In my opinion, this very well could happen. But, bitcoin must be adopted by one of the big online retailers. Without it, btc is just pure speculation with very little real world application. The price is too heavily inflated by speculative holders.
If and when amazon/eBay or similar adopt btc, then we will see huge growth.
Bitcoin can also just simply be used as an investment only currency. If it was the denominator of the altcoin market, just like fiat is the denominator for stocks, it would easily grow beyond 100k just based off of that alone.If and when amazon/eBay or similar adopt btc, then we will see huge growth.
Yes but then bitcoin becomes the Ponzi scheme most people are afraid it is. If it only grows because new people are investing in btc, which benefits the earlier investors, that is the clear definition of a ponzi/pyramid scheme.
I really think that to take it to the next level, it’s needs to be wifey accepted. And I don’t mean with small, niche retailers. A western organisation/retailer needs to get on board, and in my opinion this needs to be done in the next 12 months. I think after that, unless there is a real and fundamental change, people will start to doubt bitcoin.
As long as bitcoin will hit $10,000 for the next year and even higher for the consecutive years that does matter to me. I'm good already with bitcoin at $10,000 and I'm not going to expect more so if the price gets higher and reaches beyond $10,000 that's a jackpot for me. And if the price didn't reached more than $10,000 and that won't hurt me well either.
