Anyone who bought coin under $18,000 BTC, will look like a genius soon

[Sowik]

Yeah, we've seen threads like this before. I could see this happening but not anytime soon.

[RamBahadur.Gurung]

OK... So it means that I am one of those intelligent guys. A few months back, when the exchange rates were around $1,000 per coin, my friend gave me a choice. A payment of $100 was pending, and he offered to pay 5% extra if he could make the payment in Bitcoin rather than PayPal. At that time, I didn't knew anything about Bitcoin. But I agreed to his proposal and he paid me BTC0.105. 

[taxmanmt5]

That's probably true but at the same time think how many people could have done the same thing four years ago. People never trust in the upward rise, and people never trust in themselves. There's no doubt that two years down the road the price is going to be higher than it is now even four years there is a point when things are going to change but it's not coming anytime soon.

[webtricks]

Wait till this really starts to go up we will all look like genius.

This thread is mere speculative one hence belongs to 'Speculation' section.
We all are well-aware of Bitcoin potential. It is still in its early adoption phase and hardly known to less than 1% population of the world. Since its prices are directly proportional to its demand, we can expect even six-digits BTC price in future. We can refer increase in BTC prices as 'premium' so this 'premium' gonna swell many-times in future due to its demand where real value (utility) may remain stagnant.

[ydrogios]

Wait till this really starts to go up we will all look like genius.

I love waking up everyday to new all-time highs, but this euphoria is getting pretty tangible. I'm seeing lots of these threads. The last couple posted today predicted a 50 trillion dollar market cap within a year, and prices of up to $60,000. And you are saying that buying anything under $18,000 will make us look like geniuses, so that means you expect much, much higher prices than that. Maybe the time for a nice, fat correction is coming soon.

Given that the world population holds 80 trillion dollars on bank deposits and that only 0.1% uses bitcoin, I assume its market cap will stay around 80 billion, unless large financial institutions decide to join the game for good (but officially they are not so exited about it).

[Carlsen]

To me, I would be glad if the price could stay above 4K.
18K sounds great, but let's not hang your hops too high.
We would need some serious cash flow into bitcoin to complete that goal.
And I doubt that there are enough people out there willing to invest, especially when rumors of a possible bubble occure.

[Haldor]

Bitcoin value can be measured by utility function.
For USD utility decreases as inflation increases and supply increases, because for 1 unit of USD you have less utility (less goods to buy) + plus other macro factors like demand for USD in order to buy bonds, stocks and technology in US.

Let's assume that bitcoin is a global currency with perfect utility (you can buy the same things in bitcoin and in USD or EUR, etc.). We also assume that bitcoin is perfectly fungible and can be divided into eg. 0.000000001. Therefore bitcoin will be a global currency - kind of average of all currencies in the world weighted by international trade balances with extra utility. For example: 30% USD, 30% EUR, 20% CHF, 20% JPY.

In this scenario the only advantage of holding  bitcoin over other currencies is that the utility is higher because we can send and use money (bitcoins) anonymously and globally, but price of bitcoin are likely to be discounted because of lack of safety. Blockchain itself will not be an advantage because Banks will also create own blockchains and decrease costs and time of sending money.

So the future scenario is as follows :
Banks will create own blockchains reducing time and cost of sending money. Therefore utility of bitcoin over fiat currencies will dropped.
Bitcoin will still exists because some people will like to send money anonymously and use it as global currency.

In scenario of perfect utility of bitcoin, the future price of bitcoin will be a function of supply and demand, because this is a global currency we can expect that many fiat currencies holders sell "fiats" to buy bitcoins to have the utility of bitcoin (anonymity, globality) this is the same with gold. But utility of gold is different and probably less than bitcoin nowadays.

Therefore demand for bitcoin will depend on utility - how people value the unique features of bitcoin.

Now, the utility is known but should be higher in the future, on the other hand many people hold enormous amounts of bitocins for for investment purposes and wait to sell them in right time (they do not need so much bitcoin to use it).

So forecasting price of bitcoin is a kind of gambling.
All that matters in terms of future price are :  utility and demand (supply is not a factor because of perfect fungibility).

So if you search for good coin look at utility of coin, maybe Ethereum has more to offer.

[PacePay]

very simple buy now and wait and watch how your dollors triple!!! btw I bought 1.3 btc today:)

Well congratulations for buying 1.3 bitcoins, I hope this will give a lot of profit in coming months, but it’s not that much simple, you have to keep eye on market moment of bitcoin, always look for the factors that effect bitcoin, stay connected with this forum so that you can continually update from the facts about bitcoin because we are here for investors like you.

[el kaka22]

Wait till this really starts to go up we will all look like genius.

I love waking up everyday to new all-time highs, but this euphoria is getting pretty tangible. I'm seeing lots of these threads. The last couple posted today predicted a 50 trillion dollar market cap within a year, and prices of up to $60,000. And you are saying that buying anything under $18,000 will make us look like geniuses, so that means you expect much, much higher prices than that.

Maybe the time for a nice, fat correction is coming soon.

I think a correction is due soon. These prices seem to be a pump by whales. If so, they will be dumping soon. I still think bitcoin is going to keep going up in price overall, but this seems too quick

And I have an idea

That Bitcoin is pumped right now specifically to make people move funds from certain altocoins. If you look at the Litecoin price as of recent, it is almost stuck in a narrow range between 45-46 dollars per coin, though it obviously goes down in bitcoins. This looks pretty strange to me, as though someone deliberately tried to make this coin look very unappealing by, first, sort of freezing its price in dollars, and, then, by making it go down in bitcoins. Personally, if Litecoin went down in dollars, I would most certainly buy more of it, but I can't buy because its price is virtually stuck in that range. But I am ready to wait patiently as much as needed

I think you are right for most parts. As i am sure there are people influencing the market to benefit there agenda. That's what they call whales in crypto trading. When whales sell there coins, they move a large portion and many people will panic sell and follow. So be assured that some smart guys are getting ridiculously richer every year and i know it ain't me

There is another allegedly "side" effect

When Bitcoin goes for a major correction (that is set to happen one day anyway, though we can't know for sure when exactly), altcoins are likely to plunge along with Bitcoin as well, and that will likely be the right moment to buy them up in massive amounts until the dust settles and they rebound strongly to their recent prices. I don't say that the current pumping aims specifically at that, this may just be an unintended effect that a Bitcoin correction would probably cause to happen but that doesn't mean either that we shouldn't grab at the opportunity

There are so many people who are desperately waiting for the dumping of the bitcoins in order to grab some of these precious coins. Majority is of those traders who gave up on their assets in the dumping phases. They are the most pitiful creatures in the crypto trading and market. Yeah, we should not miss any opportunity of grabbing bitcoins.

[avikz]

Wait till this really starts to go up we will all look like genius.

18k USD per bitcoin price is a long term goal and not going to happen anytime soon for sure. I have a target of 10k USD price per bitcoin and I will probably sell out a majority of my bitcoin holding it it reaches that price. My target in another 4-5 years. I believe, bitcoin will reach at least 10K USD by that time. However, 18K USD seems a bit too high.

can you tell us, on which ground you are talking about this price? have you got any particular indication of it happening? I'm sure, 18K USD is not going to happen very easily and will require a huge market cap cumulatively more than the GDP of few countries. So please let us know your thoughts.

[phr0stbyt3]

Soon the only word we use soon bitcoin will be 4000$ soon bitcoin will be 50000$ everything soon. The way you posted it sounds like we are in the future and bitcoin is some 30000$ worth like how it was in past if you bought below 1000$ you will be rich now. Just think about the present the future of bitcoin is no certain it might no exist in future just enjoy some profits now don't just hold forever

[deisik]

In this scenario the only advantage of holding  bitcoin over other currencies is that the utility is higher because we can send and use money (bitcoins) anonymously and globally, but price of bitcoin are likely to be discounted because of lack of safety. Blockchain itself will not be an advantage because Banks will also create own blockchains and decrease costs and time of sending money.

So the future scenario is as follows :
Banks will create own blockchains reducing time and cost of sending money. Therefore utility of bitcoin over fiat currencies will dropped.
Bitcoin will still exists because some people will like to send money anonymously and use it as global currency.

In scenario of perfect utility of bitcoin, the future price of bitcoin will be a function of supply and demand, because this is a global currency we can expect that many fiat currencies holders sell "fiats" to buy bitcoins to have the utility of bitcoin (anonymity, globality) this is the same with gold. But utility of gold is different and probably less than bitcoin nowadays.

Therefore demand for bitcoin will depend on utility - how people value the unique features of bitcoin

So far folks value only one utility of Bitcoin

To wit, that of Bitcoin being a vehicle for wild speculation. Other than that, banks don't need to create private blockchains for sending money since the current system of wireless transfers is pretty efficient already (in terms of costs, at least). Introducing blockchain will only make it more clumsy and cumbersome. Blockchain works good in a trustless network, but banking systems with a Central bank at the top (or in the center) of it is a trusted environment by definition, i.e. all banks trust the local Central bank. Blockchain may make sense in respect to international fiat transfers, but its present owner, the US, won't give up its monopoly on such transfers anyway

[twentix]

I love this post