Bitcoin will Hit over 700% or $250k is this possible? - page 2.

mk4

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Quote from: Wilhelm on June 11, 2022, 09:59:37 AM

Take a look at the graph and $250k becomes a possibility in 2024 and inevitable in 2034
It's up to you to determine where the upper bound of the channel hits.

https://medium.com/quantodian-publications/bitcoins-natural-long-term-power-law-corridor-of-growth-649d0e9b3c94

I'm going with the typical "Past performance is not indicative of future results" on this one. Certain patterns like this one (and like S2F) can occur, but will break at some point; 'when' is the question.

But yea — not saying that it's impossible, but I really wouldn't bet on it.

Wilhelm

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Quote from: serjent05 on June 11, 2022, 10:07:17 AM

Definitely, this kind of price range will come to a realization, and it looks like he is expecting far longer time for the price to go that range.

Quote from: Wilhelm on June 11, 2022, 09:59:37 AM

Take a look at the graph and $250k becomes a possibility in 2024 and inevitable in 2034
It's up to you to determine where the upper bound of the channel hits.

https://medium.com/quantodian-publications/bitcoins-natural-long-term-power-law-corridor-of-growth-649d0e9b3c94

Extracting the graphical presentation from the quoted article:

This graph makes it clearer that the speculation will highly possible to happen in the given time.

Thanks I couldn't be bothered to extract the image on the phone whilst on the go Kiss

#nohomo

serjent05

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Definitely, this kind of price range will come to a realization, and it looks like he is expecting far longer time for the price to go that range.

Quote from: Wilhelm on June 11, 2022, 09:59:37 AM

Take a look at the graph and $250k becomes a possibility in 2024 and inevitable in 2034
It's up to you to determine where the upper bound of the channel hits.

https://medium.com/quantodian-publications/bitcoins-natural-long-term-power-law-corridor-of-growth-649d0e9b3c94

Extracting the graphical presentation from the quoted article:

This graph makes it clearer that the speculation will highly possible to happen in the given time.

Wilhelm

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Quote from: mk4 on June 11, 2022, 09:50:19 AM

Quote from: Wilhelm on June 11, 2022, 09:31:53 AM

Yes it's very possible but it might only come in 2024

You really make it sound like 2024 is far away. If anything, don't you think that $250k in merely 2 years is too much of a stretch? Because it's highly likely to take more years than that lol.

Take a look at the graph and $250k becomes a possibility in 2024 and inevitable in 2034
It's up to you to determine where the upper bound of the channel hits.

https://medium.com/quantodian-publications/bitcoins-natural-long-term-power-law-corridor-of-growth-649d0e9b3c94

mk4

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Quote from: Wilhelm on June 11, 2022, 09:31:53 AM

Yes it's very possible but it might only come in 2024

You really make it sound like 2024 is far away. If anything, don't you think that $250k in merely 2 years is too much of a stretch? Because it's highly likely to take more years than that lol.

Wilhelm

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Yes it's very possible but it might only come in 2024

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Quote from: BitcoinPanther on June 11, 2022, 07:54:49 AM

He said it will take long time but I wonder how long do you think it will take for Bitcoin to get into this kind of price range?

If we take into account that after each halving the price increases, but that such a percentage decreases each time - let's say that after 2024 the halving price of the last ATH (about $70k) increases by x3 we would be close to the price Van Eck talks about. If the increase were only x2 (about $150k) then we would probably have to wait until 2028/29, which would roughly mean that his speculation could be realized by the end of this decade.

I'm much more optimistic than him who says it will take decades to make that happen - but at the moment I don't believe it will take that long.

bittraffic

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We are all Bitcoin believer here that's for sure and every time there is a prediction like this, it always gives hope that tomorrow will be better. Unfortunately Vaneck didn't say tomorrow or when the price will go $250K. It could be 2025?

The crypto bill of 2022 has to be ironed first to make BTC as if the government had legitimized it for everyone's doubt.

Solosanz

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Man, I tell you
Stock to flow analysis by Plan B who predict last year we will reach $100K in the last year didn't even correct, now why we should believe this self pro claimed expert who speculate Bitcoin will hit $250K?

Given how scarce and many people including government adopting Bitcoin, we can reach far higher than $250K to be honest. But talking it without any proof isn't make sense.

BitcoinPanther

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Bitcoin (BTC) Will Explode by Over 700%, According to CEO of $80,000,000,000 Asset Manager: Report

According to the news, the CEO of global investment manager VanEck that Bitcoin will possibly hit 732% or around $250,000 because institutional investors and governments will drive Bitcoin’s price appreciation. Jan Van Eck is the CEO of the $80.4 billion asset.

Quote

“Investors see it as a complement to gold. That’s the short version. Bitcoin has limited supply; the supply is visible. And it’s very hard, almost impossible, to change that. Bitcoin will go to half the market cap of gold, or $250,000 a Bitcoin, but that could take decades. It’s hard to put a timeframe on it.”

He also stated that Bitcoin is establishing itself as threat to gold. He also believe that in the long run Bitcoin will have more appreciation due to institutional and government adoption.

Quote

“Bitcoin has further price appreciation because it’s maturing. And its institutional adoption is increasing every year. It isn’t just institutional investors, but also governments around the world that are looking to it as a useful asset.”

This is probably what makes him to think that the price of Bitcoin will be greatly appreciate :

Quote

“Part of the demand for gold has been siphoned off into Bitcoin, which is emerging as a long-term competitor to gold…

Gold was the primary asset, but sometimes people bought silver or other precious metals. People looking for a store of value will look to gold, but also to Bitcoin. We’re in the middle stages of that adoption cycle, and there is further upside.”

Given his belief, I think it is plausible to think that Bitcoin will really appreciate because of the possible investment shift from gold to Bitcoin. Though it is questionable whether it will hit $250k while the previous hype of $100k is far from happening. I don't know what is his motive on releasing this kind of statement during the bear market. Is he trying to reverse the current trend with this kind of speculation? He said it will take long time but I wonder how long do you think it will take for Bitcoin to get into this kind of price range?

Source: https://dailyhodl.com/2022/06/11/bitcoin-btc-will-explode-by-over-700-according-to-ceo-of-80000000000-asset-manager-report/

Topic: Bitcoin will Hit over 700% or $250k is this possible? - page 2. (Read 259 times)