcoin have such marketcap before the end of December 2021? I do not think so. It is possible for bitcoin to increase in price and also get to over $1 trillion marketcap but that even should not be the talk of now, let people address about how bitcoin will get to $500 million marketcap first before approaching $1 trillion and then to $2 trillion marketcap.

It does not need a $2T market cap to get to $318k. Price and market cap go in tandem. I'd rather think the $1T (or $500B) market cap is just a psychological level that, once we get past it, will become easier to imagine as a reality. $1T or two is not that much imo for an asset that provides a lot of things we've never had before, in a fair way. To me, $318k is as easy to touch as $10k was before 2016.

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Any price is possible as the market is largely unpredictable. The argument that Bitcoin would be viewed as a safe haven to escape inflation is accurate and this would (already is) drive demand to Bitcoin. An increase in demand without a subsequent increase in supply would raise the value, but how high it can go within the next 1-5 years is the unpredictable question.

There are lots of figures being thrown around, but in my opinion, attempting to give an accurate amount to the tens (such as $318k) is not possible and seems more like just making numbers up, a range would be a more shrewd attempt.

BlackHatCoiner

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Quote from: ValerieChristaldi on November 17, 2020, 04:14:27 AM

CitiBank Managing Director believes BTC can touch $318K by December 2021. What do you think? Is this really possible?

No, it's not. I don't understand how they make such assumptions, but bitcoin's price increasement by 20.000% within a year is something impossible. What exactly will happen this year that it will increase it that much? Are all the governments going to accept it? Lol.

These people are probably trying to get some traffic to their article sites. I have seen many similar articles that fulfill your enthusiasm but it was one that had crossed the line. Bitcoin price was $8k at that time and the article was saying that in less than 1 year it would reach 1 million. I like how some of them announce a specific number, though. Like $318k. They must have done some weird and advanced maths to calculate that. Tongue

Oshosondy

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For bitcoin to get to such high price, do you know the marketcap needed for it, over $2 trillion marketcap is needed. The question is, can bitcoin have such marketcap before the end of December 2021? I do not think so. It is possible for bitcoin to increase in price and also get to over $1 trillion marketcap but that even should not be the talk of now, let people address about how bitcoin will get to $500 million marketcap first before approaching $1 trillion and then to $2 trillion marketcap.

ValerieChristaldi

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I know that some people believe BTC can achieve much more than we have seen till this far. Just in 1 month the BTC went from somewhere around $11K to +$16K today.

CitiBank Managing Director believes BTC can touch $318K by December 2021. What do you think? Is this really possible?

Read article:
CitiBank Managing Director Says Bitcoin (BTC) Can Touch $318K By December 2021

Topic: Bitcoin $318K by December 2021 - page 5. (Read 1270 times)