When bitcoin will hit $1 million ! - page 5.

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Quote from: omonuyak on August 30, 2019, 01:00:15 AM

We might not need years but investments and adoption. Why did you think that time is what matter in bitcoin rising pricing? I don’t think time matters but we just need institutional investors adoption. More people having interest on bitcoin is what really matters and not more years.

Exactly, it's just that we need time for that, friend. sometimes, to teach someone about this development takes years, especially if you invite so many people.

it can indeed make bitcoin prices go up, little by little. it's just that we do need understanding, acceptance from common people from bitcoin so that investors will come by themselves and make the price of bitcoin rise. but I'm not really sure for now the price of bitcoin is $ 1 million.

omonuyak

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Quote from: Wilhelm on August 23, 2019, 04:04:56 PM

Quote from: Oceat on August 23, 2019, 03:58:13 PM

Are you the follower of John McAfee that making a prediction about of Bitcoin to hit 1M?
I didn't watch the video since i don't know it yet but i am more interested about of how did you manage to get the value of 1M in the future?
Bitcoin will reach that price may be within 5 to 10 years from now.

The video just shows that you can rationally think BTC could be $1M in 2025.
This is not absurd but I personally believe we need a few more years.

We might not need years but investments and adoption. Why did you think that time is what matter in bitcoin rising pricing? I don’t think time matters but we just need institutional investors adoption. More people having interest on bitcoin is what really matters and not more years.

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Considering there will be a lot of people selling their coins on the way to a million it won't be that easily done. I mean we are talking about billions of dollars pouring into bitcoin constantly and all the time, its already very difficult to bring billions into market just once to make a big push upside, think about the increase we had from 3k to 13k and now think that we need that all day everyday for a very very long time just to reach those levels. We failed to do it twice right now, how the hell are we suppose to do it all the time?

I think until bitcoin because insanely popular there won't be any way we can actually reach those levels or even try to reach it. We should focus on breaking the all time high first, that is a better priority than thinking about a million dollars.

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Quote from: bsadel on August 23, 2019, 06:37:00 AM

I have a very interesting theory about when exactly bitcoin will hit $1 million.

I said everything in the video, I'm sure you will like it.

It's not an investment advice, but just an observation from me, after following bitcoin for more than 5 years.

Please watch the video here and tell me what do you think :

https://3speak.online/watch?v=clixmoney/hjimplyn

That will make many people become the wealthiest person in their city, and they will have a lot of money from bitcoin. I am sure that many people will be happy and they will celebrate and spend their money to buy anything they want. In that time, I am sure that many people in out there will come to bitcoin because they think they will join with the euphoria and of course, they want to make money too. But that will be too naive if people from out there just come to bitcoin and buy bitcoin and then sell the bitcoin because they thought that they can make a lot of money at that time. They will only make money from what they buy and sell because they don't hold bitcoin from a long time ago.

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Quote from: peter0425 on August 27, 2019, 01:28:05 PM

Quote from: boyptc on August 23, 2019, 07:20:57 AM

Just trying to be safe and I don't want to click a link that I'm not very familiar.

Same here buddy I am not used in clicking links specially when it comes to random newbies ,since I have a friend that was victimized by phishing links before (but I’m not saying that everything is phishing but it’s better to keep precautions)

Quote

What does the video is all about? can you speak your observation through words in here?

Also waiting for explanation about what video is all about

But for me hitting Bitcoin to 1 million is next to impossible,and let’s not over expecting because failure will surely follow.

I am enough with $100k for the max bitcoin price

The video just shows that you can rationally think BTC could be $1M in 2025.
This is not absurd but I personally believe we need a few more years.

Oyarebu

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Basically if anyone ask me about the price of Bitcoin, I will say Bitcoin can skyrocket to $100k in few years to come and when this happen, there will be a much higher price. For Bitcoin to hit such huge amount ofoney, each holders of the said Bitcoin will be turn to millionaires or billionaires and this price can be achive in years to come like 2040.

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Quote from: boyptc on August 23, 2019, 07:20:57 AM

Just trying to be safe and I don't want to click a link that I'm not very familiar.

Same here buddy I am not used in clicking links specially when it comes to random newbies ,since I have a friend that was victimized by phishing links before (but I’m not saying that everything is phishing but it’s better to keep precautions)

Quote

What does the video is all about? can you speak your observation through words in here?

Also waiting for explanation about what video is all about

But for me hitting Bitcoin to 1 million is next to impossible,and let’s not over expecting because failure will surely follow.

I am enough with $100k for the max bitcoin price

guoyu78

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In the scenarios that see 1 dollar=1 rupee or 1 million dollar = 1 bitcoin; do we see dollar losing value or do we see bitcoin going up? I mean there is a huge difference between those two scenarios, if you mean dollar will lose so much value that bitcoin will worth one million.

If bitcoin goes up to one million dollars because dollar lost that much value that means there must be some global crisis that is so huge almost all countries in the world would get affected by it, it would make bitcoin go up but also price of every single thing will go up too, you may keep some of your purchasing power at hand thanks to bitcoin but the world would be screwed.

However, if you think bitcoin will go up without dollar losing much value than its as impossible as the first one since bitcoin can't gain 100x increase that quickly.

2double0

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Seeing that Bitcoin is more a game of highs and lows under the influence of high institutional margin traders, I think they will keep BTC at a stable rate more than fluctuate it. It has been distributed too much in the hands of a lot of people that the type of adoption we wanted is somewhat achieved and I think it will not be that easy for BTC to reach even the old ATH.

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Following for five years means since 2014, so you've at least already seen it go to 1k and then down, then the multi-year winter before a resurgence and new ATH.

I've given up on estimating what is rational anymore when it comes to numbers, but I am certain that we can't simply use percentage gains any more after a certain level, and I feel like we're at that level or close to it. For example, where we are today at $10k compared to $1k isn't quite the same as assuming we're going to hit $100k (though it's the same 900% increase). Just too little holding it up to sustain that price.

And sustain it we must to see $1 mill.

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Quote from: ?? on ??

Well I respect your theory. If bitcoin will gonna hit 1million dollars in the future let's say 100years from now, then it will become the most pricey investment and will become a controversial for sure. It maybe possible since the supply of bitcoin is just limited but honestly it is hardly reached that price since there has many issues regarding the transactions, fees, etc.

I think one other thing that will determine if bitcoin will get to 1million is regulation or legality because not all country are using it freely at the moment. If fiat was not generally accepted in the geographical areai it is being used, it won't gain value there , that is an example. I just hope I get one by the time it gets to a million dollar Grin

Wilhelm

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Quote from: ?? on ??

Well I respect your theory. If bitcoin will gonna hit 1million dollars in the future let's say 100years from now, then it will become the most pricey investment and will become a controversial for sure. It maybe possible since the supply of bitcoin is just limited but honestly it is hardly reached that price since there has many issues regarding the transactions, fees, etc.

It will not take 100years. More like 5-10 years.

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Quote from: Reid on August 26, 2019, 01:10:21 PM

A million a piece?
In a million chance, yeah there might be one.

USD might be 1:1 to Indian Rupee if that happens. I mean there is not much of a value anymore. So who cares if you have bitcoin.
It might just win the best toy in the world which is almost like money.

USD might be 1:1 to Indian Rupee? Impossible! Grin

but who knows? Things will change inside the country and bitcoin is far part from it so in other words, the 1 million theory for the next 5 years is almost impossible to happen. For now only the USD is the highest rate among in other countries.

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Quote from: South Park on August 26, 2019, 04:53:52 PM

Quote from: bsadel on August 23, 2019, 06:37:00 AM

I have a very interesting theory about when exactly bitcoin will hit $1 million.

I said everything in the video, I'm sure you will like it.

It's not an investment advice, but just an observation from me, after following bitcoin for more than 5 years.

Please watch the video here and tell me what do you think :

https://3speak.online/watch?v=clixmoney/hjimplyn

Does it really matter? What I mean is if at some point during the next decades bitcoin hits a very high price I will no longer care about its price in dollars and instead worry about what I can buy with my bitcoin, I say this because in order to reach a price close to that the dollar will have to lose a significant portion of its purchasing power, besides many of the people currently holding some bitcoin will not be holding any at that point since they do not really understand how valuable bitcoin really is.

Ok so you say bitcoin can only go up if the dollar devaluates and loses purchasing power. Yet you say Bitcoin is valuable Huh

I get what you want to say and that is that the value of bitcoin will increase in purchasing power, and the dollar could become useless. Thus making bitcoin the main store of value and directly usable. Converting is useless.

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Quote from: bsadel on August 23, 2019, 06:37:00 AM

I have a very interesting theory about when exactly bitcoin will hit $1 million.

I said everything in the video, I'm sure you will like it.

It's not an investment advice, but just an observation from me, after following bitcoin for more than 5 years.

Please watch the video here and tell me what do you think :

https://3speak.online/watch?v=clixmoney/hjimplyn

Does it really matter? What I mean is if at some point during the next decades bitcoin hits a very high price I will no longer care about its price in dollars and instead worry about what I can buy with my bitcoin, I say this because in order to reach a price close to that the dollar will have to lose a significant portion of its purchasing power, besides many of the people currently holding some bitcoin will not be holding any at that point since they do not really understand how valuable bitcoin really is.

Reid

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A million a piece?
In a million chance, yeah there might be one.

USD might be 1:1 to Indian Rupee if that happens. I mean there is not much of a value anymore. So who cares if you have bitcoin.
It might just win the best toy in the world which is almost like money.

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Quote from: bsadel on August 23, 2019, 06:37:00 AM

I have a very interesting theory about when exactly bitcoin will hit $1 million.

I said everything in the video, I'm sure you will like it.

It's not an investment advice, but just an observation from me, after following bitcoin for more than 5 years.

Please watch the video here and tell me what do you think :

https://3speak.online/watch?v=clixmoney/hjimplyn

Well there are many factors that affect so that it can happen, it is possible that it reaches 1M, and it may happen quickly, now we are with the approval of BAKKT for this September 23, if they execute the approval of the ETFs, we will have new protagonists in the market that will surely bring new ATHs to Bitcoin prices. And if we add that the Libra cryptocurrency will soon be launched in 2020, which through Facebook manages a large number of business models, will bring to the world of bitcoin all those people who did not know about technology.

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Quote from: BitHodler on August 24, 2019, 02:33:11 PM

Quote from: exstasie on August 23, 2019, 05:52:40 PM

In percentage terms, it's not outrageous at all. Using Bitstamp prices:

2015 low: $152
2017 high: $19,666

That's a 12,838% rise. Apply that to the 2018 low of $3,122 and we're looking at $400K+. That's just one bull market cycle.

Everyone also looks at 2011 and 2013 and assumes the next cycle must be smaller, but I'm keeping an open mind about that. For example, if we apply 2011's gains bottom to top, the next cycle target would be $1.8 million.

Am I expecting that in the next bull market? No, but I'm not ruling it out either. With Bitcoin, the potential upside is endless.

I can be open minded about gold too and pull out its lows and highs and assume the same will happen again. The thing is that it doesn't have to happen just because it happened before.

You sound just like I did in 2015. I lost a lot of BTC being bearish in the early stages of that bull market. Anything is possible but betting the trend (2011, 2013, 2017) is a lot safer than assuming "this time will be different." It usually isn't.

Quote from: BitHodler on August 24, 2019, 02:33:11 PM

Bitcoin isn't always going to be a hot low priced asset class. I consider its long term up side to realistically be $50-$100k, but after that the risk of buying it doesn't outweigh the risk of seeing it go back to current levels or even lower.

You and everybody else on this forum, apparently. Everybody thinking $100K is the maximum upside (if they can imagine it at all!) makes me confident we're going much, much higher.

Quote from: BitHodler on August 24, 2019, 02:33:11 PM

I just don't see the demand reach that far because most people in developed countries don't need Bitcoin.

Most people don't need gold or stocks either. So what? They want to park their money in something that isn't cash. I also don't think small retail investors will be the predominant driver of Bitcoin price in the coming decades.

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My idea was that there is about 2% inflation in USA almost every year, it is 1.5 sometimes, it is 1.8 this year, it basically changes a bit but every year its around 1 or 2, we be optimistic and pick 2% lets say, that means even if the price worth around 50-60 thousand dollars right now to reach 1 trillion marketcap for bitcoin, that still means around 20 years to reach 1 million dollars at least, and that is AT LEAST and a very optimistic approach. That is simple finance for you, no details no tricks or tips, just simple financial calculation shows we have at least 20 years for each bitcoin to worth 1 million dollars.

Can it become sooner? Sure it can worth whatever people want but it wouldn't be real worth, it would be manipulation and speculation nothing more.

The Sceptical Chymist

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Every time some speculation thread like this comes up with a question of when bitcoin is going to hit some astronomical price, I always think back to when bitcoin was treading water in the $350-$400 range. I haven’t checked a chart before posting this, but I think it was in 2015-16.
People were asking when it was going to hit $10k, and at that time I thought I’d never see that price in my lifetime—and bitcoin actually hit double that in 2017.

So $1 million? I’d hate to say we’re not going to see that for many years, but now I think it’s not only possible, but may happen sooner than I could have imagined.

On the other hand, I’m not willing to treat bitcoin as an investment that I’m absolutely certain is going to hit a million within 10 years or so. If I really thought that way I’d sink every dollar I had into it. The truth is that I’m not sure where it’s headed next week, much less 10 years from now. Plus, realistically bitcoin would have to grow 100x where it is now. That’s quite a feat for any asset.

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