Hello Bitcoiners!
Marry christmas to you all! wishing you the best for this new year to come.
Our beloved Bitcoin just made a new ATH and it's now playing in 22-23k range. That made me think about this question:
What will your reaction be if BTC reaches 500k usd or 1M usd in the future?
These new ATH's made me stop forecasting for these days and think about +20 years.
I always have linked Bitcoin to a global financial crysis, i don't know why but we might see some damage to some countries soon because of this unexpected growth.
Share your thoughts about Bitcoin/ The future of the world.
My reaction will be to think that it will be getting close to value parity. e.g. it will be close to reaching it's true objective value.
Whenever (if) bitcoin grows another 1.5 to 2 orders of magnitude it will likely be closer to a stabilization point. It should become less volatile because many people will be using bitcoin for long term asset protection or transacting in bitcoin instead of cashing in and out.
Given the current number of people or companies etc who currently own bitcoin is so low, the market is there. When people realize even a 1% allocation will help protect themselves and their assets, another 1.5 orders of magnitude seems small. The number of orders of magnitude in the fiat price that bitcoin has experienced so far is huge. Another 1 or 2 seems small in comparison, particularly when you get people (a) investing in it for long term or (b) buying it so that they can use it and stay in it as compared to short term traders. The percentage at that point that will be available to be traded will be miniscule.
