Do you really think bitcoin will reach 100k $ in 2021

[asifahmedkhi1]

According to Porto, rapidly growing technologies have a doubling time, meaning that their effectiveness doubles within a consistent, repeatable timeframe. Traditionally, Moore’s law has been applied to computing technology, but Porto says that the bitcoin price has thus far followed the trend by more or less doubling every eight months throughout its history.

As he states:

Moore's law specifically applied to the number of transistors on a circuit but can be applied to any digital technology ... Any technology that is growing exponentially (i.e., 'following Moore's law') has a doubling time.

Assuming bitcoin continues to follow this golden rule in the near-term, Porto anticipates the bitcoin price will extend beyond $100,000 by February 2021. Using the current BTC supply for simplicity’s sake, this would give bitcoin a market cap of about $1.65 trillion. Needless to say, a $100,000 bitcoin price would thrill today's investors, assuming they have the fortitude to resist the temptation to sell them.

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[asayoyaasa]

Move your topic here mate Speculation it's more appropriate at that sub.

But yeah probably.

[omonuyak]

Bitcoin has made surprise move in the past and I do believe that it is 100% possible for bitcoin to get to $100,000 by 2021 without following the moore’ laws. The technology itself has the capacity to make that happen. I did not see any reason why bitcoin should be limited one $100,000 as it popularity keeps rising.

[gentlemand]

Moore's law seems to have petered out in general. I remember a time when the computer you bought really would be obsolete 2-3 years later. Now I use a 10yr old laptop that's still feels fine. Nothing of that nature continues in a linear fashion forever, or it becomes effectively infinite.

As for 100 grand, I never dreamt it would reach 20 grand in 2017. Four more years of better infrastructure and greater awareness feels like enough of a launchpad for it to be a possibility. The thing that bothers me is that many people are already treating it like it's in the bag.

Bitcoin either massively exceeds expectations or totally crushes them with disappointment. I think we'll either get nowhere near it or blast straight through it.

[buwaytress]

Moore's law seems to have petered out in general. I remember a time when the computer you bought really would be obsolete 2-3 years later. Now I use a 10yr old laptop that's still feels fine. Nothing of that nature continues in a linear fashion forever, or it becomes effectively infinite.

As for 100 grand, I never dreamt it would reach 20 grand in 2017. Four more years of better infrastructure and greater awareness feels like enough of a launchpad for it to be a possibility. The thing that bothers me is that many people are already treating it like it's in the bag.

Bitcoin either massively exceeds expectations or totally crushes them with disappointment. I think we'll either get nowhere near it or blast straight through it.

Was just telling the same to a colleague insisting I should upgrade. My puter's not that old. Bought it in 2016 as an end-line product, so BIOS and everything else installed 2013. It's now 6 years old and really, is fine for most things I do.

Problem is the apps, really. Freelancer here so you've got clients who want you on Slack, on Trello, on Discord... and while they do have Web apps for these, they're slower and the apps only marginally faster -- eating up more memory for doing really the same things older apps do.

Anyway, digressing. I think in the decade Bitcoin's been around, definitely seeing Moore's Law not catching up. Had hash power continued on its uptrend, impossible for chips to keep up, so maybe there's some sense in price being driven up just to make up for diminishing returns (in coins) for miners?

But as to whether 100k is possible, I think a lot of people are dreaming, and don't want to pinch themselves out of it.

[gentlemand]

But as to whether 100k is possible, I think a lot of people are dreaming, and don't want to pinch themselves out of it.

I feel ambivalent about it. The stuff that's being built by the people who are building it wouldn't bother putting it together to service a crypto market that's as piddling as it is now. It's clearly with an eye towards monstrous growth.

In less than 4-5 years it's likely every major market player will have access to on ramps offered by their regular channels. In that scenario something would've gone a bit wrong if it wasn't at least 5x higher than when it made do with piece of shit exchanges put together by amateurs.

[veleten]

is it possible? yes it is , is it probable? no it isn't
100.000$ can be reached in a several years time , but not in 2021 , it is too early for that
for it to happen bitcoin would have to get approval from the mainstream businesses and companies and investment funds
not only that but get actively traded and even lobbied as the new gold , also legalized and regulated in many countries
and even then 10x in a couple of years time seems very unlikely to me - no mass adoption , no transaction speed increase ( LN is going slower than I'd like )

[Wilhelm]

is it possible? yes it is , is it probable? no it isn't
100.000$ can be reached in a several years time , but not in 2021 , it is too early for that
for it to happen bitcoin would have to get approval from the mainstream businesses and companies and investment funds
not only that but get actively traded and even lobbied as the new gold , also legalized and regulated in many countries
and even then 10x in a couple of years time seems very unlikely to me - no mass adoption , no transaction speed increase ( LN is going slower than I'd like )

(for the perspective)

These discussions have been there many times before and bitcoin don't give a f**k  .

When bitcoin was <$100 then $1000 seemed impossible.
 - $10k was ludicrous
 - $19k would make you a certifiable lunatic.

Yet this all happened since 2013 (6 years).

The next 5 years can be just as insane. My gut says no but it has happened before.....

[Reatim]

Move your topic here mate Speculation it's more appropriate at that sub.

But yeah probably.

Nice prediction almost right on prices from April to July,now what we are waiting is the October in witch very crucial.because just like what happen in fourth quarter of 2017 when the price starts to grow higher and the history recorded in 2017 December as we hit the highest price crypto ever had

In order for this to take effect atleast holders will keep theirs and investors must return back specially those where gone when the doom of market happen in 2018.

[davinchi]

It is all speculation and we are in speculation section of bitcointalk so anyone who says it will reach there or says it won't reach there all have a say in this. I think 100k is too much but I can sort of understand people who say it will, its really a long time in bitcoin life, think about where we were 2 years ago, we were around 1000 dollars just 2 years ago, since then we have moved to 20 and then to 3 then to over 10 once again, that all happened in 2 years life span of bitcoin, so if you think about it then 100 thousand dollars is not really that impossible and quite doable for bitcoin.

It is just that the number is way too high for many people to accept that easily however if you think about it when bitcoin was 30 dollars or even at 1 thousand dollars people wouldn't believe you it will become 20 thousand dollars neither.

[gentlemand]

It is just that the number is way too high for many people to accept that easily however if you think about it when bitcoin was 30 dollars or even at 1 thousand dollars people wouldn't believe you it will become 20 thousand dollars neither.

One of the most consistent things I've observed is the complete inability of people to conceive of numbers slightly beyond their own tiny mind.

Mining is a case in point. Time and again people write threads about how 100% unsustainable it is to keep buying that insane 1800 coins per day. No way can an entire planet support that, no sirree. In reality it's about $90,000 per country per day. More is probably spent on hair transplants for hamsters.

[BrewMaster]

lets just say that i don't see any reason to think otherwise!
we have see the price rise so far, we have also seen the potential that bitcoin has. and from this potential, only a very small percentage of it is met which means we still have a long way to go.
so all i see is more big rises in the future. $100k is only one of them. and unless i see mass adoption of bitcoin or i see bitcoin stops sticking to its principles (such as being decentralized, having a limited supply,...) i expect this trend to continue.

[1Referee]

But as to whether 100k is possible, I think a lot of people are dreaming, and don't want to pinch themselves out of it.

I can't really blame people for thinking that. Most people here consider crypto the only ever opportunity to 'easily' accumulate a lot of wealth in a relatively quick fashion. If they had to work for this, they probably wouldn't be able to get anywhere near the financial level they are currently, especially when you live from paycheck to paycheck and have nothing to put aside.

It's definitely more healthy to just be a rational investor and have only a few % of your net worth in Bitcoin, but we as hardcore hodlers are far from rational. In the end, $100,000 isn't that far fetched. I am convinced that we will get there with patience. Never bet against Bitcoin. It will rekkt you long term speaking.

[suzanne5223]

But as to whether 100k is possible, I think a lot of people are dreaming, and don't want to pinch themselves out of it.

I can't really blame people for thinking that. Most people here consider crypto the only ever opportunity to 'easily' accumulate a lot of wealth in a relatively quick fashion. If they had to work for this, they probably wouldn't be able to get anywhere near the financial level they are currently, especially when you live from paycheck to paycheck and have nothing to put aside.

If we look back at the bitcoin whitepaper which was written by Satoshi and the previous success story of bitcoin accumulators we should blame every individual which belief bitcoin to be the ever opportunity to be wealthy cause bitcoin was also created for making people financial freedom.
With that been said, the prediction of 100K by 2021 is not possible.

[exstasie]

This seems like a bizarre application of Moore’s law. I don't think time nor price is nearly that predictable. I prefer Gartner hype cycles as a model for Bitcoin's growth.

One of the most consistent things I've observed is the complete inability of people to conceive of numbers slightly beyond their own tiny mind.

People perpetually underestimate the power of hype and Bitcoin's extreme scarcity. Most people around here can't even imagine $100K, let alone $1 million. That just makes me smile.

[bkbirge]

One of the most consistent things I've observed is the complete inability of people to conceive of numbers slightly beyond their own tiny mind.

I think this may be a fundamental failing of the human condition. Number of galaxies, distances between them, density of a hydrogen atom, size of that atom, etc. We don't do really small and really big very well at all, from an intuitive point of view and I think that leads to a lot of wrongheaded assumptions when people apply "common sense" to a whole host of topics.

[gentlemand]

I think this may be a fundamental failing of the human condition.

Yes. And I think it's used against the average human on a regular basis. A classic case is 'billion'. We hear this countless times a day in the news by governments and businesses until it gets to the point where the average taxpayer thinks 'hell, what's another billion?'

One million seconds is 11 days. One billion seconds is nearly 32 years.

Politicians should be forced to say 'thousand million' and blow out their cheeks and throw out their arms to emphasize how vast that number is.

[harizen]

It's usual to see that the majority are optimistic about the possible "dream price" that will happen a few years later. There are lots of good predictions and speculations backed-up by a professional analysis. Does really have the sense to read since they have valid pointers.

However, all those analyses will just happen if it will not be spoiled by a certain event that can pull down the price such as sudden exchange crash, bad events, negative views by a large institution, government involvement or something along those lines.

From the span of 2019-2021, there are possibly lots of happening which can dictate where the price should go. Whatever happens, bitcoin price will surely reach those believer's target. However, the question is "when" so don't expect too much that something will happen good year by year. As long as the price is steadily pushing up, with only a few crashes along the way, we might see a 5 digit price as the "new bottom".  

[1Referee]

If we look back at the bitcoin whitepaper which was written by Satoshi and the previous success story of bitcoin accumulators we should blame every individual which belief bitcoin to be the ever opportunity to be wealthy cause bitcoin was also created for making people financial freedom.

The white paper isn't law. Bitcoin is freedom as you also indicated, which means that regardless of your own point of view on speculation or people trying to accumulate wealth through Bitcoin, you can't do anything about it to stop them. Nothing wrong with people using Bitcoin to progress in life. Don't blame anyone for doing so.

I'm balls deep in Bitcoin and convinced of its success in the long run, but there are enough people who think it has a shelf life and therefore try to make the best out of it whenever they can and while they still can.

[Wilhelm]

I think this may be a fundamental failing of the human condition.

Yes. And I think it's used against the average human on a regular basis. A classic case is 'billion'. We hear this countless times a day in the news by governments and businesses until it gets to the point where the average taxpayer thinks 'hell, what's another billion?'

One million seconds is 11 days. One billion seconds is nearly 32 years.

Politicians should be forced to say 'thousand million' and blow out their cheeks and throw out their arms to emphasize how vast that number is.

What should they do to emphasize a trillion?