I'm planning to accumulate as many bitcoins as I can. And hold my bitcoins for 5 years. I believe within 5 years time, bitcoin price will increase up to 100 times.
are you kidding me? 5 years will not change the price of bitcoin 100-fold lol
you can see the price five years ago, namely in 2011 for the 5-year price increase but not 100 times dude
You could be correct that 100x is too much for 5 years, but such price speculation is not impossible.
You also seem to have gotten your facts a little bit incorrect regarding whether this has happened previously in bitcoin.
In much of 2009 and early 2010, bitcoin was virtually free, but starting in mid 2010, it was traded for around $.05
January 2011 - $.30
June 2011 - $30
January 2012 - $5
January 2013 - $14
November 2013 - $1,200
Also, if you look at a more meaningful measure, market cap, it is possible to go 1,000x in 5 years, and that would put bitcoin at about the same market cap as Gold.... I'm not saying that it is likely, but it is within the realms of possibilities, and should be considered if you are buying into bitcoin and considering at what stages to sell, if at all.
Actually, if you look back at 2011, it depends from which part of the year you measure. If you start from January 2011, then you have a 100x increase in 6 months, but then at today's price you have a 1500x increase, but if you start from the $30 price point, where BTC prices had already gone 100x in that same year (half year), then you only have 15x increase from $30 towards BTC's price today.