Where do you expect Bitcoin to "settle" once the market is mature? - page 3.

exstasie

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Quote from: thecodebear on February 08, 2019, 05:30:56 PM

Eventually if bitcoin is adopted by the world its volatility will tick way down and it's market will mature. Look at gold it is fairly settled between in the 1200 - 1400 range for the past about 6 years now. Where do you think that point is for Bitcoin? Not saying it won't occasionally have big movements, but outside of some big economic event that causes a big price movement where do you think it will settle?

I'm thinking in the $300k/$400k range.

For gold, this is just a short-term consolidation. It didn't "settle" anywhere. It just had a historic bull run from the $200s to nearly $2,000 per ounce that ended not even 8 years ago. In the late 70s, it was trading below $150!

It took gold thousands of years to reach a point where it's still very volatile by any conventional standards. Bitcoin won't settle so soon either. We're nowhere near mass adoption yet so who knows what it'll look like when we achieve that? If anywhere, it'll be seven figures USD and not six, but can't get more precise than that.

Idrisu

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Quote from: thecodebear on February 08, 2019, 05:30:56 PM

Eventually if bitcoin is adopted by the world its volatility will tick way down and it's market will mature. Look at gold it is fairly settled between in the 1200 - 1400 range for the past about 6 years now. Where do you think that point is for Bitcoin? Not saying it won't occasionally have big movements, but outside of some big economic event that causes a big price movement where do you think it will settle?

I'm thinking in the $300k/$400k range.

It might take a very long time for that to happen because it volatility has to be in place when maturity started to have it ways in the market. We actually needs the stability in other to be able to witness public adoptions and acceptability.

semobo

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Quote from: thecodebear on February 08, 2019, 05:30:56 PM

Eventually if bitcoin is adopted by the world its volatility will tick way down and it's market will mature. Look at gold it is fairly settled between in the 1200 - 1400 range for the past about 6 years now. Where do you think that point is for Bitcoin? Not saying it won't occasionally have big movements, but outside of some big economic event that causes a big price movement where do you think it will settle?

I'm thinking in the $300k/$400k range.

It is hard to predict the value of bitcoin for now because lot of coins were lost or just buried in wallets for long time,the population of world keep increasing and the value of fiat getting inflated and more over lot of cryptocurrencies were created.

xuan87

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It's hard to say what will be the price of Bitcoin once it settle, it can be any number but I guess it will be around 100k, but from time to time the value will keep on increasing due to the limited supply, and calculating the lost coin, it's too soon to say a specific number and it's a long way before Bitcoin reach maturity, we are still in phase of passing the government permission

o_e_l_e_o

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Quote from: Pursuer on February 09, 2019, 06:09:53 AM

-snip-

If we look beyond our lifetimes, provided we don't kill ourselves with global warming, nuclear war, or similar, the human race will colonize other planets. We will, at some point, reach a population of trillions of individuals. If (and it's a big if) bitcoin is still around, even only as a niche payment method, the price could be much higher than it is now. If it becomes widespread in such a large population, the price would be massive.

Pursuer

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Where is my ring of blades...

Quote from: o_e_l_e_o on February 09, 2019, 04:43:43 AM

Quote from: talkbitcoin on February 09, 2019, 04:09:16 AM

it is not possible to say. we are still on the ground floor and seeing the final step from here is not possible.

Agreed. It depends entirely on how widespread adoption is. If adoption is stuck at where we are now, with a small handful of users and niche services, then the final price is probably close to where we are now, if not lower. If we end up with widespread adoption, and bitcoin becoming the "currency of the internet" like Jack Dorsey (Twitter CEO) said a few days ago, being the payment of choice for many massive online services like Amazon and Steam, then we could well be looking at a 6 or even 7 digit figure.

It's impossible to tell, and widespread adoption (if it comes) is years, if not decades away.

lets not forget about the limited total supply of bitcoin. unlike any other currency, bitcoin has a cap. there will never be more than that fixed amount (21 million) coins and bitcoin being a global currency and the population of the world being a lot more than the small percentage that are already in, we can easily expect 6-7 figures with half a growth before even reaching mass adoption.

YuginKadoya

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I can say that the maturity of bitcoin was finally taking the effect through out the years and the correction was still there that is why the price is keeping on bursting down, But the good part is when the price floor was met we can finally see that the the price is still increasing forward, This is how the price of bitcoin settle in the past and I think by doing this we can then see another all time high.

Volatility is a sure thing for bitcoin to improve itself and many are considering its volatility as a sure possibility for them to succeed.

o_e_l_e_o

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Quote from: talkbitcoin on February 09, 2019, 04:09:16 AM

it is not possible to say. we are still on the ground floor and seeing the final step from here is not possible.

Agreed. It depends entirely on how widespread adoption is. If adoption is stuck at where we are now, with a small handful of users and niche services, then the final price is probably close to where we are now, if not lower. If we end up with widespread adoption, and bitcoin becoming the "currency of the internet" like Jack Dorsey (Twitter CEO) said a few days ago, being the payment of choice for many massive online services like Amazon and Steam, then we could well be looking at a 6 or even 7 digit figure.

It's impossible to tell, and widespread adoption (if it comes) is years, if not decades away.

talkbitcoin

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All I know is that I know nothing.

it is not possible to say. we are still on the ground floor and seeing the final step from here is not possible. all we know is that bitcoin is still rising and so far has only fulfilled something like 1% of its true potential so there is still a long way to go before we reach that stability level due to its mass adoption.

if i had to make a guess, i'd say it would take at least another 10 to 15 years and price would settle somewhere around $1 million.

thecodebear

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Eventually if bitcoin is adopted by the world its volatility will tick way down and it's market will mature. Look at gold it is fairly settled between in the 1200 - 1400 range for the past about 6 years now. Where do you think that point is for Bitcoin? Not saying it won't occasionally have big movements, but outside of some big economic event that causes a big price movement where do you think it will settle?

I'm thinking in the $300k/$400k range.

Topic: Where do you expect Bitcoin to "settle" once the market is mature? - page 3. (Read 652 times)