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Author Topic: Here are the speculations how $1M/BTC might be possible in 2020...  (Read 365 times)
jostorres
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June 22, 2019, 06:52:16 AM
 #1

We are all thinking that true mainstream adoption is needed for bitcoin's value to have big price levels but practically those big price levels ALONE will make mainstream adoption happening. Main stream adoption is NOT needed for reaching big values but for having sustaining values.

Now, based on how bitcoin had recovered from the 2018 downfall, it may test $1M levels in less than 18 months given that how intensively mainstream media may keep on inducing FOMO among all types of investors.

I believe bitcoin may test $100k levels before end of 2019. DO NOT ASK me any technical proof. Your FOMO will not obey any mathematical formula. Reach of awareness on the future of bitcoin is purely random hence I am not involving any analysis for this speculation but based on how bitcoin prices had traded in the past and where it is right now.

Already LIBRA, BAKKT and various ETFs are doing enough media things to spread words on cryptos and bitcoins. These (and other related positive news like Wall street listing bitcoin futures etc.) will result in RECURSIVE FOMO which is all, we need. By mid of 2020, we are about to experience another halving which will be the finisher-catalyst to test $1M before end of 2020.

Finally, in my speculation bitcoin may value $1 Billion in next few decades but before that get ready for experiencing many roller-coaster rides.

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Herbert2020
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June 22, 2019, 08:32:51 AM
 #2

We are all thinking that true mainstream adoption is needed for bitcoin's value to have big price levels but practically those big price levels ALONE will make mainstream adoption happening. Main stream adoption is NOT needed for reaching big values but for having sustaining values.
we need a bigger market, specifically bigger exchanges that are trusted by users enough to leave their money in open orders so that the order books become more packed and result in less big swings due to surges in buys or sells.
how we achieve that can be with regular growth that we have, with better exchanges or with mainstream adoption or dozens of other reasons.

Quote
Now, based on how bitcoin had recovered from the 2018 downfall, it may test $1M levels in less than 18 months given that how intensively mainstream media may keep on inducing FOMO among all types of investors.
you can't just extrapolate data like that with added exaggeration!
the recovery in 2018 was mainly because bitcoin was undervalued so it needed to jump back up like this. but that doesn't mean we can continue seeing big jumps and it definitely doesn't mean a 33000% rise in less than 2 years!

Quote
I believe bitcoin may test $100k levels before end of 2019. DO NOT ASK me any technical proof. Your FOMO will not obey any mathematical formula. Reach of awareness on the future of bitcoin is purely random hence I am not involving any analysis for this speculation but based on how bitcoin prices had traded in the past and where it is right now.
FOMO has its own power. it is not like it can "pump" bitcoin 3100% in 1 year! the big FOMO only happens during initial reversals like what we had after breaking out of $4k resistance and during the end of the bull market when the bubble is shaping up.

Quote
Already LIBRA, BAKKT and various ETFs are doing enough media things to spread words on cryptos and bitcoins. These (and other related positive news like Wall street listing bitcoin futures etc.) will result in RECURSIVE FOMO which is all, we need. By mid of 2020, we are about to experience another halving which will be the finisher-catalyst to test $1M before end of 2020.
first of all Libra has nothing to do with bitcoin, and it doesn't even mention bitcoin.
but i see the hype too and i agree that this hype has advertised bitcoin a lot specially with all the futures,... listings that eliminated a lot of FUD in the minds of people who were subjected to a lot of them. but i still don't see such as huge rise in such a small amount of time.

Quote
Finally, in my speculation bitcoin may value $1 Billion in next few decades but before that get ready for experiencing many roller-coaster rides.
now you are just going overboard with exaggeration

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June 22, 2019, 08:52:20 AM
 #3

first of all Libra has nothing to do with bitcoin, and it doesn't even mention bitcoin.

libra can create hype though. when the world's biggest companies do something, people pay attention. it doesn't matter that libra is centralized and has nothing to do with bitcoin. its proximity to "cryptocurrency" and "blockchain" while being promoted by the biggest social network in the world is enough to turn average folks onto crypto.

if libra trades on major exchanges, some of the people who came to buy libra will end up leaving with bitcoin.

Quote
Finally, in my speculation bitcoin may value $1 Billion in next few decades but before that get ready for experiencing many roller-coaster rides.
now you are just going overboard with exaggeration

i could see 7 or even 8 figure valuations. but billions? Cheesy

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June 22, 2019, 10:26:55 AM
 #4

~snip~

Do you know what is pushing price of bitcoin up or down? It is a common law of supply and demand, and at this moment people are buying more then selling which is causes price increase. We have witnessed such events in the past and we have a point of reference so we can understand why something happens.

Personally, I have nothing against $1 million per 1BTC, but who will pump almost $18 trillion in bitcoin in next 18 months? Libra is FB project, it has nothing to do with bitcoin, Bakkt is something that has dragged on for too long, they lost lot of trust, and it is very questionable what impact will they have once they become fully operational. Bitcoin ETF is still far from reality, and most of the objective experts agree that they will not be approved soon, probably in next 2-5 years from now.

In best case bitcoin will test $100 000 after next halving, but you should know that after every bull run correction comes, and question is how far back will bring us after next ATH.


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June 22, 2019, 10:27:58 AM
 #5

We are all thinking that true mainstream adoption is needed for bitcoin's value to have big price levels but practically those big price levels ALONE will make mainstream adoption happening. Main stream adoption is NOT needed for reaching big values but for having sustaining values.

Now, based on how bitcoin had recovered from the 2018 downfall, it may test $1M levels in less than 18 months given that how intensively mainstream media may keep on inducing FOMO among all types of investors.

I believe bitcoin may test $100k levels before end of 2019. DO NOT ASK me any technical proof. Your FOMO will not obey any mathematical formula. Reach of awareness on the future of bitcoin is purely random hence I am not involving any analysis for this speculation but based on how bitcoin prices had traded in the past and where it is right now.

Already LIBRA, BAKKT and various ETFs are doing enough media things to spread words on cryptos and bitcoins. These (and other related positive news like Wall street listing bitcoin futures etc.) will result in RECURSIVE FOMO which is all, we need. By mid of 2020, we are about to experience another halving which will be the finisher-catalyst to test $1M before end of 2020.

Finally, in my speculation bitcoin may value $1 Billion in next few decades but before that get ready for experiencing many roller-coaster rides.

I suppose at some point there will be an Eternal September at some point for crypto. At that point fiat goes to legacy and maybe near zero or sort of like post, vs email or some such. That will be the critical mass.

I feel the killer app/device that somehow you can prove is secure and not lose and pass on needs to happen.

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June 22, 2019, 10:35:06 AM
 #6

Of all the possible reasons you listed on why bitcoin would reach $1 million, it was Libra who only initiated this price increase.
I agree that FOMO can make unlike things to be realize and we can't use any TA on that, honestly, that's what I like because I'm kinda bored of holding my other assets which are not improving until now, I'd like to sell them once the FOMO is here, surely, no difference compared to the last bull run, this time might even crazier.

I like that prediction of $1 million, but I don't know if I can still hold at that price, I might do a panic selling once bitcoin reaches $100,000, that's me for now, but might change this depending on the situation.


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June 22, 2019, 11:06:13 AM
 #7

first of all Libra has nothing to do with bitcoin, and it doesn't even mention bitcoin.

libra can create hype though. when the world's biggest companies do something, people pay attention. it doesn't matter that libra is centralized and has nothing to do with bitcoin. its proximity to "cryptocurrency" and "blockchain" while being promoted by the biggest social network in the world is enough to turn average folks onto crypto.

if libra trades on major exchanges, some of the people who came to buy libra will end up leaving with bitcoin.

i guess you are right about the hype. as it can introduce people to the "blockchain technology" and many of them will surely hear about bitcoin as THE coin based on this technology and with it being so much better and also ridiculously profitable it can attract many of them.

regarding trading, i don't think it CAN happen because it is supposed to have a stable price. so it is like wanting to trade PayPal dollar on exchanges!

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June 22, 2019, 12:04:47 PM
 #8

I like that prediction of $1 million, but I don't know if I can still hold at that price, I might do a panic selling once bitcoin reaches $100,000, that's me for now, but might change this depending on the situation.
Nothing wrong with securing some profits every now and then, but make sure you never sell all your coins at once. I honestly wouldn't dare to sell all my coins, not even if the price went up to $1 million.

50% of what I hodl won't ever be touched unless the situation is so severe that I can't do anything but to tap into these funds. I will make sure I save enough fiat so I don't have to tap into my Bitcoin holdings would I need money.

The thing with an asset so scarce as Bitcoin is that it should always have a bias to go up with less and less inflation due to block halvings, where eventually there won't be any inflation at all.

Converting to fiat to cash out will only make you lose if you don't directly reinvest in real estate or a business you set up.

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June 22, 2019, 01:20:17 PM
 #9

We have more fiat onramps than ever before, more exchanges that are capable of handling 10-100x the current traffic, institutional interest, etc. By the time we hit $1 million we don't even have to cash out to fiat anymore, but just sit on it or spend it. By that time Lightning will be ready to serve the people who genuinely believe that Bitcoin should be spent, the rest will continue sucking on their fiat currencies.

I wonder how the market will react to Bakkt starting its test phase next month. If we don't see the CFTC act as a cock-blocker there isn't anything that will prevent it from going live with its final service.
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June 22, 2019, 04:47:19 PM
 #10

We are all thinking that true mainstream adoption is needed for bitcoin's value to have big price levels but practically those big price levels ALONE will make mainstream adoption happening. Main stream adoption is NOT needed for reaching big values but for having sustaining values.
we need a bigger market, specifically bigger exchanges that are trusted by users enough to leave their money in open orders so that the order books become more packed and result in less big swings due to surges in buys or sells.
how we achieve that can be with regular growth that we have, with better exchanges or with mainstream adoption or dozens of other reasons.

Quote
Now, based on how bitcoin had recovered from the 2018 downfall, it may test $1M levels in less than 18 months given that how intensively mainstream media may keep on inducing FOMO among all types of investors.
you can't just extrapolate data like that with added exaggeration!
the recovery in 2018 was mainly because bitcoin was undervalued so it needed to jump back up like this. but that doesn't mean we can continue seeing big jumps and it definitely doesn't mean a 33000% rise in less than 2 years!

Quote
I believe bitcoin may test $100k levels before end of 2019. DO NOT ASK me any technical proof. Your FOMO will not obey any mathematical formula. Reach of awareness on the future of bitcoin is purely random hence I am not involving any analysis for this speculation but based on how bitcoin prices had traded in the past and where it is right now.
FOMO has its own power. it is not like it can "pump" bitcoin 3100% in 1 year! the big FOMO only happens during initial reversals like what we had after breaking out of $4k resistance and during the end of the bull market when the bubble is shaping up.

Quote
Already LIBRA, BAKKT and various ETFs are doing enough media things to spread words on cryptos and bitcoins. These (and other related positive news like Wall street listing bitcoin futures etc.) will result in RECURSIVE FOMO which is all, we need. By mid of 2020, we are about to experience another halving which will be the finisher-catalyst to test $1M before end of 2020.
first of all Libra has nothing to do with bitcoin, and it doesn't even mention bitcoin.
but i see the hype too and i agree that this hype has advertised bitcoin a lot specially with all the futures,... listings that eliminated a lot of FUD in the minds of people who were subjected to a lot of them. but i still don't see such as huge rise in such a small amount of time.

Quote
Finally, in my speculation bitcoin may value $1 Billion in next few decades but before that get ready for experiencing many roller-coaster rides.
now you are just going overboard with exaggeration

You naysayers completely miss why the sky is the limit for a bitcoin price:

-There are 36 million millionaires in the world and over 7 billion people.

-After deducting lost coins and those held by huge whales with no need or desire to sell for fiat in the near future, there MIGHT be 10 million bitcoins that are potentially tradeable. The actual amount is probably far lower.

Read the above two points over and over and over again, until it registers in your brain that THERE WILL NOT BE ENOUGH TO GO AROUND ONCE DEMAND TRULY KICKS IN.
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June 22, 2019, 05:11:14 PM
 #11

If bitcoin price can go up and down many times, I am sure that many of us will take the chance to buy bitcoin at a low price and then they can wait for a while. $1M/BTC will be happening in the future, and many people out there will amaze with what happen to bitcoin price, and they will think that they should buy bitcoin too like us. But when the price can increase in that price, many people who already have bitcoin will become a rich person because they can sell it at any price they want.

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June 22, 2019, 05:40:53 PM
 #12

Actually our "believe" will not make any difference or changes bitcoin price. That's just our emotions and we live with it. However seems bitcoin on bull run and touch another ATH of 2019. If we look on altcoin market then we will notice most of investors moving on bitcoin, in a result altcoin dumping hard. Since investors moving on bitcoin so we will see good move on bitcoin as well. But I am not expecting 1M at least on 2020.





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Naida_BR
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June 22, 2019, 05:42:44 PM
 #13

We are all thinking that true mainstream adoption is needed for bitcoin's value to have big price levels but practically those big price levels ALONE will make mainstream adoption happening. Main stream adoption is NOT needed for reaching big values but for having sustaining values.

Now, based on how bitcoin had recovered from the 2018 downfall, it may test $1M levels in less than 18 months given that how intensively mainstream media may keep on inducing FOMO among all types of investors.

I believe bitcoin may test $100k levels before end of 2019. DO NOT ASK me any technical proof. Your FOMO will not obey any mathematical formula. Reach of awareness on the future of bitcoin is purely random hence I am not involving any analysis for this speculation but based on how bitcoin prices had traded in the past and where it is right now.

Already LIBRA, BAKKT and various ETFs are doing enough media things to spread words on cryptos and bitcoins. These (and other related positive news like Wall street listing bitcoin futures etc.) will result in RECURSIVE FOMO which is all, we need. By mid of 2020, we are about to experience another halving which will be the finisher-catalyst to test $1M before end of 2020.

Finally, in my speculation bitcoin may value $1 Billion in next few decades but before that get ready for experiencing many roller-coaster rides.

That won't be true.
The media is manipulated by banks and financial institutions and they act for their own profit. And apart from that, the media doesn't spread FOMO for bitcoin and cryptocurrencies in general but they do the opposite. They spread FUD and try to make people not to spend money on it.

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June 22, 2019, 05:59:24 PM
 #14

Man, I really don't know. My rational sense tells me 1 million just isn't realistic in whichever scenario I try to think up (and it's really got to be major conditions geo politically I believe). Then again, 10k was a pipedream to all but the most stubborn of Bitcoin maximalists (and McAfees) just a couple of years ago, so I suppose the laws of mathematics can be blind after all.

There's one scenario few people ever think: that 1 million dollars might be worth a lot, lot less than what it is today. If that happens, then sure, we might see million-dollar Bitcoin. And then maybe iPhones might cost $10k;)

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June 22, 2019, 06:45:55 PM
 #15

We need a large mainstream investor group like Fidelity or Meryll Lynch to allow trading on their own platform. That's starting to happen and if it continues, we will see an exponential growth in Bitcoin prices.

$1 million a Bitcoin would create a market cap of 25 trillion dollars. Where will this much money come from? Well, this money does not need to come from anywhere, its just the few at the end who are willing to pay more which will automatically create this market cap.

HODLER 4Ever!
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June 22, 2019, 06:48:37 PM
 #16

Man, I really don't know. My rational sense tells me 1 million just isn't realistic in whichever scenario I try to think up (and it's really got to be major conditions geo politically I believe). Then again, 10k was a pipedream to all but the most stubborn of Bitcoin maximalists (and McAfees) just a couple of years ago, so I suppose the laws of mathematics can be blind after all.

There's one scenario few people ever think: that 1 million dollars might be worth a lot, lot less than what it is today. If that happens, then sure, we might see million-dollar Bitcoin. And then maybe iPhones might cost $10k;)

I think that long before the values of fiat collapse to where an iphone costs $10k, the bitcoin price will hit $1m. The fear of collapse is enough, post collapse 1 btc will be worth multiple millions.
I didn't see this price happening the first half of this year. The price went from $4k to $11k so quickly and effortlessly, that I can actually see $1m price happening inside of the next 6 years. If it happens within the next 2 years I will honestly be surprised, but I won't be shocked.
The world economic picture is in dire straits - the impending debt crisis is real, it's not some made up bs bandied about by tin foil hat wearing Youtube preppers. It's real, and it can't be stopped.
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June 22, 2019, 06:58:20 PM
 #17

I have to say, it's good to hear such optimistic thoughts, but 1 million for me it's almost impossible, imagine how much money people have to put on BTC to achieve such level?
For me this is the most reason, it's a huge amount of money needed

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June 22, 2019, 07:11:49 PM
Last edit: June 22, 2019, 07:26:13 PM by WinslowIII
 #18

I have to say, it's good to hear such optimistic thoughts, but 1 million for me it's almost impossible, imagine how much money people have to put on BTC to achieve such level?
For me this is the most reason, it's a huge amount of money needed

I think it would take a trillion usd or less incoming spread out over some time for bitcoin to achieve a 17 trillion dollar market cap. If you think it would take $17 trillion incoming to achieve a $17 trillion mkt cap than you have no understanding of how these markets and market caps actually work.

One trillion is about what the US government adds in debt each year. It's about 1/3 of the state of California's GDP. This gives you some perspective on how little this amount actually is in the big picture.
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June 22, 2019, 07:33:16 PM
 #19

We need a large mainstream investor group like Fidelity or Meryll Lynch to allow trading on their own platform.

There's no news of official launch yet, but last month Fidelity said they'd be opening their new cryptocurrency platform for institutional investors "in a few weeks." Interestingly, it sounds like they'll be offering spot trading (not futures) although I could be wrong about that. I haven't seen official specs on their markets yet.

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June 22, 2019, 08:43:02 PM
 #20

O p, there is no way in which Bitcoin market value  will reach $1m in the coming eighteen months as you speculate in your submission above. No miracle of what so ever can make such height happen and not even the main tream news propaganda can make it happen in eighteen months.
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