Bitcoin Forum

... bitcoin rises to 10,000$, or dollar falls to 10k/coin, however you wanna say it :)

What is a thoughtful prediction of yours on when you think this day will happen? try to be exact and think of a couple reasons why you think that will be the time to make your post stand out, and at the end of it all I will make a graph of all answers with an averege estimated date.

If no reasons come to mind; you can just pass aslong as you tried and just give out an estimate date. :)


my guess: 4th march 2016, there is just something beautiful of the thought of it happening after the EU starts to realise what's about to happen with their united currency, the same way it flows downwards like litecoin follows bitcoin, it shall follow $, cny and ruble.

My guess would be 28th of May 2016. Reason? Just a hunch.

People seem to keep hoping for the currency to appreciate in value when the USD is potentially on a run that repeats the prosperity of the 1980s. That's not going to happen.

At the same time, why does BTC even need to trade significantly higher than its current price. If it wants to function as a currency, why should it be dislocated with such magnitude from other currencies?

My money (or I should say BTC) is on sometime between March 2017 to September 2017.

the dollar amount is not important.. in the future we will base bitcoin on the international cost of bread, milk and baked beans. that way people can see true value more directly without conversion

https://i.imgur.com/duRmVp1.jpg

My guess is never  :(. It looks like previous ATH was the result of Karpeles' Willy Bot. Also, if it ever did get near it's ATH again I think money would bleed away into technologically superior crypto assets.

This question arises here every month or so
At least
Thing is... Huge spike in btc/usd valuation isn't sustainable nor is it desirable
Btc is better retained by the user in event that usd inflation and mass adoption conspire to make its buying power and useability optimal
What it was designed for

Cashing out for fiat defeats the purpose

The answer to your questions is Mass Adoption.
Most people believe that the price needs to get higher and higher to achieve mass adoption. (we have seen a big increase in users when the price was at $1200)
If Bitcoin stays at the same price it is now, it will never be mass adopted because there will not be enough coins (and value) to go around.
Don't forget that a huge number of coins is currently residing in very few wallets/addresses.
And those are the ones we know are kept in one location. There is many who keep their coins split in many smaller wallets.

the 10,000 USD/ coin seems to me like a long shot and a dream of bitcoin holders that want to become millionaires in one night.
this sort of inflation requires a mass adoption of bitcoin and falling of the current banking system which leads to people looking for a substitute. this doesn't look like happening to me in at least 10 years.

not sure, but probably this halving will not be enough for a stable 10k per coin, for a unstable value it can happen, like a peak that last 1 few hours/days

i'm more looking forward for something in between 1200 and 10k for the next halving

well In my opinion i think when bitcoin reaches its 20 million coins distribution and ended. it will finally collapse.
why? because if there are many bitcoins that are being lost forever. there will be fewer and fewer bitcoin circulating everyday
and it will be a great impact on its value and price in the long run. but i think 2016 will be a good year for bitcoin if the distribution still hasn't ended

i can't say when or if it is going to happen but i doubt if it happens in 2016

Why do you want it to rise to 10'000$/BTC? Just to cash out on your investment and say bye? Why not just use it as it was mean to be instead of holding and hoping?

Also, I am curious what is this 10'000$/BTC hope based on? Purely that  there is no inflation?

My guess is a little more conservative compared to other predictions.
I don't think the government would let lose their monopoly with ease, and for a scenario as you have projected, it would take a little longer and drastic to happen.

My Guess: 24th June 2021

What if you used BTC at that point to buy a house or a car or something else that is expensive? Would you consider that cashing out? Or just spending bitcoin at the right moment?

That is why we want it to rise indeed, to spend more, share the wealth. See the fruits of our investments. Being able to oshow off your new car/house/whatever and say: Bought it wiht Bitcoin! A big told you so to all the haters and non believers. 10.000 might be a bit far fetched, but the halving will cause a price rise, and the price is gradualy rising, or fiat is falling, anywhich way goes...

Why do we need to care about the price of Bitcoin?  ???

In the UK we don't have shops that sell things for "$1 of GBP", we have shops that sell things for £0.60.

So the thing we need is shops selling things for BTC0.002 instasted of £0.60, than we are a big step closer!

Improbable, I'd say. The last ATH was purely manipulated by the Willy bot, so I think the price rise to $10k naturally is nearly impossible, unless people will begin to realize that bitcoin is the way to go.

In an ideal world yes. But then why not buy a car with bitcoins right now? Because people still hope to get rich. You think that actually this is what will happen (people spending it to buy things)? If you give someone the option to have a car or an equal amount of cash, he/she will go for the cash and spend it the way he/she likes. Although this is just my experience.


This would be a large step indeed. However, I am afraid we still ave to wait for something like this about 5 years minimum to appear on a larger scale.

I do not want btc to rise as i sold all my coins a month ago... and if it suddenly surges high than i will be pi**ed off. yeah im selfish lol but reality is that i do not think BTC will grow major until a couple years time. I honestly think that there would be another coin that will beat BTC in popularity and value.  BTC is the foundation of all coins and it will be the starter of something even better. I hope we all make a good earning from it.

you want that this happen only because you sold everything, but the chance are very slim, bitcoin will be the 1 first coins for many years, because it's very hard to come up with something completely different yet revolutionary like it was bitcoin, and a simple pure clone will not cut it....

The idea some alt coin will take BTC's place is such a joke.  The reason is the exact reason you accept $20 USD for payment, everyone believes it has value.

ALL Cryptocurrency users accept BTC has value,

Some accept altcoin 1
some altcoin121421
some altcoin 235432

and so on.

There really should be some type of fucking first grade arithmetic test before anyone's allowed to post here.

Got a big fat news flash for everyone - a $10,000 bitcoin is still fuck all in terms of the wider world.

The dollar does not need to collapse. A loaf of bread does not need to be worth $1000. Nothing needs to change other than the desire by a greater number of people to use and hold BTC.

Why are so many on here too dim to harness basic conceptualisation?

$210B would be about 5x paypal's market cap, but only 1/30th of the gold market.

Because of our sub standard education dickwad. Now explain it again. Only this time S.L.O.W.ERRRR.

Haha.

My apologies for the "dickwad" comment. I'm just joshing with you.

Maybe so but it'd make me pretty damn happy & a lot of people very, very wealthy. I dream of bitcoin becoming so very valuable that we can wipe our ass on gold plated toilet paper but in all honesty even if we were to reach a USD value of 1 bitcoin = 10,000 USD it'd be a dream to many of us. We'd have wealth not possible via our normal working lives.

Well, I dunno about a lot. Most on here seem to have 0.05 that they piss away gambling the moment they have it.

Don't get me wrong, it's a very respectable amount and would make it much harder to discount than is possible now, but it still would be a minor spillage in the global ocean rather than a drop.

Conflicting ideas, I guess? ??? I think bitcoin will be the coin that beats all for years long. If you sold all your coins earlier, then you're very eager to earn profits, which is bad I think, as most of the time it interrupts your potential earning. As for the coin to replace bitcoin in the future, it must surpass what already is within bitcoin's concept, and it must be accepted by a wide audience before we even call it as successful.

It doesn't work like that. BTC is more like a stock than a traditional currency. BTC can reach 1 million per coin and perfectly function. The idea that being far from the price of other currencies is somehow not good is nonsense.
More demand and less total supply available = higher price, period. It's as simple as that.

Mainly because unlike every other currency on the planet bitcoin is scarce. There are considerably more than 21 million dollars in the world.

Hundreds of altcoiners would, sure, and quite legitimately too.

True, instead of using currency I should have specified fiat currency.

There can be only one, network effect, first mover advantage etc etc

Yep. If you think a million altcoins existing somehow make Bitcoin less scarce you are failing to understand what makes Bitcoin valuable. Cant blame a newbie on that one tho.

Not scarce at all...

If some altcoin has a hardcap of 21 billion coins.. then by default it is 1000 times less scarce than bitcoin.

Most altcoins have the supply fixed somewhere north of 21 million.

I don't understand why people get the sudden urge to start selling near the bottom.. Did you need the cash? In that case, it doesn't matter, you needed it. Otherwise you made a bad move. You can still re-enter at a small loss..

I'd like to think that I never have to convert any BTC to cash (though I do find it interesting to compare it with USD).

Perhaps the use case is what will decide the price (whether for average purchases, gold alternative, or some other case we haven't seen yet).  Depending on what it becomes known for could add or remove several zeros to the price.

For the shorter term I think around $300 is all I would expect this year, then a few months before halving it could climb to maybe $400's, and then it will pause for a while, as people look around to see if that's a real price or not, then if it stays there for a few weeks we could go to $600-700 range fairly quickly.

Although there is potential for the very large numbers, I think it's still just a small seedling and not the oak tree we'd like it to be.  That I feel is 5-10+ years down the road.

Just before the halving, I think we can see a new atm high, and to be more specific, I would say a $2,000. I am not saying Bitcoin would stabilize at this price, but it can sure touch it.

.....To buy more things.... are you stupid?

Things? Things are shit. I would like more services. Services to provide me with more things..... oh wait!

before the halving is when everyone will be stockpiling their coins especially miners I'm sure we can see 5k hitting too as we haven't really had a bubble in a while lol :D

Or maybe since everybody expects this it won't happen as nobody will pump it up, just hold and wait  ::)

The best thing to do for now is indeed to hold and wait, but there will be a time when we will have a huge pump sooner or later, and you'll have to decide: Do I try to profit from this pump or do I hold thought the entire thing?
If you hold through the pump without selling, im amusing you would do so because you are a long term 10+ year investor and you dont want to lose your position.

Nope, not since they killed Willy  ;)

https://i.imgur.com/fDNy9xJ.jpg

THREE WORD ANSWER: SUPPLY PLUS DEMAND

Thats true, but where is the new supply of demand going to come from is the real question.

I think most people overlook on the whole aspect of where the new demand is coming from, unless the volume comes from like china which has banned bitcoin last time I checked.

Check again.

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country#China

I hope this guy actually visit karples back in japan, and eat a pizza right in front of him.

I remember this dude was in the rain showing up and while karples just walked by him with his starbucks cup and acted nothing happen.

I have a strong distaste for discussions about "what gives bitcoin value?". Bitcoin has a currency equivalent at any one point in time equivalent to the price someone is willing to pay for it. That's it.

Usually, the next question that follows is "how is that price determined?". The answer to this is that the price is the equilibrium of several factors"

1. the current level of currency flow into and out of BTC
2. the percentage of miners that are presently required to sell coins to meet expenses
3. the current level of consumer demand for bitcoin services, such as retail or gambling
4. the current demand or lack there of for alt coins, which due to mostly being denominated by BTC on most exchanges makes them function as a natural derivatives market for fiat/BTC.

If you want to achieve $10k/BTC then we're going to have to see a major increase in currency flows into BTC. This could be aided any other factor which mitigates trading BTC for cash.

I think following halving, we will see an uptick in the $ trade price. However, I think it will come with many collapsed mining operations, especially in china.