Topic: Significant rise in price probably a year away. (Read 1034 times)
We'll see an interesting autumn.
We have to hope that people don't get spooked by the current drop in prices.
Right now adoption is very slow on the consumer side. Been stuck around 60k daily transactions for 6 months.
According to the permabulls, that doesn't matter one bit.
They expect their coins to somehow magically reach a price of $10k+, even with no further adoption among the general population.
Right now adoption is very slow on the consumer side. Been stuck around 60k daily transactions for 6 months.
on the consumer side indeed, but on the business side adoption has been huge.
This leads me to think consumers will follow, and if not, businesses will likely advertise and make the consumers follow.
Right now adoption is very slow on the consumer side. Been stuck around 60k daily transactions for 6 months.
Maybe its just me but until the next halving I feel price will be stagnant between $400-$600. 3600 new coins per day is just too many. That's almost 2 million new dollars entering the market every day just to keep the current price. Yes I know not all new mined coins are being sold but I'm sure the majority are. To many people got into bitcoin after the last bubble thinking a new one was right around the corner. I entered with a 2 year plan to accumulate and hold.
a) If 10,000 new adopters enter daily then it is only $200 per person.
b) there are 7,000,000,000 people .. so if only 10% become bitcoin adopters then 700,000,000 people / 10,000 per day = 70,000 days => 190 years
c) soon there will be only 1800 coins per day ... (900, 450)
Maybe its just me but until the next halving I feel price will be stagnant between $400-$600. 3600 new coins per day is just too many. That's almost 2 million new dollars entering the market every day just to keep the current price. Yes I know not all new mined coins are being sold but I'm sure the majority are. To many people got into bitcoin after the last bubble thinking a new one was right around the corner. I entered with a 2 year plan to accumulate and hold.
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