BTC could reach 6 figures (rational explanation)

[206 bones]

Guys, I just posted this answered in a topic & I thought it was to good not to share it with the community.

BTC could reach six figures this or next year.

I'll tell you why. BTC preoperties & utilities make it perhaps the best sound money history has ever known. What is keeping the price at this current level is the lack of knowledge & awareness of society in this matter. There is not much clarity & a lot of confusion. I think banks & the media are confusing the masses so they can win time & try to do something that can compete before it is to late. So they can retain power and control.

BTC competes directly with this 3 markets: metals like gold & silver ($10tr +), foreign currencies ($80tr +) & offshore banking ($40tr +).

It would only take a small % of one of this markets to make BTC rise to $100.000.- a coin (2 trillion market cap). Taking everything into account I see it as something very possible & easy to accomplish in the long term. So, don't stop the HODL. The current price is a bargain.

But guys, let me be clear. I don't want to ignite FOMO. Be very careful with your investments & don't put more money than you can. There is stil a possibility that everything can go to hell. No one knows. Im just talking theory here. Reality might be much more complex.

What do you guys think?  

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[moviebuff777]

I think your reasoning it very good and I agree. I think it will be next year when Bitcoin hits $100,000 as it gains a share of the market that is currently held by gold and other similar investment types.

[gentlemand]

The only thing that'll make it happen is demand outstripping supply along with the gift/curse of market cap.

I can guarantee you that most of the people who make it happen won't care about hard money, government meddling or cross border freedom. They'll be after more dollars and nothing else.

It's conceivable it could happen in the next couple of years. If it does I really hope it attempts to stick somewhere around that level but we all know it won't. Plan accordingly.

[Myfe]

The six figures is doubtful, but increasing awareness and knowledge is definitely needed to keep Bitcoin going. I think the news from China and other governments about how they are adopting the use of blockchain is a PRIME way to build that knowledge, understanding, and (hopefully) adoption.

The only challenge is that as news of governments creating their own "digital currency" is that the public will first mis understand it totally. They'll think - "Oh, China created it's own Bitcoin, i'll just use that!" or "i heard bitcoin is owned by China now".

They won't get the fact that it's fiat currency on the blockchain, not cryptocurrency. We need to make sure we educate people along the way. Andreas could do it, Andreas will do it!

[206 bones]

I think your reasoning it very good and I agree. I think it will be next year when Bitcoin hits $100,000 as it gains a share of the market that is currently held by gold and other similar investment types.

Thanks

The only thing that'll make it happen is demand outstripping supply along with the gift/curse of market cap.

Well, that happens in every bullrun..

What do you mean by gift/curse of market cap?

I can guarantee you that most of the people who make it happen won't care about hard money, government meddling or cross border freedom. They'll be after more dollars and nothing else.

For sure. But is nice to know there is a sound money network free for all. & can help people keep there wealth when their countries economy goes to shit.

It's conceivable it could happen in the next couple of years. If it does I really hope it attempts to stick somewhere around that level but we all know it won't. Plan accordingly.

Yea. Every cycle has its ATH & a new high low. My idea is to start selling small quantities as we rise to the ATH. & then buy when the market gets depress + DCA. But from now on I will always be participating in this network. I will probably have a major part of my savings in it.

The only challenge is that as news of governments creating their own "digital currency" is that the public will first mis understand it totally. They'll think - "Oh, China created it's own Bitcoin, i'll just use that!" or "i heard bitcoin is owned by China now".

They won't get the fact that it's fiat currency on the blockchain, not cryptocurrency. We need to make sure we educate people along the way. Andreas could do it, Andreas will do it!

You couldn't have explained it better  . It will actually be way worse than fiat. They will have a level of control without precedents. & to create money will be way easier without having to make bills. This garbage of cryptocurrency will make BTC shine even more.

As I said in the first post, people in power for sure know the inmense potential that BTC has. The trust that people have in goverments, the media & banks, make them vulnerable. This powers takes advantage, so they can win time, confusing and not really educating people. To maintaine the modern slavery working.

[Oasisman]

I might agree with some of your point, but reaching the 6 digits within the span of 2 years seems unrealistic, though I have always been saying nothing is impossible in cryptocurrency, but then again I'm talking about the realistic approach on the current market situations rn.
I mean, everytime Bitcoin breaks the resistance level, massive sell out will takes place, thus discouraging for the new investor's first impression as the price will gradually decrease.
 
I myself believe it would reach that figure, but it will take time before we see those numbers in the market.

[pixie85]

I agree Bitcoin is great and it's still undervalued and underestimated because it's such a novelty. Many rational thinkers are scared to invest because they see Bitcoin as this misunderstood phenomenon that people are putting money into because they heard it brings big profit and makes millionaires out of teenagers.

It could be that many current Bitcoin investors don't even know how it works and those will be the ones to spread fear and panic when it doesn't do what they thought it will do (make them rich).

[206 bones]

I might agree with some of your point, but reaching the 6 digits within the span of 2 years seems unrealistic, though I have always been saying nothing is impossible in cryptocurrency, but then again I'm talking about the realistic approach on the current market situations rn.
I mean, everytime Bitcoin breaks the resistance level, massive sell out will takes place, thus discouraging for the new investor's first impression as the price will gradually decrease.
 
I myself believe it would reach that figure, but it will take time before we see those numbers in the market.

Yea for sure I agree with you. I'm just saying it could, but! if the stars align.

Which are the stars or factors I see it could create a rapid snowball effect in the price?

1) POSSIBLE STOCK MARKET CRASH (S&P 500 which it has been artificially inflated through the last 10 + years)

The probability of this crash is increasing as the price gets higher and higher. Everything that goes up must come down.

¿SAFE HEAVEN?

When the stock market crashes, people will sell the stocks & many will ask desperately, where do I put my wealth  now??? .. GOLD? BTC? .. BTC looks good, it's going up in price maybe is the new thing! gold 2.0 & they say is not correlated to anything! i'll put some there!

2) THE MEDIA isn't talking much about BTC, is very quite, the general public is not seeing why they should invest in BTC. But once it begins to go up for a couple of weeks, then the media could ignite the FOMO and awareness of people even more. This will increase the HODL and the DEMAND, and create an incredible spike in the price.

3) PRESSURE: Newcomers, new people entering because all this madness. They might feel pressure to buy so they don't loose the opportunity of their life time.

4) AWARENESS: More people interested in learning. Which will make more people see the real value of BTC.

[CryptoBry]

The challenge to get into six-figure level can be so big that maybe we should stop thinking that it can happen within just 2 or even 5 years...we should allot more budget of time for this level to come into reality. Right now, there are many "problems" associated with Bitcoin but as for me things all boil down to the level of demand for this said cryptocurrency. We know that it has a limited supply of around 21 millions and this can be fixed so it is on the side of demand and use-cases where the biggest challenge is. Personally, I am allowing maybe 15 years as conservatively the time needed for BTC to reach the 6-figure zone (based on how things are going on right now), that is if Bitcoin will not be dead before it reached the line.

[206 bones]

The challenge to get into six-figure level can be so big that maybe we should stop thinking that it can happen within just 2 or even 5 years...we should allot more budget of time for this level to come into reality. Right now, there are many "problems" associated with Bitcoin but as for me things all boil down to the level of demand for this said cryptocurrency. We know that it has a limited supply of around 21 millions and this can be fixed so it is on the side of demand and use-cases where the biggest challenge is. Personally, I am allowing maybe 15 years as conservatively the time needed for BTC to reach the 6-figure zone (based on how things are going on right now), that is if Bitcoin will not be dead before it reached the line.

I respect your opinion. But you are talking from what you believe & not from solid arguments or real rationalisation.

What you are saying can be applied to every moment before each halving or bullrun in BTC history. All those rising prices have been insane & people who predicted correctly where called crazy. Why shouldn't the price behave the same way towards the future? ..

[piebeyb]

I bet for the price of bitcoin $ 100k for next year that it will be easy to touch, I not only look only at charts and do analysis, but I also look at various other aspects as you think by writing down some of the reasons above, usually I calculate the economy What's happening right now, I don't promise big profits for new people to buy bitcoin and altcoin, all investments always have risks and no one actually loses holding bitcoin unless you sell it cheap

[justdimin]

Unfortunately its still tied to turning it into cash, which is why we are not getting shares from those markets. If there was possibility of spending bitcoin everywhere you go, do you know how easy it would be to just get even %1 of those markets? We are talking about a combined 100+ trillion markets here, getting to 1 trillion would be over 50k and even that by itself is good enough increase as of right now.

The thing is, we need some sort of offshore bank that provides anonymous debit cards and allows you to buy and store bitcoins on their bank and allow you to spend it wherever you go with the debit card without actually getting followed, that is close to impossible as it is right now, we can't really expect any bank even on offshore places to make such risky moves.

[adaseb]

Reaching 6 figures and maintaining 6 figures are 2 different things. Take ETH for example. Back in 2017 it started out at less than $10, and around a year later it peaked at $1400. So basically a 140x growth, which is unbelievable but completely unsustainable.

So its possible that we might break $20K and quickly go to $25K and then the FOMO will build, people will see Bitcoin on TV and newspapers and within 2 months we can quickly get to $100K however it won't be able to hold that price because it will only take a few early adopters to start selling in massive quantites and won't be enough demand to keep up with massive supply.

[Coin_trader]

In my humble opinion, The only thing that keeps BTC price low and must  be broke is the gap between crypto markets and institutional investors. As you can see on the current market condition. Only few people holds huge amount BTC and most of them are early investors. The market cap can be increased 10 folds once institutional investors aboard. That's why ETF is a big game changers once approve by the SEC which currently uncertain.

[Wind_FURY]

The only thing that'll make it happen is demand outstripping supply along with the gift/curse of market cap.

I can guarantee you that most of the people who make it happen won't care about hard money, government meddling or cross border freedom. They'll be after more dollars and nothing else.

I believe a good number of them will. Many of us came here because of greed, but stayed because a part inside wants to be part of something. Is it activism, a revolution? I don't know, but "something".

It's conceivable it could happen in the next couple of years. If it does I really hope it attempts to stick somewhere around that level but we all know it won't. Plan accordingly.

The next 10 years. It's safer, ask John McAfee.

[ultrloa]

In my humble opinion, The only thing that keeps BTC price low and must  be broke is the gap between crypto markets and institutional investors. As you can see on the current market condition. Only few people holds huge amount BTC and most of them are early investors. The market cap can be increased 10 folds once institutional investors aboard. That's why ETF is a big game changers once approve by the SEC which currently uncertain.

But unfortunately crypto have so many lapses and the volatility is not stagnant together with the state of it that's why government and doesn't know about the technology get a hard time to accept them up as a good assets, that's why even up today ETF acceptance still floating but hopefully we can see this up granted and for sure we will see the price soar high.

[buwaytress]

The rational explanations have ALWAYS been there. And I remind myself, rational in Bitcoin is highly relative. $100 wasn't rational in 2013, $1000 wasn't in 2015, and $20000 certainly wasn't in 2017!

Every foundational aspect of Bitcoin has not only been proven, but strengthened every step since. Mass adoption and mass awareness have reached levels we like -- but when people truly understand why Bitcoin's so valuable, and when they truly begin using it (true mass adoption), oh I think 6-figures is rational. Now as to when that will happen...

[Tduty]

Yes, Bitcoin has higher chance to reach 6 figures that won't happen very soon, It may take another decade! 6 figures is not that easy, just think 1 Bitcoin at 100K USD and the reaction of the world! Bitcoin is still unfamiliar to the majority of people of this world! Though you have a point, but this is not gonna happen in the next 5 years!

[206 bones]

The next 10 years. It's safer, ask John McAfee.

That guy is a joke. He has way more credit than he deserves.
I lost all respect, when I knew he got paid to create FOMO, by saying BTC would reach 1 million in 2020.

So be careful, there is also corruption in the crypto world. Some individuals in social media get paid to create FOMO & help create artificial rally's.

[Lucius]

What do you guys think?  

If I only received 1% of BTC every time I read the market comparisons of gold, silver, all paper currencies, stocks and similar, I would be a rich man today

But let’s put the joke aside, it makes sense to think that some of the value that is stored in some other assets today may one day go to BTC. Globally, $2 trillion is not some big sum of money (although I'm sure some of you can't even imagine how much that is), so if you take $500 billion from gold/silver, $500 billion from stocks, and another $1000 billion ($1 trillion) from fiat, the real estate market, and various other sources we get a price of 1 BTC equal to $100 000.

To be honest, this is not at all unrealistic, but we have to ask ourselves, what exactly is refusing investors to choose to invest in BTC anyway? I personally think the first reason is high volatility, and thereafter insufficient legal regulation that would give some certainty to investors. It's hard to accept that something that was worth $9000 today is worth $6000 in a week or two after that and that there is a possibility (albeit a very small one) that it will someday be worth almost nothing.

Big money is looking for (especially long-term) stability and security, which is something BTC cannot provide right now. Not to be pessimistic, on the contrary, I think the next bull run will outperform the last one, at least by x5, which leads us right up to $ 100 000 - but most of the money will come from the pockets of small investors.