Road to $10,000 How Bitcoin Price Broke $3,000 and What’s Ahead

[josep]

Bitcoin price continued in its upward movement by conquering the $3,000 mark. This happened just days after the cryptocurrency was forked and Bitcoin Cash emerged.

Bitcoin is the first and always leading cryptocurrency. According to Kumar Gaurav, Founder of Cashaa - Auxesis Group, it had the longest time to successfully establish and mature when compared to any other cryptocurrency.

This success cannot only be seen in the continuous growth over the past years but also in the speed of recovery after so-called “crisis.” The fork has eventually turned out in favor of Bitcoin, with investors dumping Bitcoin Cash, buying more Bitcoin and altcoins, with almost all top 100 cryptocurrencies gaining massively.

Other reasons outlined by Gaurav for his positive outlook towards Bitcoin include the fact that more institutional money is going into Bitcoin, with the price increase in itself attracting more investors.

He tells Cointelegraph:
“There is increasing legal recognition, increasing media attention, a growing usability and acceptance, while the original, political reasons leading to Bitcoin's popularity are strong as ever. Most recently the EU announcing the possibility for it to freeze bank accounts to prevent banks from failing, reminding of what caused the first ever Bitcoin rally, the Cyprus savings raid.”

Bitcoin will be $10,000 in three years
Gaurav continues by noting that when looking at what Bitcoin has already become during its early years, despite having only a tiny fraction of the population alone supporting it for just some of its many advantages, most important of which is the freedom it brings to people in any troubled system, then we can only imagine how big of an impact we are starting to see now with established institutions and mainstream media finally embracing it.

He also notes that over the past years, Bitcoin price can be seen as a parabolic curve, which sooner or later will take it to over $10,000 in the next three years.

Bitcoin is not controlled by anybody
Another strong believer in Bitcoin, Simon Dixon, CEO BnkToTheFuture.com, emphasizes that Bitcoin is the only cryptocurrency in the world that is not controlled by anybody, is secured by the largest network of computer power in the world and has a sound monetary policy.

Dixon explains to Cointelegraph that Bitcoin has faced many challenges the latest of which was scaling. He notes that because nobody controls Bitcoin, it took three years of debate to reach the next phase for scaling solutions given the huge increase in demand over the years.

Now with more scaling, Bitcoin can fill the huge demand that it is receiving as more and more use cases emerge and large pockets of money enter the market.

Dixon also notes that Bitcoin will definitely encounter more challenges in the course of its development as the community works to improve scalability further, solve more privacy problems and other features the community feel is important.

There is an increasing demand for Bitcoin
About the rally in Bitcoin price, Dixon says that we are pushing past $3,000 as it has been proven that Bitcoin truly is controlled by nobody. No matter how hard people try, the money supply is being sucked up by higher and higher demand as Bitcoin becomes more and more useful.
He also says:
“I remain bullish as alternatives to Bitcoin keep adding value to Bitcoin and proving there is only one store of value in the crypto market. At the end of the day, people speculate and invest in alternatives, but there is only Bitcoin that they run to as a store of value to lock in any profits or losses they make from alternatives.”

Dixon concludes by noting that central banks and governments will soon realize that holding Bitcoin on their balance sheet could be a wise move as financial institutions are realizing today. They will also create their alternatives to compete, but they will all be controlled, centralized and follow a similar monetary policy as traditional fiat money, providing more value to Bitcoin.
“This type of financial innovation will only happen once in many people's life time,” he says.

Bitcoin is robust and diversified
For Michael Vogel, CEO of Netcoins, ignoring market hysteria and looking just at the fundamentals of what Bitcoin is clarifies its value proposition.
Vogel describes Bitcoin as a very robust and diversified cryptocurrency. He notes that the fact that Bitcoin has a variety of use cases which include remittances, online payments, store of value, Blockchain applications etc., makes it clear that Bitcoin is not a one-trick pony.
Coupled with the free marketing and publicity that Bitcoin receives in the mainstream media (even if mainstream publicity is negative, it still contributes to Bitcoin awareness), and it is clear that Bitcoin is the gold-standard in cryptocurrency.

$3,700 is in sight
Vogel likens the development of Bitcoin to how the internet fared in its early years. Vogel notes that even the Internet itself has gone through its own scaling challenges beginning from the days of dial-up Internet.

He concludes by predicting even a higher price rally for the cryptocurrency in the near future:
“Now that the Bitcoin civil war is over, I think we'll see a rapid influx of investors that had sold off in July rushing back into the market. Goldman Sachs has predicted that Bitcoin is headed for $3,700, and it seems we're well on the way there.”

[tyuner4]

Nice read, it will be great to see bitcoin at $10,000. I remember reading about Bitcoin will be $50,000.

[aardvark15]

Bitcoin price continued in its upward movement by conquering the $3,000 mark. This happened just days after the cryptocurrency was forked and Bitcoin Cash emerged.

Bitcoin is the first and always leading cryptocurrency. According to Kumar Gaurav, Founder of Cashaa - Auxesis Group, it had the longest time to successfully establish and mature when compared to any other cryptocurrency.

This success cannot only be seen in the continuous growth over the past years but also in the speed of recovery after so-called “crisis.” The fork has eventually turned out in favor of Bitcoin, with investors dumping Bitcoin Cash, buying more Bitcoin and altcoins, with almost all top 100 cryptocurrencies gaining massively.

Other reasons outlined by Gaurav for his positive outlook towards Bitcoin include the fact that more institutional money is going into Bitcoin, with the price increase in itself attracting more investors.

He tells Cointelegraph:
“There is increasing legal recognition, increasing media attention, a growing usability and acceptance, while the original, political reasons leading to Bitcoin's popularity are strong as ever. Most recently the EU announcing the possibility for it to freeze bank accounts to prevent banks from failing, reminding of what caused the first ever Bitcoin rally, the Cyprus savings raid.”

Bitcoin will be $10,000 in three years
Gaurav continues by noting that when looking at what Bitcoin has already become during its early years, despite having only a tiny fraction of the population alone supporting it for just some of its many advantages, most important of which is the freedom it brings to people in any troubled system, then we can only imagine how big of an impact we are starting to see now with established institutions and mainstream media finally embracing it.

He also notes that over the past years, Bitcoin price can be seen as a parabolic curve, which sooner or later will take it to over $10,000 in the next three years.

Bitcoin is not controlled by anybody
Another strong believer in Bitcoin, Simon Dixon, CEO BnkToTheFuture.com, emphasizes that Bitcoin is the only cryptocurrency in the world that is not controlled by anybody, is secured by the largest network of computer power in the world and has a sound monetary policy.

Dixon explains to Cointelegraph that Bitcoin has faced many challenges the latest of which was scaling. He notes that because nobody controls Bitcoin, it took three years of debate to reach the next phase for scaling solutions given the huge increase in demand over the years.

Now with more scaling, Bitcoin can fill the huge demand that it is receiving as more and more use cases emerge and large pockets of money enter the market.

Dixon also notes that Bitcoin will definitely encounter more challenges in the course of its development as the community works to improve scalability further, solve more privacy problems and other features the community feel is important.

There is an increasing demand for Bitcoin
About the rally in Bitcoin price, Dixon says that we are pushing past $3,000 as it has been proven that Bitcoin truly is controlled by nobody. No matter how hard people try, the money supply is being sucked up by higher and higher demand as Bitcoin becomes more and more useful.
He also says:
“I remain bullish as alternatives to Bitcoin keep adding value to Bitcoin and proving there is only one store of value in the crypto market. At the end of the day, people speculate and invest in alternatives, but there is only Bitcoin that they run to as a store of value to lock in any profits or losses they make from alternatives.”

Dixon concludes by noting that central banks and governments will soon realize that holding Bitcoin on their balance sheet could be a wise move as financial institutions are realizing today. They will also create their alternatives to compete, but they will all be controlled, centralized and follow a similar monetary policy as traditional fiat money, providing more value to Bitcoin.
“This type of financial innovation will only happen once in many people's life time,” he says.

Bitcoin is robust and diversified
For Michael Vogel, CEO of Netcoins, ignoring market hysteria and looking just at the fundamentals of what Bitcoin is clarifies its value proposition.
Vogel describes Bitcoin as a very robust and diversified cryptocurrency. He notes that the fact that Bitcoin has a variety of use cases which include remittances, online payments, store of value, Blockchain applications etc., makes it clear that Bitcoin is not a one-trick pony.
Coupled with the free marketing and publicity that Bitcoin receives in the mainstream media (even if mainstream publicity is negative, it still contributes to Bitcoin awareness), and it is clear that Bitcoin is the gold-standard in cryptocurrency.

$3,700 is in sight
Vogel likens the development of Bitcoin to how the internet fared in its early years. Vogel notes that even the Internet itself has gone through its own scaling challenges beginning from the days of dial-up Internet.

He concludes by predicting even a higher price rally for the cryptocurrency in the near future:
“Now that the Bitcoin civil war is over, I think we'll see a rapid influx of investors that had sold off in July rushing back into the market. Goldman Sachs has predicted that Bitcoin is headed for $3,700, and it seems we're well on the way there.”

The thing that seems to me to be the best comment from the article is that he states that more institutional money is going into Bitcoin which is drawing in new investors. It's one thing to gain interest from individuals but you can go to a different level if companies start to use it or invest in it.

Those are all positive signs that Bitcoin should have a bright future. It's going to become a solid investment in the coming years.

[nkmt]

Back in 2013 a friend of mine said that BTC will rise to $10000 in a couple of years. I was doubtful at the time.
Now I'm far more convinced that he'll be right.

[DaMut]

Back in 2013 a friend of mine said that BTC will rise to $10000 in a couple of years. I was doubtful at the time.
Now I'm far more convinced that he'll be right.

Someone said we can see $5000 the end of the year or next year,Someone said we can see $10,000 in a couple of years and other speculation.
No matter what will happen in the next year or couple years later,just remember this alone :
'Bitcoin price will always increase in the value even if something happen in the cryptoworld or real world,and it will always survive and always be back'
So,don't think about it too much because nothing good will happen if you do this (a lot of wrinkles on your face absolutely).
just follow the flow and treasure it well and you will profited from it

[JorisK]

Back in 2013 a friend of mine said that BTC will rise to $10000 in a couple of years. I was doubtful at the time.
Now I'm far more convinced that he'll be right.

Someone said we can see $5000 the end of the year or next year,Someone said we can see $10,000 in a couple of years and other speculation.
No matter what will happen in the next year or couple years later,just remember this alone :
'Bitcoin price will always increase in the value even if something happen in the cryptoworld or real world,and it will always survive and always be back'
So,don't think about it too much because nothing good will happen if you do this (a lot of wrinkles on your face absolutely).
just follow the flow and treasure it well and you will profited from it

If we don't get too much trouble from people like Roger Ver and Jihan Wu, i expect the coin to be 100K in 10 years for sure.

[dashingriddler]

I have seen it close to $3333 today.
So having slights on $5000 by the end of the year is not out of ordinary to think.

But $10,000?

That is being a little bit too ambitious.

Atleast to me wouldn't you say?  

[pearlmen]

It has been a long ride to where we are today and its obvious the future is brighter and clearer than where we have been coming from. However, the future might not come without its challenges because even me and every other person do not expect the $10000 mark crossed without some challenges I would be afraid if everything just go that trend without some fall backs and crashes along the way. So brace up people for the challenges ahead.

[zoomzoom]

“I remain bullish as alternatives to Bitcoin keep adding value to Bitcoin and proving there is only one store of value in the crypto market. At the end of the day, people speculate and invest in alternatives, but there is only Bitcoin that they run to as a store of value to lock in any profits or losses they make from alternatives.” - very good point, and it's easier to safely store value from other cryptos in the main crypto than say in fiat or gold.
Was very suprised to see such huge price increases today, really great things ahead for all cryptos

[Hazir]

Someone said we can see $5000 the end of the year or next year,Someone said we can see $10,000 in a couple of years and other speculation.
No matter what will happen in the next year or couple years later,just remember this alone :
'Bitcoin price will always increase in the value even if something happen in the cryptoworld or real world,and it will always survive and always be back'
So,don't think about it too much because nothing good will happen if you do this (a lot of wrinkles on your face absolutely).
just follow the flow and treasure it well and you will profited from it

It doesn't really matter when we will see another ATH, what we need to remember is fact that bitcoin revolution is in motion and adoption is growing.
This fact will cause Bitcoin's price to grow, and eventually, we will cross $3000 (already done!), $4000 and $10,000.
I'm fully confident that if we wouldn't have this pathetic split for BTC and BCC then the price of Bitcoin would be much higher ATM.

[virtualdn]

$10,000 is nothing. Bitcoin is on the road to $50,000 ... patience bitcoiners patience....

[minime]

welcome to the lala land 
https://www.youtube.com/watch?v=0_YUjXHGsoU

[Thekool1s]

Bitcoin's price will keep increasing as there will be only 21 million coins, also the internet is reaching more and more people by each day, if i am not wrong there are around 2 billion people who are not connected to the internet, so the price potential to increase is still a lot. Also Bitcoin is still in the early adopters stage imo. Bright future ahead for the Bitcoin if something more revolutionary doesn't takes over it, but I don't see that happening any time soon.

[thecodebear]

I had just read that article. I kinda laughed at the "bitcoin will reach $10k in the next 3 years" part. I mean, that's about the least daring prediction you can make. I'd say it is all but guaranteed to be over $10k in three years. There's a decent chance it hits $10k next year, so within the next year and a half. Three years from now the more interesting bet is will it hit $20k? August 2020: $20k, I think thats a good guess.

[NorrisK]

Back in 2013 a friend of mine said that BTC will rise to $10000 in a couple of years. I was doubtful at the time.
Now I'm far more convinced that he'll be right.

2013 was a bit to early for those numbers, but I remember all the dreaming about it becoming even 200,000 or more.

10,000 is looking to become a reality sooner rather than later. More and more people are trying to understand more about it before buying in. There is a good time coming I think.

[HabBear]

Bitcoin is not controlled by anybody
Another strong believer in Bitcoin, Simon Dixon, CEO BnkToTheFuture.com, emphasizes that Bitcoin is the only cryptocurrency in the world that is not controlled by anybody, is secured by the largest network of computer power in the world and has a sound monetary policy.

Dixon explains to Cointelegraph that Bitcoin has faced many challenges the latest of which was scaling. He notes that because nobody controls Bitcoin, it took three years of debate to reach the next phase for scaling solutions given the huge increase in demand over the years.

Try to convince wallet holders of BTC-e that no one controls Bitcoin. They just lost access to their accounts due to the seizure of the US government. BTC-e does not conduct business in the US, isn't owned by an American, and generally has no proximity to anything considered within jurisdiction control of the US.

It's quite safe to say that Bitcoin can be controlled. And I wonder and fear how this may play out in the future, particularly if Bitcoin increases in value to $10,000 and beyond.

[avikz]

I would love to see bitcoin at 10000 USD because probably by that time, I will be a millionaire. I have been saving bitcoin since it was standing at 450 USd only and I have come a long way now. I have been trading since long and earning a good amount of profit.

Unlike others, I din't invest my bitcoins in any other cloud mining or any other websites. I just trade and save bitcoin from the profits I make. But saving bitcoin is also an investment for sure. I am sure that is not going to happen very soon but one day bitcoin will break 10k USD barrier as well.

[batang_bitcoin]

Nice  analysis there mate and everyone seems to be optimistic when it comes to the pricing of bitcoin. Before I was satisfied if bitcoin is just about to hit $1,000 and won't move anymore but we are here. The price of bitcoin is getting higher and higher $5,000 for the end of the year and $10,000 will be the next reaching price.

[Febo]

Nice  analysis there mate and everyone seems to be optimistic when it comes to the pricing of bitcoin. Before I was satisfied if bitcoin is just about to hit $1,000 and won't move anymore but we are here. The price of bitcoin is getting higher and higher $5,000 for the end of the year and $10,000 will be the next reaching price.

All this people bought at $2000+ , so how could they be satisfied with $1000.

In general price can be 5k or 10k in a week in a month or in a year.   But I think we used quite some fuel so far. But since recharging was over two long years 2014 and 2015 could be some more fuel left.

[gentlemand]

“Now that the Bitcoin civil war is over, I think we'll see a rapid influx of investors that had sold off in July rushing back into the market. Goldman Sachs has predicted that Bitcoin is headed for $3,700, and it seems we're well on the way there.”

It isn't yet. Let's see what happens with 2X in November and Bitcoin Cash between now and then before declaring the end of hostilities. When all of that truly is cleared up and the innovations start arriving we might well reach some eye watering price levels.