Topic: Bitcoin price ready to increase ~$25 USD per day during this year. - page 3. (Read 4116 times)

We all so wish it increases by that margin on a daily basis but realistically and historically looking at the first month of the year it's been a forward and backward dance and so I don't really feel it will soar up by $25 daily but it can of course rise by that margin some days.

At first when I saw the link I thought it would be just another link, but when I read the link and it's really nice to see the words like million dollar Bitcoin investor, now coming to his logic don't really know if that is really feasible but I would like to see it happening, this will make us all super rich. Though I think the global circumstances can send Bitcoin price up, like the trump policies let's hope for the best. I had a gut feeling that 2017 could be the year, and now let's hope it becomes a reality.

the 10000 USD price for bitcoin is one of the oldest predictions and it started in 2013 if i remember it correctly! and even back then i was skeptical that this is not going to happen in a short time.
and also since OP mentions it, i disagree with relating price of bitcoin with scaleability of bitcoin. so far, during all these years people have been investing in bitcoin rather than using it as a currency and an investor doesn't care much about scaleability. although we need bigger blocks to move forward in adoption but not price.

Only if the USA says that from tomorrow Bitcoin becomes the official currency of the country. In order for there to be a high of this size, much adoption is necessary, which will not happen for no reason. Doubling the value this year is already being very optimistic, imagine x10.

You all are acting as if Bitcoin moves in predictable linear paths...

I won't let you trick me into becoming part of your Monty Python skit, but thanks for the coconuts nonetheless. 

You are correct that it needs to increase by a flat amount of $2.994 per day, and if you had said that I wouldn't have corrected you.

You are also correct that it needs to increase by a flat amount of $8.982 every 3 days, and if you had said that I wouldn't have corrected you.

However, what you said was that it needed "a 1% rise on average every three days", and that's where you made the mistake.

Certainly, $8.982 is approximately 1% (pretty close to 0.92%) of the CURRENT $976, but it is less than half a percent of $1952 which you'll be calculating 1% of about a week before we reach $2000.

If the exchange rate rose by 1% ($9.76) in the next 3 days then the new rate would be $985.76.
A 1% increase on that over the next 3 days would be an increase of $9.8576 (bringing the new rate 6 days from now to $995.6176).
Another 1% increase on that over the next 3 days would be an increase of nearly $9.9562 (bringing the new rate 9 days from now to more then $1000).
Now (9 days from now) 1% is no longer $9.76, it's more than $10.
That increase keeps getting bigger and bigger since the amount that you are taking 1% of is getting bigger.  By the end of 335 days, the rate has grown to nearly $3000.

With a 1% increase every 3 days you'd get to $2000 in about 217 days.  After that, your 1% increase will be more than $20 every 3 days.

If you just go with a flat amount of $8.982 every 3 days, then the percent increase gets smaller as the exchange rate increases (since the numerator of your division isn't changing, but the denominator is growing).

Nice... although I am bullish on bitcoin, I am not that crazy believing bitcoin will go to $10000 in 3 years, lol. If it actually does, then it is great, but I don't think so.

Often we might experience a price drop and rise of $25. I don't think of making a gradual increase of $25 for a long time. If so the value goes high than the previous ath in a very short time period. Now it is a good time to profit.

How the hell did I do the math wrong? Since I quote a $2,000 price point by the end of the year (-31 days), my equation became 1,000/334 = 2.994. Since you had me doubting my Leroy Fodor math skills, I resorted to check my by-hand calculations via https://percentagecalculator.net/



Assuming I can still times numbers more betterer then my riting skills or doing percentage thingies, 0.2994 X 3 = 0.8982, of which I did round up to 1%.

Not a diss, Danny, but please follow-up if again I'm truly in error, bud.

Bruno

indeed until now i see the price in poloniex, there was an increase and now reach $971 although there is down until $96x but i hope that the price will reach at least $10xx first so after that the time for altcoin is comes so we can make more profit by selling bitcoin and altcoin together.

In the last few hours the price rised more than 10$, it's growing fast right now, why is this happening?
And looks it will continue growing yet, maybe until tomorrow in a crescent chart, very near to 1000$ now, but if it continues this way I don't think the price will be stable and there is a medium risk to have bitcoin dropping below 1000$ again...

I think $1000 will come very soon, price increase slow but sure. $10k is looking hard but nothing is impossible, we'll just wait and see then to be happy if that happen.

Bitcoin was designed to be deflationary currency, so in theory we should see some kind of gradual growth.
But so far bitcoin's price was shaped by series of a huge pumps and dumps rather than stable&mild upward trend.
I don't see why bitcoin's nature would suddenly change now to accumulate 1% progressive increase of price.

I assume you're rounding up to the nearest full percent?

It's actually about 0.65% every 3 days. 1% would get you closer to $3000.

$976 * (1 + 0.01)^(335/3) = $2964.85

$976 * (1 + 0.00645)^(335/3) = $2000.99

Another way to look at it is approximately 0.215% per day:

$976 * (1 + 0.00215)³³⁵ = $2004.08

For bitcoins to reach $2,000 per, that equates to a 1% rise on average every three days. Sustainable?

Not that I believe anywhere near $10,000.

But the spot price just went up about $25 today - so far. Not sure if it will hold or settle back down. I was kinda surprised when I looked and had to do a double-take.

Edit: I wonder if we are going to see a run on the $1,000 level again soon. Interesting. ~$978 now.

We are going to pump up again. Its been 2 days when i saw that the price is increasing. This is a good sign that we are going up again. Or maybe its just a bull trap. I hope not. Im sure PBOC will be alarmed again and will spread FUDs. So the price will fall again.

For a price of $10k i really don't think, it will happen very soon but if it's happen i won't refuse it :p... I would prefer to see it going slowly to 1500-2000$ and keep that price instead to see it at $10k and crashing the  next day to 400$ . As for the man i guess if you ask him every year, every year he will tell you we may need another year. With a good dose of weed you can even say $20000.
But first we are going to see again the 1000$ mark in some days i hope.

There are a lot of holders who would be ecstatic if this does happen. But it does appear to be wishful thinking. Draper sure is holding a lot of bitcoins and it makes sense for him to 'talk the price up'.