Bitcoin Forum

We are all thinking that true mainstream adoption is needed for bitcoin's value to have big price levels but practically those big price levels ALONE will make mainstream adoption happening. Main stream adoption is NOT needed for reaching big values but for having sustaining values.

Now, based on how bitcoin had recovered from the 2018 downfall, it may test $1M levels in less than 18 months given that how intensively mainstream media may keep on inducing FOMO among all types of investors.

I believe bitcoin may test $100k levels before end of 2019. DO NOT ASK me any technical proof. Your FOMO will not obey any mathematical formula. Reach of awareness on the future of bitcoin is purely random hence I am not involving any analysis for this speculation but based on how bitcoin prices had traded in the past and where it is right now.

Already LIBRA, BAKKT and various ETFs are doing enough media things to spread words on cryptos and bitcoins. These (and other related positive news like Wall street listing bitcoin futures etc.) will result in RECURSIVE FOMO which is all, we need. By mid of 2020, we are about to experience another halving which will be the finisher-catalyst to test $1M before end of 2020.

Finally, in my speculation bitcoin may value $1 Billion in next few decades but before that get ready for experiencing many roller-coaster rides.

we need a bigger market, specifically bigger exchanges that are trusted by users enough to leave their money in open orders so that the order books become more packed and result in less big swings due to surges in buys or sells.
how we achieve that can be with regular growth that we have, with better exchanges or with mainstream adoption or dozens of other reasons.

you can't just extrapolate data like that with added exaggeration!
the recovery in 2018 was mainly because bitcoin was undervalued so it needed to jump back up like this. but that doesn't mean we can continue seeing big jumps and it definitely doesn't mean a 33000% rise in less than 2 years!

FOMO has its own power. it is not like it can "pump" bitcoin 3100% in 1 year! the big FOMO only happens during initial reversals like what we had after breaking out of $4k resistance and during the end of the bull market when the bubble is shaping up.

first of all Libra has nothing to do with bitcoin, and it doesn't even mention bitcoin.
but i see the hype too and i agree that this hype has advertised bitcoin a lot specially with all the futures,... listings that eliminated a lot of FUD in the minds of people who were subjected to a lot of them. but i still don't see such as huge rise in such a small amount of time.

now you are just going overboard with exaggeration

libra can create hype though. when the world's biggest companies do something, people pay attention. it doesn't matter that libra is centralized and has nothing to do with bitcoin. its proximity to "cryptocurrency" and "blockchain" while being promoted by the biggest social network in the world is enough to turn average folks onto crypto.

if libra trades on major exchanges, some of the people who came to buy libra will end up leaving with bitcoin.


i could see 7 or even 8 figure valuations. but billions? :D

Do you know what is pushing price of bitcoin up or down? It is a common law of supply and demand, and at this moment people are buying more then selling which is causes price increase. We have witnessed such events in the past and we have a point of reference so we can understand why something happens.

Personally, I have nothing against $1 million per 1BTC, but who will pump almost $18 trillion in bitcoin in next 18 months? Libra is FB project, it has nothing to do with bitcoin, Bakkt is something that has dragged on for too long, they lost lot of trust, and it is very questionable what impact will they have once they become fully operational. Bitcoin ETF is still far from reality, and most of the objective experts agree that they will not be approved soon, probably in next 2-5 years from now.

In best case bitcoin will test $100 000 after next halving, but you should know that after every bull run correction comes, and question is how far back will bring us after next ATH.

I suppose at some point there will be an Eternal September at some point for crypto. At that point fiat goes to legacy and maybe near zero or sort of like post, vs email or some such. That will be the critical mass.

I feel the killer app/device that somehow you can prove is secure and not lose and pass on needs to happen.

https://en.wikipedia.org/wiki/Eternal_September

Of all the possible reasons you listed on why bitcoin would reach $1 million, it was Libra who only initiated this price increase.
I agree that FOMO can make unlike things to be realize and we can't use any TA on that, honestly, that's what I like because I'm kinda bored of holding my other assets which are not improving until now, I'd like to sell them once the FOMO is here, surely, no difference compared to the last bull run, this time might even crazier.

I like that prediction of $1 million, but I don't know if I can still hold at that price, I might do a panic selling once bitcoin reaches $100,000, that's me for now, but might change this depending on the situation.

i guess you are right about the hype. as it can introduce people to the "blockchain technology" and many of them will surely hear about bitcoin as THE coin based on this technology and with it being so much better and also ridiculously profitable it can attract many of them.

regarding trading, i don't think it CAN happen because it is supposed to have a stable price. so it is like wanting to trade PayPal dollar on exchanges!

Nothing wrong with securing some profits every now and then, but make sure you never sell all your coins at once. I honestly wouldn't dare to sell all my coins, not even if the price went up to $1 million.

50% of what I hodl won't ever be touched unless the situation is so severe that I can't do anything but to tap into these funds. I will make sure I save enough fiat so I don't have to tap into my Bitcoin holdings would I need money.

The thing with an asset so scarce as Bitcoin is that it should always have a bias to go up with less and less inflation due to block halvings, where eventually there won't be any inflation at all.

Converting to fiat to cash out will only make you lose if you don't directly reinvest in real estate or a business you set up.

We have more fiat onramps than ever before, more exchanges that are capable of handling 10-100x the current traffic, institutional interest, etc. By the time we hit $1 million we don't even have to cash out to fiat anymore, but just sit on it or spend it. By that time Lightning will be ready to serve the people who genuinely believe that Bitcoin should be spent, the rest will continue sucking on their fiat currencies.

I wonder how the market will react to Bakkt starting its test phase next month. If we don't see the CFTC act as a cock-blocker there isn't anything that will prevent it from going live with its final service.

You naysayers completely miss why the sky is the limit for a bitcoin price:

-There are 36 million millionaires in the world and over 7 billion people.

-After deducting lost coins and those held by huge whales with no need or desire to sell for fiat in the near future, there MIGHT be 10 million bitcoins that are potentially tradeable. The actual amount is probably far lower.

Read the above two points over and over and over again, until it registers in your brain that THERE WILL NOT BE ENOUGH TO GO AROUND ONCE DEMAND TRULY KICKS IN.

If bitcoin price can go up and down many times, I am sure that many of us will take the chance to buy bitcoin at a low price and then they can wait for a while. $1M/BTC will be happening in the future, and many people out there will amaze with what happen to bitcoin price, and they will think that they should buy bitcoin too like us. But when the price can increase in that price, many people who already have bitcoin will become a rich person because they can sell it at any price they want.

Actually our "believe" will not make any difference or changes bitcoin price. That's just our emotions and we live with it. However seems bitcoin on bull run and touch another ATH of 2019. If we look on altcoin market then we will notice most of investors moving on bitcoin, in a result altcoin dumping hard. Since investors moving on bitcoin so we will see good move on bitcoin as well. But I am not expecting 1M at least on 2020.

That won't be true.
The media is manipulated by banks and financial institutions and they act for their own profit. And apart from that, the media doesn't spread FOMO for bitcoin and cryptocurrencies in general but they do the opposite. They spread FUD and try to make people not to spend money on it.

Man, I really don't know. My rational sense tells me 1 million just isn't realistic in whichever scenario I try to think up (and it's really got to be major conditions geo politically I believe). Then again, 10k was a pipedream to all but the most stubborn of Bitcoin maximalists (and McAfees) just a couple of years ago, so I suppose the laws of mathematics can be blind after all.

There's one scenario few people ever think: that 1 million dollars might be worth a lot, lot less than what it is today. If that happens, then sure, we might see million-dollar Bitcoin. And then maybe iPhones might cost $10k;)

We need a large mainstream investor group like Fidelity or Meryll Lynch to allow trading on their own platform. That's starting to happen and if it continues, we will see an exponential growth in Bitcoin prices.

$1 million a Bitcoin would create a market cap of 25 trillion dollars. Where will this much money come from? Well, this money does not need to come from anywhere, its just the few at the end who are willing to pay more which will automatically create this market cap.

HODLER 4Ever!

I think that long before the values of fiat collapse to where an iphone costs $10k, the bitcoin price will hit $1m. The fear of collapse is enough, post collapse 1 btc will be worth multiple millions.
I didn't see this price happening the first half of this year. The price went from $4k to $11k so quickly and effortlessly, that I can actually see $1m price happening inside of the next 6 years. If it happens within the next 2 years I will honestly be surprised, but I won't be shocked.
The world economic picture is in dire straits - the impending debt crisis is real, it's not some made up bs bandied about by tin foil hat wearing Youtube preppers. It's real, and it can't be stopped.

I have to say, it's good to hear such optimistic thoughts, but 1 million for me it's almost impossible, imagine how much money people have to put on BTC to achieve such level?
For me this is the most reason, it's a huge amount of money needed

I think it would take a trillion usd or less incoming spread out over some time for bitcoin to achieve a 17 trillion dollar market cap. If you think it would take $17 trillion incoming to achieve a $17 trillion mkt cap than you have no understanding of how these markets and market caps actually work.

One trillion is about what the US government adds in debt each year. It's about 1/3 of the state of California's GDP. This gives you some perspective on how little this amount actually is in the big picture.

There's no news of official launch yet, but last month Fidelity said (https://www.cnbc.com/2019/05/06/fidelity-is-reportedly-about-to-offer-cryptocurrency-trading-for-pros-within-a-few-weeks.html) they'd be opening their new cryptocurrency platform for institutional investors "in a few weeks." Interestingly, it sounds like they'll be offering spot trading (not futures) although I could be wrong about that. I haven't seen official specs on their markets yet.

O p, there is no way in which Bitcoin market value  will reach $1m in the coming eighteen months as you speculate in your submission above. No miracle of what so ever can make such height happen and not even the main tream news propaganda can make it happen in eighteen months.

I did not put any numbers, you are the one saying I have no understanding, let's not suppose other people thoughts ok?

As I said, FOR ME it's almost impossible, but I wish I'm wrong  ;D

There is a count I wont do now, about how much BTC will be in circulation in 2020 and a possible 1 million price...

1 Bitcoin cant be worth $1 Billion of today's value. Ever. Because there would be way to much energy needed to secure such network.  For sure many many times more then whole earth use today.

The fact that we have 36 million millionaires in the world today does not mean they will ever invest in bitcoin, how much billionares is today in word, what about them? The assumption that the whole world will turn to bitcoin is wrong, and dreams about $1 million per BTC is the distant future - not few years, but decades.


You are fascinated by the usual price increase, but this is nothing which has not happened before in first ten years of bitcoin. Where are you in 2017 when price is go from under $1000 to $20 000? Based on that we should already be close to $1 million, but you forget that after each ATH we have corrections which are up to 90%.

All possible factors need to be considered, not just to look at some of the factors that match you at the given time.

I agree about the numbers, but remember that from those 7 billion, 90% were brainwashed to remain poor for their entire lives. This still give us 700 million people.

From the 36 million millionaires, I would estimate that 90% of them want the world to stay poor, because they profit from it. This would give us 3.6 million millionaires.

Bitcoin is becoming an established trading commodity on Wall Street. JP Morgan says it's going to be a longstanding traditional asset like gold. Meanwhile, price rose from $0.01 to $20K in under a decade.

Why would you think it would take decades to go another 50x given how early we are on any mass adoption trajectory? You must be assuming Bitcoin adoption is going to slow down? On the contrary, I think it will go exponential like an S-curve at some point.

On one hand, people though that going from $400 to $20,000 is impossible, and then Bitcoin did exactly that, but on the other hand Bitcoin can't grow forever, and there's an always looming threat of a massive correction and long-term trend reversal (long-term trend has always been bullish, even during bear markets).

I agree that FOMO sounds like a more probable mechanism for reaching $1M than adoption, because adoption will take time. If everyone will get onboard in one crazy rally - Wall Street, banks, hedge funds, millionaires and billionaires, then $1M can be briefly reached, but how likely is that?

You seem pretty clueless.
Ok, maybe you're right - when bitcoin takes off once again, I'm sure that the 36 million millionaires will just sit around again and think to themselves "not touching this stupid shit."
At some point, it will be clear to all but the most dimwitted that owning a whole bitcoin is a big deal. And there isn't enough to go around, there's no way for all of those millionaires to do that - not even remotely close.

Let me help you with another thing - see, YOU see that bitcoin suffered a huge drop from 2017 peak. The only thing I look at is this: Bitcoin went from hundreds to thousands over the last several years. I don't gaf about the peaks and valleys, that's just details. Before that, it went from pennies to dollars.
Guess where it goes next?

The one thing that is correct in this is the fact that FOMO has no technical analysis. You may check out any chart you want in the whole world but if people are all of a sudden feeling like bitcoin will go up then it will go up because the market works that way and prices do not go up because chart says so, sometimes chart says so and people react to it but that doesn't have to happen, its all deregulated decentralized currency so whatever people think will happen usually ends up as the result.

However, 1 million dollars is way too much for now, we would need a lot more money input and a lot less people selling however the more price goes up the more people end up selling their currencies to get more cash for living, profit realization is the enemy during that road.

So you think about bitcoin same as John McAfe? What's your speculation, when price of 1 BTC will be $1 million? Are you talking about those same JPM and Jamie Dimon who say back in 2017 :


I would only quote what Anthony Pompliano say "Never listen to what a bank says.", but this is a general known thing.

https://cryptoslate.com/jpmorgan-finally-admits-bitcoin-has-value-here-is-how-they-measure-it/

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I'm glad that there is someone in the forum who is not clueless about bitcoin future.

I am not say that that I am right, or that you are completely wrong, but only that we can we can not know what will one millionaire or 36 million of them
do when it comes to bitcoin. We all know that bitcoin is pretty volatile, and you also need to consider the issue of security - to be a millionaire, does not necessarily mean to be smart, and cryptocurrency still requires a bit more use of the brain compared to the fiat.

Maybe they will start invest in bitcoin when first ETF gets approval, this would simplify the situation for buying / selling with additional asset security. Most experts say that this can be a trigger for a great price increase, the only problem is that no one can predict when the first ETF will be approved.

We might want to stop thinking about that large amount of value of bitcoin in a year or 2.

There is this bad trendy thing that is ongoing outside this forum.
One is that bitcoin price is being pushed up so that crypto currencies will be seen by a large amount of people. Why?!
Libra. People will be introduced to bitcoin for starters and then there will be no difficult time to understand Libra afterwards.

Now, if that happens. A big dump will come again. They will take their money back in exchange for investing in another populated token.
That is why it is a scary market now.

It's inherently unpredictable. I'm not silly enough to say $1 million within a couple years like him. All I know is, it's crazy to be as confident as you are that price won't continue its exponential rise in the next several years. You seem to have little respect for history.

I also see the potential for Bitcoin to experience an adoption curve like major prevalent technologies like refrigerators, telephones, TV, internet. If that happens, the extreme scarcity of the Bitcoin supply will drive prices up even faster than past bubble cycles, due to an exponential increase in users.

Nobody gaf about this libra coin fucking bullshit.

So you say it will not happen "within a couple years" because that is "silly", but in the same time you not agree with speculation that it will take perhaps a decade or more to bitcoin reach to value of $1 million?

I have respect to history, and I know how price is go up and then go down every time, and based on that I expect similar events in future. It is possible that some changes will occur, in the sense that volatility will become less then now, and demand for bitcoin will go up. It take 10 years from 0 to today $11k, how much time will be needed for $1 million? I am not prophet to predict future, it would be nice that this happens in next 5-6 years - but personally I think it will take a little longer than that. Although I have no objection to being completely wrong ;)

You sound like linear whereas bitcoin grows in exponential. Another 10 years is not required to scale same amount of growth. Awareness about the future of bitcoin is the thing here which definitely is not happening in any pattern but known to be happening in rapid random sequences.

We are talking about trillions upon trillions in market cap and to reach there we may not need worlds biggest banks all collectively putting all their investments to bitcoin. Yes, the marketcap is just an indicator and there is no actual backup equivalent to marketcap for any market. We all just need funds which will be capable of driving to those peak levels.

Then what will happen after reaching peak levels ? Market may fall down back to 35% to 28 % and then it will start slowly growing back to  same peak levels with decent volume as that time obviously more people will join into bitcoin ecosystem for various reasons. This is how bitcoin had reached $1200 and then $19,800 levels and this time may reach $100k or $500k or $1000k based on how wildly FOMO will take off.

$100k? Where will be all the money will come to push the price to that level?


I think we better set our feet on the ground first. Although I believed that halving could be a catalyst, but I don't think it will be enough to push the price to $1m. Yes, institutional money is flowing, but it doesn't mean that they will exit and book their profits. Probably another all-time-high in 2020, but I doubt that we can even see getting to 6 digits, sorry to burst the bubble for you.

look what happened when the price reached $ 13900

https://i.imgur.com/iVm0h9U.png

it immediately fell a lot, this proves that it will not be so simple to see prices of $ 15000, and as you already know that for the price to increase, there must be many buyers willing to buy . the question you should ask yourself and: who will buy with the price of 1M? Who's going to buy it for $ 100,000? Do you think there will be a lot of demand if the price is 1M or $ 100,000?


it's impossible


but this will not be enough for the price to reach $ 100,000 this year