Bitcoin Forum

In 2018, the average US income was only 8.4 BTC...

Anyone got predictions for 2023?

https://www.instagram.com/p/B3I_ihlJmMj/

In 1st quarter of 2013, the price of bitcoin was $135 so if it was over 286BTC, the calculation would be 286BTC * $135 = $38,610 approx. But the ending price for that year increased to $700.

While for 2018, the bottom was $3,300 and the calculation is 8.4BTC * $3,300 = $27,720 approx. I don't understand the metrics and price range that the chart took if there's a specific price that he has used as basis. And as for 2023 predictions, due to that chart the price of bitcoin obviously increased so what if around 2-4BTC?

Now that's an interesting fact. Due to the potential upcoming world crisis and inflationary USD I expect that most of the currencies in the world to lose their value like a crazy bear would claw them down. I'd say that in 2023 the annual US income of the average joe would be less then 1 BTC maybe even lower than half of that. People tend to underestimate the power of deflation and compounding.

Most people I talk to about Bitcoin and I say 6-7 digits numbers call me crazy and dreamer, but smart financial-versed persons will tell you that's not the case ;)

As years pass the price of bitcoin have increased along with large scale adoption and more real life uses. In 2013 it got much used into transaction of huge volume of funds, illegal activities, and gambling. Now the preference is for investment, trading and for future benefits.

If the average earning by the year 2018 is 8.4btc it'll get decreased by the year 2023. 2018 hadn't marked good growth in the price of bitcoin. This way my prediction for the year 2023 was between 3-6 btc.

Lower than 8 thats for sure. With how the price of bitcoin increased today and would only slowly increase in the future, I'd suppose it would be around 2-3 BTC. I don't really know if my prediction is right or wrong, but the fact that the average income would decrease would be for certain. A lot of people still don't believe in bitcoin and look at how much they are missing out already.

The price used was the average of every single day's price during the specific year (comes from CoinMetrics.io). So 2013's "bitcoin price" was the average price of Bitcoin across every day in 2013.

I believe that Bitcoin still has a very long way to go. Back when the price of Bitcoin was 20k, the average US income would have been just about 2 and a half bitcoin, an absolute insane feat for bitcoin to have achieved but was only short lived. However, it is possible that we will one day see that price once again and my prediction is that by 2023 we will have past that price and bitcoin will be headed for the moon.

Definitely have to agree with you here, with the upcoming halvings, the amount of bitcoin entering circulation will continue to decrease and therefore the price will continue increasing due to the simultaneous increase in demand which will occur due to more people being educated about bitcoin.

Why would they use the minimum price of bitcoin during that year? Surely they would have used the average price.

There was a huge difference in US income in 2013 which was 286 btc and in 2018 the median was 8.4 btc. The key to this difference was the price difference of bitcoin in 2013 versus the price of bitcoin last 2018. Its hard to determine what would be the average median income of US but I guess it will not go very far from 8.4 btc and I think it will just hit 7 to 7.5 btc for the year 2020. But I am hoping that the average median income of US will hit 2 btc this year, though this is just a dream but I just wish it will come true.

They probably did and we can more or less calculate what price they chose.


If the result was 8.4 BTC then the price must have been 7500 USD, which is fair because in 2018 the price was between ~17k USD and ~3,5k which makes it average at about 7k USD.

I have to add that the average income of 63k usd is a household income, not the income per capita, which makes a huge difference. For me personally even a household income of over 60k USD per year is an enormous amount of money. Even if I were to live with my parents with my wife and all 4 of us would chip in for a single household income, we wouldn't be able to reach 60k USD  ::)

You are just asking to predict an average US income in USD and the price of BTC in USD in a few years. The first can be reasonably predicted, although even here we can get a global recession that will dramatically skew the numbers, but the price of Bitcoin is impossible to predict in such long term with any good confidence.

It's normal to say they get 286 BTC in 2013 because the price at that time wasn't the same as what was the price in 2018. And now that you asked about the price in 2023 the answer that you want to hear is still the same as what you hear today. The BTC range of income might getting smaller as the price in the future might have grown.

Plus, if we will also consider the bitcoin halving, there's surely a decline in the US income for the next years. And there's nothing to worry about, as the supply of bitcoin generated decreases, its market value is considerably increasing since more and more people are starting to gain knowledge of the crypto. Soon, innovations in bitcoin and other crypto will yield to more crypto adoption and it would be surprising if the average US income will surpass what we have in 2019.

You are basically just asking what the price of bitcoin will be in 2023. The average income from now to then should be slightly increased for inflation. So we all will hope that 0.001 btc is the average. ^^ Then we will all be rich beyond our wildest dreams.

It is simple guys. Bitcoin is going to go up in the long run. Sure there will be bear season but thats ok. Look at the historical graph of the price of bitcoin and you will see what I mean. You take a bad hit don't sell hold.
In two years time you will make much more then you would have if you just sold and left it at that. Remember things take time and bitcoin is definitely on of those things.