Topic: BTC could reach 6 figures (rational explanation) (Read 484 times)
Obviously, referring to the law of Supply and Demand, the six figure value of Bitcoin would be proven by the halving event that is coming in just a couple months. As the whole world have known the event, many are expecting for its price to increase massively. As long as, the players continue to hold Bitcoin till it reach a new record, this prediction would be close to a realization. Investors and supporters of Bitcoin should indeed hold and trust Bitcoin as its supply would decrease because of halving. For me, a new all time high value of Bitcoin would soon happen gradually after the month of the halving because the demand for the coin would surely increase massively.
Guys, I just posted this answered in a topic & I thought it was to good not to share it with the community.
BTC could reach six figures this or next year.
I'll tell you why. BTC preoperties & utilities make it perhaps the best sound money history has ever known. What is keeping the price at this current level is the lack of knowledge & awareness of society in this matter. There is not much clarity & a lot of confusion. I think banks & the media are confusing the masses so they can win time & try to do something that can compete before it is to late. So they can retain power and control.
BTC competes directly with this 3 markets: metals like gold & silver ($10tr +), foreign currencies ($80tr +) & offshore banking ($40tr +).
It would only take a small % of one of this markets to make BTC rise to $100.000.- a coin (2 trillion market cap). Taking everything into account I see it as something very possible & easy to accomplish in the long term. So, don't stop the HODL. The current price is a bargain.
But guys, let me be clear. I don't want to ignite FOMO. Be very careful with your investments & don't put more money than you can. There is stil a possibility that everything can go to hell. No one knows. Im just talking theory here. Reality might be much more complex.
What do you guys think?
BTC could reach six figures this or next year.
I'll tell you why. BTC preoperties & utilities make it perhaps the best sound money history has ever known. What is keeping the price at this current level is the lack of knowledge & awareness of society in this matter. There is not much clarity & a lot of confusion. I think banks & the media are confusing the masses so they can win time & try to do something that can compete before it is to late. So they can retain power and control.
BTC competes directly with this 3 markets: metals like gold & silver ($10tr +), foreign currencies ($80tr +) & offshore banking ($40tr +).
It would only take a small % of one of this markets to make BTC rise to $100.000.- a coin (2 trillion market cap). Taking everything into account I see it as something very possible & easy to accomplish in the long term. So, don't stop the HODL. The current price is a bargain.
But guys, let me be clear. I don't want to ignite FOMO. Be very careful with your investments & don't put more money than you can. There is stil a possibility that everything can go to hell. No one knows. Im just talking theory here. Reality might be much more complex.
What do you guys think?
6 figures in matter of year or two? No it wont be easy as it sounds but the possibilities you had mentioned might happened or not.It will depend on adoption though but knowing that
traditional investors wont be easily be hooked up nor recognized crypto market as viable thing for them to engage.They do always matter or do have concern when it comes to security.
This is why hesitance is still there and still seeing the market doesnt rise up much due to that reason.Institutional funds wont easily flow here on crypto.
Guys, I just posted this answered in a topic & I thought it was to good not to share it with the community.
BTC could reach six figures this or next year.
I'll tell you why. BTC preoperties & utilities make it perhaps the best sound money history has ever known. What is keeping the price at this current level is the lack of knowledge & awareness of society in this matter. There is not much clarity & a lot of confusion. I think banks & the media are confusing the masses so they can win time & try to do something that can compete before it is to late. So they can retain power and control.
BTC competes directly with this 3 markets: metals like gold & silver ($10tr +), foreign currencies ($80tr +) & offshore banking ($40tr +).
It would only take a small % of one of this markets to make BTC rise to $100.000.- a coin (2 trillion market cap). Taking everything into account I see it as something very possible & easy to accomplish in the long term. So, don't stop the HODL. The current price is a bargain.
But guys, let me be clear. I don't want to ignite FOMO. Be very careful with your investments & don't put more money than you can. There is stil a possibility that everything can go to hell. No one knows. Im just talking theory here. Reality might be much more complex.
What do you guys think?
BTC could reach six figures this or next year.
I'll tell you why. BTC preoperties & utilities make it perhaps the best sound money history has ever known. What is keeping the price at this current level is the lack of knowledge & awareness of society in this matter. There is not much clarity & a lot of confusion. I think banks & the media are confusing the masses so they can win time & try to do something that can compete before it is to late. So they can retain power and control.
BTC competes directly with this 3 markets: metals like gold & silver ($10tr +), foreign currencies ($80tr +) & offshore banking ($40tr +).
It would only take a small % of one of this markets to make BTC rise to $100.000.- a coin (2 trillion market cap). Taking everything into account I see it as something very possible & easy to accomplish in the long term. So, don't stop the HODL. The current price is a bargain.
But guys, let me be clear. I don't want to ignite FOMO. Be very careful with your investments & don't put more money than you can. There is stil a possibility that everything can go to hell. No one knows. Im just talking theory here. Reality might be much more complex.
What do you guys think?
Those markets you reference are driven by large investors or institutions. Something will have to shift rather quickly to get them to play in the crypto market. Drops like we see in crypto would have people losing careers and life savings if they happened in other markets. It might take awhile for a portion of those markets to shift into crypto. Right now crypto is the super pink sheets in the investing world as a whole. Can it happen sure is it likely to 10-12X from here next year, I think that might be a stretch but who knows right
Very promising post,worth reading when things really happen because it looks truthful because i also believe that the innocence of people around the globe is what Hindering the price to step up and make a new HYPE.
how i wish the adoption comes soon now and market will kick start breaking the 2017 highest value of all time.
It worth reading all the mentioned price range are just prediction of what the price of bitcoin market could be after halving and no one is 100% sure it that their prediction will happen.how i wish the adoption comes soon now and market will kick start breaking the 2017 highest value of all time.
Nevertheless,it too early to expect the crypto market to experience rally and I'm sure you'll agree with me if you check the year 2017 market thoroughly.
Very promising post,worth reading when things really happen because it looks truthful because i also believe that the innocence of people around the globe is what Hindering the price to step up and make a new HYPE.
how i wish the adoption comes soon now and market will kick start breaking the 2017 highest value of all time.
how i wish the adoption comes soon now and market will kick start breaking the 2017 highest value of all time.
Reaching 6 figures and maintaining 6 figures are 2 different things. Take ETH for example. Back in 2017 it started out at less than $10, and around a year later it peaked at $1400. So basically a 140x growth, which is unbelievable but completely unsustainable.
So its possible that we might break $20K and quickly go to $25K and then the FOMO will build, people will see Bitcoin on TV and newspapers and within 2 months we can quickly get to $100K however it won't be able to hold that price because it will only take a few early adopters to start selling in massive quantites and won't be enough demand to keep up with massive supply.
Absolutely correct reasoning. Even if we assume that the price of bitcoin will soar for some reason up to one hundred thousand dollars, it is unlikely that it will stand for long at this mark. It will inevitably fall in the future. Therefore, a significant increase in the price of bitcoin is fraught with another danger. How will investors relate to Bitcoin after the drop in the price of Bitcoin again to ten thousand dollars? Will the next wave of growth in its price be possible if investors know that Bitcoin will fall again after a price increase, which means that it is not worth investing in it with a significant increase. In my opinion, this is precisely what will prevent the Bitcoin from growing too high in value later. So its possible that we might break $20K and quickly go to $25K and then the FOMO will build, people will see Bitcoin on TV and newspapers and within 2 months we can quickly get to $100K however it won't be able to hold that price because it will only take a few early adopters to start selling in massive quantites and won't be enough demand to keep up with massive supply.
Great article and you have mentioned every details clearly which educates us about how bitcoin works and why the value did not reach 6 digit figure till now but I would still not believe that the value of bitcoin will reach 6 digit anytime sooner. Already we have witnessed similar speculations I am not trying to portray this in negative way but there are so many factors which decides Bitcoin's value and even if something goes wrong then market will go downward spiral like it happened in last two year.
This possible "downward spiral" after May, is protected by the increase of the stock to flow ratio, bull market long term steady FOMO & increment of the number of people doing HODL.
2 years ago, was exactly the middle of the 4 year cycle. It was a price that only grew in short term FOMO, without any downward protection.
Great article and you have mentioned every details clearly which educates us about how bitcoin works and why the value did not reach 6 digit figure till now but I would still not believe that the value of bitcoin will reach 6 digit anytime sooner. Already we have witnessed similar speculations I am not trying to portray this in negative way but there are so many factors which decides Bitcoin's value and even if something goes wrong then market will go downward spiral like it happened in last two year.
What is keeping the price at this current level is the lack of knowledge & awareness of society in this matter. There is not much clarity & a lot of confusion. I think banks & the media are confusing the masses so they can win time & try to do something that can compete before it is to late. So they can retain power and control.
What is keeping the price at this current level is the centralization of the supply in the hand of a few whales. 99% of the supply is controlled by 1% of users.
Lack of clarity and knowledge by the masses is a consequence of this fact, not its cause. People dont use it because they fear it. How can someone receive his wage in bitcoin if its price can fall 40% in the next month? Plus there is the responsibility which is higher than just leaving your money in a bank. Most people dont want responsibility over their own money.
For now, we are at mercy of the whales and they will define the price in their bunkers, like in a spy flick.
Interesting isn't it, how we've widened our perceptions for what makes for rational explanations, once we really get down to it? I already said now in my mind rational price is already very relative in my Bitcoin vocabulary, but once we also take into account other factors like supply (I still think it's irrational to think of 1 BTC instead of 1 satoshi) and mining ATH (I still think it's irrational that the biggest miners are thinking to double or triple their rig capacities in a few months), then we start to see it's a bit pointless to define the limits of what's rational for Bitcoin =)
Everyone can make a logical explanation why it could reach that 6-figure price but in reality, we will be missing a lot of factors that are vital in its growth. Without solid adoption from masses, which by the way most of btc holders are holding it and not spending it as a regular money like fiat, would be a large contribution on how the btc performs in the market. I believe if a large percentage of population will be using crypto as everyday payment method in everything he does, I truly believe the price will go high.
BTC could reach six figures this or next year.
Nearing 6 figure by the end of 2 years can be a great growth but going 6 figures within a year is a very clear market manipulation. I'm very much expectant of the pricing by September (halving). The run for 10k this month has ended since there is a lack of support at $9300+ pricing but since we are now on $9000 mark I expect support to be seen at around $9600+ by 2nd week of February. Growth must always be driven by support not just a synthetic growth or clear whale manipulation.
But, a capped supply, and growing demand makes Bitcoin hold its value in. It might look volatile/manipulated between peaks and troughs, but I believe reaching a 6 figure price would make 100 - 1000 moves look stable.
Maybe Bitcoin was made to be a 6 figure coin.
BTC could reach six figures this or next year.
Nearing 6 figure by the end of 2 years can be a great growth but going 6 figures within a year is a very clear market manipulation. I'm very much expectant of the pricing by September (halving). The run for 10k this month has ended since there is a lack of support at $9300+ pricing but since we are now on $9000 mark I expect support to be seen at around $9600+ by 2nd week of February. Growth must always be driven by support not just a synthetic growth or clear whale manipulation.
Interesting isn't it, how we've widened our perceptions for what makes for rational explanations, once we really get down to it? I already said now in my mind rational price is already very relative in my Bitcoin vocabulary, but once we also take into account other factors like supply (I still think it's irrational to think of 1 BTC instead of 1 satoshi) and mining ATH (I still think it's irrational that the biggest miners are thinking to double or triple their rig capacities in a few months), then we start to see it's a bit pointless to define the limits of what's rational for Bitcoin =)
The challenge to get into six-figure level can be so big that maybe we should stop thinking that it can happen within just 2 or even 5 years...we should allot more budget of time for this level to come into reality. Right now, there are many "problems" associated with Bitcoin but as for me things all boil down to the level of demand for this said cryptocurrency. We know that it has a limited supply of around 21 millions and this can be fixed so it is on the side of demand and use-cases where the biggest challenge is. Personally, I am allowing maybe 15 years as conservatively the time needed for BTC to reach the 6-figure zone (based on how things are going on right now), that is if Bitcoin will not be dead before it reached the line.
I respect your opinion. But you are talking from what you believe & not from solid arguments or real rationalisation.
What you are saying can be applied to every moment before each halving or bullrun in BTC history. All those rising prices have been insane & people who predicted correctly where called crazy. Why shouldn't the price behave the same way towards the future? ..
This is very likely to happen. Since the supply of Bitcoin is limited, the demand for Bitcoin is increasing day by day. Bitcoin prices will continue to rise as incredible as mass adoption. And this is why Bitcoin will go to 6 figure. But no one can say how many years it will take. First Bitcoin will have to break the previous ath, then the rest will know how long it will take.
yeah bitcoin has limited supply but there are also altcoins flowing in the market so the demand in Bitcoin will lessen when the altcoins comes to their own functions,remember that all these currencies has their own service and products offered that can help the people in their daily lives so i believe that when this happen Bitcoin will be the ranked number 1 still but alts will help him serve the people.and most people who hold bitcoin will definitely sell their bitcoin when bitcoin has reached a high price of $ 25k. and of course if many sell then this will make the price of bitcoin go down again.
It really depends. Smart money definitely has exits strategies, but most people (dumb money) act irrationally during either bear or bull markets.
I have seen it happen around me where people aren't satisfied with the number of coins that they hold and think it's better to add to their position instead of unloading. I think it's safe to say that we all have gone through a time where we wish we bought more coins instead of being so conservative. It's tough to see the price go up a lot while at the same time thinking about how much profit you could have had if you bought more.
In the end, it's better to just have a big fat hodl stack and sit on it for 5-10 years than to worry about missing out on the next bull cycle. The base floor of the price keeps increasing steadily, but gets a massive boost after each bull cycle, even after the 70-80% bear market.
What a good post. This is very true. And the majority of people who are holding big money are old. They see BTC without respect, as if it where a joke. Like a geek toy. So they don't study it. Don't get sirious about it. But the thing is that nobody wants to be left behind. If BTC builds up more momentum & numbers start to spike, & get massive. Then they will look at it siriously & they will finally see it's inmense value & more money will begin to enter. Slowly but finaly the big players will be interested. There will be more infrastructure, crypto banks, custiodans, regulation, etc. Money will move from the rich to the poor. Anyone that HODL hard for long term will benefit from this wealth transfer.
Thanks, I'm glad at least someone reads and appreciates my opinion
It's not just old people that are the problem when it comes to investing in BTC, but I agree that it is very difficult (or in some cases almost impossible) to give up old habits, and risk with something completely new, which is actually still in a kind of test phase. The tradition of investing in gold and silver as a means of storing the value has been around for hundreds if not thousands of years. Fiat has also taken deep roots in today's society, and BTC is still rather undervalued, regardless of all the risks it carries.
I also think that those who have invested their time or money in BTC in any way will profit in the long run, but I still consider it a very risky bet. But it is something that can only be proven with time, so far things are going their course and the future is not looking bad.
The next 10 years. It's safer, ask John McAfee.
That guy is a joke. He has way more credit than he deserves.
I lost all respect, when I knew he got paid to create FOMO, by saying BTC would reach 1 million in 2020.
So be careful, there is also corruption in the crypto world. Some individuals in social media get paid to create FOMO & help create artificial rally's.
You didn't understand the joke. Gentlemand said 6 digits within the next couple of years. I joked for him to make a "safe" prediction, 10 years, and don't make the same mistake John McAfee did.
lol I got it now!
I think bitcoin has reached the price of 6 digits in two years, but that irrational is too high. at the moment the price of bitcoin is only $ 8k I think it will take longer to reach $ 100,000. and most people who hold bitcoin will definitely sell their bitcoin when bitcoin has reached a high price of $ 25k. and of course if many sell then this will make the price of bitcoin go down again. so I don't think bitcoin will reach $ 100k in 2021.
50 years later if BTC still lives, it may be 6 figures. I'd be long buried by that time. But the moment the price hit 6 figures, it will eventually plunge because most of us are just going to take profit til the market recovers again. The bear market will take place for long years again. I really do hope 6 figures will come to realize, I wanna buy myself a helicopter too like Kobe Bryant.
That's a very long target. If it takes 50 years for Bitcoin to get to $100k+, that means we're going to see a very powerful resistance in the market so I doubt it.
We're probably going to see it sooner than you expect. Especially with today's global debt and inflation.
It truly depends on the way markets develop. We cannot have a $2T market cap if the number of investors and holders doesn't continue to grow.
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