Bitcoin Forum

I am aware that there some people who think that James Altucher has no reputation to start with and that we should not listen to whatever he is saying no matter how positive it can be for bitcoin. But then again, maybe we should give him some space to make his point. In one of his latest interviews, he talked about enlightening things worth of our time, I guess.

"Best-selling author and former hedge fund manager James Altucher is not backing down from his $1-million-dollar bitcoin call that he boldly made back in 2017. His timelines may be a little different however. Altucher made the call two years ago when bitcoin was trading around $11,000, he called for the crypto to hit $1 million by 2020."

https://www.youtube.com/watch?v=I4xbUCcZqP0

A $1 million dollar per Bitcoin possibility is very Impossible for now in my opinion right now we are down again to $7,972.58 USD and the resistance is still there, well I guess we still need to pierce the $9000 USD If we can do this I guess it might be possible to get us to $1 million Dollar per bitcoin but I highly doubt that this year can be certain  well I may never know, But everything is possible with the Bull Market.

There is a real world, and there is a world of fairy tales, and it is more than obviously in which world this person lives. 2020 knocking at the door, price is under $10k and he will take the magic stick and launch bitcoin to $1 million in next 6-7 months.

James Altucher is based his theory on fact that there is $200 trillion of fiat money, and that at some point fiat currencies will begin to collapse, and people will start to buy bitcoin. He even say that $1 million is not necessarily to occur by 2020, maybe in few years or something like that. Actually, it's about pure speculation of one man, same as John McAfee.

What is interesting is that both of them have said that back in 2017, the only question is who was the first.

If this will be happening after bitcoin will reach its hardcap supply and i believe if that will be possible but when the miners still get reward from the block to be dumped to the market and i believe if that guy was creating a non sense speculation like what already did by so many bitcoin speculators.
1 million for 2040 makes sense for me rather than 2020

I watched the video and I found this magic word!  The word is "if (https://youtu.be/I4xbUCcZqP0?t=216)".  From that, I would say even the speaker have doubt about his belief.  He set that word just to be safe in case his prediction does not happen.  That said, I can say no, Bitcoin won't be $1m  by 2020.  I am bullish but I'd rather live in the world of reality than fantasy.

LOL, is he and John McAfee smoking the same pot?  ;D. The only logical reason I can think of is that this guy perhaps went all-in on Bitcoin and betting his life savings on it that's why he wanted the price to hit that high in 2020. Otherwise he is detach from reality because we all know that it's far-fetched to say that Bitcoin could really hit $1 million by 2020, lets admit to that fact.

@serjent05 - thanks for saving me 5 minutes of my time, not watching that video. So the hypothetical "if" is what this whole argument is about.

Can we at least first hit $100,000 before we start talking about $1 million?

These fools have only their outrageous predictions that makes them interesting to invite for mainstream media brands, because what else do they have to contribute? They don't even have that much of a position in Bitcoin at all. We should pay attention to the smart money, not to broke ass drug addicts and other cringe worthy individuals.

I like Daniela Cambone (the only reason I follow Kitco). She at least has a clue about the market and you can see that she has her doubts when talking to that clown.

I'm not saying it's impossible. No one who's been around in Bitcoin for a while will say it's impossible. But I will say this: it's likelier to be $1 than it is $1 million. And I'm not even a nocoiner.

Altucher, McAfee, et cetera. It's not like I'm any better than them, no, but are we really just so fixated on price that it's all that matters?

What's McAfee or Altucher ever really done other than Sunday mathematics using numbers other people came up with and arbitrarily shifting them around until they arrive at a figure they like.

I like $1million. Let's do magic numbers till it arrives at $1 million.

Before speaking about one million, they should be speaking about building a citadel for bitcoiners.

Because if bitcoin reaches this price (and specially as soon as 2020) the nocoiners out there will want our heads.

Price predictions should not be based around lambos, but around our own survival.

I follow James Altucher's news blast sent to my email box everyday. Some of his free stuff is great but most of the rest is click bait. The way he leads people around into click-bait is like a deceptive used car sales person. I often want to unsubscribe from his list but there are some decent reads in there sometimes. I have not figured out why he acts like a used car sales person because he is an otherwise talented and generous individual.

He is still talking about USD.
How come you talk about a large price of another commodity or currency then weighing it with USD as always.
That will be 21,000,000,000,000. 21 trillion? Errr. I dont think so. The world will not let that happen.

How about he try to weigh it in a different scale.
If that happens then maybe I will believe him. That is short span to HODL until 2020. Remember that the bitcoin price almost didnt move for like October 2018 to May 2019. We almost thought it will the stable times and will stay at that calm moment until now happened.

James is perhaps a member of this forum or an onlooker.

I'd like to get some more of his ebooks but everything he sends out is click-bait and labeled as something you must click on and it is super urgent to click on it or you will miss out if you do not click on this so click on this!

Haha. Buy this used car! Nice try James.

I do not think that in 2020 BTC will cost 1 million. I believe in high prices, but not 1 million and certainly not in 2020

Sure, but it's one thing to try to be bullish about Bitcoin and say that it'll reach X price based on analysis of market trends and whatnot (like Tom Lee), but it's a different thing to say that the price will reach 1M in a year and a half, that's just straight up nonsense and anyone saying such thing in the media should be ignored (like McAfee).

We haven't even touched the 6-figures, how the hell can we expect to hit 7-figures next year? James Altucher is clearly trying to draw attention for god knows what reason (maybe he's going to publish a book and he wants the spotlight while promoting it? I don't know...)

^
LoL

ah well, he may be right ir not and only the future can tell us that. Actually, what I personally believe is that Bitcoin will surely pump very hard next year but i haven't speculated up to that price yet. Maybe a $100K. 2020 is gonna be an awesome year but let's not forget that we need to stay very very careful since the hype for 2020 is very high.

There is no shortage of con artists being given exposure they don't deserve. I don't get the point of these predictions being brought up again. They have been present for over a year now.

McAfee predicted that the price would hit $78k before the end of 2018. When he was asked about this specific prediction in an interview, he said it wasn't him having made the prediction. What an utter con.

Great find. From hater to wannabe Bitcoin supporter, what a shift.

It is possible but it will not going to happen thinking that the bitcoin market price could barely move to 8K-10K as of this moment so 1million USD per bitcoin will.not going to happen. Anyway, if bull run will going to happen in 2019 theb there is a high possibility that it will reach to 30K usd and that smis the ideal bull run market price for bitcoin.

Yet, there are only few that will going to buy bitcoin that price because it is very expensive so probably bitcoin will just reach 19-22K usd per btc.

Let's be honest here, we all know that bitcoin won't reach that price aren't we. And I don't really care whoever predicts that we are going to reach that milestone in short amount of time. Most of the time those who are predicting this mega-price is nothing but a fool who just throw random numbers in the air and hope that it will be a hit in the future.

the guy said this:


this is not an absurd prediction in the context in which he said:



https://i.imgur.com/lXGBXDn.gif


the guy said "if". this is a condition

I still believe that some of this bullish speculators are seeing something that many of us are not seeing and since they keep insisting that by 2020 bitcoin will be going high to as mush as $1,000,000 I think it is advisable for us to keep "fingers crossed" and see what will happen and how it is going to be.

His call was earlier than John McAfee's but it's with an if.

^^

Haha, he changed his mind.  :P

It's possible, as is anything else, I'm not sure whether it's actually desirable. If it were to be that fast it would probably stick around at that price for approximately 10-20 minutes and then plunge into beariness that lasted way longer than anything we've seen so far.

The more violent the rise, the more grinding and dispiriting the fall. I for one would attempt to be long gone if it happened but the blockchain and every exchange would be so utterly seized you'd be very lucky to fully capitalise on it.

Nothing is impossible but this is very unlikely. The world economy is not a complete mess yet but it is heading that way with all that quantitative easing taking place and no way of paying back all of those loans

Its not desirable. The bear market would be severe after this spike, and would collide against the halving 4-year cycle, coming earlier at 2020 (instead of 2021). Since I discarded the cycle model, I believe it can happen, but its not desirable.

And as you pointed out, you would not be able to cash it out. The exchanges would not have enough fiat money for it. Only some whales with inside information would be able to cash out, provoking panic and bringing a new crypto winter. Exchanges would surely crash, some could be seized by governmental agencies. The whales cashing out could have some problems with authorities too, due to taxes and stuff like "origin of funds".

Not only that, the hype would bring the nocoiner brainlets to crypto, and they would be very angry at bitcoin after it plunges 90%. Even if the price recovered, with the potential to reach 1 million and stabilize right there, the well-know envy of the nocoiner would be higher, and holders could be hunted in some places. Even the security guards the holder hired could hit him with a $5 wrench to get his private keys. A dangerous situation.

I doubt about the price could reach that high in just a year, even if the bitcoin does replacing paper currency it will still difficult for bitcoin for reach that number, let just make sure bitcoin grow well and stable, if its not dropping below 6k then it's already a good improvement, if it can reach another ATH then it's already a good achievement, one million is still a very big number, it wont be possible in a short time

The price is entirely set by what exists on exchange order books. There'll be coins for sale at $1 million waiting there right now to be filled. One drunken moron could do it in one morning of hammering their buy button.

Obviously that's not sustainable but any method of getting there in that short a time is not sustainable either.

It is possible, but it will not happen since chance is so tiny. Most likely we will see a $1 Million Bitcoin only in fourth decade of the 21th century.

For bitcoin to hit $1 million, it would have to be the global reserve currency taking the place of the U.S. dollar and gold, which is unlikely any time soon. I could see that possibly happening by 2025 or 2030, but while it can happen by 2020, it is highly improbable to put it nicely.