Topic: Bitcoin for $1 Million !!! In ten years? - page 4. (Read 2824 times)

Bitcoin Bull Tom Lee Double Downs on $25,000 Bitcoin Price Forecast in 2018

Lee, co-founder of Fundstrat Global Advisors and the best known Wall Street analyst who forecasts bitcoin prices, quickly clarified Thursday evening in a CNBC “Fast Money” interview that he maintains his $25,000 forecast.

Lee initially stated on Squawk Box Thursday morning that bitcoin has traded at 2.5 times its mining cost. The mining cost is $7,000 and rising, he said, meaning by year’s end the mining cost will reach $9,000.


https://www.ccn.com/bitcoin-bull-tom-lee-double-downs-on-25000-bitcoin-price-forecast-in-2018/

The co-founder and president of TenX believes that a $60,000 Bitcoin remains possible for this year.

Julian Hosp previously predicted that Bitcoin would hit both $5,000 and $60,000 in 2018. He spoke to one of CNBC’s reporters at the RISE conference currently being held in Hong Kong:    “Back then, December, price was at $20,000 all-time high. I predicted for 2018, we’re going to see $5,000 and $60,000. So $5,000, we pretty much hit it, so let’s see if we can do the $60,000. I’m still quite confident.”

However, the TenX president does admit that a “massive positive event” is needed for Bitcoin to reach the lofty price of $60,000 this year. Hosp continued, speculating that a Bitcoin ETF or a huge positive announcement from a nation state would be the kind of news event that could drive the price skywards.
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https://www.newsbtc.com/2018/07/11/ceo-bitcoin-at-60000-by-the-end-of-2018-is-still-a-possibility/

It was actually possible that bitcoins might reach $1m dollar in ten years because every end of the year, the market prices are soaring so holding your coins will be greater because it was secured that you will earn a huge amount of profit in the future.

When we are talking about such long time frames it is impossible to say precisely what it is going to happen but common sense tells me that unless something terrible happens to all the economies of the world it seems very unlikely we can see such a high price, also if at that point 1 million dollars are so devalued that only buy you a soda then that means bitcoin did not gained any value because I think in the 10 next years there is a high chance that we may suffer from hyperinflation.

although there are any regulation and correction, the bitcoin price will be increased and will be expensive and after bitcoin price become expensive, there will be many rich people that have bitcoin in their wallet. why is it not realistic? everything can happen in this world include what will happen in the cryptocurrency. as we know, cryptocurrency is a digital technology, in the future, our life will be full of digital technology so I think it will start from this year and in the next year, new digital technology will release and will change our lives.

If this gonna happen, 1 million dollar for one bitcoin, what would be the price of one loaf bread? It is not realistic for bitcoin's price to go that high. Regulation and corrections will always set in.

I really agree with you, I'm sure this can be very expensive, how not to keep the price of bitcoin at a very low cost while the bitcoin supply is so limited that making bitcoin can be very expensive someday.

This technical indicator may show the world’s largest cryptocurrency is bucking a selling trend and gearing up for a price increase.

Divergence Analysis Inc.’s (DVAN) Buying and Selling Pressure Indicator may be signaling positive times ahead for Bitcoin after the currency lost more than half its value this year. The DVAN indicator -- a proprietary analysis charting the coin’s current price, trend line and ideal exit points -- suggests the selling trend that began May 14 could end shortly, giving way to a potential bull run.

Historically, data show that when the stop and trend lines cross, the price of Bitcoin may see a reverse in trajectory. The last time these lines met on April 13, the price of the coin surged almost 22 percent to more than $9,600 on May 4 from $7,903.

On Friday, the trend line crossed the exit point again, and the cryptocurrency rose almost 2 percent to $6,693 on Monday.

yes of course the bitcoin price could potentially be as expensive as bitcoin every year will be getting used up and it will be more difficult to get bitcoin so for now buy bitcoin while price is cheap.

it seems that it could happen because from year to year bitcoin prices always go up and total supply bitcoin also thinning so make bitcoin more difficult to get so better have bitcoin at this time also because bitcoin at this time still easy to get.

Crypto analysts and experts have different views on bitcoin's future as to its market cap and price. A 100$ USD for a decade is the common market value they speculate but for a million dollar value is something that is quite high but still can be possible if bitcoin will always continue to rise.

"The first email was sent in 1971, but it took nearly three decades for the technology to become commonplace with a user-friendly interface in the form of hotmail," said eToro's UK managing director Iqbal Gandham.

"The first ever bitcoin transaction took place a little over eight years ago and today we are already seeing it begin to meet the requirements of everyday money. Given the speed of adoption, we believe that we could see Bitcoin and other cryptocurrencies on the high street within the decade. There are of course barriers to mainstream adoption, but they are far from insurmountable."
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Bitcoin and cryptocurrency have been handed huge support this morning from researchers at Imperial College London, who have said digital currencies are primed for mass adoption.

According to the paper — entitled "Cryptocurrencies: Overcoming Barriers to Trust and Adoption" — bitcoin and cryptocurrencies will hit the mainstream as a way of paying for goods and services within the next decade...


New Paper Reveals Massive Bitcoin Backing       - FORBES article:

https://www.forbes.com/sites/billybambrough/2018/07/09/new-paper-reveals-massive-bitcoin-backing/#23b27b105ead

yes this person is just too negative, the price of bitcoins has already reached $20k dollars so there is still a chance for bitcoins to reach $1m dollar if people will just continue to invest today.

Maybe that is possible, because as of now as we see the history of the price every year it increases. So in ten years it reach up to $ 1 Million, besides that many more investors are invested in bitcoin that can make the prices at the highest.

from New York Post

"Bitcoin’s price rallied to over $6,600 yesterday, but it had been well under $6,000 last week. Even at $6,600, bitcoin is still worth 70 percent less than it was at the beginning of the year. I use the term “worth” cautiously because bitcoin is really worth nothing since it’s backed by nothing or no one. It’s a confidence game that has value only because people are convincing other people that it’s worth something. Got it! Ponzi scheme. Confidence game. Fraud."

- Crudele first struck a controversy with his uninformed opinions on Bitcoin back in 2014. Four years later, he is still rehearsing the same bullshit.  


Dear NY Post, Bitcoin will outlive you!

Here is why The NY Post is wrong about Bitcoin’s imminent demise:


https://thenextweb.com/hardfork/2018/07/05/nypost-bitcoin/

What will the Lightning Network do to the bitcoin price?    - Forbes explains:

Mass adoption of the Lightning Network would be one of the biggest changes to how bitcoin works in the real world since it was first conceived almost a decade ago.

On bitcoin forums many talk of the Lightning Network as though it will solve all of bitcoin's problems, making transactions quick, cheap and easy. One question few have asked is, if the Lightning Network grows into a widely used bitcoin modification, what it will do to the bitcoin price — something that is closely linked to miners' fees and transaction costs.
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Bitcoin prices have risen along with use — as more people send, receive and mine bitcoin the price has risen. However, if a large volume of bitcoin transactions happen "off-chain" there will be a smaller reward for miners who, once the last bitcoin is created well into the next century will entirely depend on transaction fees for income.
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The consensus appears to be: Despite a short term dip in miner fees and transaction costs, the increased adoption the Lightning Network could trigger would more than offset a reduction from smaller off-chain transactions  


https://www.forbes.com/sites/billybambrough/2018/07/06/bitcoins-lightning-network-could-play-havoc-with-the-bitcoin-price/#3a2ff3b47f1a

not encouraging news about crypto 

Travel Booking Giant Expedia Has Quietly Removed Bitcoin Payment Option

Major travel booking website Expedia.com recently stopped accepting Bitcoin (BTC) as a payment method for hotels or flights, Expedia told Cointelegraph June 27.

An Expedia spokesperson confirmed that the service “no longer accepts digital currency Bitcoin,” starting from June 10, 2018, apologizing for “any inconvenience this may cause.” The service did not comment on the cancellation either on social media or on its website.

Community members took to Reddit to express their contempt of the recent news, subsequently suggesting a number of alternatives to Expedia, such as CheapAir travel service, which started accepting Bitcoin for flights and hotel bookings in 2013.

Reddit user bowiestar noted that the majority of employees in the IT industry tend to get their salaries partly in crypto, implying that the service would eventually lose a part of its customers.

“Expedia.com, one of the largest sites to book flights/hotels on used to take Bitcoin for years... I went on there to look at flights and noticed they no longer accept it. Customer support said they stopped accepting it June 10… A lot of us in the tech industry get a portion of our salary in Bitcoin and it was really good to use Expedia for flights. I won’t be using them anymore!”

As Cointelegraph reported earlier this year, the extreme volatility of the crypto markets apparently does not scare industry insiders from taking part of their pay in crypto, with some even preferring to get their salaries entirely in Bitcoin.

In many other articles you can read about wall street is planning to enter in crypto, in the same time they are spreading fud because they wish to buy as many bitcoins they can at this low price. Conspiracy theories are everywhere around, news spinning is a normal thing but that makes harder for truth to reach people minds.
In what to believe? For sure not in the end of bitcoin! You can read similar articles from 5 years ago, people from wall street, from banks and investment sectors pronounced bitcoin dead so many times, and what happen? Most funny of them all is Soros, after so many years and so many article pointed against crypto this year he decided to enter in crypto market, Jordan Belfort will do the same, he is talking out the people from buying but in same time he is buying bitcoins. Be careful when you are selling bitcoins, maybe you will stay without good investment because of some wolf that mislead you, don't be a sheep.

A Goldman Sachs investor believes that ETFs could take the price of bitcoin to $35,000 per coin.

According to a cryptocurrency research group, the bitcoin price could increase to over $35,000 with the emergence of a bitcoin exchange-traded fund (ETF), which isn’t that far away.

Road to $35,000: Institutional investors or ETFs

Prominent investors including Ari Paul, the co-founder of BlockTower, a cryptocurrency hedge fund founded by former Goldman Sachs executive, have said that the next mid-term rally will likely be triggered by institutional investors potentially before the end of 2018.

Paul said that the last barrier preventing institutional investors from entering the cryptocurrency market is the lack of trusted custodianship and a suite of institutional cryptocurrency products. Upon the completion of Coinbase’s custodian solutions and the approval of digital asset companies to operate as custodians, institutional investors may enter the cryptocurrency market.

Paul said:

“Institutional money started trickling into cryptocurrency in mid 2017, but it’s been slower than many expected. That doesn’t mean it’s not coming. There are a lot of pieces that need to come together, one big piece being third party custody. Custody isn’t binary. It’s not like Coinbase custody will launch and suddenly every pension will throw $100 million into BTC. It takes time for custody solutions to gain trustworthiness. But, I think we’ll have solid third party custody by September of this year.”

The entrance of institutional investors into the cryptocurrency market isn’t the only way major digital assets like bitcoin can increase massively in value. The emergence of publicly tradable instruments like ETFs could also fuel the next rally, and researchers at IronWood believe that ETFs will be the fuel of the next mid-term rally.

Undoubtedly, the market is in amidst of a bad correction, in fact the third worst correction since 2014. The bitcoin price has fallen 65 percent from their all-time highs and retail investors have started to become more pessimistic in the short-term trend of the market.

But, as it did in 2010, 2014, and 2016, the market is seeing an accumulation period, during which companies start to build products and infrastructures that are necessary to fuel the next rally.

Michael Strutton, the CEO at IronWood, explained in a column that if an ETF is approved by the US Securities and Exchange Commission (SEC), anyone with a 401k, IRA, or an investment account with brokers like Fidelity and Ameriprise Financial can easily invest in the bitcoin market. Strutton noted that the result of a bitcoin ETF could be the price of BTC rising to at least $26,000 and below $44,000. He said:

“If ETFs add 24 million US investors and the upward momentum adds 14 million from the rest of the world, then that adds $84 billion and $336 billion, respectively, to the market cap. Over the past six months, Bitcoin’s market cap has swung from $326 to $110 billion. Adding $420 billion to the market cap could put Bitcoin price range from $26,000 to $44,000.”

State of ETFs
The Winklevoss twins, who currently oversee a major cryptocurrency exchange based in the US called Gemini, are working on their own exchange-traded fund (ETF) called Coin. SolidX, who had their ETF turned down by the SEC last year, has partnered with VanEck to increase its chances of being approved by the SEC.

Eric Balchunas, an ETF analyst at Bloomberg, said that a collaboration with VanEck, an ETF manager that oversees 70 ETFs and $45 billion, could pay off and drastically increase the probability of a bitcoin ETF being approved by the US government.

Jordan Belfort, better known as the “Wolf of Wall Street,” believes bitcoin’s demise is imminent.

Belfort said in a recent interview that bitcoin’s price struggles in 2018 signal the beginning of the end of the top-ranked cryptocurrency. He advised hodlers to get out now before the price completely crashes. “Everything is wrong with  BTC,” he said. “There’re too many fundamental flaws with it, and [the] bottom line is, get out if you don’t want to lose all your money.”