Topic: James Altucher: Bitcoin At $1 Million By 2020 Is Still Possible (Read 384 times)
For bitcoin to hit $1 million, it would have to be the global reserve currency taking the place of the U.S. dollar and gold, which is unlikely any time soon. I could see that possibly happening by 2025 or 2030, but while it can happen by 2020, it is highly improbable to put it nicely.
Bitcoin At $1 Million By 2020 Is Still Possible
It is possible, but it will not happen since chance is so tiny. Most likely we will see a $1 Million Bitcoin only in fourth decade of the 21th century.
I doubt about the lrice could reach that high in just a year, even if the bitcoin does replacing paper currency ut will still difficult for bitcoin for reach that number, let just make sure bitcoin grow well and stable, if its not dropping below 6k then it's already a good improvement, if it can reach another ATH then it's already a good achievement, one million is still a very big number, it wont be possible in a short time
The price is entirely set by what exists on exchange order books. There'll be coins for sale at $1 million waiting there right now to be filled. One drunken moron could do it in one morning of hammering their buy button.
Obviously that's not sustainable but any method of getting there in that short a time is not sustainable either.
I doubt about the price could reach that high in just a year, even if the bitcoin does replacing paper currency it will still difficult for bitcoin for reach that number, let just make sure bitcoin grow well and stable, if its not dropping below 6k then it's already a good improvement, if it can reach another ATH then it's already a good achievement, one million is still a very big number, it wont be possible in a short time
It's possible, as is anything else, I'm not sure whether it's actually desirable. If it were to be that fast it would probably stick around at that price for approximately 10-20 minutes and then plunge into beariness that lasted way longer than anything we've seen so far.
The more violent the rise, the more grinding and dispiriting the fall. I for one would attempt to be long gone if it happened but the blockchain and every exchange would be so utterly seized you'd be very lucky to fully capitalise on it.
The more violent the rise, the more grinding and dispiriting the fall. I for one would attempt to be long gone if it happened but the blockchain and every exchange would be so utterly seized you'd be very lucky to fully capitalise on it.
Its not desirable. The bear market would be severe after this spike, and would collide against the halving 4-year cycle, coming earlier at 2020 (instead of 2021). Since I discarded the cycle model, I believe it can happen, but its not desirable.
And as you pointed out, you would not be able to cash it out. The exchanges would not have enough fiat money for it. Only some whales with inside information would be able to cash out, provoking panic and bringing a new crypto winter. Exchanges would surely crash, some could be seized by governmental agencies. The whales cashing out could have some problems with authorities too, due to taxes and stuff like "origin of funds".
Not only that, the hype would bring the nocoiner brainlets to crypto, and they would be very angry at bitcoin after it plunges 90%. Even if the price recovered, with the potential to reach 1 million and stabilize right there, the well-know envy of the nocoiner would be higher, and holders could be hunted in some places. Even the security guards the holder hired could hit him with a $5 wrench to get his private keys. A dangerous situation.
Nothing is impossible but this is very unlikely. The world economy is not a complete mess yet but it is heading that way with all that quantitative easing taking place and no way of paying back all of those loans
It's possible, as is anything else, I'm not sure whether it's actually desirable. If it were to be that fast it would probably stick around at that price for approximately 10-20 minutes and then plunge into beariness that lasted way longer than anything we've seen so far.
The more violent the rise, the more grinding and dispiriting the fall. I for one would attempt to be long gone if it happened but the blockchain and every exchange would be so utterly seized you'd be very lucky to fully capitalise on it.
The more violent the rise, the more grinding and dispiriting the fall. I for one would attempt to be long gone if it happened but the blockchain and every exchange would be so utterly seized you'd be very lucky to fully capitalise on it.
His call was earlier than John McAfee's but it's with an if.
Haha, he changed his mind.
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^^Haha, he changed his mind.
I am aware that there some people who think that James Altucher has no reputation to start with and that we should not listen to whatever he is saying no matter how positive it can be for bitcoin. But then again, maybe we should give him some space to make his point. In one of his latest interviews, he talked about enlightening things worth of our time, I guess.
"Best-selling author and former hedge fund manager James Altucher is not backing down from his $1-million-dollar bitcoin call that he boldly made back in 2017. His timelines may be a little different however. Altucher made the call two years ago when bitcoin was trading around $11,000, he called for the crypto to hit $1 million by 2020."
https://www.youtube.com/watch?v=I4xbUCcZqP0
the guy said this:
the guy said "if". this is a condition
Let's be honest here, we all know that bitcoin won't reach that price...
the guy said "if". this is a condition
Let's be honest here, we all know that bitcoin won't reach that price aren't we. And I don't really care whoever predicts that we are going to reach that milestone in short amount of time. Most of the time those who are predicting this mega-price is nothing but a fool who just throw random numbers in the air and hope that it will be a hit in the future.
It is possible but it will not going to happen thinking that the bitcoin market price could barely move to 8K-10K as of this moment so 1million USD per bitcoin will.not going to happen. Anyway, if bull run will going to happen in 2019 theb there is a high possibility that it will reach to 30K usd and that smis the ideal bull run market price for bitcoin.
Yet, there are only few that will going to buy bitcoin that price because it is very expensive so probably bitcoin will just reach 19-22K usd per btc.
Yet, there are only few that will going to buy bitcoin that price because it is very expensive so probably bitcoin will just reach 19-22K usd per btc.
There is no shortage of con artists being given exposure they don't deserve. I don't get the point of these predictions being brought up again. They have been present for over a year now.
McAfee predicted that the price would hit $78k before the end of 2018. When he was asked about this specific prediction in an interview, he said it wasn't him having made the prediction. What an utter con.
McAfee predicted that the price would hit $78k before the end of 2018. When he was asked about this specific prediction in an interview, he said it wasn't him having made the prediction. What an utter con.
-snip-
Great find. From hater to wannabe Bitcoin supporter, what a shift.
ah well, he may be right ir not and only the future can tell us that. Actually, what I personally believe is that Bitcoin will surely pump very hard next year but i haven't speculated up to that price yet. Maybe a $100K. 2020 is gonna be an awesome year but let's not forget that we need to stay very very careful since the hype for 2020 is very high.
^
LoL
LoL
But then again, maybe we should give him some space to make his point
Sure, but it's one thing to try to be bullish about Bitcoin and say that it'll reach X price based on analysis of market trends and whatnot (like Tom Lee), but it's a different thing to say that the price will reach 1M in a year and a half, that's just straight up nonsense and anyone saying such thing in the media should be ignored (like McAfee).We haven't even touched the 6-figures, how the hell can we expect to hit 7-figures next year? James Altucher is clearly trying to draw attention for god knows what reason (maybe he's going to publish a book and he wants the spotlight while promoting it? I don't know...)
I do not think that in 2020 BTC will cost 1 million. I believe in high prices, but not 1 million and certainly not in 2020
James is perhaps a member of this forum or an onlooker.
I'd like to get some more of his ebooks but everything he sends out is click-bait and labeled as something you must click on and it is super urgent to click on it or you will miss out if you do not click on this so click on this!
Haha. Buy this used car! Nice try James.
I'd like to get some more of his ebooks but everything he sends out is click-bait and labeled as something you must click on and it is super urgent to click on it or you will miss out if you do not click on this so click on this!
Haha. Buy this used car! Nice try James.
He is still talking about USD.
How come you talk about a large price of another commodity or currency then weighing it with USD as always.
That will be 21,000,000,000,000. 21 trillion? Errr. I dont think so. The world will not let that happen.
How about he try to weigh it in a different scale.
If that happens then maybe I will believe him. That is short span to HODL until 2020. Remember that the bitcoin price almost didnt move for like October 2018 to May 2019. We almost thought it will the stable times and will stay at that calm moment until now happened.
How come you talk about a large price of another commodity or currency then weighing it with USD as always.
That will be 21,000,000,000,000. 21 trillion? Errr. I dont think so. The world will not let that happen.
How about he try to weigh it in a different scale.
If that happens then maybe I will believe him. That is short span to HODL until 2020. Remember that the bitcoin price almost didnt move for like October 2018 to May 2019. We almost thought it will the stable times and will stay at that calm moment until now happened.
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