Satis Group-Bitcoin might reach 96K by 2023 - page 2.

Lucius

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Quote from: davis196 on September 08, 2018, 12:55:26 AM

According to Satis Group(google it,if you don't know anything about them) Bitcoin price will reach 96K USD by the end of 2023 and 144K USD by the end of the next decade(around 2030).The second most valuable coin will be Monero with a 18K USD price.Coins like ethereum and litecoin are doomed to fail in the long run,according to the market analysts.
Well,I don't trust such predictions,but this is the speculation sub-forum and we always discuss those type of "market analysis" here.Any thoughts about this?

I am not impressed by Satis Group at all, they site looks very simple and they are in business with ICO advisory - but I can understand their speculation regarding BTC price and future of some other coins, everyone wants a little cheap promotion and this is a good way to do that.

Since you did not post any link to this news I was interested on what they base their speculations and I found this :

Quote

“Despite a lack of appeal during retail frenzies, we continue to believe that BTC and its network effect will dominate end-market share within Currencies and the overall cryptoasset market, driven by: 1) increasing liquidity and purchasing avenues, 2) increasing brand recognition, 3) its position as the default base-pair within the crypto markets, 4) declining relative volatility, 5) relative lack of attack vectors, 6) network capacity alleviation through the maturity of layer-2 solutions, and 7) an increasingly high attack and overthrow cost.”

I am not sure what to say about 96k$ by 2023, it is 5 years from now - even it is possible that price rise more than that, it is also possible to be lower than that. But their prediction for 2030 is pretty low, only 50k$ rise in 7 years does not look good at all.

It is hard to predict price of BTC, but it is even harder to predict price of other coins in long term, and they pick Monero as top altcoin just because of his anonymity. In my opinion such coins are not have good future, regulations will make their adoption very difficult or almost impossible.

More info : Satis Group Price Analysis: Bitcoin and Monero Biggest Gainers Over 10 Years

helloeverybody

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Realistically i think we will be lucky to be breaking 20k by 2023, This current bear market we're in isnt going to end any time soon. The last bear market too years to correct and theres no reason why this one wont take just as long. As for Ethereum i dont see that dying anytime soon either, its price will recover in time with bitcoins. For the record i dont hold any ethereum but im still confident it will rise.

diouf67

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It's definitely not unthinkable that we can reach such heights but any prediction that claims to have any level of accuracy is simply a lie and nothing more than speculation. Even if they are found to be right it's not because they're model was perfect it's just because they got lucky. But 5x the previous ATH in 5 years time would be more than doable for bitcoin if looking at its past growth.

figmentofmyass

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Quote from: butka on September 08, 2018, 03:37:21 AM

Talking about shorter time frames, here is a relatively short-term prediction for the price of bitcoin by 2020 done by Prof. Panos Mourdoukoutas from the Department of Economics at LIU Post, NY.

There are two scenarios based on two models.

Bullish scenario: a model (Haye’s model) which takes into account the supply aspect of bitcoin, predicts a price of $55,931 by 2020.

Bearish scenario: a model (Wheatley model) which takes into account the bitcoin use (the demand aspect of bitcoin), predicts a price of $2,352 by 2020.

How good these predictions are? Probably not that accurate. With Bitcoin, we have seen that theoretical models can rarely predict the actual situation. What is certain is that the supply side will kick in, and we obviously need the use of bitcoin to follow the supply as well.

it's certainly interesting to see these models employed, but i'm skeptical as hell. i don't believe we have nearly enough data on circulating supply (lost coins, dormant coins) to speak about supply with any real level of confidence. very little BTC is actually on exchanges, producing the spot price.

i also think demand is impossible to quantify, let alone predict. we'll just have to let time do its thing, and enjoy the ride!

talkbitcoin

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All I know is that I know nothing.

considering how bitcoin has been rising so far this prediction is very unlikely to be on the mark. the price should already be a lot higher than $96k after 5 years. and that price should be reached a lot sooner.

consider the last rally that we had. it started back in 2015 and ended in 2018 and price went up 13200% in 3 years. even if this rate is reduced and we see a slow version of it in the following 3 years (like 10000%) price should be $650k by the end of 2021.
also considering there is a halving in 2020 i'd say above $500k is easily achievable.

butka

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Talking about shorter time frames, here is a relatively short-term prediction for the price of bitcoin by 2020 done by Prof. Panos Mourdoukoutas from the Department of Economics at LIU Post, NY.

There are two scenarios based on two models.

Bullish scenario: a model (Haye’s model) which takes into account the supply aspect of bitcoin, predicts a price of $55,931 by 2020.

Bearish scenario: a model (Wheatley model) which takes into account the bitcoin use (the demand aspect of bitcoin), predicts a price of $2,352 by 2020.

How good these predictions are? Probably not that accurate. With Bitcoin, we have seen that theoretical models can rarely predict the actual situation. What is certain is that the supply side will kick in, and we obviously need the use of bitcoin to follow the supply as well.

LFC_Bitcoin

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$96,000 by 2023? I’m thinking we’ll reach that figure by mid 2021. I’ll be slightly disappointed if I have to wait until 2023 to see $96,000 but I will wait & continue to HODL.

figmentofmyass

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Quote from: davis196 on September 08, 2018, 12:55:26 AM

According to Satis Group(google it,if you don't know anything about them) Bitcoin price will reach 96K USD by the end of 2023 and 144K USD by the end of the next decade(around 2030).

seems too slow, considering how human psychology works. i'm convinced at this point that bitcoin's future is fairly binary---mass adoption or bust. if you consider how much of the supply is already mined and/or lost, i think we'll have a gold rush on our hands. $96k isn't even 5x above the previous ATH. i expect much higher, and probably much sooner than 2023.

the top is always higher than you think. and the bottom is always lower. markets love to stay irrational! Wink

Pursuer

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we always say bitcoin is easier to predict in the long term rather than short term but 2023 is too far away, lol. besides predicting a price rise after 2020 is easy with your eyes closed since we have one halving in 2020 and another in 2024 so $96K prior to the 4th block reward halving is too tiny in my opinion... we may see it by the 3rd halving already!

as for altcoins, ETH is doomed for sure but I don't think LTC is doomed. it is not a good coin, that's for sure since it is a copy coin but this coin has been sticking around and had kept its price up for nearly as long as bitcoin since it is one of the oldest coins. but it is possible that all these pointless altcoins be replaced by better coins capable of actually competing with bitcoin instead of pumping and pretending they are competing.

mike4001_

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If it´s a gradual move to 96k in 5 years it is fine by me :-)

Just stop this pumps of hope to above 7k just so smash it a couple of days later.

davis196

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According to Satis Group(google it,if you don't know anything about them) Bitcoin price will reach 96K USD by the end of 2023 and 144K USD by the end of the next decade(around 2030).The second most valuable coin will be Monero with a 18K USD price.Coins like ethereum and litecoin are doomed to fail in the long run,according to the market analysts.
Well,I don't trust such predictions,but this is the speculation sub-forum and we always discuss those type of "market analysis" here.Any thoughts about this?

Topic: Satis Group-Bitcoin might reach 96K by 2023 - page 2. (Read 426 times)