Bitcoin Forum

Bitcoin could hit $100,000 in 10 years, says the analyst who correctly called its $2,000 price

• Bitcoin could make up 10 percent of the $5 trillion average daily volume in the foreign exchange market in 10 years, according to Saxo Bank analyst Kay Van-Petersen.
• Its market capitalization could grow to $1.75 trillion which would make each bitcoin worth $100,000.

http://www.cnbc.com/2017/05/31/bitcoin-price-forecast-hit-100000-in-10-years.html

You can make any prediction now. No One will check it. I think Bitcoin could hit $1,000,000 in 10 years

But he correctly predicted the $2k price. But you are right, in 10 years no one will remember it, specially if he is wrong

There is a difference when it comes to predicting $2000 and something that sits in the range of $100,000. At least it's not an insane prediction like the one from PayPal's director Wences Cesares. He predicted that Bitcoin will reach $1,000,000 in 5 to 10 years. I think they just look at how the price has gone up in recent time, and likely just assume it will continue to increase like that with no interuptions. That's however not how the market works. Why can't they just focus on $10,000 first? That alone will already form a difficult target in the coming 5 years.

The numbers makes sense, but some thumb suck percentages are being used :

~ •Bitcoin could make up 10 percent of the $5 trillion average daily volume in the foreign exchange market in 10 years.

~ •Its market capitalization could grow to $1.75 trillion which would make each bitcoin worth $100,000.

This would mean that $175 billion worth of bitcoin would be traded every day. This sounds a bit crazy at the moment.  ???

There are some optimistic percentages and figures being thrown around, but the calculations are sound. Let's hope this one is spot on too, I

would consider early retirement if that happens.  ;D

It seems to me that four years ago people were also skeptical about bold forecasts. Bitcoin has become very popular over this time, so we can not know what will happen in the next few years.

This is exactly right.  Since I first read about bitcoin on Slashdot in July 2010, every prediction has been:
1. that $<whatever> ($0.10, $1, $10, $30, $100, $300, $1000 ...) is a bubble;
2. it is unsustainable and will crash;
3. $<whatever price higher than today>  will never happen;
4. it is "tulips";
5. Not to mention the ridiculous "I'll just duplicate my wallet.dat and double my coins";
6. "<2010, 2011, 2012,2013, 2014, 2014, 2015, 2016> is too late, we're not early adopters".

Admittedly at some point this will be true - bitcoin will stop growing, but if scaling is fixed and segwit is activated the growth will then be huge. An order of magnitude or two (or three?) worth of growth.  With scripting versions in segwit, it opens lots of opportunities for reenabling opcodes that were disabled years ago which opens the doors to many, many uses all backed by the block chain.  Ditto lightning.  Ditto a 2MB (or more) legacy block size non-witness increase.  Ditto sidechains.

The potential has and continues to be there if features are enabled.

It's definitely true that no matter what high the price was breaking through, there were always those that predicted specific levels to be the ultimate top, from which the price will only go down. Reality is that the market literally demolished every all time high. Remember how people were laughing at those that bought at the peak of nearly $1200 back in 2013? If the people that bought back then kept holding their coins, and bought all the way down to average down their overall buying price, they are in fact winners. I prefer to look at things step by step -- $3000, $4000, $5000, $6000, $7000, etc. It's probably my conservativeness. :D

I think it will hit the $ 10,000 mark in the next few years may be faster than expected. Bitcoin is a center of attraction attention of financiers. Not only that it can thrive more when attracting investors large and small around the globe.

Investors alone will not be able to raise the price of bitcoin to such a high level. There must be a general acceptance of bitcoin by all the developed countries of the world. But some countries are not yet ready for this