BTC could reach 6 figures (rational explanation)

[d.kevin29]

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!

Knowing how intense and crazy volatile market sessions are, it could happen at any time but the price would be pulled back shortly. The '17 hype, but on steroids.

The moves will play just the way whales want: they accumulate, price goes up, whales get rich, poor people invest at high levels, and then whales sell and make insane profits. The late investors (>70%) will keep losing while the whales (probably a handful of people) will start accumulating again.

It's a game not many are lucky enough to profit off.

[The Sceptical Chymist]

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

Once again, an opinion I could have written myself. 

Bitcoin could easily hit six figures within the next few years, but I don't think it would be because people are adopting it as a currency, nor because it competes with precious metals or fiat currency--it would be for the same reason it hit $20k in 2017, i.e., investors would be driving up the price because they want to make a profit.  And you're also probably right that most bitcoin buyers just want to see their dollar value grow.  I don't necessarily think there's anything inherently wrong with that, since that's the measure of its worth.  1BTC=1BTC, but that's meaningless if things aren't priced in terms of BTC.

I also hope that if bitcoin does get to those lofty price levels that it can stay there.  That's something I always worry about when it starts to blow up.  2017 was a euphoric year for anyone who owned bitcoin, but man....that hangover was a bitch.

[gentlemand]

I also hope that if bitcoin does get to those lofty price levels that it can stay there.  That's something I always worry about when it starts to blow up.  2017 was a euphoric year for anyone who owned bitcoin, but man....that hangover was a bitch.

It won't of course. It would be wonderful if it did.

If there's to be another explosion this will definitely be the last one where I'm near all in. It's just too goddamn dull to sit through another cycle of ruin. I want to be at least a semi impartial observer in future.

There's got to be a time when it does start to level off more, and of course it did this time compared to 2013 but it was still 83% down. I don't think this cycle will be the one to reach that phase but I hope at least it'll be a bit less violent in both directions.

[Dart18]

Then it might be a good theory or maybe not.
As you said, we should really be more careful now.

We dont really know if whales start dumping every bitcoin again in pursue for a larger profit now.
They just saw how many supporters of crypto currencies now and I bet they want to abuse that.
So larger figures might really be difficult to reach even until now.

[eli113]

https://time.com/4475048/which-came-first-chicken-egg/

bitcoin fits to be the egg !
any money value is possible , 6 figures or 12.

problem is the paradox insists :

when and if Bitcoin reach such heights ...
no sane people on earth will give a shit or sell.
trade directly to goods and services that is.

@OP you can change your title freely to : when money as we know will finally die ?   

my 3 satoshis !

Elias Ch.

[ScamViruS]

This is very likely to happen. Since the supply of Bitcoin is limited, the demand for Bitcoin is increasing day by day. Bitcoin prices will continue to rise as incredible as mass adoption. And this is why Bitcoin will go to 6 figure. But no one can say how many years it will take. First Bitcoin will have to break the previous ath, then the rest will know how long it will take.

[Febo]

BTC could reach six figures this or next year.

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.

I dont see much chances that Bitcoin would not reach six figures in next 3 years time. Two years can be a bit more risky, but in three years, Bitcoin would be really unlucky not to go over $100.000

[Wexlike]

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.

Looks that the next era after the halving will be the "make it or break it" point based on the premise if Bitcoin manages to rise to levels that make it an equivalent alternative for a store of value and an unit of account. All bets are on, at least mine.

Don't forget to take some profits along the way.

[206 bones]

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.

What a good post. This is very true. And the majority of people who are holding big money are old. They see BTC without respect, as if it where a joke. Like a geek toy. So they don't study it. Don't get sirious about it. But the thing is that nobody wants to be left behind. If BTC builds up more momentum & numbers start to spike, &  get massive. Then they will look at it siriously & they will finally see it's inmense value & more money will begin to enter. Slowly but finaly the big players will be interested. There will be more infrastructure, crypto banks, custiodans, regulation, etc. Money will move from the rich to the poor. Anyone that HODL hard for long term will benefit from this wealth transfer.

[gentlemand]

Looks that the next era after the halving will be the "make it or break it" point based on the premise if Bitcoin manages to rise to levels that make it an equivalent alternative for a store of value and an unit of account. All bets are on, at least mine.

Don't forget to take some profits along the way.

Reaching a certain high price level is flashy but if it doesn't stick around, and that seems mind bendingly unlikely, it doesn't mean much.

It won't magically pivot from bubblicious frenzy to a thoughtful and measured commodity without shitting itself into another coma somewhere in between.

If that high price was reached over 2-3-4 years of consistent growth then that's different but people are too prone to excitement still. If that's ever to happen it won't be anywhere near this cycle.

[Reid]

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?  

Thank you for pointing that out since we still have a lot of guys who have that kind of emotion.
It needs to be stopped.
It ain't really about the 6 figures which should happen, it is about bitcoin having a better value.
Something that will be supported by the mass and not just those who want to make profit out of it.
Usage is actually the best thing that could happen.

If only more merchants would look at the same way then bitcoin might be a blast by now.
6 figures is always possible and so does 2 and 3.

[Wind_FURY]

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.

You didn't understand the joke. Gentlemand said 6 digits within the next couple of years. I joked for him to make a "safe" prediction, 10 years, and don't make the same mistake John McAfee did.

Looks that the next era after the halving will be the "make it or break it" point based on the premise if Bitcoin manages to rise to levels that make it an equivalent alternative for a store of value and an unit of account. All bets are on, at least mine.

Don't forget to take some profits along the way.

Reaching a certain high price level is flashy but if it doesn't stick around, and that seems mind bendingly unlikely, it doesn't mean much.

It won't magically pivot from bubblicious frenzy to a thoughtful and measured commodity without shitting itself into another coma somewhere in between.

If that high price was reached over 2-3-4 years of consistent growth then that's different but people are too prone to excitement still. If that's ever to happen it won't be anywhere near this cycle.

I'll make it short, But hashing power ATH.

[target]

50 years later if BTC still lives, it may be 6 figures. I'd be long buried by that time. But the moment the price hit 6 figures, it will eventually plunge because most of us are just going to take profit til the market recovers again. The bear market will take place for long years again. I really do hope 6 figures will come to realize, I wanna buy myself a helicopter too like Kobe Bryant.

[pooya87]

Looks that the next era after the halving will be the "make it or break it" point based on the premise if Bitcoin manages to rise to levels that make it an equivalent alternative for a store of value and an unit of account. All bets are on, at least mine.

Don't forget to take some profits along the way.

Reaching a certain high price level is flashy but if it doesn't stick around, and that seems mind bendingly unlikely, it doesn't mean much.

It won't magically pivot from bubblicious frenzy to a thoughtful and measured commodity without shitting itself into another coma somewhere in between.

If that high price was reached over 2-3-4 years of consistent growth then that's different but people are too prone to excitement still. If that's ever to happen it won't be anywhere near this cycle.

the most important growth is the adoption growth and the market growth both of which are happening despite the long bear market that is created after the bubbles. in fact the bear market can also lead to more adoption since price would be coming down creating opportunities for people to enter or even for traders to make money shorting bitcoin.
and the adoption is always ongoing, with price drops it may be slowed down but it won't stop.
so i'd say these "frenzies" aren't that bad either. specially since they put bitcoin in the news nonstop.

[d.kevin29]

50 years later if BTC still lives, it may be 6 figures. I'd be long buried by that time. But the moment the price hit 6 figures, it will eventually plunge because most of us are just going to take profit til the market recovers again. The bear market will take place for long years again. I really do hope 6 figures will come to realize, I wanna buy myself a helicopter too like Kobe Bryant.

That's a very long target. If it takes 50 years for Bitcoin to get to $100k+, that means we're going to see a very powerful resistance in the market so I doubt it.

We're probably going to see it sooner than you expect. Especially with today's global debt and inflation.

It truly depends on the way markets develop. We cannot have a $2T market cap if the number of investors and holders doesn't continue to grow.

[yulionoo]

I think bitcoin has reached the price of 6 digits in two years, but that irrational is too high. at the moment the price of bitcoin is only $ 8k I think it will take longer to reach $ 100,000. and most people who hold bitcoin will definitely sell their bitcoin when bitcoin has reached a high price of $ 25k. and of course if many sell then this will make the price of bitcoin go down again. so I don't think bitcoin will reach $ 100k in 2021.

[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.

You didn't understand the joke. Gentlemand said 6 digits within the next couple of years. I joked for him to make a "safe" prediction, 10 years, and don't make the same mistake John McAfee did.

lol I got it now! 

[Lucius]

What a good post. This is very true. And the majority of people who are holding big money are old. They see BTC without respect, as if it where a joke. Like a geek toy. So they don't study it. Don't get sirious about it. But the thing is that nobody wants to be left behind. If BTC builds up more momentum & numbers start to spike, &  get massive. Then they will look at it siriously & they will finally see it's inmense value & more money will begin to enter. Slowly but finaly the big players will be interested. There will be more infrastructure, crypto banks, custiodans, regulation, etc. Money will move from the rich to the poor. Anyone that HODL hard for long term will benefit from this wealth transfer.

Thanks, I'm glad at least someone reads and appreciates my opinion

It's not just old people that are the problem when it comes to investing in BTC, but I agree that it is very difficult (or in some cases almost impossible) to give up old habits, and risk with something completely new, which is actually still in a kind of test phase. The tradition of investing in gold and silver as a means of storing the value has been around for hundreds if not thousands of years. Fiat has also taken deep roots in today's society, and BTC is still rather undervalued, regardless of all the risks it carries.

I also think that those who have invested their time or money in BTC in any way will profit in the long run, but I still consider it a very risky bet. But it is something that can only be proven with time, so far things are going their course and the future is not looking bad.

[1Referee]

and most people who hold bitcoin will definitely sell their bitcoin when bitcoin has reached a high price of $ 25k. and of course if many sell then this will make the price of bitcoin go down again.

It really depends. Smart money definitely has exits strategies, but most people (dumb money) act irrationally during either bear or bull markets.

I have seen it happen around me where people aren't satisfied with the number of coins that they hold and think it's better to add to their position instead of unloading. I think it's safe to say that we all have gone through a time where we wish we bought more coins instead of being so conservative. It's tough to see the price go up a lot while at the same time thinking about how much profit you could have had if you bought more.

In the end, it's better to just have a big fat hodl stack and sit on it for 5-10 years than to worry about missing out on the next bull cycle. The base floor of the price keeps increasing steadily, but gets a massive boost after each bull cycle, even after the 70-80% bear market.

[rodskee]

This is very likely to happen. Since the supply of Bitcoin is limited, the demand for Bitcoin is increasing day by day. Bitcoin prices will continue to rise as incredible as mass adoption. And this is why Bitcoin will go to 6 figure. But no one can say how many years it will take. First Bitcoin will have to break the previous ath, then the rest will know how long it will take.

yeah bitcoin has limited supply but there are also altcoins flowing  in the market so the demand in Bitcoin will lessen when the altcoins comes to their own functions,remember that all these currencies has their own service and products offered that can help the people in their daily lives so i believe that when this happen Bitcoin will be the ranked number 1 still but alts will help him serve the people.