Topic: Realistic Predictions for Bitcoin? - page 2. (Read 1309 times)

There seems to be a lot of insanity out there. I recently saw a youtube video claiming 98 million dollars a bitcoin as some poin in the not too distant future. That would mean btc's value would approach a quadrillion dollars! Maybe everyone is expecting the US to go Zimbabwe and your btc will be worth 98 million dollar with which you will be able to purchase a bottle of water.

First we need BTC to get to a trillion market cap, which I think is definitely doable IF it becomes more easy to buy. Less KYC, more ATMs, but with governments seeing btc as a challenge, that seems unlikely. A lot of media excitement at Bitcoin breaking a 200 billion, 500 billion etc market cap could get it to a trillion.

It will likely not become easier to buy, so we need another trigger. I think a repeat of the 2008 recession could do it. Probably btc woud initially fall, but then move up. The question is how high before investors want to cash their chips in? There's a ton of people sitting on a couple of btc. If each one becomes worth 50k and the dollar is worth just a fraction less than what it it is now, a lot are going to cash out and buy houses and cars. There will be greed, but there will also be fear and its not hard for a normal person too google bitcoin spiking to 20k and quickly crashing. Getting back to that 20k would be an initial target then 50k which is a nice round media friendly number and one that is high enough that it would tempt people to cash in.

I think bitcoin needs a few years to get up to that 20k and if it happens slowly but steadily, then we can hit 50k. If everything goes well and it starts getting easier to buy and easier to spend, I think 1/2 of gold's market cap is a reasonable goal. There are other crypto currencies out there and some people will still buy gold and it would take a long time for Central Banks to transition from gold to crypto. I don't think such a thing would ever happen in our lifetimes, but they might start adding crypto to their reserves rather than selling off gold. So 3.5 trillion I think is a good next goal which takes us to roughly 175,000 per btc.

This is assuming the government/media don't start supporting a new crypto that is backed by Gold or the full faith of the US government or god knows what people might believe in. But getting back the target of 175k, I say we need around 3 years to get it back to 20k, it will probably fall back again for some period, maybe 2 years, then mass adoption, recession etc could get it to 100k by 2030, and I'm not going to bother with an estimate for doubling that.

Could it go on a massive run and spike to 20k this year? Sure, who the heck knows. But to be sustainable it would have to be supported by something, maybe if a country or two adopted it as their national currency. Something radical and unforseen. I imagine some will naysay this, but an asset currently worth almost 100 billion increasing in value by 20 times in the next decade is actually insanely optimistic. Look at stocks that started off as penny stocks, they don't keep increasing in value exponentially year after year and although btc isn't a stock, there is a limit to how valuable it can be.

It's really hard to give predictions on bitcoin. Predictions made by experts are merely speculations, and more often than not, are quite unrealistic, should I say overly positive. They would come up with charts and thorough analysis to support their claims. But, how many of them actually get it right? It's just a simple way of creating publicity and ultimately attracting more investors to pump up the value.

The prediction may be possible but it will take time before that will be achieved because the US dollars will try as possible to retain it value against bitcoin but in the long run bitcoin will keep beating the dollars on the exchange. The 98million dollars bitcoin price will one day come to pass.

We all know that all speculations doesn't mean anything.

We can't ever been in realistic predictions cause its all about speculations for the incoming, and even we have that TA still prices are subject to change anytime and so we can't be perfectly to catch exact price. Maybe we can make it for just an hour gap but days? It could be difficult.
All are just presumptions and assuming that this could be possible to happen. Of course, everyone will think to have a high price rather that to think to be at dip.

We all know that all speculations doesn't mean anything.

But would love that BTC reaches 8-9k $ until end of the year.

When a currency is very volatile and there are numerous players in the field, it is really difficult to predict it. The whales have their own unpredictable ways and it hard to predict what will be their next moves. The market is also full of different speculations and this is also contributes to the bitcoin unpredictability. If there are positive developments for bitcoin in the second half of this year, it will likely go up further but there is no signs that it will duplicate its 2017 ATH.

We all know that all speculations doesn't mean anything.

But would love that BTC reaches 8-9k $ until end of the year.

I am expecting the bitcoin price skyrocketing very soon and the market will see a great move but this is all base on speculation and not an investment advice, but I see a great market very soon.

yeah but that can be quick when there is an increase in demand and mass adoption