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

aeternus

sr. member

Activity: 686

Merit: 250

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

sr. member

Activity: 406

Merit: 256

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

hero member

Activity: 952

Merit: 516

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

hero member

Activity: 2730

Merit: 585

Leading Crypto Sports Betting & Casino Platform

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

legendary

Activity: 1358

Merit: 1565

The first decentralized crypto betting platform

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

full member

Activity: 287

Merit: 102

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

legendary

Activity: 1176

Merit: 1024

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

sr. member

Activity: 686

Merit: 250

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

sr. member

Activity: 1400

Merit: 347

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

sr. member

Activity: 434

Merit: 255

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

full member

Activity: 868

Merit: 116

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

legendary

Activity: 1232

Merit: 1029

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

hero member

Activity: 1680

Merit: 505

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

hero member

Activity: 882

Merit: 544

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

member

Activity: 207

Merit: 22

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

sr. member

Activity: 994

Merit: 257

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

full member

Activity: 560

Merit: 102

BBOD - The Best Crypto Derivatives Exchange

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

hero member

Activity: 2324

Merit: 513

Catalog Websites

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

hero member

Activity: 3024

Merit: 745

Top Crypto Casino

$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

full member

Activity: 518

Merit: 101

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.

--DarkSecrets--

hero member

Activity: 854

Merit: 500

Stake & Vote or Become a IoTeX Delegate!

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%.

The present predictions along the web was $50,000 target this year so if you are speaking of $55k it would be likely a dump before that can reach and for 500k this year and in 3 years is too much speculative that is predicting 3 years from now many things and events can begin to happen we don't know.

Johnyz

full member

Activity: 2086

Merit: 193

Quote from: Rajamuda on March 03, 2018, 02:30:43 AM

For me, I'm not wishing too high about the price would be in there, I'm personally haven't at all yet to thought it will be achieved, anyhow the circumstances that's not known yet.. haven't yet can ensure the price will achieve it, it's so high Shocked

.

This is too much speculation, and I think its not possible this year. I believe it can reach that price 2-3years from now though we will be encounter so many ups and down but we will be on that level. If you're a believer try to hold your bitcoin until the end of this year and hopefully bitcoin will beyond $20k.

Crytptohack

member

Activity: 126

Merit: 15

HodL!

Trying to place a price on any asset with a specific time frame is not advisable at all as NO ONE knows exactly where any financial asset will be in the future. If anyone in the world could do this, they would have an unlimited amount of currency (fiat).

BTC was in a trading range for quite some time before the big breakout year, 2017.

Metcalfe made a chart of a network and it's exponential growth based on a continuing user base. If BTC continues to gain a huge worldwide adoption, it may continue to gain value or price growth. That being said, I speculate that the BTC price will be higher than the current price going forward.

Oceat

sr. member

Activity: 2506

Merit: 368

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%.

As of today, the odds are clearly telling you that it is too difficult to happen. The main focus for now is how will Bitcoin going to hit the $12.5k resistance and i think it is about to happen in just a matter of time. Then reaching again for another resistance level which is i think $15k and by thinking like this you are helping yourself to gain a good profit here. Just forget about that $500k in 3 years because by just looking at the current price right now it is too difficult to happen. We do have a steady price range of $8k - $11k last month and i am thinking what would it be this time.

Idrisu

sr. member

Activity: 924

Merit: 260

Seriously I doubt if bitcoin will get to $500,000 before the end of 2018 and the current happening has even make some speculators to said bitcoin might not hit $50,000 or even it last year high of $20,000! Bitcoin has the capacity to get to $500,000 and the reality is that it might not be this year but some years to come.

Lionel

sr. member

Activity: 613

Merit: 305

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%.

By "completely random process" you mean it can drop to 0 with no recover?
I don't think so, as at this point Bitcoin has too much of a big user base in the world, that when the price drops significantly , many people take advantage to buy low, and the price slowly recovers again.

So the whale dumps at this point cannot eliminate Bitcoin from the face of the Earth.
BTC is too popular by now

Rajamuda

sr. member

Activity: 924

Merit: 255

For me, I'm not wishing too high about the price would be in there, I'm personally haven't at all yet to thought it will be achieved, anyhow the circumstances that's not known yet.. haven't yet can ensure the price will achieve it, it's so high Shocked

.

lablab03

full member

Activity: 1064

Merit: 112

Quote from: ?? on ??

I wish it would happen, but I think not this year. Some currencies will dump, so it wouldn't happen this year. I wish many investors will invest in Bitcoin so that it will pump up.

500k is too high to reach on this year even though 30k in the future is impossible due to the whales and some FUDs that always exist in the market and around the internet which the common reason why the price of bitcoin always dropped back after it goes to the higher value .

airdagon

member

Activity: 546

Merit: 17

OMG! it is impossible to happen in this year bro haha
try you take a look, does this situation allow to reach $ 500k at the end of the year? IMO if in 2018 the situation is still like this, reach
$ 30k figure will be very difficult.
so do not think so far, we just think how to make this year we can exceed like the year 2017 ago.

bitserve

legendary

Activity: 1862

Merit: 1530

Self made HODLER ✓

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...

terrific

hero member

Activity: 2324

Merit: 513

Catalog Websites

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.

bitserve

legendary

Activity: 1862

Merit: 1530

Self made HODLER ✓

Quote from: TERA2 on March 02, 2018, 08:01:19 PM

I dont think itll reach 500k ever

Hey TERA, you are a true party popper!

bitserve

legendary

Activity: 1862

Merit: 1530

Self made HODLER ✓

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

xPPx

sr. member

Activity: 531

Merit: 250

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%.

$500K? Possible, but HIGHLY unprobable...

TERA2

full member

Activity: 266

Merit: 222

Deb Rah Von Doom

I dont think itll reach 500k ever

batang_bitcoin

hero member

Activity: 3080

Merit: 603

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

And i have to know Do you believe John McAfee is right about Bitcoin hitting $500,000 in 3 years?

He changed it to $1,000,000. At first, I'm believing him with $500,000 but as the time goes by I'm having doubts with his prediction and even with his word about $500,000.

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

What is the probability that a random process will hit $500,000 before it hits $0?

Are you expecting that after a massive pump that will be held by bitcoin will be followed by a quick dump and will finally go to zero? News, adoption, market cap, more investors can lead bitcoin to that price and also to a negative one.

Yaunfitda

hero member

Activity: 2870

Merit: 594

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%.

I wouldn't put too much on what John McAfee is saying. He has been very bullish about bitcoin and most of his coins of the day are shitcoins anyways, and John trying to pump it because I'm sure that he has already stash tons of it and will take the profits if his dumb twitter followers will also bought it.

$50K for me is possible this year. It will be like x5 at $10K price so I don't think that it will be that hard to touch that at the end of the year.

But $500,000 in 3 years? I don't know. There will be so much factors needed to be at the exact moment to see at least $100K in the future. Let's cross that bridge when we come to it.

timerland

hero member

Activity: 1526

Merit: 596

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%.

John McAfee actually raised his prediction to $1 million within 3 years, if I remembered correctly. And his dick is on stake here.

Your assumptions are incorrect. Bitcoin isn't a gambling game, you cannot try to predict the probabilities of a future price by dividing the current price with the price target. Currency speculation is emotional and sometimes rational, not gambling.

Either way, I don't see BTC's potential to reach $500k/1 million this year, or even in 3 years time. I doubt an ATH will happen this year, as well. If it does it won't hit your $55k figure, that would be essentially 10x the bottom.

We're seeing markets being very stagnant in the opening months of the year which means that most likely this year will be quite sluggish with pumps littered here and there but no real direction. John McAfee said his prediction when everything was jolly good and now it's a entirely different picture.

darkangel11

legendary

Activity: 2478

Merit: 1360

Don't let others control your BTC -> self custody

Why did you start a thread talking about 55k and then dedicated most of your post to the price of 500k? 55k is achievable, especially if you think in terms of proportions. It's less than 3 times the ATH. We had a similar situation in 2013 with the ATH of 1000, then a fall to less than half of it and a group of people saying it's going to reach 3000, while others were laughing at them. We actually went to that 3x ATH last year and remained there for some time as it was a psychological barrier.
Somehow every time the price doubles or triples it hits that psychological barrier where people think it achieved something incredible. That's why we're now talking about 50k, because it seems to be so far away. In reality it's not!

Slow death

legendary

Activity: 3164

Merit: 1127

Leading Crypto Sports Betting & Casino Platform

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

i have to know Do you believe John McAfee is right about Bitcoin hitting $500,000 in 3 years?

this is something extremely difficult, I wonder where he was with his head when he made such a prediction, imagine a coin worth $ 500,000 each, this is even a great dream impossible to achieve. we have to be optimistic, but we can not exaggerate and make absurd predictions and lead other people to error, some people can even buy bitcoin thinking it will cost $ 500,000 and then these people will be disappointed.

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

...5%.

almost as impossible. I wonder why there are still people who listen to him (about price predition )

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: tomahawk9 on March 02, 2018, 10:47:38 AM

This year? impossible, 55k is just way too much, do you remember the bull run from last year where the price reached 20k? well, we would need to see a much larger bull run and that just means problems. Just imagine the FOMO wave that such a massive increase would create around Bitcoin, all that excitement and greed will be be followed by a correction of biblical proportions and widespread pessimism/negativity will take over the market, that's something I'd rather not see.

I'd say 55k is a long-term goal, i'm talking about 3-4 years until we that price.

And what would a 20k suggestion warrant had it been proposed this time last year?

Anything can and will happen. What we've witnessed is the power of network effect and it should not be underestimated. 1 person getting involved in 2013 is now probably 20-100 people and every day that passes means more eventual onboarding.

I don't know if it'll be this year, but there will be a point where telephone numbers become real presuming BTC survives and it'll seem normal to the new arrivals. It's a straightforward consequence of more people chasing the same number of coins.

I only hope that exchanges have more of their shit together by that point because what's around now is still a long, long way from cutting it.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

I wouldn't count on McAfee's prediction since i'm seeing right now that he's just trying to hype up bitcoin and other cryptos for his own advantage. Heck, he's even doing pump and dumps right now which makes his stance on making crypto look good insignificant. $55k is quite a goal to achieve, though it's doable if we get a hype similar to the 2017 bull run given that we have a solid baseline @ $6000. More positive news would surely help boost the price up, but that isn't enough to bring in insane amount of money again

Tzupy

legendary

Activity: 2170

Merit: 1094

55k$ or more by the end of this year is possible, but followed by a brutal bear market.
500k$ in 3 years, no chance. BTC may never truly recover from the next bear market, if it loses the first mover advantage.

Rozita

full member

Activity: 658

Merit: 108

I think it depends on governments. In my opinion governments play a critical role in 2018. If they accept bitcoin the price can rise very fast in a short time. But there is no guarantee. I personally think that it is possible.

surfinonmyownwavebaby

full member

Activity: 252

Merit: 104

Decentralized Ecosystem for User-Generated Content

Yes, I believe we can surpass that this year although it may be tough. One thing we gotta consider is that when this institutional money comes in, it is going to pour in for months. If we saw Bitcoin rise from 5k to 20k, I would be hard pressed to believe we couldn't have a similar rise at the end of this year.

tomahawk9

hero member

Activity: 2086

Merit: 994

Cats on Mars

This year? impossible, 55k is just way too much, do you remember the bull run from last year where the price reached 20k? well, we would need to see a much larger bull run and that just means problems. Just imagine the FOMO wave that such a massive increase would create around Bitcoin, all that excitement and greed will be be followed by a correction of biblical proportions and widespread pessimism/negativity will take over the market, that's something I'd rather not see.

I'd say 55k is a long-term goal, i'm talking about 3-4 years until we that price.

LFC_Bitcoin

legendary

Activity: 3556

Merit: 9709

#1 VIP Crypto Casino

$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.

aardvark15

hero member

Activity: 1008

Merit: 510

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.

Paractor

full member

Activity: 274

Merit: 133

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

amirshaf

jr. member

Activity: 163

Merit: 3

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%.

Topic: DID YOU THINk BITCOIN CAN REACH 500K IN THE END OF THIS YEAR (Read 399 times)