Topic: Bitcoin Can Be 1 Million in 2020 (Read 615 times)
This is his assumption on how bitcoin is behaving right now and his past speculation was at the $500,000 value Half a million increase on 2020 but then realizes that the movement of bitcoin was too fast right now and have assumed that it will be $1 Million by the End of 2020, I really think McAfee have thought twice before saying this, there must be a calculation involve for him to say such things, he even added that a preview speculation that he sees regarding the pump of bitcoin could be accurate and that bitcoin if not exactly $1 million then near that value.
I don't think bitcoin can reasch $1M in 2020 it looks like we are asking too much of price in short period of time.But anything can happen so no one can tell us when it will reach million.
According to Statistica:If that will be happened, Bitcoin's supply will be approximately 18 million in 2020. If Bitcoin's price is $1,000,000 per coin, Bitcoin's market cap would be $18 Trillion. The global GDP will be around $93.5 Trillion in 2020. That means that almost 20% of the global GDP will be put into Bitcoin.
This prediction right there is the most impressive I have seen, maybe Tim Drapper used this same model for his very accurate prediction (which he almost nailed, in fact, he was a bit too conservative, since he said early 2018). Take a look at this:
If this model is correct, somewhere in the 2030 decade it should reach $1,000,000
$100,000 will be meet around 2021. The decade of 2020 may not still meet 7 figures. I think this model is to be taken very seriously, given past performance. Fundamentals are fantastic for Bitcoin next year with lightning networks solving scaling issues, which makes it bullish and this bull traction may be the beginning of the $100,000 bull run, coupled with CME and NASDAQ futures.
If this model is correct, somewhere in the 2030 decade it should reach $1,000,000
$100,000 will be meet around 2021. The decade of 2020 may not still meet 7 figures. I think this model is to be taken very seriously, given past performance. Fundamentals are fantastic for Bitcoin next year with lightning networks solving scaling issues, which makes it bullish and this bull traction may be the beginning of the $100,000 bull run, coupled with CME and NASDAQ futures.
We have many speculations to this effect and I think bitcoin may not get to $1,000,000 by 2020 but the projections is 2025. 2020 is just 2 years from now and I think no matter how bitcoin get volatile it might not get to $500,000. There will be time that bitcoin is going to get strong corrections and I think when the price get above $25,000 and along the lines as it make progress it might face some limitations and issue but the focus we be upward movement.
He seems to be highly optimistic.That price does not seem to be an achievable price till 2020.Bitcoin has the capacity to reach that price,but it would take years for it to happen.Already,we have reached this price of $11,000 very fastly.
Bitcoin price increased 2.5 times during 2016.From 450 to 1100 USD.
It increased more than 10 times during 2017.1100>10800 USD.(These numbers aren`t very accurate
)
What if the bitcoin price increase 20 times during 2018?
If there`s no mass worldwide cryptocurrency ban and all countries and banks adopt bitcoin+blockchain.
The btc price could hit 220000 USD next December.This is a very optimistic scenario,i know.
It increased more than 10 times during 2017.1100>10800 USD.(These numbers aren`t very accurate
)What if the bitcoin price increase 20 times during 2018?
If there`s no mass worldwide cryptocurrency ban and all countries and banks adopt bitcoin+blockchain.
The btc price could hit 220000 USD next December.This is a very optimistic scenario,i know.
This is really a very optimistic scenario that I would love to see by 2020 but we need to be realistic. Increase on price from $1100 to $10,000 for 2017 is still acceptable but imagine how will people react if by 2018 bitcoin will do the same rate of almost 1000%. There are too many people who can afford to put an investment of $10,000 per coin once it reached $50,000 there will be fewer market for it. At this time I would prefer bitcoin increasing it's price slowly.
I don't think bitcoin can reasch $1M in 2020 it looks like we are asking too much of price in short period of time.But anything can happen so no one can tell us when it will reach million.
According to Statistica:If that will be happened, Bitcoin's supply will be approximately 18 million in 2020. If Bitcoin's price is $1,000,000 per coin, Bitcoin's market cap would be $18 Trillion. The global GDP will be around $93.5 Trillion in 2020. That means that almost 20% of the global GDP will be put into Bitcoin.
Though I love John's enthusiasm about bitcoin's price growth, I still don't think that it would go astronomically high like what his models tell him. You need to take into account the amount of money that needs to be poured every month just to satisfy the selling orders on the other side of things. This is not as easy as 1-2-3 like what John thinks. Even with the Wall Street getting involved, $1M/bitcoin isn't just going to happen within the next ~2 years.
the picture is too beautiful to believe ,i don't think bitcoin will hit $1million ,but $200k is reasonable and i will be very rich if it go to that high.
Brakes are built in: higher the price, more mining as measured in electricity used. Miners have to sell Bitcoins to pay the bills. So, higher the BTC price, more selling there is.
At 10,000, we are already at the 500 million per month for miners. So you need that amount (more like 50% of it) of fresh money per month to enter exchanges just to keep the BTC price stable.
At BTC one million, we are talking about 50 billion dollars each month.
At 10,000, we are already at the 500 million per month for miners. So you need that amount (more like 50% of it) of fresh money per month to enter exchanges just to keep the BTC price stable.
At BTC one million, we are talking about 50 billion dollars each month.
$1 million implies a 100 times increase in 2-3 years. Even the most ardent crypto fan will know from the bottom of his heart that this is wishful thinking, especially from such a high base. What we need now is to overcome the problems facing bitcoin, including transaction backlog and lack of clarity in regulation. The price increase can come subsequently.
I don't think bitcoin can reasch $1M in 2020 it looks like we are asking too much of price in short period of time.But anything can happen so no one can tell us when it will reach million.
I have been following his prediction and has a faith on it. If he's right and it happened, he gain a lot and he is safe of eating it but if his prediction will not be accurate, no loss for us but only him. Small time traders and holders are in favor of this especially if the price of bitcoin is going to be worth a million dollars. Besides he's old enough to gamble what he has.
Will Bitcoin reach as high as 1 Million Dollar by the end of 2020? Well, somebody who is already popular made a stake that he will eat his own manhood if his prediction will not come true. According to John McAfee, in predicting the 1 Million he is in fact using the same technique in saying that $5,000 will be the value of Bitcoin end of 2017 but we know that it is now at the $10,000 level so his prediction was even doubled.
Should we believe this man or shall we anticipate him eating his own thing? Well, let's time tell us what can be.
John is a crazy guy and you can't take him serious anymore. And especially not in that case.
He had no clue what the halving is, thought Jihan Wu mined more than 50% of all coins which will ever exist, although more than 50% were already minded than Bitmain entered the mining space. And he owns a mining company himself!!
His understanding of economics is also questionable to be honest.
Therefore no Bitcoin will not reach $1millionin 2020. Even $50k in 2-3 years would a big achievement, however much more realistic.
At $1 million, Bitcoin has a higher value than all of the circulating USD. I dont think mass adoption is going to happen in 3 years.
before we're talking about how much and how far it will go,can we talk about what will happen with it in the future ?
so far i do not hear anything and something new that will happen with it,
right now many people still do not believe the fork and many people oppose that thing to exist,
if we're looking at our current fees for every transaction,do not you think it's quite money for every single transaction that we made ?
simple math,
how much that we need to spend for fees if Bitcoin hit $100.000 in the future ?
approximately around $100/transaction,which mean it would be $1000/transaction if Bitcoin reach $1.000.000 in the future.
do you think people will buy it in the future ? do you think people will use it in their real life ?
at least so far we can not see Bitcoin reach that point,unless we're discovering something new to cover it up.
so far i do not hear anything and something new that will happen with it,
right now many people still do not believe the fork and many people oppose that thing to exist,
if we're looking at our current fees for every transaction,do not you think it's quite money for every single transaction that we made ?
simple math,
how much that we need to spend for fees if Bitcoin hit $100.000 in the future ?
approximately around $100/transaction,which mean it would be $1000/transaction if Bitcoin reach $1.000.000 in the future.
do you think people will buy it in the future ? do you think people will use it in their real life ?
at least so far we can not see Bitcoin reach that point,unless we're discovering something new to cover it up.
Bitcoin price increased 2.5 times during 2016.From 450 to 1100 USD.
It increased more than 10 times during 2017.1100>10800 USD.(These numbers aren`t very accurate )
What if the bitcoin price increase 20 times during 2018?
If there`s no mass worldwide cryptocurrency ban and all countries and banks adopt bitcoin+blockchain.
The btc price could hit 220000 USD next December.This is a very optimistic scenario,i know.
It increased more than 10 times during 2017.1100>10800 USD.(These numbers aren`t very accurate
)What if the bitcoin price increase 20 times during 2018?
If there`s no mass worldwide cryptocurrency ban and all countries and banks adopt bitcoin+blockchain.
The btc price could hit 220000 USD next December.This is a very optimistic scenario,i know.
If you believe everyone, and do not think with your own head, then for us it can end tragically. Therefore, let's be realistic and understand that such a price will not be even in the most ideal times for him.
legendary
Activity: 1358
Merit: 1565
The first decentralized crypto betting platform
I quite like listening to McAfee but he might be wrong. I think he is consciously pushing the price up with those statements. I mean, he is a true believer but appearing in media saying things like that contributes also to mass adoption and he does know this.
He won’t eat his dick, even if he is wrong. Unless he has a 50-cm dick (20 inches), or he is very bendable (he doesn’t seem to), first he will have to cut it, and then eat in.
Very funny, anyway.
He won’t eat his dick, even if he is wrong. Unless he has a 50-cm dick (20 inches), or he is very bendable (he doesn’t seem to), first he will have to cut it, and then eat in.
Very funny, anyway.
Will Bitcoin reach as high as 1 Million Dollar by the end of 2020? Well, somebody who is already popular made a stake that he will eat his own manhood if his prediction will not come true. According to John McAfee, in predicting the 1 Million he is in fact using the same technique in saying that $5,000 will be the value of Bitcoin end of 2017 but we know that it is now at the $10,000 level so his prediction was even doubled.
Should we believe this man or shall we anticipate him eating his own thing? Well, let's time tell us what can be.
Jump to: