Will Bitcoin Reach $10,000 One Day?

Honestly I think bitcoin may crash soon. As soon as th price dips a bit people will start pulling out their money and cause it to lose value quickly but I doubt it'll dip below $200 . I'm just here for the ride :p

Has to, it's the next currency.

(Well that's today's fill of pretentiousness)

I don't think the investor mass-exodus is going to happen. I'd wager the majority of investors in BTC are smart enough to know to ride out market turbulence. Additionally, investors didn't go 'all-in' with BTC. This isn't, for example, their fiat-retirement or generations of family-money at stake.

This Bitcoin phenomenon is interesting. It really is an experiment in mass psychology. The value of Bitcoin depends solely on confidence, since it is backed by nothing (dissipated power doesn't count!). I can tell you this from personal experience. I had a considerable stake in Bitcoins during the April crash, having bought in at the low $100s. I eventually liquidated my position and considered giving up on this altogether. Admittedly, I was in it for the wrong reasons (get in, get out, get rich). I decided to throw caution to the wind and daytrade. It was quite easy double or even triple a stash post crash, to my delight (high volatility and no real trends to speak of, just sloshing back and forth - easy coins!). Then, I was caught up in the second Bitfloor fiasco, where the exchange closed its doors. I panicked and sold my Bitcoins minutes before the exchange went offline (I expected a massive price correction across all exchanges - stupid, stupid, stupid). I had to wait several months to get my fiat out (I have to hand it to Roman, he held up his end of the bargain). A few months ago, I went all in sub $200 and have been very pleased with the performance. The experience gave me a much stronger hand. Whales feed off of weak hands. Plus, the earlier you jump in, the deeper the market has to correct before you'll get heartburn (generally). My advice to newbies is this: Take everything you can afford to lose and either go all in on Bitcoin or spread a portion of your stash across the ocean of altcoins out there (everything from Litecoins to Quarkcoins, Stablecoins, etc). Then, forget about cryptocoins for a few months. Watching charts does you no good if you don't plan on daytrading.

I've been lurking around these forums for about a year and there are many subhuman people here who are interested in nothing more than spreading unsubstantiated fear, doubt, and negativity. You see the same people popping up and humping that Bitcoin doomsday leg, hoping for some cheap coins. What a sad existence. If you want a good laugh, go back several months and look at all of the failed predictions, hunches and "security flaws". Regarding Bitcoin's future, nobody knows what will happen. No one person or group can match wits with hundreds of millions of entrepreneurs. We are all along for the ride .. some will get lucky with their guesses. One thing is for certain. As the price increases, the technology and surrounding infrastructure becomes increasingly robust (think of money flooding into a developing nation). Thus, the likelihood of a deep crash becomes increasingly improbable as the days march on. There will be bugs, glitches, scares, etc. and people will panic sell, losing their shirts in the process. Problems will be fixed. Fears will be dispelled. The price will recover.

Regarding $10k, I'd say the price will (over the "long term") either go to basically $0 or will run far beyond $10k. For it to go to $0, I think there would have be a global cataclysmic event or a competing technology so obviously superior in every way that no one would ever use a Bitcoin again. This reminds me of Facebook vs Myspace, but you know what? There are still millions of people who use Myspace for some reason. Being the Myspace of the cryptocurrency world wouldn't be all that bad for a worst case scenario

Bitcoin might reach 10k at some point, but I think it will be way down the road. I think you'll see a pretty steady rise into next year, my guess is somewhere around 4-5k by the end of 2014.

Quote from: traderCJ on November 30, 2013, 06:21:18 AM

T This reminds me of Facebook vs Myspace, but you know what? There are still millions of people who use Myspace for some reason. Being the Myspace of the cryptocurrency world wouldn't be all that bad for a worst case scenario

I made this exact comparison last week, I also agree with your entire statement. The more people that invest in btc the stronger it becomes, because there are more people with more $$ that want it to succeed. If we have a economic downturn in large enough scale to fail btc, btc will be the last of everyone's worries.

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10k is therefore a valid amount for 1 BTC - IF btc is used as a regular currency, which we will see.

If this happens it will be much higher

im thinking that bitcoin needs an alt coin to really help push eachother along. yes bitcoin is a pioneer. but the concepts that give it strength are not unique. yes we would all love to become millionaires very very quick. but but to have or not have a system in place that allows for personal freedom

It is a big problem for BTC, that it is more handled as an investment, than as a real currency.

As an investment, everyone is speculating, that BTC will be an accepted currency sometimes. Which would be nice, I admit, but actually to make this happen the big authorities have to accept them. States (Tax), Banks (Credits) and all those big companies delivering the daily needs (electricity, water, food, fuel) - and they cannot accept them before taxing system accepts them.

So ahdnling BTC just as an investment (which it is atm) will just lead to a sudden death of BTC .. trust will be zero and cryptocoins may disappear, leaving people with a big whole in thair financials.

This is not meant to be a future prediction, this is just meant as a very likely scenario, but it does not mean, that you NOW can make some $$$ out of it. As long as the bubble gets bigger, you have a good opportunity to pull others money.

edit: another very likely scenario is, that BTC will stay being a perfect currency for illegal usage. As long as there is enough Supply for different goods which can then be exchanged to real money, BTC could have a shining future as the next underground currency - for which it is very well suited. You can easily transfer "Money" from US to mexico without any risk. It will always be "clean" money when exchanged to something else which can be sold for $$$. Actually that is, what Cryptos are currently used for.

BTC will be over 10k yes 1 day, but to use it illegally not so. Then we are all criminals. First all world dont like USD, so for some countries it is perfect not to relay on dollar they can exchange it into there own currency.

That why most of coin are used for.

Well you can definitely bet on it.

It's possible but I don't think it's good unless there are other coins adopted by the masses to serve for the smaller transactions.

I would say that Bitcoins success depends entirely on it's adoption by the masses. If it does happen, I won't be surprised if it shoots up to 100,000 or even half a million per bitcoin.

I am sure it will. I can see it being worth much more than that but it will take some time.

There is a very strong chance it will reach 10k next year.

My bet is on $10k and far beyond. But it could go to $0. Cool

In the latter case, it can be good to take profits here and there, to secure at least your initial investment. Never sell too much, though.... Tongue

Psychology plays a big role in the this market so I think it will, all we have to do is believe it will.

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My bet is on $10k and far beyond. But it could go to $0.

this could easy happen

At the current coin supply wouldn't the market cap need to hit $120,000,000,000 to hit 10,000 a coin? That's a big number.. Shocked

2015 2016 2014 any day now cmon!