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Author Topic: $10million in 2023 possible?  (Read 605 times)
adpinbr
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August 18, 2018, 03:18:16 PM
 #1

At the first halving on November 28, 2012, BTC/USD traded around $12. By the second, on July 9, 2016, it was $657. The third halving — due in mid-2020 or in 644 days — will see the block reward reduce from 12.5 BTC to 6.25 BTC, while What’s On Crypto suggests ongoing trends could see prices hit a giant $10 million by 2023-quoted by wilma woo.

These predictions are giving us hope about the future of bitcoin but we all know that bitcoin is know for its volatile and unstable characteristics. Do you think that the expert's predictions are possible or do you think that this are just a mere simple prediction.















 

 

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August 18, 2018, 03:33:27 PM
 #2

well do the math by yourself. What is the total supply of bitcoin? lets just calculate circulating supply and multiply by $10 million. Hope you will have your answer. And anyhow if you can manage 10 BTC , you will have 100 million dollars !!! It is just simple prediction only, not financial advice. But BTC will be more expensive and whole crypto will be well regulated. Fake ICO and scammers will be kick out and real investors will enter into crypto market, it is my future thinking regarding crypto

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August 19, 2018, 09:06:56 PM
 #3

21 million coins multiplied by 10 million dollars a coin would give a market cap for Bitcoin of $210 trillion. Given that the market cap of all crypto is currently only around $210 billion, I very much doubt it that $10 million a coin will ever happen, let alone within 5 years.

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FlamingFingers
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August 19, 2018, 09:17:51 PM
 #4

I wish to know where people are getting those 'predictions' from. $10M*21M = $210 trillion market cap. So you are saying that Bitcoin alone will beat global stock markets (whose capitalisation is valued at $60–$80 trillion and predicted to grow to $100T by 2020) in only 5 years, and even if you predict based on bitcoin price at the previous halving, it would be $36K not $10M.
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August 19, 2018, 09:21:12 PM
 #5

21 million coins multiplied by 10 million dollars a coin would give a market cap for Bitcoin of $210 trillion. Given that the market cap of all crypto is currently only around $210 billion, I very much doubt it that $10 million a coin will ever happen, let alone within 5 years.

This is an exaggerated expectations on bitcoin, and it wasn't exactly what we're looking for now. The $20k is just enough to happen and with that very expensive price of bitcoin that's too much. It's not possible to happen, well in fact we're still struggling to reach at $20k again and somebody's thinking that very huge value. Let's just remain calm and optimistic at best limits.

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August 19, 2018, 09:22:45 PM
 #6

Having in mind how fast is bitcoin developing this is so distant future.
And such estimation is far too exaggerated. Let's be more focused on something that is happening now.
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August 19, 2018, 09:26:12 PM
 #7

At the first halving on November 28, 2012, BTC/USD traded around $12. By the second, on July 9, 2016, it was $657. The third halving — due in mid-2020 or in 644 days — will see the block reward reduce from 12.5 BTC to 6.25 BTC, while What’s On Crypto suggests ongoing trends could see prices hit a giant $10 million by 2023-quoted by wilma woo.

These predictions are giving us hope about the future of bitcoin but we all know that bitcoin is know for its volatile and unstable characteristics. Do you think that the expert's predictions are possible or do you think that this are just a mere simple prediction.




For me, everything is possible so there is a chance that the price in 2023 will reach $10 million. It might happen because of the development of bitcoin and in that year, many people are investing in bitcoin.
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August 19, 2018, 09:29:02 PM
 #8

At the first halving on November 28, 2012, BTC/USD traded around $12. By the second, on July 9, 2016, it was $657. The third halving — due in mid-2020 or in 644 days — will see the block reward reduce from 12.5 BTC to 6.25 BTC, while What’s On Crypto suggests ongoing trends could see prices hit a giant $10 million by 2023-quoted by wilma woo.

These predictions are giving us hope about the future of bitcoin but we all know that bitcoin is know for its volatile and unstable characteristics. Do you think that the expert's predictions are possible or do you think that this are just a mere simple prediction.



It is possible to reach $10 million in 2023 because in that year many people knows bitcoin so many people investing in bitcoin. The technology and the bitcoin is developing so there is a chance that it will reach that price.
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August 19, 2018, 09:31:32 PM
 #9

10 millions USD is quite some figure, I don't think we will hit that high, also, lately, price of bitcoin has not really correlated to the mining output so halving may not do so much to the price
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August 19, 2018, 09:33:52 PM
 #10

I wish to know where people are getting those 'predictions' from. $10M*21M = $210 trillion market cap. So you are saying that Bitcoin alone will beat global stock markets (whose capitalisation is valued at $60–$80 trillion and predicted to grow to $100T by 2020) in only 5 years. OK, I will bite.
Now your calculations really put things in the right perspective. 210 trillion is ridiculous even for the bond market let alone for cryptocurrencies.simply not feasible 
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August 19, 2018, 09:36:23 PM
 #11

21 million coins multiplied by 10 million dollars a coin would give a market cap for Bitcoin of $210 trillion. Given that the market cap of all crypto is currently only around $210 billion, I very much doubt it that $10 million a coin will ever happen, let alone within 5 years.

This is an exaggerated expectations on bitcoin, and it wasn't exactly what we're looking for now. The $20k is just enough to happen and with that very expensive price of bitcoin that's too much. It's not possible to happen, well in fact we're still struggling to reach at $20k again and somebody's thinking that very huge value. Let's just remain calm and optimistic at best limits.

This is a prediction so ridiculous it borders parody. $10 million would only happen if the US dollar collapsed and is near worthless to the point of 100 USD buying a pack of gum. $20k will happen again eventually, just keep hodling, but don't expect $10 million. A lot of newbies have these outrageous predictions because they want to get rich.
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August 19, 2018, 09:46:28 PM
 #12

Nothing is impossible buddy but looking at this figures you are giving, it does not look realistic but anything can happen.
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August 19, 2018, 10:36:58 PM
 #13

People take everything far too seriously. It's just something that's theoretically possible. If you want, you can shape charts in such a way that they return crazy high figures, and that's exactly what happened here.

It's also theoretically possible that the price reaches $100 million per Bitcoin at some point in the future. The question that you should always ask yourself is whether or not it's likely. In this case, is it likely? Definitely not.

Bitcoin is a great instrument in more ways than one, but has not much other than speculation to fuel it for now, and I honestly don't know how long it will take before we see a significant change in that regard. 

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August 19, 2018, 10:41:21 PM
 #14

I get that the halving helps maintain the price of Bitcoin at a certain level but expecting Bitcoin to reach $10m in the next 5 years only because of the halving is next to impossible. If we see a surge in 2023 that $10m won't last long just like how $20k lasted last December and expect the price will correct immediately. This is more of a speculation than a possibility because Bitcoin won't have enough users to push the price to $10m

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August 19, 2018, 10:55:48 PM
 #15

Nothing is impossible buddy but looking at this figures you are giving, it does not look realistic but anything can happen.

   He really give us a big figure to discuss about. I agree with you MartinAK, more than with others. It doesn`t look
realistic by all means, but when we know what is Bitcoin we know that anything can happen.
   For price to reach $10M for single Bitcoin I think all world should adopt it in next 5 years, and faster. Adoption is
going in the right direction, but can we expect some adoption on global level any time soon?
   Government institutions are still discussing about that. Anything can happen, but for now this is not the speed we
need to achieve million dollars for one bitcoin in next 5 years.

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Biodom
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August 20, 2018, 12:28:34 AM
 #16

Most likely, not.

Here is an interesting factoid;

The number of $ billionaires as about 2754 currently.
It was growing at average 9.3% a year in the last 10 years.
projecting forward, in 2023, we might expect to have 4296 billionaires.

however, there are about 16000 accounts with more than 100 btc.
https://medium.com/@BambouClub/are-you-in-the-bitcoin-1-a-new-model-of-the-distribution-of-bitcoin-wealth-6adb0d4a6a95

If bitcoin is at 10 mil/btc, all those accounts would be $ billionaires, producing too high number of billionaires in 5 years (4296 vs >20000).
Too much variation in growth.

Let's allow for no more than 50% deviation from the projected number of billionaires and make it an upper boundary.
50% extra would be 2148 additional billionaires (for a total of 6444 in 2023).

Going back to medium article, there are 1756 accounts with 1000-10000 btc and above that.
It stands a reason that, perhaps, you need about 900-950 btc to bring total number of such accounts to needed 2148.

Therefore, you would need about 900-950 btc for $1bil account value or $1.05-1.1 mil/btc to have maximum 50% increase (from the expected number) of billionaires in the world.

But when it is possible to have 10mil/btc and still be at current trend of billionaire growth?
The answer is in about 23-25 years (2041-2043).

TL;DR $10 mil is quite unlikely, but up to about $1mil/btc in 5 years is possible.
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August 20, 2018, 05:08:46 AM
 #17

Sometimes become practical to think can anything such achieve this type of price, and you will the answer by yourself . Even if all countries in the world approves it and make it legal then too is it possible? But already we know not all countries are approving it so it is out of question now.

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August 20, 2018, 06:44:20 AM
 #18

At the first halving on November 28, 2012, BTC/USD traded around $12. By the second, on July 9, 2016, it was $657. The third halving — due in mid-2020 or in 644 days — will see the block reward reduce from 12.5 BTC to 6.25 BTC, while What’s On Crypto suggests ongoing trends could see prices hit a giant $10 million by 2023-quoted by wilma woo.

These predictions are giving us hope about the future of bitcoin but we all know that bitcoin is know for its volatile and unstable characteristics. Do you think that the expert's predictions are possible or do you think that this are just a mere simple prediction.


[/quoteGod help me to keep on holding and buying more as it seen the future of cryptocurrencies is very bright and we can only makes money if we can hold  for long-term.  I find out that most of these predictions are around 2023 and it means now is the right time to buy.

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August 20, 2018, 07:05:40 AM
 #19

Just like you said, it's just giving us hope, false hope. $10 Million per bitcoin is just on the real of imagination. To go reach that price bitcoin should be adopted that time and many people are using it not just as a investment. I wouldn't put any weight on that kind of prediction because its really impossible to see bitcoin getting to $1 million.

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millensharon8
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August 20, 2018, 07:24:41 AM
 #20

They are predictions just as you have mentioned and I see it more like what someone is wishing would happen and then decides to say it out loud which does not mean it would happen. At least, it is baseless predicting a market that surely no one knows what the future holds and we can only keep blending with the trend.

2023 is a very long time from now and it would be too much for anyone to be unnecessarily worrying what bitcoin price would be by then, knowing that anything is possible. If we are to judge based on past years and now, we might say something close could be likely, but at the same time, past incidence is not a way to judge future patterns.
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