Bitcoin for $1 Million !!! In ten years?

[carlfebz2]

Chart from 2014, when Bitcoin was $300, predicted price of $10k for today — Nov 22nd, 2017.  

We're at $8,200.  (If we add Bitcoin Cash and Gold prices, we'll get close to $10k).

Next milestone on chart: $100k in summer 2021.   And next: $1M in 2027.

Technical analysis been used on keep tracking on the possible price of bitcoin in future years but seeing on this chart its impossible $1M price? that thing do only happen on our dreams. 10 years time is just too short I would rather believe that this would be a 100 year speculation. We even hardly reach $20k price how much more on million matters.Its just exaggerated assumptions.

[Altas]

Let us not clump bitcoin cash and bitcoin gold together with bitcoin, they have no bearing on each oher, bitcoin will hit $10k soon enough on it's own.

There is nothing required to make a correlation. It all happens with regards to time. We have got the forks of bitcoin show good growth over the past few days. Also ten years is more than enough to experience a much large scale growth in comparison with the other currencies available.

[teilwalL05]

Let us not clump bitcoin cash and bitcoin gold together with bitcoin, they have no bearing on each oher, bitcoin will hit $10k soon enough on it's own.

There is nothing required to make a correlation. It all happens with regards to time. We have got the forks of bitcoin show good growth over the past few days. Also ten years is more than enough to experience a much large scale growth in comparison with the other currencies available.

Yup! and I think that year cap in the Chart was not really accurate but even so the progress in the value of bitcoin will  be unstoppable, you can sure use it as a guide in what value bitcoin have now and we can not predict on how much bitcoin will be after 10 years but the sure thing that we know about bitcoin was the fluctuation right now are so overwhelming that it is hard to speculate when the bubble can occur.

[Kyraishi]

Yeah, if you look at it logarithmically bitcoin's jumps in price actually makes a lot more sense. It is simply following the norm right now. I think that 10 years, 1 million is definitely possible, but i would not say that there is a high chance.

The main catalyst here would be a fiat collapse or a financial meltdown.

That would make people turn to BTC which in turn will drive prices up for bitcoin. But if fiat stays put for another decade i don't see that much of a growth for BTC just yet.

[TagaMungkahi]

This is too much of prediction, I don't we can get to that point. However we should at least take it on hyping it up , we should be realistic here and on what is happening right now, I don't BTC can get to that point, we have FUD persons, big businesses, big Governments who will probably let that happen

[DrGuns4Hands]

Bitcoin is increasing yes but lets not forgot the fact that $1 million in ten years is too much and overrated. I would say that having bitcoin in a million in ten years is possible but i think it has a low probability that it's gonna happen, well maybe $400k or something in ten years is possible but it's only a prediction.

[bitcoin31]

That price is very high and I think it is impossible to happen. Because if you have only 1 bitcoinn you will have 1 million dollars and that's very unrealistic. Even you wait few decades it will not happen for sure. Even 100k dollars is less percentage to happen. It's better the target price of the bitcoin will be 10k dollars before end of this year 2017 before the you think that.

[sicparvismagna]

I can't imagine the government or the central bank of your country would even stay quiet if the prices jump blast to 100,000 USD man it would get them thinking we need to do something about these like how can they imposed controls, regulations, controls, or worst tax man everything about them is money getting the money out of their people when the reason they were established was for the people not by some selected personnel.

[Denker]

Honestly I don't think this will ever happen or that I'll ever think it will happen, no amount of graphs or technical analysis will convince me otherwise. It just seems like far too much to me. Even on the day it happens I'm not sure that I'll believe it.

Then you know not really much about economics, the potential of extremely disruptive technologies or how much money is out there in these global markets.
$1million for Bitcoin is possible. However we could argue about the timeframe to reach that high number.

[BUK2016]

Chart from 2014, when Bitcoin was $300, predicted price of $10k for today — Nov 22nd, 2017.  

We're at $8,200.  (If we add Bitcoin Cash and Gold prices, we'll get close to $10k).

Next milestone on chart: $100k in summer 2021.   And next: $1M in 2027.

Bitcoin reaching $1 million by 2027 is over speculated as for me such a height in value might not be reach as speculated though. But believe bitcoin will continue to increase in value though not to the turn of One million by 2027 as Op rightly quote the speculation or as speculated by Op.

[cuteman]

Impossible in that short time!  That is what i can say.  It needs a huge capitalization. I think it would be at $50k ranges.  I believe $1M bitcoin is insane

Bitcoin has grown 30000+ times from its inception in 8 years from $ 0.1 in 2009 to $ 8000+ in 2017. Lets us think that it grows at only 0.5–1% of 30000 times, (150x-300x) in next 10 years due multiple factors, bitcoin shall be anywhere in the range 500K to 1M. Imagine if it were to grow 10% of 30000x, i.e. 3000x , it will be $10M per bit coin in 10 years.

We may laugh i am sure…in 2009 people would have laughed too.

 

[cuteman]

Many analitics predict such price, maybe not in 10 but in 20 yares,  for example:

Hedge fund manager Mark Yusko forecasts that the bitcoin price has the potential to reach $1 million over the long term as the network effect leads increasing numbers of investors to use it as a store of value in place of traditional commodities such as precious metals.
Yusko, who founded Morgan Creek Capital Management and serves as the firm’s chief investment officer, is noted for his bearish outlook on the stock market.

Famouse John McAfee claims that 1 Bitcoin will be worth $500,000 in three years time.

[cuteman]

$1 million in current buying power is indeed pretty silly.

VERY few thought 5 years ago that Bitcoin would cost 8000$ 

[cuteman]

bitcoin though 100,000$ by 2021 is possible to reach but im not sure if it can go until 1million$?

Many Bitcoins will be lost on the way  -  due to:

- forgot or lost passwords/private keys/phrases
- holders who died and did not leave access for their relatives
- holders who died i car/plane accidents
etc.etc.

This means BTC scarcity will steadily increase.

My friend bought 5 Bitcoins a few years ago, just for fun, and forgot about them untill this year,  but this year he is not able to recall where he was holding them  

[cuteman]

We're at $8,200.  (If we add Bitcoin Cash and Gold prices, we'll get close to $10k).

you shouldn't add those ever. if you want to add price of other tokens/markets then you have to add the price of all of the altcoins! because they are separate markets no matter what their names are, they may be affected by bitcoin but they will still remain separate.

BCH and BTG are bitcoin forks, that is why can be added.   But in fact Litecoin was also a BTC fork once...

[cuteman]

The main catalyst here would be a fiat collapse or a financial meltdown.

I would not bet on a fiat collapse. Many people were talking about it since 2008 crisis, but it has not happened.  In fact a lot of people's money are just burning during crisis - in bank/fund/stock bankrupcies.   There is not hiperinflation in most countries though money are printing.
People are just becoming poorer each year.

[ivrynx]

Theoretically, this is possible in the event there are only a few coins left and al lot of people only wants to have Bitcoin, however we need to also consider that Bitcoin is not the only crypto currency around, there are a lot of altcoins that can have the price of Bitcoin today, in the future, and it might replace Bitcoin as the currency, but not Bitcoin as the asset, still I don't see bitcoin hitting 1 million USD in 10 years, there's still a lot of work to be done and more and more people are just about to venture in Bitcoin.

[Usafstar]

In the case of bitcoin it can be supposed that it will achieve its target of $1 Million in the ten years we can’t predict the bitcoin for ten years but we can say that it can goes up to $ 1 Million in the future the time can’t be specified for bitcoin. When the prices goes up the people trying to sell their bitcoin as a result the supply level high in the market the ultimately the prices goes slightly down.

[Dailyroberts]

Theoretically, this is possible in the event there are only a few coins left and al lot of people only wants to have Bitcoin, however we need to also consider that Bitcoin is not the only crypto currency around, there are a lot of altcoins that can have the price of Bitcoin today, in the future, and it might replace Bitcoin as the currency, but not Bitcoin as the asset, still I don't see bitcoin hitting 1 million USD in 10 years, there's still a lot of work to be done and more and more people are just about to venture in Bitcoin.

If it comes to $8.000 from $80, this makes 100x times price increase. Then why not for another 100x price increase next years, especially in 10 years. Bitcoin is capable of everything, adopt it and have it, the rest is happening itself.

[Don Pedro Dinero]

Chart from 2014, when Bitcoin was $300, predicted price of $10k for today — Nov 22nd, 2017.  

We're at $8,200.  (If we add Bitcoin Cash and Gold prices, we'll get close to $10k).

Next milestone on chart: $100k in summer 2021.   And next: $1M in 2027.

The main flow of that chart is that it only takes into account math and not reality. Many analyses acknowledge that bitcoin has had exponential growth in the past and then go on to predict that it will keep growing exponentially in the future, but they forget the real world. The chart may be right but what happens if we have a new MT Gox or maybe a bigger one? What happens if a fork surpasses bitcoin? There are many events that can happen that could make that prediction fail.

That being said, I believe that bitcoin will keep growing for a long time.