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Author Topic: Economist predicts Bitcoin $25,000  (Read 2447 times)
deisik
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February 16, 2017, 08:41:35 AM
 #61

https://finance.yahoo.com/news/why-bitcoin-will-surge-to-25000-142402299.html

Economist predicts Bitcoin $25,000!

Part of the commentary compares it to a bubble, but one that hasn't even started it's run yet.

The best part - read the comments - a lot of ill-informed people commenting. People thinking that China can shut it down, haha.

From what rabbit hat did he get and come up with that number?  If it really does reach 25k USD, then Bitcoin will be the biggest, largest, hugest bubble in the history of trading in the world.  It's just so hard for me to fathom that the whole thing will be that big to support a 25k USD price per coin.  BTC will have to eat up a large part of the fiat market share for that to happen.  That or the darknet has to grow HUGE.  Which I don't think will happen 

You seem to be mistaken on this in general

25k dollars per coin is less than 25 bitcoins right now. If we assume that the number of coins remains basically the same (e.g. the supply of new coins can well be offset by the number of coins leaving circulation for good) to get there the Bitcoin user base should increase only 25 times. Further, if there are only a million active bitcoin users at the moment, we would need only around 25M active users all in all. That's nowhere near eating up even a relevant part of the fiat market. You obviously overlook that Bitcoin is still rather tiny in respect to adoption

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