Simply put, the lowest buy and sell orders placed in at $25,000.
Getting there will be difficult though. I think adoption needs to increase. Whether that means people use it day to day or see it as a long term investment, if demand rises astronomically you can rest assured that the price will too!
Topic: What will send bitcoin to the $25,000+++ mark...... (Read 382 times)
Only if BTC is seen as a stable investment / solid hedge akin to gold by then.
I think that's a minimum of a couple of decades away. Bitcoin's rise has coincided with a truly bonkers bull run all the way through coupled with pathetic returns for savers.
Let's see how it handles a wider malaise and higher rates before declaring anything more than a speculative curio.
Can you imagine what will happen to bitcoin during the next financial crisis? $25K will be breached quicker than you and I could believe.
Only if BTC is seen as a stable investment / solid hedge akin to gold by then.
It looks like we're pretty close to that stage already, but it will mostly depend on how BTC will handle the inevitable correction at the end of the current bull market. If BTC remains strong, the next crisis will surely see a lot of capital inflow. If BTC switches back to crazy mode, people will most likely avoid BTC as well, as trust will be missing and people tend to be more risk averse during recessions.
only time
bitcoin needs more real adoption, and for that we need more people to learn about bitcoin and want to use it as a currency. that means essentially a lot of people who ask all the Amazons and Ebays and ... to add bitcoin payment option on their own and forcing them to either do it or be put out of business by a competing counterpart such as OpenBazzar.
and as the adoption grows the price rises with it.
bitcoin needs more real adoption, and for that we need more people to learn about bitcoin and want to use it as a currency. that means essentially a lot of people who ask all the Amazons and Ebays and ... to add bitcoin payment option on their own and forcing them to either do it or be put out of business by a competing counterpart such as OpenBazzar.
and as the adoption grows the price rises with it.
you were mentioning credit cards. With TenX (Pay) we should have a solution here. They plan to even accept and transmit also some alt coins. They just had recently their ICO!
Merchant acceptance peaked in 2014 and look what happened. It flew down the toilet.
As ever merchant acceptance is great for merchant and appalling for consumers. Unless you already have BTC what would be the point in buying something to buy something? On top of that you'll probably pay a premium and risk losing out either with the exchange rate or poor security.
For retail a debit or credit card is ahead in security and convenience. Merchants would have to offer huge discounts and they don't have the margins. At present there is no incentive and many active barriers.
What will push that price to that level is more people with less belief in traditional finance. That's it.
As ever merchant acceptance is great for merchant and appalling for consumers. Unless you already have BTC what would be the point in buying something to buy something? On top of that you'll probably pay a premium and risk losing out either with the exchange rate or poor security.
For retail a debit or credit card is ahead in security and convenience. Merchants would have to offer huge discounts and they don't have the margins. At present there is no incentive and many active barriers.
What will push that price to that level is more people with less belief in traditional finance. That's it.
Next scenario...
Can you imagine if McDonalds in China begins accepting bitcoin as a form of payment, that might be more feasible. Will potentially grab major attention in the US, eventually leading to adoption worldwide... spreading like wildfire as a payment system for other major franchises.
I have seen somewhere that McDonalds is feeding 1% of world population per day which is quite huge and if any of it's franchise will start to accept bitcoin as payment method than that can have really good effect on adoption of bitcoin as well as its price. Can you imagine if McDonalds in China begins accepting bitcoin as a form of payment, that might be more feasible. Will potentially grab major attention in the US, eventually leading to adoption worldwide... spreading like wildfire as a payment system for other major franchises.
We might see a big bitcoin accepted banner on every McDonalds outlets within next few years.
Being accepted as a form of payment to a source such as amazon or ebay. Can you imagine if ebay auctions were priced in USD as well as BTC. There might have to be a system in place where bitcoin payment is put on hold until the buyer receives item however. This method will most likely still be done through paypal.
Next scenario...
Can you imagine if McDonalds in China begins accepting bitcoin as a form of payment, that might be more feasible. Will potentially grab major attention in the US, eventually leading to adoption worldwide... spreading like wildfire as a payment system for other major franchises.
Next scenario...
Can you imagine if McDonalds in China begins accepting bitcoin as a form of payment, that might be more feasible. Will potentially grab major attention in the US, eventually leading to adoption worldwide... spreading like wildfire as a payment system for other major franchises.
Can you imagine what will happen to bitcoin during the next financial crisis? $25K will be breached quicker than you and I could believe.
Can't argue with that brother
Being accepted as a form of payment to a source such as amazon or ebay. Can you imagine if ebay auctions were priced in USD as well as BTC. There might have to be a system in place where bitcoin payment is put on hold until the buyer receives item however. This method will most likely still be done through paypal.
Next scenario...
Can you imagine if McDonalds in China begins accepting bitcoin as a form of payment, that might be more feasible. Will potentially grab major attention in the US, eventually leading to adoption worldwide... spreading like wildfire as a payment system for other major franchises.
Next scenario...
Can you imagine if McDonalds in China begins accepting bitcoin as a form of payment, that might be more feasible. Will potentially grab major attention in the US, eventually leading to adoption worldwide... spreading like wildfire as a payment system for other major franchises.
Can you imagine what will happen to bitcoin during the next financial crisis? $25K will be breached quicker than you and I could believe.
Being accepted as a form of payment to a source such as amazon or ebay. Can you imagine if ebay auctions were priced in USD as well as BTC. There might have to be a system in place where bitcoin payment is put on hold until the buyer receives item however. This method will most likely still be done through paypal.
Next scenario...
Can you imagine if McDonalds in China begins accepting bitcoin as a form of payment, that might be more feasible. Will potentially grab major attention in the US, eventually leading to adoption worldwide... spreading like wildfire as a payment system for other major franchises.
Next scenario...
Can you imagine if McDonalds in China begins accepting bitcoin as a form of payment, that might be more feasible. Will potentially grab major attention in the US, eventually leading to adoption worldwide... spreading like wildfire as a payment system for other major franchises.
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