Bitcoin will replace the Silver Marketcap - page 3.

matjas

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Quote from: virasog on February 20, 2021, 04:10:37 PM

Bitcoin is now 1/10th of the gold marketcap. It is currently at 1 trillion and it needs to raise by 10 times in order to reach 10 T marketcap. This means that roughly the bitcoin price will be 500,000$ at that moment. I don't see this happening in this market cycle. However, we might be on top of gold, after the next market cycle in 2025.

By 2025 gold price will go up more and marketcap of top companies will raise too, so i am pretty sure BTC price will have to be higher then 500,000$ in order to overtake gold.

virasog

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Quote from: mk4 on February 20, 2021, 05:48:44 AM

In my opinion it really doesn't make that much sense celebrating when bitcoin overtakes marketcaps of certain companies. Silver though? Significantly a bigger deal, and it ain't really that far off from here— we only need approximately 45% increase from here.

On the other hand, bitcoin overtaking gold? Now THAT's a huge huge deal.

Bitcoin is now 1/10th of the gold marketcap. It is currently at 1 trillion and it needs to raise by 10 times in order to reach 10 T marketcap. This means that roughly the bitcoin price will be 500,000$ at that moment. I don't see this happening in this market cycle. However, we might be on top of gold, after the next market cycle in 2025.

tinopener

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I've been thinking that the growth of Bitcoin is actually a good thing for other traditional assets, well mostly the stock market.

The stock market is in danger of overheating, and if some money flows into Bitcoin instead, it may prevent it bubbling up too much.

Bitcoin the pressure safety valve. Who knew Wink

cr1776

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Just remember that the price is set at the margin, so it isn't as if 9 trillion dollars needs to come into the market to get to gold's market cap. For example, if there were only 100 BTC for sale between here (57k) and, say, 600,000.00, it wouldn't take much. The question is how many coins will be for sale between here and 600k? Certainly not every coin is for sale.

If there are 500,000 coins for sale between here and 600k you are talking about at most "only" $300 billion in new investments to get to gold's market cap. (That's if all sold at 600k.)

The people selling now are similar to the ones selling at 1, 10, 30, 1000, 10000 and they'll likely regret it as much later.

Bitcoin will eventually catch silver, it is just a question of when, purely a supply and demand issue. When you have people buying on the margin, they'll get liquidated on a drop exacerbating the drop. When you have people shorting it, they'll have to cover on the upswings, reinforcing the upward trajectory.

With people who aren't prone to panic (one hopes, like Tesla, MSTR etc) the available coins will shrink. As the market grows, it will become more stable, and things like the Canadian ETF help. Now the US needs one to give GBTC some competition.

Jating

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Quote from: mk4 on February 20, 2021, 05:48:44 AM

In my opinion it really doesn't make that much sense celebrating when bitcoin overtakes marketcaps of certain companies. Silver though? Significantly a bigger deal, and it ain't really that far off from here— we only need approximately 45% increase from here.

Yeah, I agree, those are just numbers though, so it's no biggie if we see bitcoin overtaking "X company" or "X commodity".

Quote from: mk4 on February 20, 2021, 05:48:44 AM

On the other hand, bitcoin overtaking gold? Now THAT's a huge huge deal.

Bitcoin needs to get x10 to overtake gold, so that's a significant amount of capital that needs to flourish to bitcoin market. So it might take years to happen, and I don't know where that huge influx of money will come. Unless the world will go full bitcoin in the next 10-20 years to replace Gold as a store of value and being used by government as hedge.

Oshosondy

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Quote from: mk4 on February 20, 2021, 05:48:44 AM

On the other hand, bitcoin overtaking gold? Now THAT's a huge huge deal.

This is truly a huge deal, but time will tell. Bitcoin has made it through such being most successful asset that is newly developed (just 11 years ago) it is a sign that gold have no option than to be in the second position. This is just a matter of time that may not be more than 2 decades. People will still later prefer more of bitcoin, the reason is the reason institutions are going for bitcoin now, seeing it more deflationary than any other asset which will make it more valuable in the future.

Review Master

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If bitcoin hits $80k with this current bullish rally and than it'll be a matter to time to get closure to silver or even replace the silver marketcap. More likely, it'll done within a few months as more and more institutional investment is going and Elon Musk is doing the PR of Bitcoin as well. So, just wait for the right time to celebrate that milestone.

mk4

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In my opinion it really doesn't make that much sense celebrating when bitcoin overtakes marketcaps of certain companies. Silver though? Significantly a bigger deal, and it ain't really that far off from here— we only need approximately 45% increase from here.

On the other hand, bitcoin overtaking gold? Now THAT's a huge huge deal.

JohnBitCo

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It look like bitcoin is heading to replace the silver marketcap this year. How quickly bitcoin is moving up, no one can't imagine.

Topic: Bitcoin will replace the Silver Marketcap - page 3. (Read 380 times)