We're almost half way to 100x (250k)

[exstasie]

In 2018 we saw drops down to ~2900 and recently we dropped to around $4000, we're now already 600% up from the $4000 figure. I don't see $250k being completely out of reach by now, since an extra move as big as we've seen ever the past few months would take us to $120k.

It helps to mention the exchange you're referring to. None of the major exchanges (Coinbase, Bitstamp, Bitfinex, etc.) made it past the $3,100s. Maybe you should be looking at $300K+ instead of $250K.

What significance does 100x from the bottom have, to you? Some sort of psychological barrier?

$3,122 (Bitstamp) x 100 = $312K, which is smack in the middle of my target zone, which is based on extrapolations of past bull runs once they pass an historic ATH. Interesting!

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[maxreish]

That an impossible thing to see this year, we're just only about to see it up to $35k and yet many speculated until thousands? Even if the price struggles to beat $20k this year, the heart warming convictions were still there raging.
Dreaming isn't bad, but we need to optimized our mindset in order to prevent frustrations.

Of course we can't reach that this year but we are talking about the possibilities here. Since 400x increase from 2018 happened, $120k will also be possible to happen for the upcoming years. Remember that  anything is possible and new ATH achieved.

Other speculated the price of btc more than 200k usd and who knows? Ive seen how bitcoin performs through the years and we can definitely expect optimistic approach from btc.

[Ryker1]

Well, we will never know. That’s why the only option is to hodl wait until the right moment.
Considering the fact that banks are thriving and corona is still there, there is a chance that we can actually reach that destination. Especially people nowadays have access to the internet and knows how to study on their own. They will soon realize that Bitcoin is offering them the best or the greatest thing they need on their finance. Sooner, --a recession will be there, bitcoin will be the only option people will have so we the pioneers will benefit from it.

[dothebeats]

Possible, but my feeble mind can't still comprehend where the money would come from in order to reach $250k. I know it's possible and doable in a few decades but with other contending assets that are still favored by many of the rich people and laymen alike, it'll be hard for bitcoin to get there. Fair analysis based on the movements of the price in the past years, though that's not the only factor that affects future price trends but it sure is one.

[LogitechMouse]

The magic word for now is "HODL, HODL, HODL".

We've seen Bitcoin moving upwards and upwards this past few weeks and I know that this will be the trend in the future so $250k per Bitcoin is possible. It isn't a matter of it will happen but it is a matter of when it will happen because we're expecting it to happen already .

HODL, Know when to enter and when to exit.

[exstasie]

Possible, but my feeble mind can't still comprehend where the money would come from in order to reach $250k.

Crazy bubble valuations aren't just a matter of demand, but of supply. People tend to focus on the inflows (demand) required to maintain certain BTC prices. What they don't think about is what happens to prices when the market collectively refuses to sell, and coins disappear from the ask side and from exchanges entirely. When everyone HODLs, there are significantly less coins for sale. That means it takes much less demand to push prices higher.

The blow-off top phase of the bubble (the vertical end stage when exponential gains come extremely fast) doesn't last long. In relative terms, very little volume is traded at the top. The market is so illiquid that it's impossible to predict just how high it'll top out. $250K is perfectly reasonable. So is $500K. Why not?

The market won't necessarily stay there.

I know it's possible and doable in a few decades but with other contending assets that are still favored by many of the rich people and laymen alike, it'll be hard for bitcoin to get there.

Smart money knows BTC will eclipse gold's gains many times over. I think we'll see lots of small positions in BTC (in terms of total portfolio size) by institutional investors and the rich in the coming years.

[btc_angela]

The magic word for now is "HODL, HODL, HODL".

That's always been the case, buy in dip and then HODL, there's no rocket science in crypto if you wanted to make money. But it's going to be very tough mentally, specially like holding for 1-3 years.

We've seen Bitcoin moving upwards and upwards this past few weeks and I know that this will be the trend in the future so $250k per Bitcoin is possible. It isn't a matter of it will happen but it is a matter of when it will happen because we're expecting it to happen already .

HODL, Know when to enter and when to exit.

We have seen many predictions, from $100k-$300k, if you hear it, everyone becomes very excited. But later they realised that it will not be an easy road for bitcoin to make that run to that price. We need more money to pour in the next 12-24 months in order to get to that price.

[Poker Player]

Crazy bubble valuations aren't just a matter of demand, but of supply. People tend to focus on the inflows (demand) required to maintain certain BTC prices. What they don't think about is what happens to prices when the market collectively refuses to sell, and coins disappear from the ask side and from exchanges entirely. When everyone HODLs, there are significantly less coins for sale. That means it takes much less demand to push prices higher.

I was just thinking about that.

In recent pre-ATH times we saw two things:

1) Withdrawals of bitcoin from the exchanges.
2) Growing demand from institutional investors.

When people withdraw the bitcoin to their paper or hard wallet it is because they do not intend to trade with it, but to hold, and this reduces the offer. On the other hand, institutional investors don't buy 1 bitcoin or 0.1, they buy large amounts, making demand very high.

If this trend continues in the future, we may see prices that we now consider crazy, and even more so if we consider that institutional investors do not buy bitcoin to trade as individuals do.

[passwordnow]

it's normally not the best time to buy when everyone's bullish or if it is it's riskier to do

MicroStrategy has just done this. And although many are surprised by it I find it normal:
1. It's consistent with the rule to buy more times over longer period of time.
2. It validates the analysis that the bull run (or bubble?) is just at the beginning.

This is a very good point to think of. MicroStrategy and other institutions have been continuously buying even if it's in the bull run. I know they're better than me if it's about the market and there's specific reason why they do that despite it's not that advisable to buy at the top.
Maybe this top that we're having and experiencing lately is just the start of it all. And later on, this top will eventually be covered by another top and so on and so forth. If there's a lesser supply that's in the circulation then the miners are the ones that would take all the coins at ATH price to sell it to these institutions if there's not that much supply anymore in exchanges and OTC markets.

[ethereumhunter]

We have seen many predictions, from $100k-$300k, if you hear it, everyone becomes very excited. But later they realised that it will not be an easy road for bitcoin to make that run to that price. We need more money to pour in the next 12-24 months in order to get to that price.

Yeah, that is right. With many predictions that people can see, they will invest their money in bitcoin and wait for the price to start a rally to the high price. But we are still too far from $100k, and we do not know when it will happen. Maybe in the next year or the next two years more, we do not know. All we can do now is just prepare by making more and more bitcoin because if we do not do that, we will miss the chance to make a big profit.

[Lucius]

Nothing is impossible if this trend continues, which means that large investors continue to invest more and more, which means that in the first half of the next year BTC could reach a market cap of $1 trillion, which would mean that the price would be around $50 000. While it may seem to some that such a high price for BTC could slow investment, it should not be forgotten that there are companies and funds that have trillions under their management (example Fidelity $8 + trillion).

Back in 2018, Tim Draper published his forecast for 2022/23, and then he announced that the price for 1 BTC could then be exactly $250 000. The number is big, but just 9 months ago we were below $5000, and only a few people talked about the new ATH before the end of this year - I also did not personally believe that this would happen given the situation in which the whole world finds itself.

[Febo]

Possible, but my feeble mind can't still comprehend where the money would come from in order to reach $250k. I know it's possible and doable in a few decades but with other contending assets that are still favored by many of the rich people and laymen alike, it'll be hard for bitcoin to get there. Fair analysis based on the movements of the price in the past years, though that's not the only factor that affects future price trends but it sure is one.

People are keep buying. When marketcap goes up 1 trillion that dont mean that for 1 trillion BTC was bought. People dont sell and their bitcoins inflate marketcap. Also Satoshi's coins. And other lost coins. But then it is also opposite. In bear market when Bitcoin marketcap decrease for a trillion, that dont mean a trillion dollars was sold for Bitcoin. This is the reason why Bitcoin price is so volatile.

[darewaller]

Why are you insisting on calculating with 100x or 50x or any x in the end? Because things are not as simple as you might imagine, they are on contrary very difficult the higher you go. Going from 1 dollar to 2 dollars wasn't that hard, it was quite easy in fact, it required only few hundred dollars at most probably, or maybe a few thousand dollars at most.

Rising from $100k to $200k will require tens of billions of dollars, probably over hundred billion dollars. How could you think "if the bottom was like this, and the top is like that, if we do the same thing from here we are going to be super high"? Because you can't calculate it that way, it is literally impossible to expect the same thing to be done over and over again just because it has happened once, specially not going to happen at higher prices because it is much harder and difficult.

[exstasie]

Crazy bubble valuations aren't just a matter of demand, but of supply. People tend to focus on the inflows (demand) required to maintain certain BTC prices. What they don't think about is what happens to prices when the market collectively refuses to sell, and coins disappear from the ask side and from exchanges entirely. When everyone HODLs, there are significantly less coins for sale. That means it takes much less demand to push prices higher.

I was just thinking about that.

In recent pre-ATH times we saw two things:

1) Withdrawals of bitcoin from the exchanges.
2) Growing demand from institutional investors.

When people withdraw the bitcoin to their paper or hard wallet it is because they do not intend to trade with it, but to hold, and this reduces the offer. On the other hand, institutional investors don't buy 1 bitcoin or 0.1, they buy large amounts, making demand very high.

If this trend continues in the future, we may see prices that we now consider crazy, and even more so if we consider that institutional investors do not buy bitcoin to trade as individuals do.

Yep, it's quite a potent combination. The dynamic is worth mentioning because people try to apply rational ideas ("there is a limited amount of money, so for BTC to rise it must come from somewhere else, so BTC's market cap can't possibly be bigger than gold") to an irrational market. It doesn't work. With an extremely limited available supply, extreme and totally irrational valuations are possible. We're talking about the blow-off top of an exponential bubble. Market caps are not physical barriers.