Bitcoin will Hit over 700% or $250k is this possible?

[BitcoinPanther]

Bitcoin (BTC) Will Explode by Over 700%, According to CEO of $80,000,000,000 Asset Manager: Report



According to the news, the CEO of global investment manager VanEck that Bitcoin will possibly hit 732% or around $250,000 because institutional investors and governments will drive Bitcoin’s price appreciation. Jan Van Eck is the CEO of  the $80.4 billion asset.

“Investors see it as a complement to gold. That’s the short version. Bitcoin has limited supply; the supply is visible. And it’s very hard, almost impossible, to change that. Bitcoin will go to half the market cap of gold, or $250,000 a Bitcoin, but that could take decades. It’s hard to put a timeframe on it.”

He also stated that Bitcoin is establishing itself as threat to gold.  He also believe that in the long run Bitcoin will have more appreciation due to institutional and government adoption.

“Bitcoin has further price appreciation because it’s maturing. And its institutional adoption is increasing every year. It isn’t just institutional investors, but also governments around the world that are looking to it as a useful asset.”

This is probably what makes him to think that the price of Bitcoin will be greatly appreciate :

“Part of the demand for gold has been siphoned off into Bitcoin, which is emerging as a long-term competitor to gold…

Gold was the primary asset, but sometimes people bought silver or other precious metals. People looking for a store of value will look to gold, but also to Bitcoin. We’re in the middle stages of that adoption cycle, and there is further upside.”

Given his belief, I think it is plausible to think that Bitcoin will really appreciate because of the possible investment shift from gold to Bitcoin.  Though it is questionable whether it will hit $250k while the previous hype of $100k is far from happening.  I don't know what is his motive on releasing this kind of statement during the bear market. Is he trying to reverse the current trend with this kind of speculation?  He said it will take long time but I wonder how long do you think it will take for Bitcoin to get into this kind of price range?


Source: https://dailyhodl.com/2022/06/11/bitcoin-btc-will-explode-by-over-700-according-to-ceo-of-80000000000-asset-manager-report/

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[Solosanz]

Man, I tell you
Stock to flow analysis by Plan B who predict last year we will reach $100K in the last year didn't even correct, now why we should believe this self pro claimed expert who speculate Bitcoin will hit $250K?

Given how scarce and many people including government adopting Bitcoin, we can reach far higher than $250K to be honest. But talking it without any proof isn't make sense.

[bittraffic]

We are all Bitcoin believer here that's for sure and every time there is a prediction like this, it always gives hope that tomorrow will be better. Unfortunately Vaneck didn't say tomorrow or when the price will go $250K. It could be 2025?

The crypto bill of 2022 has to be ironed first to make BTC as if the government had legitimized it for everyone's doubt.

[Lucius]

He said it will take long time but I wonder how long do you think it will take for Bitcoin to get into this kind of price range?

If we take into account that after each halving the price increases, but that such a percentage decreases each time - let's say that after 2024 the halving price of the last ATH (about $70k) increases by x3 we would be close to the price Van Eck talks about. If the increase were only x2 (about $150k) then we would probably have to wait until 2028/29, which would roughly mean that his speculation could be realized by the end of this decade.

I'm much more optimistic than him who says it will take decades to make that happen - but at the moment I don't believe it will take that long.

[Wilhelm]

Yes it's very possible but it might only come in 2024

[mk4]

Yes it's very possible but it might only come in 2024

You really make it sound like 2024 is far away. If anything, don't you think that $250k in merely 2 years is too much of a stretch? Because it's highly likely to take more years than that lol.

[Wilhelm]

Yes it's very possible but it might only come in 2024

You really make it sound like 2024 is far away. If anything, don't you think that $250k in merely 2 years is too much of a stretch? Because it's highly likely to take more years than that lol.

Take a look at the graph and $250k becomes a possibility in 2024 and inevitable in 2034
It's up to you to determine where the upper bound of the channel hits.

https://medium.com/quantodian-publications/bitcoins-natural-long-term-power-law-corridor-of-growth-649d0e9b3c94

[serjent05]

Definitely, this kind of price range will come to a realization, and it looks like he is expecting far longer time for the price to go that range.

“Investors see it as a complement to gold. That’s the short version. Bitcoin has limited supply; the supply is visible. And it’s very hard, almost impossible, to change that. Bitcoin will go to half the market cap of gold, or $250,000 a Bitcoin, but that could take decades. It’s hard to put a timeframe on it.”

But in consideration of the halving, I greatly agree with Lucius given the logic and calculation of the price trend of Bitcoin,  the possible price range of Bitcoin after 2 halvings (2028/29) would possibly hit more than $250k.

Take a look at the graph and $250k becomes a possibility in 2024 and inevitable in 2034
It's up to you to determine where the upper bound of the channel hits.

https://medium.com/quantodian-publications/bitcoins-natural-long-term-power-law-corridor-of-growth-649d0e9b3c94

Extracting the graphical presentation from the quoted article:



This graph makes it clearer that the speculation will highly possible to happen in the given time.

[Wilhelm]

Definitely, this kind of price range will come to a realization, and it looks like he is expecting far longer time for the price to go that range.

“Investors see it as a complement to gold. That’s the short version. Bitcoin has limited supply; the supply is visible. And it’s very hard, almost impossible, to change that. Bitcoin will go to half the market cap of gold, or $250,000 a Bitcoin, but that could take decades. It’s hard to put a timeframe on it.”

But in consideration of the halving, I greatly agree with Lucius given the logic and calculation of the price trend of Bitcoin,  the possible price range of Bitcoin after 2 halvings (2028/29) would possibly hit more than $250k.

Take a look at the graph and $250k becomes a possibility in 2024 and inevitable in 2034
It's up to you to determine where the upper bound of the channel hits.

https://medium.com/quantodian-publications/bitcoins-natural-long-term-power-law-corridor-of-growth-649d0e9b3c94

Extracting the graphical presentation from the quoted article:



This graph makes it clearer that the speculation will highly possible to happen in the given time.

Thanks I couldn't be bothered to extract the image on the phone whilst on the go   #nohomo

[mk4]

Take a look at the graph and $250k becomes a possibility in 2024 and inevitable in 2034
It's up to you to determine where the upper bound of the channel hits.

https://medium.com/quantodian-publications/bitcoins-natural-long-term-power-law-corridor-of-growth-649d0e9b3c94

I'm going with the typical "Past performance is not indicative of future results" on this one. Certain patterns like this one (and like S2F) can occur, but will break at some point; 'when' is the question.

But yea — not saying that it's impossible, but I really wouldn't bet on it.

[Wilhelm]

Take a look at the graph and $250k becomes a possibility in 2024 and inevitable in 2034
It's up to you to determine where the upper bound of the channel hits.

https://medium.com/quantodian-publications/bitcoins-natural-long-term-power-law-corridor-of-growth-649d0e9b3c94

I'm going with the typical "Past performance is not indicative of future results" on this one. Certain patterns like this one (and like S2F) can occur, but will break at some point; 'when' is the question.

But yea — not saying that it's impossible, but I really wouldn't bet on it.

+1 because there's currently a lot of disruptions in the world causing patterns to be broken or delayed etc.

[GeorgeJohn]

I'm responding to this topic, because I know vividly that bitcoin price is rotational and many people speculate about the Bitcoin price. so on my own it is impossible that bitcoin price or value will you reach to 250k this year because starting from last year December and earlier this year 2023 bitcoin price has been fluctuating in price. And if I may say the price please speed up 250k it can't be 2025 but above 2025.

[Wilhelm]

I'm responding to this topic, because I know vividly that bitcoin price is rotational and many people speculate about the Bitcoin price. so on my own it is impossible that bitcoin price or value will you reach to 250k this year because starting from last year December and earlier this year 2023 bitcoin price has been fluctuating in price. And if I may say the price please speed up 250k it can't be 2025 but above 2025.

Tesla and Amazon disagree  

[LFC_Bitcoin]

$250,000 will happen definitely but not for a few years. The next halvening is in 2024, as usual it will cause a supply shock & 6 months or so later we’ll start to go up. $250,000 is a reasonable target to reach in 2025.

[BitcoinPanther]

It would be a never-ending debate whether $250k will be broken by the next having or the next decade until it happens, but what interests me is why of all time, the CEO of global investment manager VanEck released this statement during this bear market.  Is he hyping the Bitcoin market now?  If he does, I only think of one reason, probably he has accumulated a good sum of BTC and is about to unload it to market if ever investors took the bait.  Then buy on the dip, and replenish his BTC while making a profit.  But the question would be, is he that influential to reverse the current bear market trend?

[sheenshane]

According to the news, the CEO of global investment manager VanEck that Bitcoin will possibly hit 732% or around $250,000 because institutional investors and governments will drive Bitcoin’s price appreciation. Jan Van Eck is the CEO of  the $80.4 billion asset.

It's possible.
But have you noticed there's no specific date?  It might be 4 years after now when after Bitcoin halving will come which the most anticipated events that expected Bitcoin price will hit into another ATH.  That was might the CEO of a global investment manager meant.

We're all here as Bitcoin believers, but predictions such as this will be impossible to happen after next week or next month but I'm confidently sure that Bitcoin will reach this price range without a specific date and time.

[mk4]

+1 because there's currently a lot of disruptions in the world causing patterns to be broken or delayed etc.

Precisely! In the last cycles we didn't have a freakin pandemic and a crapload of cash being printed by the federal reserve. I wouldn't be surprised if the s2f didn't break if we didn't have this global economic fiasco. But yea, some global event messing everything up is pretty inevitable.

[Despairo]

But the question would be, is he that influential to reverse the current bear market trend?

It's possible but no one know the truth since only centralized exchanges can see his balance. Even he announced he have bought x Bitcoin, but it's still just a words and we can't know if he really have full control of that's address until he can sign a message, obviously he will not do it since it's just wasting time and he didn't get anything after that.

Now the price continue to decrease and hit $27K currently, his words doesn't change anything to the market condition.

[somac.]

But the question would be, is he that influential to reverse the current bear market trend?

It's possible but no one know the truth since only centralized exchanges can see his balance. Even he announced he have bought x Bitcoin, but it's still just a words and we can't know if he really have full control of that's address until he can sign a message, obviously he will not do it since it's just wasting time and he didn't get anything after that.

Now the price continue to decrease and hit $27K currently, his words doesn't change anything to the market condition.

250k is a certainty, not a possibility. It's just the length of time that is up for debate.

[ethereumhunter]

Touching the price of $250k is possible but unfortunately, we don't know when bitcoin will hit that price and can only wait while preparing as many bitcoins as possible to sell at that price. With the current state of bitcoin already dropping to the $27k-$28k level, this gives us the opportunity to buy more bitcoins to hold on to until the price starts to increase.

Once we have enough bitcoins, we can only be patient and leave the market if we can't see the ups and downs of the price because the price will go up and down more often. But if you still want to try to buy low and sell high, you have that opportunity and make the most of it.