bitcoin spot market moves inside a window of value:premium
the value is the most efficient method of acquiring bitcoin on the planet. which is the most efficient miner on the planet
the premium is the most inefficient method which is the most costly mining on the planet
right now this window is a bottom and top potential of Q1 2023 of $18k-$118k
if everyone on the planet can mine bitcoin for less then $118k no one would really want to buy bitcoin for more.
its standard economic psychology
EG if everyone can mine gold in their own back yard for $200 with a spoon and coffee filter.. no one would want to buy gold for $1800
EG retailer sell cucumbers for $1 and people can grow their own for $3.. no one would buy cucumber for $30
the reason why gold is at $1800 is because the cost range of mining gold is $1k-$2k
for bitcoin to reach a possible $1m.. it requires the window to 9x to allow such a number of $1m to even be in the range of people thinking its worth it
and im sorry to say a window top of more then $1m to allow a market ATH of $1m is not happening in the next 90 days
though $100k is possible in 90 days if speculation went high
Topic: Bitcoin market changes over the past 15 years. (Read 131 times)
Do you think it is possible? Will Bitcoin Reach $1M in 90 Days?
Just do your own analysis and never believe anyone. Know that even analysts can be wrong because anyone can be analysts, even the good analysts may be wrong. Market Cap = Current Price x Circulating Supply
The present bitcoin circulating supply is: 19.32 million
If the price reach $1 million
The marketcap would be: $1 million multiply by $19.32
Marketcap: $19.32 trillion
Bitcoin marketcap to get to $19.32 trillion in June 2023. Is that possible? Highly impossible.
Such people just want people to fomo and buy bitcoin, nothing more.
Present bitcoin marketcap is $532 billion.
Bitcoin all time price chart with Bitcoin.zorinaq.com even when Bitcoin was only a few cents.
Bitcoin 2008/09-2024 History Paperback/Hardcover Book will be printed soon by Tyke and can help you to understand Bitcoin history better.
Bitcoin 2008/09-2024 History Paperback/Hardcover Book will be printed soon by Tyke and can help you to understand Bitcoin history better.
In late 2008, Satoshi Nakamoto published a Bitcoin white paper. He launched a peer-to-peer digital system using ledger technology called blockchain. And at the beginning of 2009, Bitcoin was worth $0. After the launch of the Bitcoin market in 2010, its price was $0.5 and by the end of the year, the price of Bitcoin had increased to $0.30. Then in 2011, the price of Bitcoin increased from $1 to $10, the virtual currency BTC.
But by 2012, the Bitcoin market had almost halved to below $13. And later in 2013, EFF took over Bitcoin and the value of Bitcoin rose to the highest level in history. Then the Bitcoin market grew from $13 to $1100 in 2013. And in 2014 the price of Bitcoin was stable at $200 to $400 but there was a lot of potential for an increase. And in the following year, at the end of 2016, the price of Bitcoin increased to $963. Then at the beginning of the new year 2017, the price of Bitcoin began to rise, when the price of Bitcoin reached $1003 and BTC went from January to November at the end of $10800. Then, right from the beginning of December 2017, the price of Bitcoin increased by a maximum of 1,369% to reach $20089.
Then in 2018, the Bitcoin market gradually declined and at the end of the year, the price of Bitcoin reached $3881. And then the following year in 2019 the Bitcoin market leveled off and remained stable and then in August the price of Bitcoin rose again and again to reach a market high of $12282. Then Bitcoin remained at a standstill for the following months.
Then came 2020 and saw another big change for Bitcoin. The Bitcoin market then rose 302% from $7,258 at the beginning of the year to $28,994 by the end of the year. It was a huge change in the Bitcoin market which saw the largest growth in history.
Then the arrival of the new year 2021 Bitcoin price has been bullish since the beginning of the year. In January 2021, the Bitcoin market rose to $42,000. Then in February, the Bitcoin market began to gain momentum as the price of BTC rocketed to $58,278. And come March Bitcoin price touched $61,558 and next month came April Bitcoin price crossed $65,028. Then the market took a bit of a dump and two months later the market turned into a bull market again and the price of Bitcoin reached an all-time high of $68,692. The year 2021 was set to make a new history for Bitcoin.
The next year came in 2022, there were many changes in the Bitcoin market and the market turned into a bear market. At the beginning of the year, the Bitcoin market was in a bit of parity but slowly it came down. Then the Bitcoin market went down and the price of Bitcoin reached $16,628 by the end of the year due to market dumping. And this year 2022 was a big crash of bitcoin market.
The new year 2023 saw no change in the Bitcoin market. However, the Bitcoin market is slowly moving upwards and the Bitcoin market reached a high of $28,803 in March. And at the moment the market is at the stage it is slowly progressing but it can be expected that in 2023 the Bitcoin market will reach a good stage. And I think the market will touch $100,000 by the end of 2023.
Is it possible for Bitcoin to be worth $100,000 by the end of 2023??
Photo collect Google
But a few days back a news came out Balaji tweeted on his twitter. Coinbase CTO Balaji Srinivasan tweeted that Bitcoin will reach $1M in 90 days. And he mentions that $1 million will be deposited on-chain for betting and Medlock will have to buy 1 BTC. If BTC reaches $1 million within the specified time frame, he can deposit Medlock's 1 BTC and $1 million. However, if BTC does not reach the price target within 90 days, Medlock receives $1 million and keeps 1 BTC.
Source
Do you think it is possible? Will Bitcoin Reach $1M in 90 Days?
But by 2012, the Bitcoin market had almost halved to below $13. And later in 2013, EFF took over Bitcoin and the value of Bitcoin rose to the highest level in history. Then the Bitcoin market grew from $13 to $1100 in 2013. And in 2014 the price of Bitcoin was stable at $200 to $400 but there was a lot of potential for an increase. And in the following year, at the end of 2016, the price of Bitcoin increased to $963. Then at the beginning of the new year 2017, the price of Bitcoin began to rise, when the price of Bitcoin reached $1003 and BTC went from January to November at the end of $10800. Then, right from the beginning of December 2017, the price of Bitcoin increased by a maximum of 1,369% to reach $20089.
Then in 2018, the Bitcoin market gradually declined and at the end of the year, the price of Bitcoin reached $3881. And then the following year in 2019 the Bitcoin market leveled off and remained stable and then in August the price of Bitcoin rose again and again to reach a market high of $12282. Then Bitcoin remained at a standstill for the following months.
Then came 2020 and saw another big change for Bitcoin. The Bitcoin market then rose 302% from $7,258 at the beginning of the year to $28,994 by the end of the year. It was a huge change in the Bitcoin market which saw the largest growth in history.
Then the arrival of the new year 2021 Bitcoin price has been bullish since the beginning of the year. In January 2021, the Bitcoin market rose to $42,000. Then in February, the Bitcoin market began to gain momentum as the price of BTC rocketed to $58,278. And come March Bitcoin price touched $61,558 and next month came April Bitcoin price crossed $65,028. Then the market took a bit of a dump and two months later the market turned into a bull market again and the price of Bitcoin reached an all-time high of $68,692. The year 2021 was set to make a new history for Bitcoin.
The next year came in 2022, there were many changes in the Bitcoin market and the market turned into a bear market. At the beginning of the year, the Bitcoin market was in a bit of parity but slowly it came down. Then the Bitcoin market went down and the price of Bitcoin reached $16,628 by the end of the year due to market dumping. And this year 2022 was a big crash of bitcoin market.
The new year 2023 saw no change in the Bitcoin market. However, the Bitcoin market is slowly moving upwards and the Bitcoin market reached a high of $28,803 in March. And at the moment the market is at the stage it is slowly progressing but it can be expected that in 2023 the Bitcoin market will reach a good stage. And I think the market will touch $100,000 by the end of 2023.
Is it possible for Bitcoin to be worth $100,000 by the end of 2023??
Photo collect Google
But a few days back a news came out Balaji tweeted on his twitter. Coinbase CTO Balaji Srinivasan tweeted that Bitcoin will reach $1M in 90 days. And he mentions that $1 million will be deposited on-chain for betting and Medlock will have to buy 1 BTC. If BTC reaches $1 million within the specified time frame, he can deposit Medlock's 1 BTC and $1 million. However, if BTC does not reach the price target within 90 days, Medlock receives $1 million and keeps 1 BTC.
Source
Do you think it is possible? Will Bitcoin Reach $1M in 90 Days?
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