Topic: What Dictates Bitcoin Price Increase? - page 2. (Read 290 times)

That does make more sense than my math.  I am not sure how I cam up with over double that amount.  Nevertheless, even at those prices, that is putting a lot of the currency currently in circulation at risk of being obsolete.  I am all for it, but I do not think the world economy wants this to happen.  To many people do not trust the new currency.

Do the math. The global base money supply is something like $14 trillion. 21 million bitcoins @ $100,000 is only $2.1 trillion.

I completely understand what you're saying, however how do you see it possible for a bit going to hit its highs 50 or $100,000 per coin? There are so many coins in existence and if you take that 50 or $100,000 multiplied times the number of Bitcoins available, it would equal to more money than was available in currency in the world put together. Any thoughts on this? Or do you think that this is when they will crash and burn?

Basically I think it's the increased Demand for Bitcoins that makes the price increase. Unless it crashes untimely I think it will increase as high as $50,000 to $100,000 within 6 months time. Although there are a lot of Altcoins that is being initiated or created, Bitcoin being the pioneer only gains so much as more cryptocurrencies are created. Unfortunately we should still be wary of new offers related to cryprocurrencies as there are still person's who uses the hype to scam people. I believe after the drastic increase in price Bitcoin will drop a little and will have a stable price in the future. This is because there is really a fixed  number of Bitcoin to be circulated and I do believe that Big companies will really delve into Blockchain and Cryptocurrencies in general not only Bitcoin. The Prospects of Facebook, Google, Uber, Mcdonalds and other Big companies to use and accept cryptocurrency in the future  is really highly anticipated and some articles are even available on the internet. Imagine buying at alibaba or e-bay and amazon using your preferred cryptocurrency right?

"Bitcoin has value because we put value in it, just like your local money or the fiat. The more people believe in it, the more people accepts it, the more value it has. Only when we open our eyes and realize the things that we should put value into that we will be free. When the prospects of our dreams and aspiration is seemingly achievable thru this medium that we can't help but hope and put everything in it. No one can dictate if it is bad or good as to it being true or false. Be wise and practical." -Roy Ashton

When I joined this group bitcoin price is around $10,000. After a few weeks it steadily increased to $15,000 and now to $18,000+ and speculations of its anticipated increase to $20,000 is all over the internet. I'm really curious who dictates the price increase since Bitcoin is a decentralized currency. Is it really due to the fixed number of Bitcoin to be circulated and a high demand or is it something else. Bitcoin really is beyond logic, Too Fast, Too High and Too Good to be True. I'm in but I can't still get out this feeling of doubt screaming at me saying Get out of there its gonna crash soon. It helps to read a lot of positive articles and threads on Bitcoin. I hope you can share your Idea on this. Thanks.