Bitcoin prices predicted to hit $96000 in the next 5 years

lordmick

hero member

Activity: 868

Merit: 500

Quote from: Suckerpunchman on September 11, 2018, 01:58:54 AM

As quoted by an analyst from the article (Source mentioned below)

Quote

"Currently, the vast majority of the total cryptoasset market capitalization is held in traditional store of value markets, with offshore deposits accounting for nearly 40% of the total," they stated in the report.

Going forward, growth in this market capitalization will come "primarily from increased store of value use case penetration," the analysts claimed.

Further, they predicted that as custody solutions "come online," the "penetration" of offshore deposits will increase "dramatically."

Adding to this I personally find it a possiblity due to the recent reports as mentioned below
1. A dealership in Houston Texas accepting bitcoins for the purchase of Rolls Royce cars
2. Goldman Sachs CFO says bank is working on bitcoin derivative for clients
3. Major Japanese Department Store Chain Marui Accepts Bitcoin
Goldman Sachs cryptoasset market capitalization plans seem to be inline with the analysts
claims.
Maybe it is hard to predict the exact value of bitcoins in the next 5 years but these are major player adopting bitcoins which will contribute significantly towards the
growth and adoption rate of bitcoins.
Is the prediction over bullish in your opinion ?

Source:https://www.forbes.com/sites/cbovaird/2018/09/10/will-bitcoin-reach-96000-by-2023/#79d5b93237dc

Personally I will not be surprised if I see Bitcoin price higher than $ 100K even in the next 3 years. No doubt that Bitcoin already have changed life of millions people and will change world financial system. May be in the future it will be replaced, but because of limited supply and unlimited demand its price will increase ten times and more. Otherwise, John McAfee will have to keep his promise.

Wulanayu

full member

Activity: 336

Merit: 100

I don't really believe that, I don't think it's a small number whether it is true that in 5 years it will rise as high as it does not think if bitcoin goes down like it now takes a very long time to hit the portal again and rise to high.
I like it if the price of bitcoin is expensive, but I think if it reaches that number in 5 years, I think it's impossible to just brag.
if he controls bitcoin or groups from satoshi nakamoto then it could be but still I don't think he will raise the price of bitcoin to such high in the short term.
because that can make people lose interest in playing bitcoin coins because of the exorbitant prices.

hirngespenst

full member

Activity: 812

Merit: 114

This can be happen, though it sounds risiculous when the market is dumped too much but the reality is, bitcoin will grow and will amaze everybody again and again! Who are spreading FUD, they will regret and they will become a bitcoin fan one day!

drm

legendary

Activity: 1176

Merit: 1005

Quote from: BitcoinNewbie15 on September 11, 2018, 10:30:24 AM

Quote from: Parodium on September 11, 2018, 10:19:51 AM

There have been people predicting BTC will be $0 or $1,000,000 in the same time frame, these are all wild speculation with no real basis. You cannot simply extrapolate forwards from the 2017 bull run as that was an outlier that is not likely to be repeated again. Odds are it will stay roughly where it is for now until there is REASON for growth, which doesn't look too far away with lightning coming.

Lightning is live now, the network is continuing to grow, there is positivity bubbling up for Bitcoin. The altcoins are likely going to die, ETH is showing signs of this right now. Since Bitcoin has relatively low liquidity, the potential for a bull run similar to 2017 is still there. I think that the decision the SEC will make on sept 30 for the Vaneck ETF will be a driver for what the end of 2018/2019 holds for Bitcoin. A lot of speculators are waiting for an ETF (been talking about it since 2014) and the Vaneck/Solidx ETF seems to be the most promising proposal so far. The SEC commissioner is also pro Bitcoin ETF. If it gets approved that could cause enough hype to end the bear market and start the reversal. However, if it gets denied, I'm pretty certain we will see large panic sells that will drive the price down and into a crypto winter.

Altcoins might not have the growth that bitcoin has had, but I doubt they will die.

bitbunnny

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I realy don't bother these preductions with huge exaggerated values that Bitcoin is suppose to achieve. They are usualy not based on anything solid and represent pure speculation. Of course, when it comes to Bitcoin anything is possible but still, let's be realistic.
This sounds more like wishful thinking and dreams of some users that Bitcoin will help them to become millionares.

anhhungxadieu0402

newbie

Activity: 140

Merit: 0

I think the Bitcoin price will increase over the next few years, but relatively low. Because Bitcoin has not really made investors believe and invest in.

audaciousbeing

hero member

Activity: 1330

Merit: 569

Quote from: Parodium on September 11, 2018, 10:19:51 AM

There have been people predicting BTC will be $0 or $1,000,000 in the same time frame, these are all wild speculation with no real basis. You cannot simply extrapolate forwards from the 2017 bull run as that was an outlier that is not likely to be repeated again. Odds are it will stay roughly where it is for now until there is REASON for growth, which doesn't look too far away with lightning coming.

Please sound it for everyone to hear especially those who are relying on such predictions to make their investment decision with putting it to some logical test into what the prediction is all about.

The focus should really not about the end which is the price that has been predicted but the means to that end ie. How exactly do they expect that point to be reached. When one take a better study at those articles, you realize that its always a vague expression of opinion relying basically on percentage increase that have happened in the past rather than focus on practical adoption and use of bitcoin and the blockchain technology.

Crypto one

jr. member

Activity: 221

Merit: 5

Bitcoins getting to 100.000 within five years from now are highly possible. If bitcoins and crypto currency are still something people use in 5 years then bitcoins will most likely have crossed over 100.000 dollars.
But in a 5 years period, many things can happens, the higher the Bitcoin price gets to, the bigger the crash will be, I personally believe that we will get above 100.000 dollars for one bitcoins in the next 2-3 years.

Sutters Mill

hero member

Activity: 976

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Cryptophile at large

Quote from: Suckerpunchman on September 11, 2018, 01:58:54 AM

As quoted by an analyst from the article (Source mentioned below)

Quote

"Currently, the vast majority of the total cryptoasset market capitalization is held in traditional store of value markets, with offshore deposits accounting for nearly 40% of the total," they stated in the report.

Going forward, growth in this market capitalization will come "primarily from increased store of value use case penetration," the analysts claimed.

Further, they predicted that as custody solutions "come online," the "penetration" of offshore deposits will increase "dramatically."

Adding to this I personally find it a possiblity due to the recent reports as mentioned below
1. A dealership in Houston Texas accepting bitcoins for the purchase of Rolls Royce cars
2. Goldman Sachs CFO says bank is working on bitcoin derivative for clients
3. Major Japanese Department Store Chain Marui Accepts Bitcoin
Goldman Sachs cryptoasset market capitalization plans seem to be inline with the analysts
claims.

You think these three things lead will lead to this random $96000 figure he plucked out of his behind? Roll Eyes

. A car dealership accepting bitcoins really isn't a big deaL. It's nothing at all. I really hate these pointless speculations based on nothing but wishful thinking.

Quote from: Faroxx on September 11, 2018, 02:05:54 AM

I wouldn't be so optimistic. I think bitcoin will reach $ 60,000 in five years. 96 000$ it sounds too good for bitcoin) IMHO

Why does 69k seem doable but 96 is a stretch? I think 60k within five years is very optimistic. I wish I was full of optimism as everyone else seems to be.

bajarang8668

newbie

Activity: 281

Merit: 0

Yes, it is possible bitcoin price hit $96000 in next 5 years because bitcoin is limited and Government money is unlimited printing if bitcoin demand increases so the price also increases. John Mcafee is also predicted bitcoin price increase a lot.

HeXecutor

newbie

Activity: 56

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Well ... I think no one would be against such a strong growth of bitcoin, but it seems to me that it's too cool to be true. I would rather assume that the price will be somewhere around 50 thousand dollars ... in the best case 70 thousand dollars. On the other hand, hardly anyone has predicted that bitcoin at some point will cost even 10 thousand dollars ... so that it is possible all

BitcoinNewbie15

sr. member

Activity: 574

Merit: 296

Bitcoin isn't a bubble. It's the pin!

Quote from: Parodium on September 11, 2018, 10:19:51 AM

There have been people predicting BTC will be $0 or $1,000,000 in the same time frame, these are all wild speculation with no real basis. You cannot simply extrapolate forwards from the 2017 bull run as that was an outlier that is not likely to be repeated again. Odds are it will stay roughly where it is for now until there is REASON for growth, which doesn't look too far away with lightning coming.

Lightning is live now, the network is continuing to grow, there is positivity bubbling up for Bitcoin. The altcoins are likely going to die, ETH is showing signs of this right now. Since Bitcoin has relatively low liquidity, the potential for a bull run similar to 2017 is still there. I think that the decision the SEC will make on sept 30 for the Vaneck ETF will be a driver for what the end of 2018/2019 holds for Bitcoin. A lot of speculators are waiting for an ETF (been talking about it since 2014) and the Vaneck/Solidx ETF seems to be the most promising proposal so far. The SEC commissioner is also pro Bitcoin ETF. If it gets approved that could cause enough hype to end the bear market and start the reversal. However, if it gets denied, I'm pretty certain we will see large panic sells that will drive the price down and into a crypto winter.

Parodium

sr. member

Activity: 1036

Merit: 332

DMs have been disabled. I am busy.

There have been people predicting BTC will be $0 or $1,000,000 in the same time frame, these are all wild speculation with no real basis. You cannot simply extrapolate forwards from the 2017 bull run as that was an outlier that is not likely to be repeated again. Odds are it will stay roughly where it is for now until there is REASON for growth, which doesn't look too far away with lightning coming.

Dudeperfect

hero member

Activity: 1190

Merit: 534

Considering the current growth rate of the users, I believe that, Bitcoin will grow with an exponential growth rate in the coming 5-10 years from now. $96,000 is not impossible at all. Clarity from the legal aspect would give the required push to the actual usage of it.

turagsoy123456

member

Activity: 280

Merit: 10

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Quote from: Suckerpunchman on September 11, 2018, 01:58:54 AM

As quoted by an analyst from the article (Source mentioned below)

Quote

"Currently, the vast majority of the total cryptoasset market capitalization is held in traditional store of value markets, with offshore deposits accounting for nearly 40% of the total," they stated in the report.

Going forward, growth in this market capitalization will come "primarily from increased store of value use case penetration," the analysts claimed.

Further, they predicted that as custody solutions "come online," the "penetration" of offshore deposits will increase "dramatically."

Adding to this I personally find it a possiblity due to the recent reports as mentioned below
1. A dealership in Houston Texas accepting bitcoins for the purchase of Rolls Royce cars
2. Goldman Sachs CFO says bank is working on bitcoin derivative for clients
3. Major Japanese Department Store Chain Marui Accepts Bitcoin
Goldman Sachs cryptoasset market capitalization plans seem to be inline with the analysts
claims.
Maybe it is hard to predict the exact value of bitcoins in the next 5 years but these are major player adopting bitcoins which will contribute significantly towards the
growth and adoption rate of bitcoins.
Is the prediction over bullish in your opinion ?

Source:https://www.forbes.com/sites/cbovaird/2018/09/10/will-bitcoin-reach-96000-by-2023/#79d5b93237dc

I think this predictions can be true bitcoin price will hit to $96000 up in 5 years from now, because as the years goes by the popularity of bitcoin growth so fast and maybe that years... most of the country's are using bitcoin. And we all hopes that moments comes because it's give us a chance to achieve our dreams to becoming rich's.

Olalomi

member

Activity: 490

Merit: 12

Reading this kind of news will encourage bitcoin hodlers not to panic and this is an indication of a brighter future for hodling their coin but how realistic are these predictions? is is a gimmick to discourage panic selling? its good to be true predicting that bitcoin will hit $96K in the next 5 years if wishes comes true then its worth hodling btc for a long term.

CrazeCoinz

member

Activity: 364

Merit: 10

This is a speculative investment and those well-known holders of bitcoin will predict that the price will rise in the coming years to attract more buyers to join in crypto. It's just advertising and promoting bitcoin to other people as those who heard the prediction will try to buy and as a results this will create a bullish market. Hitting $96k in the next 5 years is a tough challenge for bitcoin as we had a bad market and this will reminds every investors of another trap.

Palo05

newbie

Activity: 49

Merit: 0

Maybe its to big but if it will hits. All crypto Investor's will be rich but that predict is to much. We will just hope it will happen Anything is possible in crypto

Suckerpunchman

newbie

Activity: 17

Merit: 0

Quote from: LastHope99 on September 11, 2018, 03:47:08 AM

Quote from: shouldbelieve on September 11, 2018, 03:36:56 AM

Even the market is going down now but i think it will come back soon. And the prediction that bitcoin hit $96000 in the next 5 years will come true.

I do believe $100 000 is possible under some circumstances, but it doesn't mean that me or you will be able to sell our btc for that price. If that huge spike happens, too many btc millionaires will appear, which is undesirable.

Could you elaborate ?

kawaihito

jr. member

Activity: 52

Merit: 1

Anything can happen in the future because we can not predict exactly. But with bitcoin, i think it can happen because i believe in bitcoin and its future.

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