BTC $100K-288K before Dec2021 ?

[Oceat]

$ 100k in 2021? If this is the case then Bitcoin should be above $ 20k this year,
because it is impossible for Bitcoin to rise to $ 100k- $ 288k in a short period of time,
there is no sign that Bitcoin is able to carry that price.

It is not impossible in a bitcoin that moves so fast when the green light has started, it might happen one year from now but what is the prediction with analysis? Of course, obstacles will be faced by various kinds of bearish markets, news from FUD or cornering cryptocurrency, of course there will be so that the uproar can occur and lower the bitcoin level to the lowest level. so the whales can take everything they want in controlling prices.

But for me it still won't happen even though some people believe it is not an easy thing, therefore we have to make bigger corrections about the price prediction that is too distant.

I believe these people overlooked the chart too much disregarding the entire effect of market fluctuations and other factors. Thus, this thread is obviously want to gain some FOMO but why would people believe to some random people whose name wasn't even that popular to us? Yeah, I may agree that it is not impossible but the time frame of gaining that price is just off the chart but maybe 4-5 years from now we might see that 6 digit price they have all been waiting.

[soulcity]

S2F will be a self fulfilling prophecy

[plr]

I don't think we can take this guy seriously because he did not challenge himself to eat his dick if his prediction did not come true, John McAfee did, so many speculators so many predictors, I don't want to ride on that kind of prediction but of course, will be happy if it reaches to that level, 2021 that's only two years, he has two years to convince whales to buy his prediction.

[Raflesia]

~~

It is not impossible in a bitcoin that moves so fast when the green light has started, it might happen one year from now but what is the prediction with analysis? Of course, obstacles will be faced by various kinds of bearish markets, news from FUD or cornering cryptocurrency, of course there will be so that the uproar can occur and lower the bitcoin level to the lowest level. so the whales can take everything they want in controlling prices.

But for me it still won't happen even though some people believe it is not an easy thing, therefore we have to make bigger corrections about the price prediction that is too distant.

I believe these people overlooked the chart too much disregarding the entire effect of market fluctuations and other factors. Thus, this thread is obviously want to gain some FOMO but why would people believe to some random people whose name wasn't even that popular to us? Yeah, I may agree that it is not impossible but the time frame of gaining that price is just off the chart but maybe 4-5 years from now we might see that 6 digit price they have all been waiting.

After ignoring some of the factors that have been mentioned, then you will realize that all forget about prices that are high again so still all that requires a process not just words, analyzing charts and other effects is not possible because predictions always miss market movements, then I'm not really sure except telling time where the price will go.

At the current price that has gone up, I am still watching for several factors such as fluctuations and some that cause the price to fall that is what we need to be aware of because everyone is always thinking about big risks.

[adaseb]

Here is the thing. Most of us know that it won't be easy for bitcoin to hit like $250K and stay at that price. Remember what happened when we hit $20K last time, we stayed above $19K for maybe 24 hours. And after that we quickly went below $17K and if you got lucky you could of sold at the high $16K. So getting to $250K and stay above $250K or even $100K is a different story from it wicking into that area and trading there for many weeks/months.

I have been hearing about his model for many many months. Is it possible? Sure it is but I don't think it can be achived in such little time such as 1 year. Maybe 4 years or so. And I think $288K is a stretch. This model has to eventually fail, if it doesn't then by like 2025-2030 it will predict like $50 million BTC/USD which is just not possible. It worked for the first few halving, maybe it will work during this halving , who knows.

[maydna]

I don't think we can take this guy seriously because he did not challenge himself to eat his dick if his prediction did not come true, John McAfee did, so many speculators so many predictors, I don't want to ride on that kind of prediction but of course, will be happy if it reaches to that level, 2021 that's only two years, he has two years to convince whales to buy his prediction.

Good. We need to have our own target to sell bitcoin, so whenever people out there tell their prediction, we will not think much because we are waiting for our target sell price. We don't have to feel annoyed or bother with their speculation because I think we may get something behind on their prediction, which will be useful to us.

If the bitcoin price can really increase to $100K-288K before Dec2021, I am sure that we will be happy to sell bitcoin, even in the smallest part of bitcoin, because that really means for us.

[davinchi]

The target to sell should be depending on your entry point and what you want as a goal from bitcoin. If you want to retire early that means it doesn't matter where you get in, you could buy right now at the highest price in recent years and you could still wait 10-20 years and retire early (depending on your age obviously) and that will be fine because in 20 years bitcoin will certainly be at least 10x and if you get some other altcoins you could make it 100x as well.

However if we are talking about short term profiting you should change your entry point and exit point accordingly, not every person can get out at $20k, maybe that person bought at 19.8? Why would he sell at $20k? Or maybe he got involved at $3k? Why should he wait for $20k? He could but he doesn't have to.

[Lucius]

Coming up to the tweet, I don' think $100k is possible in near future or atleast for another 5 years IMO. If we reach something equivalent, the total market cap could touch $2.1 trillion which could be impossible within 5 years as that would be worth atleast 0.28 times the total net value of gold ever mined.

One simple question, did you think it was possible that during 2017 1 BTC would reach a value of almost $20 000? Rare were those who in their speculations mentioned even half of that amount, but it still happened which is an indication that nothing is impossible. When you mention trillions, it may sound like a lot - but huge amounts of money (about 5 trillion) are practically nowhere (not invested), and just look at what companies like Grayscale are doing and that a trend is slowly emerging that leads all companies to transfer some of their funds to Bitcoin. Just imagine how many adaptations will happen when each of the almost 350 million PayPal users will be able to buy BTC through that platform, and pay for it in tens of millions of places where PP is available? Can't all that and what's yet to come up may result with $100 000, which is just a little more than 6 times the current price?

Adoption is another important factor which decides the so called $100,000 or $200,000 market. If people are still afraid to use bitcoin as a digital currency, then we would be enjoying the $5k to $20k level alone for a prolonged time period.

Bitcoin is not just a currency, and it is more than evident that it is mostly used as a store of value and that this is what gives it value. Of course, it would be desirable to use it as a currency when possible - but I have no doubt that this will also happen when LN becomes something common, and that is what users want, cheap and instant payments.

[Heisenberg_Hunter]

One simple question, did you think it was possible that during 2017 1 BTC would reach a value of almost $20 000? Rare were those who in their speculations mentioned even half of that amount, but it still happened which is an indication that nothing is impossible.

Never thought btc would touch $20,000 when I first got to know about it when btc was around $2,000. I would agree with your opinions here and the market maturation is very much different than what it was during 2017. 2017 was fueled more prominently by scammers like bitconnect and shitcoiners but in 2020 we are watching the real adoption in terms of PayPal and Square investing in bitcoin. It is very much true that, the history is repeating itself : Back in 2011 we dumped and pumped and it continued again with 2014-2017 dump and pump and again in 2018-2020 with a dump and pump. Either way, we are seeing more and more adoption, new highs etc.

When you mention trillions, it may sound like a lot - but huge amounts of money (about 5 trillion) are practically nowhere (not invested), and just look at what companies like Grayscale are doing and that a trend is slowly emerging that leads all companies to transfer some of their funds to Bitcoin. Just imagine how many adaptations will happen when each of the almost 350 million PayPal users will be able to buy BTC through that platform, and pay for it in tens of millions of places where PP is available? Can't all that and what's yet to come up may result with $100 000, which is just a little more than 6 times the current price?

+1 with this. PayPal moving over to crypto has been a really good welcoming change and Square betting on Bitcoin for long term has increased the confidence over bitcoin by newbie investors. Well these are the primary factors for bitcoin reaching $16k today and I believe we will be watching new highs this year. But what I meant was, these factors alone doesn't bring BTC to touch the $100,000 mark. We should be having real adoption where people buy almost all the basic utilities through bitcoin and for this to happen we need side chains like lightning to take over onchain transactions.

Right at this moment, after bitcoin touching $16k level I am remembering Hal again. In the mailing list, Hal writes :

As an amusing thought experiment, imagine that Bitcoin is successful and becomes the dominant payment system in use throughout the world. Then the total value of the currency should be equal to the total value of all the wealth in the world. Current estimates of total worldwide household wealth that I have found range from $100 trillion to $300 trillion. With 20 million coins, that gives each coin a value of about $10 million.

So the possibility of generating coins today with a few cents of compute time may be quite a good bet, with a payoff of something like 100 million to 1! Even if the odds of Bitcoin succeeding to this degree are slim, are they really 100 million to one against? Something to think about...

Hal

[kapalmabur]

what to say again, this time many people speculate about the price of Bitcoin, starting from $ 50k, $ 100, and now $ 200k,
for me everything is possible, keep in mind the volatility in Bitcoin is very high, we also will not know the fate of bitcoin In the next 5 years,
there will be obstacles to cryptocurrencies, regulations, criminal acts, and of course other factors that make crypto currency prices fall,
my advice is to do a proper analysis, don't get your hopes up, this is not 2010.

[Lucius]

2017 was fueled more prominently by scammers like bitconnect and shitcoiners but in 2020 we are watching the real adoption in terms of PayPal and Square investing in bitcoin.

There is no doubt that ICO was at its peak just at the time of the last ATH, but also that it was at that time that it was announced that CME would launch Bitocin futures - which many inexperienced people replaced with BTC ETF. Given that there was no pandemic then and the world has recovered considerably from the economic crisis, many small investors have invested in BTC - as evidenced by millions of newly opened accounts on crypto exchanges.

+1 with this. PayPal moving over to crypto has been a really good welcoming change and Square betting on Bitcoin for long term has increased the confidence over bitcoin by newbie investors. Well these are the primary factors for bitcoin reaching $16k today and I believe we will be watching new highs this year. But what I meant was, these factors alone doesn't bring BTC to touch the $100,000 mark. We should be having real adoption where people buy almost all the basic utilities through bitcoin and for this to happen we need side chains like lightning to take over onchain transactions.

Although some may have thought that BTC could independently conquer fiat, banks, PayPal and everything else - for now it is not possible to exclude all of them and achieve adaptation. Most, however, are not technically so literate that they know more than just turning on a computer and running a browser, and for them, the services offered by PP or banks are an easy entry into the world of Bitcoin. Once they understand the difference between custodial and non-custodial and "not your keys, not your coins" they will easily switch to proper use.

Right at this moment, after bitcoin touching $16k level I am remembering Hal again. In the mailing list, Hal writes :

Hal has already entered the legend, but I think it is not realistic to expect BTC to become the world's major currency. The world would really have to change drastically to accept this, and we all know that the world’s greatest powers like the USA, China or Russia are very aggressively protecting their national currencies. They are in a way part of the identity of a nation, so that is understandable - and I personally, although I live in the EU, do not consider the Euro desirable and I would like to keep my national currency.

[ethereumhunter]

what to say again, this time many people speculate about the price of Bitcoin, starting from $ 50k, $ 100, and now $ 200k,
for me everything is possible, keep in mind the volatility in Bitcoin is very high, we also will not know the fate of bitcoin In the next 5 years,
there will be obstacles to cryptocurrencies, regulations, criminal acts, and of course other factors that make crypto currency prices fall,
my advice is to do a proper analysis, don't get your hopes up, this is not 2010.

We will see many speculations about the bitcoin price soon, especially if the bitcoin price increases again. The volatility of bitcoin will be like that, and we need to watch closely if we want to use the volatility for our benefits. I hope that bitcoin will grow in the next 5 years, and many people from all countries will know and use bitcoin because bitcoin can give them benefits to make money, and not just for the investment.

[Heisenberg_Hunter]

There is no doubt that ICO was at its peak just at the time of the last ATH, but also that it was at that time that it was announced that CME would launch Bitocin futures - which many inexperienced people replaced with BTC ETF. Given that there was no pandemic then and the world has recovered considerably from the economic crisis, many small investors have invested in BTC - as evidenced by millions of newly opened accounts on crypto exchanges.

Even though 2014 had the needed pump to bring in more investors and newbies, 2017 and 2020 would always be remembered as the game changer in the history of bitcoin. With the year nearing its end back in 2017, bitcoin had been trending globally and the price was highly speculative to make a bet. Back in 2017, no one really got to know why bitcoin was rising other than a few huge pumps and dominance from the shitcoin market. Now in 2020, we are experiencing another high but we are globally facing a lot more problems than what we had in 2017. Covid has changed the job market, US elections are swinging like never before with Trump not conceding the election results and more importantly there are more people searching for job instead of creating one. We never really know when we would recover from virus and get back again to the normal state as we were in these past years.

Although some may have thought that BTC could independently conquer fiat, banks, PayPal and everything else - for now it is not possible to exclude all of them and achieve adaptation. Most, however, are not technically so literate that they know more than just turning on a computer and running a browser, and for them, the services offered by PP or banks are an easy entry into the world of Bitcoin.

At the moment we need middleman like PayPal, Binance and other key players to bring in more adoption. Your avatar (spending-bitcoin.com) shows that merchants accepting bitcoin are rising at an enormous rate and with PayPal entering the scene we would be seeing insane adoption once virus nears its end.

[royalfestus]

5 years ago people dont really believe most of the prediction with 10x-20x even in 4 years but now we can predict more than the 20x in just 12 months time. This time we are expecting 20x in $150k add-up, what a ridiculous achievement it will be, all by just waiting patiently. The market is bigger now, more traders, exchanges, Institutional investors and more coins. These will bring huge fund when the FOMO starts, We will have the Bitcoin rally before the alt season, I hope.

[livingfree]

I don't think we can take this guy seriously because he did not challenge himself to eat his dick if his prediction did not come true, John McAfee did, so many speculators so many predictors, I don't want to ride on that kind of prediction but of course, will be happy if it reaches to that level, 2021 that's only two years, he has two years to convince whales to buy his prediction.

The prediction of McAfee for bitcoin to become $1M at the end of 2020 has already been ignored by most. And this guy doesn't have to create a challenge like that because it doesn't make sense anymore.

He's only relying to the stock to flow model and that's a very popular model and chart if you are about to search it. The predictions using that chart really shows high price. You can believe or not but, as you know, holding is holding whether you hold for a year or two still you will surpass 2021.

[exstasie]

I have been hearing about his model for many many months. Is it possible? Sure it is but I don't think it can be achived in such little time such as 1 year. Maybe 4 years or so. And I think $288K is a stretch.

Bitcoin went up almost 23x between December 2016 and December 2017. From here that would be ~$370K. So it's really not that crazy.

Personally I'm hoping things will progress more slowly, with a bit more 2016-style consolidation below the previous ATH. I'd love to see S2F get invalidated and PlanB's followers capitulate, and then see the market bubble up to $300K 6 months or a year afterwards.

This model has to eventually fail, if it doesn't then by like 2025-2030 it will predict like $50 million BTC/USD which is just not possible.

Agreed.

[adaseb]

I have been hearing about his model for many many months. Is it possible? Sure it is but I don't think it can be achived in such little time such as 1 year. Maybe 4 years or so. And I think $288K is a stretch.

Bitcoin went up almost 23x between December 2016 and December 2017. From here that would be ~$370K. So it's really not that crazy.

Personally I'm hoping things will progress more slowly, with a bit more 2016-style consolidation below the previous ATH. I'd love to see S2F get invalidated and PlanB's followers capitulate, and then see the market bubble up to $300K 6 months or a year afterwards.

This model has to eventually fail, if it doesn't then by like 2025-2030 it will predict like $50 million BTC/USD which is just not possible.

Agreed.

Yes but back in 2016, how many people do you know that have heard of bitcoin prior? Unless you mentioned to your friends or family , most people never heard of it before. Now most people have heard about it one time or another.

The adoption that happened in 2017 was huge compared to the past and I think its also larger than the adoption that we are getting now. This huge surge of new investors is what brought BTC from $600 to $20000 in such little time. Now however look at Google trends for "bitcoin", not even close to what it was before.

That's why I don't think we will see the 23x as we did in the last cycle. The paypal route is great because it makes it easy to buy and hold BTC. So the onramp is enabled for millions and they don't need to open a exchange account. Even my dad has a Paypal account and he has no idea how to use a computer pretty much.

The slower progress would be good however BTC whenever it breaks ATH, it usually moves exponentially up. Usually it progresses slowly when it reverses from the bear market. However who knows, maybe this time it will be different.

[OgNasty]

It looks more likely by the day that we hit 200K in 12 months.  Watching the market factors that power this increase as the 4-year fractal repeats itself is always extremely interesting from a financial learning perspective. 

[exstasie]

Bitcoin went up almost 23x between December 2016 and December 2017. From here that would be ~$370K. So it's really not that crazy.

Personally I'm hoping things will progress more slowly, with a bit more 2016-style consolidation below the previous ATH. I'd love to see S2F get invalidated and PlanB's followers capitulate, and then see the market bubble up to $300K 6 months or a year afterwards.

Yes but back in 2016, how many people do you know that have heard of bitcoin prior? Unless you mentioned to your friends or family , most people never heard of it before. Now most people have heard about it one time or another.

The adoption that happened in 2017 was huge compared to the past and I think its also larger than the adoption that we are getting now. This huge surge of new investors is what brought BTC from $600 to $20000 in such little time. Now however look at Google trends for "bitcoin", not even close to what it was before.

In my opinion you're thinking about this too rationally. Markets, and especially bubbles, aren't rational. Assuming that every exponential growth cycle must be significantly smaller than the previous one is going to leave a lot of people selling their coins too cheap.

It really doesn't matter how many people have heard of Bitcoin. No matter how huge you think adoption was in 2017, only a small minority of people actually own BTC. The same goes for institutions, and among most institutions that are invested in crypto, it constitutes only a tiny fraction of their portfolio.

We haven't even arrived in the early majority. This is still the early adopter phase.

I also think people tend to focus way too much on the demand/adoption angle, without considering the supply side. The collective refusal to sell (HODL!) is an extremely strong force for price.

[coin-investor]

There's no such thing as accurate prediction when it comes to predicting the price of Bitcoin in a market at a given date or even year, only newbies will believe this even those who started out in Bitcoin cannot accurately predict the right price at a given date, even if you are good in reading chart or data, you can predict some period but you cannot go fast 50% of your prediction accurately, it's time for people to get the fact.