DID YOU THINk BITCOIN CAN REACH 500K IN THE END OF THIS YEAR

aeternus

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Quote from: Don Pedro Dinero on March 10, 2018, 06:55:55 AM

Quote from: terrific on March 03, 2018, 12:20:44 AM

Quote from: bitserve on March 02, 2018, 09:49:07 PM

$500K at the end of this year? Not completely impossible, but NO. Hell no. I wish, but no. No way.

I'd say the same that it's completely impossible for this year. My limit for the price would be $30,000 - $50,000.
Too much asking for the price of bitcoin. Let it recover first from the dip that it went through.
Don't believe with high speculations that are just giving out numbers without technical analysis.

It’s funny because when I see some of you saying it’s impossible, I remember reading back a post last year, when bitcoin almost reached $20,000, where in the first comments people were saying that it was impossible to reach $10,000 in 2017.

I think it is unlikely but bitcoin is very volatile and some good news+ ATH+ FOMO can boost the price a lot.

The biggest difference with the previous year has to do with the fact that price already pumped, bitcoin went from 1000 to 20000 in just one year, however the excitement for bitcoin has cooled down there is no more new money that can enter the market and most people that were already on the market spent all their money to buy their bitcoins as you can see there is not enough money on the sidelines to create another pump.

Basmic

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It seems to me that bitcoin will reach such indicators not soon. But high bitcoin price figures are not the main goal. On the contrary it will hinder the development of the popularity of this coin. Who can afford to buy such an expensive asset? I think after we buy all the coins, we'll sell them at that price to the rich.

Bardman

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Quote from: Don Pedro Dinero on March 10, 2018, 06:55:55 AM

Quote from: terrific on March 03, 2018, 12:20:44 AM

Quote from: bitserve on March 02, 2018, 09:49:07 PM

$500K at the end of this year? Not completely impossible, but NO. Hell no. I wish, but no. No way.

I'd say the same that it's completely impossible for this year. My limit for the price would be $30,000 - $50,000.
Too much asking for the price of bitcoin. Let it recover first from the dip that it went through.
Don't believe with high speculations that are just giving out numbers without technical analysis.

It’s funny because when I see some of you saying it’s impossible, I remember reading back a post last year, when bitcoin almost reached $20,000, where in the first comments people were saying that it was impossible to reach $10,000 in 2017.

I think it is unlikely but bitcoin is very volatile and some good news+ ATH+ FOMO can boost the price a lot.

People were saying that it wont even reach 1k again when it dropped to 100$

These long term predictions for a market like crypto are totally worthless, the market is too fresh to predict long term. We are not talking about USD/EUR or stocks that have been around for decades, we are talking about a market that has only seen serious investors a few months ago.

redsun114

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Quote from: amirshaf on March 02, 2018, 09:42:33 AM

For my opinion will not can reach this price i can beilve i will pump till 30k . And i have to know Do you believe John McAfee is right about Bitcoin hitting $500,000 in 3 years?
It’s interesting that almost all existing analysis of cryptoassets are from the point of view of fundamentals (or lack thereof). It’s often useful to look at things quantitatively instead.

So here, what we really want to understand is the probability of bitcoin reaching $500,000. There are a few ways to do that.

My way is we can assume a completely random process and take a “gambler’s ruin” perspective. What is the probability that a random process will hit $500,000 before it hits $0? Given that the price as of end 15 dec 2017 is about $23,000, we’d get $23.000/$500,000 = 5%.

Anything is possible but somethings are not realistic and even if it happens, it would be another FOMO rush and not a steady growth which should make you scared when it happens this year.

$19k was too high last year, no doubt and even though some fell for it does not mean in the long term, they won't get their huge profit in the long run. Even $19k is cheap compared to the future value and prospect but $55k this year is impossible.

Don Pedro Dinero

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Quote from: terrific on March 03, 2018, 12:20:44 AM

Quote from: bitserve on March 02, 2018, 09:49:07 PM

$500K at the end of this year? Not completely impossible, but NO. Hell no. I wish, but no. No way.

I'd say the same that it's completely impossible for this year. My limit for the price would be $30,000 - $50,000.
Too much asking for the price of bitcoin. Let it recover first from the dip that it went through.
Don't believe with high speculations that are just giving out numbers without technical analysis.

It’s funny because when I see some of you saying it’s impossible, I remember reading back a post last year, when bitcoin almost reached $20,000, where in the first comments people were saying that it was impossible to reach $10,000 in 2017.

I think it is unlikely but bitcoin is very volatile and some good news+ ATH+ FOMO can boost the price a lot.

farwellbit

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Quote from: aardvark15 on March 02, 2018, 10:27:48 AM

Not this year. Anything can happen but I don’t think we will see a recovery that quickly. It could take several more months of prices going sideways before we see all cryptocurrencies begin to recover.

I could see the price reaching $20,000 this year but maybe later in the year. Then I think prices will reach new highs and well beyond for many of the major cryptocurrencies.

I even feel this year would be one of those years when we would not really see much and all we will end up seeing would be some accumulation period without much happening, no all-time high and so on. However, that does not stop what can happen later on, and since we already know that bitcoin is full of so many surprises, we can still leave room for anyone that comes, but in the real sense of things, $55000 is unbelievable and unimaginable.

rickadone

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Quote from: LFC_Bitcoin on March 02, 2018, 10:30:42 AM

$55,000 per bitcoin?

Not this year imo, no. It’d take some seriously bullish news to rise that much. I think we’ll see something like $55,000 per bitcoin as a result of natural growth in a couple of years. It’ll most likely happen 6 - 12 months after the next halving.

Unless specific news caused a rally in the market, there is nothing yet that can push the value of bitcoin up that way.
What we saw last year with the Fomo rush can only happen once in a while and unless we get to see some pretty solid development that can bring about real adoption globally or on the mainstream level before we can see such a value this year, but at this point, somethings cannot even be imagined. Moreover, McAfee is fund of just playing with his follower's mental state with his unnecessary and baseless bullish predictions.

aeternus

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Quote from: bitserve on March 03, 2018, 12:40:18 AM

Quote from: terrific on March 03, 2018, 12:20:44 AM

Quote from: bitserve on March 02, 2018, 09:49:07 PM

$500K at the end of this year? Not completely impossible, but NO. Hell no. I wish, but no. No way.

I'd say the same that it's completely impossible for this year. My limit for the price would be $30,000 - $50,000.
Too much asking for the price of bitcoin. Let it recover first from the dip that it went through.
Don't believe with high speculations that are just giving out numbers without technical analysis.

Yeah $30K-$50K is within the posibilities.... It is also possible to just go down from here. Both are almost equally possible. But, $500K? No way.

If we were talking in 10 years, then, donno, maybe if we want to be optimist...

Even those prices seems to be a little bit farther away than we thought, after all there is not much of a reason for people to be bullish about bitcoin, unless we get the lightning network activated right away those prices seems to be impossible, especially if we take into account that the market is going down once again I do not know if this is to sign of a dump, I hope it is not the case but the possibility is there.

fabiorem

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McAfee is probably deluded.

That guy from Xapo had predicted 1 million per coin by 2027. This one is more realistic, considering it will take time to have dozens of sidechains for worldwide use, a functional network of satellites with easy access and no more kobayashis dumping coins in exchanges instead of going OTC.

So I would cut one zero from your question, and put it around 50k by the end of the year. Then a steady rise to 500k by the end of 2022. But this is just speculation, lets see what will happen after "Goxxed 2.0" is over.

Kronos21

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I can't say but even if bitcoin reaches the price of $ 500,000, this does not mean that all will be millionaires. Most of those who have coins will now sell them before the price reaches that limit. Whales will buy all the coins and bitcoin will become the prerogative of millionaires. As an example, you can recall the well-known history of buying pizza.

Baoo

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Everything is expected in the era of bitcoin, but I do not think that we will see the price of Bitcoin become 500K in this year, but it is possible, that after a few years we will see this huge value (500K) or more especially when the governments will regoznie Bitcoin as a legal currency and then everything will change for the better in the field of funds.
In addition to that, I think in this year there will be some difficulties and successive crises in Bitcoin But those drops in value will be a bit temporary. As well, I'm pretty sure that after a few months (1-4) the price of this currency will rise with a fast way and may it will become between 30K and 40K.

naidray

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Quote from: Paractor on March 02, 2018, 10:00:26 AM

I am beginning to think that McAfee is just having fun with bitcoin from creating fud on his twitter about binance to pumping up alt coins and being an obvious shill for them without doing research on them causing a dump on the markets.

With the amount of followers he has all it takes is one miscued message and any alt coin can be screwed up. Roll Eyes

Lol. So you did not know he is just a man trying to play on his followers to get some coin pumped after he has accumulated and then dump on them. Do you know why the rich keep getting richer, that is because they are very greedy too and those ones that are greedy will go to any length to deceive their followers.

You should check some times that the coins he supports are shit coins, so what does that say about him ? He is just fond of giving baseless speculations, but we cannot hold him responsible for those who fall for it, since it is a free world.

YinShuiSiYuan

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This year there is no chance of achieving such a high price. This is a very optimistic prediction. There are so many factors affecting the price that it's hard to predict anything. Maybe one day in a few years.

hase0278

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Quote from: tabas on March 05, 2018, 09:55:13 PM

$500,000 for this year would be very bullish and there must be billions or I mean there's a need of trillion's of dollars that will come in to cryptocurrency to make it happen. I don't think so we will see it coming for this year, let's wait for more years.

I believe it is impossible(or nearly impossible) for bitcoin to reach the speculated price as price is not always increasing, and so is demand. First of all, there is no tangible thing that gives it value, price is only based merely on buying and selling(and also speculations). There is also a possibility that a better coin will come along to dethrone btc or government intervenes and many more possibilities. If it were to not happen though, the chance of btc reaching the said value by 2 decades is less than a 1% IMO.

Happiest

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Do not trust whatever McAfee has to say, the guy just blows up words without adequate meaning, reasoning and calculations (more reasons why most ICO remove him as their advisor, including the ICO I'm wearing their signature) . How can bitcoin just reach $500,000 within three years. Though, bitcoin is capable to achieve greater price in the coming year but is inconclusive to say that and sounds like a get rich quick scheme. In the next three years, we are looking at the price of $50,000 at most. And moreover, nobody can actually predict the actual price of bitcoin.

bohr

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Quote from: aardvark15 on March 02, 2018, 10:27:48 AM

Not this year. Anything can happen but I don’t think we will see a recovery that quickly. It could take several more months of prices going sideways before we see all cryptocurrencies begin to recover.

I could see the price reaching $20,000 this year but maybe later in the year. Then I think prices will reach new highs and well beyond for many of the major cryptocurrencies.

I agree that price may be reached in the future maybe in a few years but to think it is going to be reached that fast is a huge mistake the problem with these kind of predictions is that some people believe in them and when the predictions do not come true then they get disappointed and sell too soon and then when the price finally reaches the target mark they realize they have no bitcoin in their wallets and they get no profits.

greenclub09

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it sounds like a dream, how can bitcoin rises that fast in just a year, specially with a coin has high value, because the higher the price the slower it rises. So it will be very crazy for bitcoin to reach 500k in this 2018, and even a very long time from now, bitcoin still hardly have the chance to rise that much, because it is unpractical prediction.

terrific

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Quote from: bitserve on March 03, 2018, 12:40:18 AM

Quote from: terrific on March 03, 2018, 12:20:44 AM

Quote from: bitserve on March 02, 2018, 09:49:07 PM

$500K at the end of this year? Not completely impossible, but NO. Hell no. I wish, but no. No way.

I'd say the same that it's completely impossible for this year. My limit for the price would be $30,000 - $50,000.
Too much asking for the price of bitcoin. Let it recover first from the dip that it went through.
Don't believe with high speculations that are just giving out numbers without technical analysis.

Yeah $30K-$50K is within the posibilities.... It is also possible to just go down from here. Both are almost equally possible. But, $500K? No way.

If we were talking in 10 years, then, donno, maybe if we want to be optimist...

It's a long journey and way before bitcoin goes to $30,000 - $50,000. Sometimes its good to have some speculations that are too high.
10 years time is possible to see bitcoin $500,000 but this early for this year its something that we can't assure if its possible.

tabas

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$500,000 for this year would be very bullish and there must be billions or I mean there's a need of trillion's of dollars that will come in to cryptocurrency to make it happen. I don't think so we will see it coming for this year, let's wait for more years.

PalindromemordnilaP

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No, not really. I don't really think bitcoin can and of course, there's a lot of resistance around it whenever bitcoin plunges down its market value. If i have to speculate, bitcoin will only reach 30K USD - 50K USD all time high.

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