The correction is going to be epic, 2025 ~ 1M and other predictions.

[Hyperme.sh]

Bitcoin is going much higher over the long-term, but there will likely be another Mt. Gox severity crash (perhaps not in November though, maybe early 2018), and I already provided a link to my thread which explains what that crisis could possibly be.

"corrections" are never big or epic or anything, they are always logical and properly sized.

Mt. Gox.

Will it happen again?

Mt. Gox had 75% of trading volume I think.

So if it happens again it can’t be an exchange. Has to be something else which is centralized.

Discussion continued.

Also this from James A. Donald, the first person who communicated with Satoshi on the mailing list where Bitcoin was announced:

A bad time to invest in Bitcoin
October 8th, 2017

Back in 2013 I urged people to invest in Bitcoin.

Yesterday someone asked my cleaning lady to invest in Bitcoin.

Now if someone had asked her to accept payment in Bitcoin, or send payment in Bitcoin, then this would be compelling evidence that one should invest in Bitcoin.

But when cleaning ladies are asked to invest in Bitcoin, not a good investment.

When Bitcoin began, everyone was a miner, and everyone was a peer, everyone stored the entire blockchain. Which was great, but did not scale. And now people are struggling with half assed ideas about how to get it to scale.  Bitcoin can no longer deliver on its original promises, has not figured out what new promises to make, and many of the new promises are unworkable, or are scams, or are likely to turn into scams.

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[Clairvoyance]

Btc often falls much faster than it rises, though it obviously rises orders of magnitude over time, but the correction....20% ~ 30 % in 20 mins then a dead cat bounce.....

feels like earlier years where a 20% rise was normal in btc crypto land.

4~5 years .... 100K.

7~9 years .... $1M.

though $1M in 7~9 years will only have $500K buying power in today's $$$

I also wonder....how many BTC are going to be left for sale. I mean each time the market moves up, and drops....it must shake out a large proportion of people who are going to sell.

Then as it moves up to a new high it educates the remainder to not sell out if it drops.

Just Hold.

This is perhaps like a doubly or triple reinforcing process that is going to select perhaps geometrically for actors that do not sell, or less much lesser proportions of their holdings. This would indicate supply is going to really go down over time, further pushing up cost.

Nice speculation. Though $1M mark is way too far and out of sight today. I do hope one day it reach $1M. Things are going smooth today so I'll expect some FUD will be thrown at bitcoin again.

[Omega Weapon]

was anyone else expecting the movements to reduce in magnitude as the price got higher? i know things are going slower in general, but it can still add or lose 10-20% in a day which is surprising to me.

and yep. the amount of sellers must be dwindling every time.

I do not think anyone was expecting the price to stabilize when the market went up since the reasons for the instability are still there, one are the whales even if bitcoin has gotten more valuable whales still have the same amount of bitcoin and I could argue they are getting bigger so they can move the market as they please and the second is the untapped potential that bitcoin has, even at these prices more than 99% of the population do not have bitcoin yet and if that changes that is going to inflate the price.

[Febo]

I personally doubt BTC will go much beyond USD 100k,- but that's only because I honestly can not fathom BTC reaching the estimated market cap of all the gold in the world. Then again I love being positively surprised.

I am pretty positive that will happen. And $100k of today's purchasing power.  We will also see a $1 million BTC. Maybe 2025 is a bit to early for that.

lol inflation.

Let me rephrase my prior statement: "I personally doubt BTC will go much beyond USD 100k,- of today's purchasing power."

Given enough inflation USD 1 million BTC is of course a possibility. Heck, why not USD 10 million. I still prefer BTC growing due to its own merits and not due to the faults of fiat currencies though

I totally understood what you said and let me rephrase my answer to you. "I am pretty positive that will happen. And $100k of today's purchasing power."    Hm nothing to rephrase just I am sure Bitcoin will go over $100k of today's purchasing power. 

Hard to understand there was a misunderstanding

[fabiorem]

We will go to $7000 then back to $5000, this before the B2X fork. After that we maybe reach 10k by the end of the year.

Sidelined would be more healthy, but it is fucking boring. Rollercoasters are more exciting, and the more we go up, the higher will be the difference between ups and downs. Like when we reach 10k, floor be will be 7k, and when we reach 20k, floor will be 10k.

[Omega Weapon]

BTC fell from $1200 to $200.. the corrections are super intense.. To say otherwise is just foolish.

Can bitcoin go down, of course but to think it can go down that much that fast is to ignore the fact that a lot of things have happened since then, no exchange is as big to cause that fall so if you want something else to cause that fall the only thing that comes to me is mining, it is the only thing that is as centralized as it was Mt Gox back in the day, but how can the miners crash the price in that way? I do not know.