Hello $2500

[gentlemand]

I wouldn't say $2500 is easily attainable.  That would raise the btc market cap from roughly $6 billion to roughly $30 billion.

If you think $24 billion is easy to come by, well then pm me, I have some bridges for sale.

You know market cap is a virtually irrelevant metric, right?

$24 billion of hard cash being spent on the exchanges would probably push the price well above $10,000 and considerably further.

[1714022772]

1714022772

[1714022772]

1714022772

[inca]

that's way too high.

$2500 is easily attainable.  Not saying it's going to happen in the next month (highly doubtful), but it's very easy to envision that price in the future.

After all, researchers report that bitcoin is going to be the 6th largest reserve currency in the world by 2030.

http://www.cnbc.com/2015/11/03/bitcoin-to-be-6th-largest-reserve-currency-by-2030-research.html

I wouldn't say $2500 is easily attainable.  That would raise the btc market cap from roughly $6 billion to roughly $30 billion.

If you think $24 billion is easy to come by, well then pm me, I have some bridges for sale.

You aren't really stupid enough to think that to buy the price up to 2500 will cost 24 billion are you?

[DiamondCardz]

I don't know. It's possible we could hit $2500 as a new ATH but whether we can sustain that or not is an entirely different story, and personally I don't think that we'd be able to sustain that as a price that high would indicate a ridiculous bubble that would burst very quickly in my opinion.

[n2004al]

Judging from localbitcoins volume (real volume, not back and forth hypertrading), we will soon hit a $2500 mark
http://coin.dance/charts

I don't think that localbitcoins have such big impact at the price of bitcoin. If we see the price there is normally much more more higher than the "official" one given by preev or various important exchanges. It is a price of a kind of black market that cannot be much reliable. Anyhow, the price is going high like a Ferrari in a straight road. Seems that will not stoped. But to arrive 2500 us dollar so soon seems to beauty to be true.

[solid12345]

The main problem with evaluating Bitcoin prices is Bitcoin is nothing like anything seen in history before.

It's not a stock, there was never an IPO or an "opening price" where people magically give it a 200 billion dollar value at the onset (I say rigged *cough( for instance and traders go to work trying to sustain this price or raise it further.

It's not gold or precious metal which has had a international value going back centuries.

It's not fiat currency where central bankers work to maintain a set value and work around it.

People say a parabolic rise is unsustainable, but can we really declare that? What the market is trying to figure out is what is the TRUE value of it and it could take a really long time to figure out or it could happen, really, really fast in a matter of weeks or months.

[MF Doom]

I wouldn't say $2500 is easily attainable.  That would raise the btc market cap from roughly $6 billion to roughly $30 billion.

If you think $24 billion is easy to come by, well then pm me, I have some bridges for sale.

While I'm also sceptical about breaching the 2k mark on this runup, your math does not take hodlers into consideration.

If 50% of the coins would not be sold during the rise, the capital needed is actually "only" $13 billion

I'm not sure if my is correct here as I'm too lazy put some effort in it right now, but heres another example to make my point more clear:

If all of the sudden there wouldnt be any possibility to trade btc any more but local bitcoins and one crazy guy would pay $2.5k for the last available bitcoin, the market cap would rise to 30bn just based on this 2.5k injection.

OK, my math may be off in terms of how much is actually needed to reach that mark, but say the market cap reaches $30 billion, is there actually $30 billion worth of purchasing power?  Until people/businesses can start directly taking btc and not needed to transfer to fiat, then I don't see how the market cap can stay at a level like that.

[Sarthak]

Bitcoin just touched $500 dude... Calm down..
It took us a long time to reach here. We spent months @$200 range. Why do you speculate $2500 so soon? $2500 = 5x the current bitcoin price and 10x the Bitcoin price before 2 weeks. I think we must be a bit more patient and wait. After all, good things come to those who wait

[gentlemand]

OK, my math may be off in terms of how much is actually needed to reach that mark, but say the market cap reaches $30 billion, is there actually $30 billion worth of purchasing power?  Until people/businesses can start directly taking btc and not needed to transfer to fiat, then I don't see how the market cap can stay at a level like that.

Same goes for all markets. How long would gold's market cap last if everyone attempted to sell at once? Apple would sure as shit not be the world's most valuable company if every shareholder decided to divest.

[dothebeats]

Standing at $470 levels. A small drawback and we'll hit the road pretty damn soon!

[Amph]

Standing at $470 levels. A small drawback and we'll hit the road pretty damn soon!

it seems that we are facing a wall right now, the price is not moving anymore, little swings here and there, this could be another top like with the one around the 300-330

not surprised here, i was saing all the time that 500 was another mental barrier

[DiamondCardz]

We did see a draw back before the rally to where we currently are hovering around in all fairness, so it's not out of the question that we could have rallied past this by tomorrow. Right now we're keeping around $460 with some small changes up and down. A lot happening on the market right now though, jesus...

[chesthing]

its had a big surge, one of the biggest

Since when is 2x in a week a big surge? in crypto, a big surge is minimum 5x.

[Gillette]

Judging from localbitcoins volume (real volume, not back and forth hypertrading), we will soon hit a $2500 mark
http://coin.dance/charts

Better dump this shit BTC and buy back your super tech VNL man.

[Mickeyb]

Honestly, it isn't bad at all that we have cooled a but for a moment. Only if we would make a new floor around $400. Then we would have time to re-gather ourselves and to start moving up again.

I just hope that we won't go again to $300. This would be a clear sign of pull and dump and we don't need this.

[MF Doom]

its had a big surge, one of the biggest

Since when is 2x in a week a big surge? in crypto, a big surge is minimum 5x.

This 2x surge is the largest in probably over a year and a half.  I'd say its a "big surge", although looks like we're already heading back down.