The ideal price of bitcoin is $557,714.00

blckhawk

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Quote from: Ever-young on July 10, 2023, 12:24:49 PM

I don't know about others, but personal I don't consider Bitcoin to be the next generational Gold. Bitcoin has its own uniqueness and things that could possibly make it better than gold which it is already judging by your price calculation, which I really don't understand how come about them. The price of Bitcoin today's has no relationship with Gold I also don't think it should be compared. As Bitcoin is far more valued than Gold which is as a result of increase in demand.

Below is the chart of Dow compared to Gold for 100 years. So yeah, I would agree with you that it's not our generations gold because Bitcoin's better performing than these two albeit they both have a more rich history. Regarding preference for gold or bitcoin, I think it's a matter of perspective, you are in a bitcoin forum so you're most likely to favor bitcoin over gold but if you're an arms dealer that's selling missiles to paramilitaries across the warring states in Africa, you'll prefer gold or precious gemstones.

STT

legendary

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The price is not there for the achievement of gaining alot, its like alot of business the price must serve to maximize volume of trades done. If most of the people are only motivated to trade at 20k then we should be moving towards that price, it might be supply doesnt allow that but I think its the user who determine price in the end not the speculators or anyone who will not hold the BTC overnight and in general usage.
Ironically the tiny amounts of BTC left in wallets by the many people not the few focused on prices to speculate then sell, its always the holders and users who decide the destination for price. When we say 500k or 100k, its a long journey to that price if it ever can happen. I dont think we are getting to these high prices without alot of development by the whole cross section of BTC userbase, us as speculators we are just looking onto a much wider market not all in immediate open sight and we're guessing demand vs supply etc.

stomachgrowls

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Quote from: Davian144 on August 31, 2023, 09:49:11 AM

Quote from: siniminomorocomunisakito on August 31, 2023, 09:20:04 AM

BTC's journey will now start in early September, but I think the movement will not be fast, but slow but sure. Demand and supply are the main keys besides policy issues regarding the world of digital currencies. This was proven in the past few days and now the Bitcoin Spot ETF has a 75% chance of being approved. Well, the most important thing is that even if you say BTC will be $ 500k, it doesn't matter. I think the most important thing is that we have optimism and will always be there for BTC.

The increase that still seems slow in Bitcoin certainly has a reason, but as long as there is still a number of requests and a number of offers that continue to occur in the market for Bitcoin, an increase in price is something that is very certain to happen even though sometimes it is driven by several causes and events that can trigger it. many people to buy Bitcoin without looking at the price benchmark specifically for times like now. And what's more important is that there are still more people who remain optimistic about Bitcoin, making the number of people who still want to hold Bitcoin relatively large.

We are still a decade+ old but looking at on the % of recognition or adoption then it isnt really just on full scale but rather it is really just that a peanut size on which it is really not something that too far off to assume out

that whenever we do hit those high numbers then value would really be getting in line with but it would really be just that better or ideal that you shouldnt really be making yourself that optimistic and getting in rush with those numbers on which it would really be just creating that kind of boredom on the time that it wont really be able to hit up such number or value. We know that adoption and recognition is still on the move but it wont really be on such manner that it would really be on fast pace. Also it would be something realistic if we are really just that sticking into numbers which wont really be going beyond $100k specially on this
upcoming bull run on where it would really be that a good thing so that we wont really be that getting disappointed on the time that the price didnt really hit up that level.

Way too much expectation would really be bringing out that kind of a disappointment on the time that it wont really be showing out on a particular time.

Davian144

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Quote from: siniminomorocomunisakito on August 31, 2023, 09:20:04 AM

BTC's journey will now start in early September, but I think the movement will not be fast, but slow but sure. Demand and supply are the main keys besides policy issues regarding the world of digital currencies. This was proven in the past few days and now the Bitcoin Spot ETF has a 75% chance of being approved. Well, the most important thing is that even if you say BTC will be $ 500k, it doesn't matter. I think the most important thing is that we have optimism and will always be there for BTC.

The increase that still seems slow in Bitcoin certainly has a reason, but as long as there is still a number of requests and a number of offers that continue to occur in the market for Bitcoin, an increase in price is something that is very certain to happen even though sometimes it is driven by several causes and events that can trigger it. many people to buy Bitcoin without looking at the price benchmark specifically for times like now. And what's more important is that there are still more people who remain optimistic about Bitcoin, making the number of people who still want to hold Bitcoin relatively large.

siniminomorocomunisakito

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Quote from: Mario Yamasaki on July 22, 2023, 01:58:46 AM

What bitcoin has achieved at this time which is around $ 29k certainly never thought of bitcoin makers, even when 2014 the price dropped below $ 100 and in 2013 passed $ 1100 making a lot of speculation that bitcoin will end soon, seeing the current facts then I have no doubt that the price of $ 500k will happen soon.

BTC's journey will now start in early September, but I think the movement will not be fast, but slow but sure. Demand and supply are the main keys besides policy issues regarding the world of digital currencies. This was proven in the past few days and now the Bitcoin Spot ETF has a 75% chance of being approved. Well, the most important thing is that even if you say BTC will be $ 500k, it doesn't matter. I think the most important thing is that we have optimism and will always be there for BTC.

Unbunplease

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500,000 is too high a price. I think we will have to wait many years for bitcoin to reach that price. Question - will bitcoin be needed at that price? How long will we have to wait for 2x? In my opinion, it is more likely that a new bitcoin will be introduced before bitcoin reaches even 200k.

fuguebtc

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Quote from: gunhell16 on July 22, 2023, 03:04:15 AM

Quote from: Ever-young on July 10, 2023, 12:24:49 PM

I don't know about others, but personal I don't consider Bitcoin to be the next generational Gold. Bitcoin has its own uniqueness and things that could possibly make it better than gold which it is already judging by your price calculation, which I really don't understand how come about them. The price of Bitcoin today's has no relationship with Gold I also don't think it should be compared. As Bitcoin is far more valued than Gold which is as a result of increase in demand.

But if you look at it, in the era we have today Bitcoin can be called Digital Gold, why? because you can mine him to have Bitcoin by buying mining rigs that don't need to dig the ground first, and destroy nature just to have gold. Mining rigs are quite expensive.

Although literally speaking they are not really the same at the same place but they are both okay for long-term investment in truth, especially if that amount of price happensto Bitcoin in the near future.

“Bitcoin is digital gold”, in fact only some people use the term, and bitcoin is bitcoin and not anything else. As we all know, gold is considered the rarest and most valuable asset, so it is not surprising that many people compare bitcoin to gold to honor the value of bitcoin. But there is a mistake that many people start to abuse it, they seek to slander gold, disparage gold and exaggerate bitcoin.

To be frank, these two asset classes are completely different, and not entirely appropriate to compare them. One physical asset, one virtual asset and both have different use cases. Comparison results should only be considered for fun, not based on it and affirming which is better.

gunhell16

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Quote from: Ever-young on July 10, 2023, 12:24:49 PM

I don't know about others, but personal I don't consider Bitcoin to be the next generational Gold. Bitcoin has its own uniqueness and things that could possibly make it better than gold which it is already judging by your price calculation, which I really don't understand how come about them. The price of Bitcoin today's has no relationship with Gold I also don't think it should be compared. As Bitcoin is far more valued than Gold which is as a result of increase in demand.

But if you look at it, in the era we have today Bitcoin can be called Digital Gold, why? because you can mine him to have Bitcoin by buying mining rigs that don't need to dig the ground first, and destroy nature just to have gold. Mining rigs are quite expensive.

Although literally speaking they are not really the same at the same place but they are both okay for long-term investment in truth, especially if that amount of price happensto Bitcoin in the near future.

Mario Yamasaki

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What bitcoin has achieved at this time which is around $ 29k certainly never thought of bitcoin makers, even when 2014 the price dropped below $ 100 and in 2013 passed $ 1100 making a lot of speculation that bitcoin will end soon, seeing the current facts then I have no doubt that the price of $ 500k will happen soon.

STT

legendary

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Gold isnt even too expensive, it could rise all the way to 10,000 dollars and people dont even believe that much but unfortunately its true due to the long term weakness in the dollar debt situation. What seems to be impossible to estimate is how things would change, we say the dollar value would fall but how much and how does this then effect the economy. Exporters like a weak dollar but its terrible for consumer import trade and retailers generally would suffer. There are too many secondary interwoven effects to know exactly what would happen.

Oilacris

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Quote from: beerlover on July 21, 2023, 09:31:15 AM

Quote from: uswa56 on July 20, 2023, 08:05:07 AM

Almost all of us have different speculations and beliefs for the future price of Bitcoin, the price of 100k is quite reasonable and I believe we will be able to see it in the not too distant future, maybe ATH in the next bull.
And in my opinion there is no ideal price of Bitcoin, the price of Bitcoin will continue to move and that's why many people are interested in Bitcoin, because of the price movement, whenever the price of Bitcoin will reach its highest price and there will be a deep correction and it will be so as long as Bitcoin is interest many people.

Many people could have speculations that are different from each other but a lot of people believe that 100k will be hit. That's the important part and we should be focusing on that a lot. Maybe we do not agree when that will happen but we agree that it will happen. This is why it's important to focus on what and not how.

If we stick too much to the "when will it actually happen" topic and not really make our investments right away, then maybe one day we will be too late to make that investment and will regret that. This is why it's better to invest when you have the time and the price is still nowhere near that level. Then we can start worrying about trying to catch up with gold as well, that will happen too, just don't know when.

100k is realistic compared into those people who do really have thinking that reaching up those digits like on what OP had been assuming on.Let alone on having that 100k would really be that hard on

breaking it out.How much more on 500k? Its true that we might not really be still on bull run phase and not into that full scale recognition and adoption but we do know that those numbers arent really that easy to reach on and this is why its better to be realistic rather than on expecting on something which it isnt really that easily could happen but well everyone could really be able to take up
some risks and we do have our own choice on how we would really be able to take and act.

Lets stick on something realistic so that on the time comes that the price isnt able to reach out then you wont really that get disappointed since you are already anticipating
those probabilities.

beerlover

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Quote from: uswa56 on July 20, 2023, 08:05:07 AM

Almost all of us have different speculations and beliefs for the future price of Bitcoin, the price of 100k is quite reasonable and I believe we will be able to see it in the not too distant future, maybe ATH in the next bull.
And in my opinion there is no ideal price of Bitcoin, the price of Bitcoin will continue to move and that's why many people are interested in Bitcoin, because of the price movement, whenever the price of Bitcoin will reach its highest price and there will be a deep correction and it will be so as long as Bitcoin is interest many people.

Many people could have speculations that are different from each other but a lot of people believe that 100k will be hit. That's the important part and we should be focusing on that a lot. Maybe we do not agree when that will happen but we agree that it will happen. This is why it's important to focus on what and not how.

If we stick too much to the "when will it actually happen" topic and not really make our investments right away, then maybe one day we will be too late to make that investment and will regret that. This is why it's better to invest when you have the time and the price is still nowhere near that level. Then we can start worrying about trying to catch up with gold as well, that will happen too, just don't know when.

uswa56

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Quote from: mich on July 20, 2023, 03:54:18 AM

Well I can only imagine a time in the world where price of Bitcoin is $557,714.00 per coin. I am just hoping we see a price of the all time high of 69k per coin. And then I can think about such bigger numbers like this one.

But for me the ideal price of Bitcoin is 100k. I think it is because this is a number amount we talk about very much, it has been discussed as a realistic number for Bitcoin for long time now.

There is many people that thought it is what the price would be by now. I am sure we will see this price, we just do not know when we will.

Almost all of us have different speculations and beliefs for the future price of Bitcoin, the price of 100k is quite reasonable and I believe we will be able to see it in the not too distant future, maybe ATH in the next bull.
And in my opinion there is no ideal price of Bitcoin, the price of Bitcoin will continue to move and that's why many people are interested in Bitcoin, because of the price movement, whenever the price of Bitcoin will reach its highest price and there will be a deep correction and it will be so as long as Bitcoin is interest many people.

mich

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Well I can only imagine a time in the world where price of Bitcoin is $557,714.00 per coin. I am just hoping we see a price of the all time high of 69k per coin. And then I can think about such bigger numbers like this one.

But for me the ideal price of Bitcoin is 100k. I think it is because this is a number amount we talk about very much, it has been discussed as a realistic number for Bitcoin for long time now.

There is many people that thought it is what the price would be by now. I am sure we will see this price, we just do not know when we will.

Captain Corporate

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This gold comparison lacks the historical period though. I mean you could end up believing that you are going to make some money off it, but you may not end up making that money at all, which is why I believe that gold has come thousands of years to be what it is today. I am not saying bitcoin would need thousands to be as big, but it needs at least some more time. Which we already knew, nobody thinks that its going to be 500k+ in a day, but it still should be stated. If you are willing to wait decades for it to reach that level, not just 557k but like whatever gold is at that point, then yes you could see that happening, but do not expect it to happen anytime soon.

JoyMarsha

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Did you make all these calculations between the prices of gold and bitcoin in order to determine that $557,714 per bitcoin is the ideal price for bitcoin? I'm not good at arithmetic, thus I won't be interested in the solution you provided because all of your computations between the prices of gold and bitcoin won't determine the ideal price of bitcoin. Because bitcoin and gold are two distinct entities, changes in supply or demand for one does not impact the price of the other. That is what you overlook.

Since that, the Bitcoin price has to cross $100k before it gets to $557,714k. So $557,714k is not the ideal price of bitcoin for now

palle11

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Quote from: DeathAngel on July 15, 2023, 02:29:33 PM

I can definitely deal with seeing 1BTC @ $557,000 Grin

It probably won’t happen in the upcoming bull market but this decade, it’s a definite possibility with the flow of institutional money following likely spot ETF approvals. It will happen, it’s just a question of when, hopefully sooner rather than later.

When will take sometime before it happens, this decade? Well that will depend on the ATH after 2024 halving. The possibility is there but I'm not going to be banking on that anytime soon. Although acquiring some coins is the right way to go in expectation of the bull. It is a right thought, bitcoin dominance of course is undoubtedly overwhelming in the crypto market and institutional interest is increasing steadily.

Alpha Marine

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There is no "ideal" price for Bitcoin.
The ideal price of anything is determined by the laws of economics.
Bitcoin price did not just decide to be 30k dollars today because that is where it wants to be or loves to be. It's at $30k because that is what the market has valued it to be.
Certain factors determine the price of a commodity or asset and those factors can be categorized into the demand and supply laws.
If a large number of people begin to sell their Bitcoin today, the price will dip, it's simple economics.

Btw, when you say ideal price, do you mean the price it should be now or the maximum price it will be future?
If you mean now, then that's not true because the market doesn't value it up to that and if you say future, we just have to wait and see if the market and factors affecting it agree with you, or it could even be higher.
Price of something as decentralized as Bitcoin is determined by market forces.

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Quote from: Pejoh Asu on July 13, 2023, 10:14:16 PM

I think as long as the bitcoin community continues to survive and grow it will be more expensive, many analysts say that if bitcoin can last another 10 years then the price will reach $ 1 million, this is of course reasonable because bitcoin is increasingly popular and the volume of daily transactions continues to increase so that its value will to more expensive.

The cryptocurrency world will see a big change of bitcoin in the next 10 years as the demand for Bitcoin grows. I think the expected bullish movement in Bitcoin is only a matter of time for those who watched the last bull market. Moreover, from various analysts, investors, many have made predictions to see Bitcoin in the future. Some say Bitcoin is 100K, some say 200K, but many have pronounced 1Million. Bitcoin price exceeded expectations according to the Bitcoin prediction we have seen in the past. Now Bitcoin has gained more popularity, so we can assume that Bitcoin will be more bullish in future.

siniminomorocomunisakito

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Quote from: OgNasty on July 13, 2023, 08:35:40 AM

Sounds good to me… I’ve considered $200K as the target price for Bitcoin for quite some time now and I’d have a hard time buying above that price. I do think my best case scenario has the price of BTC around $800K though, so it’s interesting that this number falls right in the middle. It’s nice to think about, especially if it were to happen this cycle.

Yes, what you're saying makes sense. If the price of BTC goes to 800k first before the bullrun season starts. and what OP said The ideal bitcoin price is $ 557,714.00 maybe this takes the right process and time and maybe a little longer to get to that point.

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