Bitcoin: $100K in 2021?

[iamTom123]

Harvard academic and bitcoin investor Dennis Porto believes that, given a few years, it will soar far higher than either of those predictions. In an interview with Business Insider UK, Porto explained that the bitcoin price could reach $100,000 per coin in February 2021 if it follows Moore’s Law, one of the so-called “golden rules of digital technology.”

According to Porto, rapidly growing technologies have a doubling time, meaning that their effectiveness doubles within a consistent, repeatable timeframe. Traditionally, Moore’s law has been applied to computing technology, but Porto says that the bitcoin price has thus far followed the trend by more or less doubling every eight months throughout its history.

Assuming bitcoin continues to follow this golden rule in the near-term, Porto anticipates the bitcoin price will extend beyond $100,000 by February 2021. Using the current BTC supply for simplicity’s sake, this would give bitcoin a market cap of about $1.65 trillion. Needless to say, a $100,000 bitcoin price would thrill today’s investors, assuming they have the fortitude to resist the temptation to sell them.

Source here (the full newsarticle).

I am posting a part of this article here because I am sure that many would be excited to hear about this. So there is a basis for the doubling of value for Bitcoin and Mr. Porto refer to it as the Moore's Law. I am sure that many Bitcoin holders would be happy to know that in 2021 the value can be so high. This can embolden people to hold to their coin and to add more Bitcoin to their arsenal. Never give in to the temptation of selling since the present value is just actually the tip of the iceberg.

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[Catswold]

No one knows what exactly will happen in next 4 years but really don't think that bitcoin can hit that huge price in such a short time and even if adoption level goes higher I don't see it achieving that huge amount of $100k in next couple of years.

[BurstIncomeAsset]

Wouldn't doubt at all.

What was the price in 2012? Some dollars, then in 1 yar after the halving the price went above $1000, much above.

If same pattern happens, then the price will go to 100k at least 1 year after the next halving, by the year after next halving

[jerowacik]

It is a very high number. But in my opinion it is not impossible because bitcoin has a sometimes unexpected miracle. It could be a price increase occurs a few if only in a short time. the current price of bitcoin is in 3500USD rates, so we need to increase up to 30 fold price to reach 100KUSD in 2021. All look impossible but it could be true.

[thecodebear]

will be interesting if bitcoin can keep up a doubling rate of 8 months. This year it is doing a lot better than that, if bitcoin can go to $4000 at the end of the month it'll have doubled twice in the past 8 months instead of once! I am somewhat conservatively hoping for ~$40k bitcoin in 2021, but I think it definitely has the potential to hit $80-$100k in 2021.

[DaMut]

in my opinion it's a bit too early for Bitcoin to reach that level,
if it's 10 years from now on or more i am confident it will,
but who knows what will happen ?
let make some guess,today Bitcoin price reach $3400 level and approximately we will see around $4000~$5000 in the end of this year.
after that,we will see declining in the early 2018ish and altcoin pump.
at mid 2018ish another pump will happen and we will see around $5000++ level,continious and repeat.
so,the best rise will happen before halving.so that mean 2020 and the price should be double from initial price.
in conclusion 2021 Bitcoin price should be around $15000~$30000 (if nothing goes wrong).

and by the way,i thought this topic already discussed before right ?

[recklessMe]

I would be glad if this happens. But not sure that the price will reach that high. Still, I’m sure that whatever the price would be, it will be surprising. I mean, some time ago we expected Bitcoin to rise for example to $1000, than it goes $3000. Now it’s 4k. So, pretty sure that in about 5 years Bitcoin price will at least be ten times higher.

[error08]

I really like it: Rapidly growing technologies have a doubling time, meaning that their effectiveness doubles within a consistent, repeatable time frame
Nothing for sure if we're talking about future, but at least a prediction with some theory and calculation is better than just random guess.
Look at bitcoin charts, how much it has been growing in this year? Bitcoin price in the beginning of 2017 was less than $1000 and today is $4457, maybe in the end of this year bitcoin could reach $7000 because segwit will be activated in 4 days, on August 21st > 882 blocks to go https://coin.dance/blocks. And remember about next bitcoin halving on June 2020, which is another milestone.
Consider bitcoin could rise more than 300%-400% per year, so it's not impossible in 2021 bitcoin may reach $100K

[LFC_Bitcoin]

In my head I have approx 1 year after the next halving as my 75% sell off point. $100,000 per bitcoin would make me a very, very happy man. Fingers crossed for ridiculously high prices a few years from now.  

[nethan1btc]

I would be glad if this happens. But not sure that the price will reach that high. Still, I’m sure that whatever the price would be, it will be surprising. I mean, some time ago we expected Bitcoin to rise for example to $1000, than it goes $3000. Now it’s 4k. So, pretty sure that in about 5 years Bitcoin price will at least be ten times higher.

If that will be a reality in the future of 2021 I guess it's a very expensive price of bitcoin history in digital currency. But I agree that we cannot predict the price to reach higher at any certain situations which may happen every time price fluctuations may rise and fall every tick of the clock. So we must expect every situation of bitcoin price to be more surprising everyday, and yet we are here to benefit those profitable chances of long term investments as that $100K is a candidate for that value in the future.

[1Referee]

In my head I have approx 1 year after the next halving as my 75% sell off point. $100,000 per bitcoin would make me a very, very happy man. Fingers crossed for ridiculously high prices a few years from now.  

What's exactly the main point of your focus that you think will justify you cashing out that large of a percentage of your holdings? I personally have my focus pointed at far beyond the coming ten or so years. Sure, cashing out is part of the game if you look to benefit from various wild price swings, but that's only a viable option if you understand how this market works. Nothing guarantees the price to fall back to your targeted buy back levels. Realistically speaking, there is no way we'll be even close to the (in my point of view ridiculous) $100K price levels within the stated time period. But then again, what else can we expect in extremely bullish time periods. I wonder what will be left of these predictions at the time the price is going down again - not much I guess.

[freebutcaged]

The same way Bitcoin raised from $400 upto $4400 it is possible for it to rise 10 times in price since it has already done it over the past 2 years.

But there are some major players such as US and other powerful countries that might feel danger if Bitcoin keeps going up, because it will devalue

Their fiat currencies greatly. at the same time they could be the ones behind the price increase in order to earn billions when price reaches high enough.

I sold 4BTC when price was $3500 and now I'm crying. Bitcoin needs to scale ASAP because there are still so many issues unsolved.

[oegarod]

By 2020 the next halving is expected and during the same time period a bigger adoption and price increase will be experienced. How about reaching such a big value of more than $100k, I never find any specific reason for such a increase. Maybe by that year majority of the people might be aware about bitcoin.

[AngelSky]

The same way Bitcoin raised from $400 upto $4400 it is possible for it to rise 10 times in price since it has already done it over the past 2 years.

But there are some major players such as US and other powerful countries that might feel danger if Bitcoin keeps going up, because it will devalue

Their fiat currencies greatly. at the same time they could be the ones behind the price increase in order to earn billions when price reaches high enough.

I sold 4BTC when price was $3500 and now I'm crying. Bitcoin needs to scale ASAP because there are still so many issues unsolved.

Ya Their are lot of chance for that to happen. Since many said it's not possible to reach the value of 3000$.But it was fullfil by bitcoin.Then they speak about the value of 3500$ and then 4000$.All this was achieved by the bitcoin very easily. So many peak was crossed by bitcoin. This also achieved by bitcoin.

[fabiorem]

100k in 2019.

[richardsNY]

If we were still hovering around the $1000 level, people would likely have pointed at reaching something like $10,000 by that time. While I am extremely bullish on Bitcoin, I honestly can't take such predictions seriously. Ask yourself -- how healthy is a market that gets bumped 10,000% in a matter of 4 years (taking then first of January of this year into consideration)? Sustainable growth should be something that builds itself steadily throughout the years, and not something that peaks big time because of the massive amount of concentrated speculation.

[deisik]

Harvard academic and bitcoin investor Dennis Porto believes that, given a few years, it will soar far higher than either of those predictions. In an interview with Business Insider UK, Porto explained that the bitcoin price could reach $100,000 per coin in February 2021 if it follows Moore’s Law, one of the so-called “golden rules of digital technology.”

According to Porto, rapidly growing technologies have a doubling time, meaning that their effectiveness doubles within a consistent, repeatable timeframe. Traditionally, Moore’s law has been applied to computing technology, but Porto says that the bitcoin price has thus far followed the trend by more or less doubling every eight months throughout its history.

Assuming bitcoin continues to follow this golden rule in the near-term, Porto anticipates the bitcoin price will extend beyond $100,000 by February 2021. Using the current BTC supply for simplicity’s sake, this would give bitcoin a market cap of about $1.65 trillion. Needless to say, a $100,000 bitcoin price would thrill today’s investors, assuming they have the fortitude to resist the temptation to sell them.

Source here (the full newsarticle).

I am posting a part of this article here because I am sure that many would be excited to hear about this. So there is a basis for the doubling of value for Bitcoin and Mr. Porto refer to it as the Moore's Law. I am sure that many Bitcoin holders would be happy to know that in 2021 the value can be so high. This can embolden people to hold to their coin and to add more Bitcoin to their arsenal. Never give in to the temptation of selling since the present value is just actually the tip of the iceberg

Bitcoin may surge high

And as high as 100,000 dollars per coin in fact, but that would have nothing to do with Moore's law. The latter is about technology and technological development, and it had solid grounds for its relevance (until recently, at least). If anything, Bitcoin price rise has to do with explosive adoption but the latter is more about medicine and epidemiology since this is how contagious diseases spread out. Anyway, we have already seen Bitcoin price grow 4 times within mere 8 months so Moore's law has already been massively broken

[Catmony]

100k in 2019.

It will be over optimistic speculation, bitcoin price is still under $5k and expecting 20x increase within 2-3 year time period is really insane. I think price will be anywhere between $10k to $20k by end of next few years.

[Slow death]

How about reaching such a big value of more than $100k, I never find any specific reason for such a increase. Maybe by that year majority of the people might be aware about bitcoin.

In the news they talk about Moore's law.



Every day we have price predictions, everyone wants to become "legends", I think I should also do my prediction, ha ha ha

Let's see how much do i have to say?

$10.000 in 2 years? No, $25000 in 5 years is a realistic price.

So this is my prediction... a pity that I'm not someone famous , because at this time all news channels would be publishing my prediction

[Hazir]

Never give in to the temptation of selling since the present value is just actually the tip of the iceberg.

Thanks for this article, it is somewhat soothing for my nerves that professional economists believe that bitcoin will rise as high so fast.
But I am still afraid that Bitcoin value gain is not simply matter of following Moore's law but basic laws of the economy as well.
It is not like Bitcoin is only viewed as technological game changer, whole economic system is linked to it, any drastic changes (e.g. price spikes, rapid growth)
might cause whole system to collapse or reverse.