A victory for Bitcoin

[o48o]

Coinbase's former CTO Balaji Srinivasan's prediction about bitcoin price is not realistic for most people(1 btc=1 million USD). Some consider such activities as a tactic for his personal campaign. Some others consider as a reflection of his long-held views on Bitcoin. However, it is easy to imagine Srinivasan's bold prediction of 1 million in 90 days made a big impact on the Bitcoin market. In my opinion, it is not important how much Bitcoin can increase in value in 90 days because people who believe in Bitcoin do not invest in it for a short period. Srinivasan's prediction has shown that Bitcoin is likely to reach new heights. Coinbase's former CTO Balaji Srinivasan should be respectful of his recent thought of bitcoin.

Although Srinivasan's recent prediction may seem absurd to some, it is actually a very reliable prediction in the long term. He made this prediction based on the US banking system and hyperinflation, which makes it difficult to dismiss.
-cut-

Then why did he make short term prediction? I can see why many people would see 1 btc in $1M some day but predicting such a move in 90 days is just beyond delusional and can only hurt his credibility.
However i remain skeptical of that $1M target because if there's not going to be some new method for free energy, bitcoin in $1M most likely would need insane hash power and since govenrnments have been worried about the energy consumption in $50k, then think how much heat bitcoin would get in $1M.

[Tony116]

When investing in bitcoin, we have the right to dream and expect, I like people who are always optimistic about investing but don't be too delusional but realistic. I don't see his prediction having any impact, and he's nobody in this market

Dont know about Balaji Srinivasan's prediction but I wonder what impact this would have if the likes of Elon Musk said the same because the man does have the influence to convince people to take a keen interest and the media will equally pick up the story and have a ripple effect  , though his not the type that loves to speculate about crypto related matters unfortunately...

But I believe people like Elon will never do that, they support bitcoin but will never be too obvious or stupid to put a specific number in their prediction. Because they know that if they guess wrong, it will damage their reputation. We have seen Elon tweet about bitcoin many times but never talked about a specific number. Actually, I don't know who Balaji Srinivasan is, I only know him through this news. It can be seen that he's just trying to get attention, but I'm not going to bother and follow this guy, he's doing crap.

[FanEagle]

I would guess that 1 million will happen, it's just that it won't happen right now. 20 trillion is not as big as people think it is, we are talking about what 10+ trillion for gold marketcap already? It means that overtime bitcoin can become 20 trillion marketcap, that shouldn't be a difficult thing to achieve.

The trouble is not "will it happen" but when will it happen, because I believe that looking at how much nations print money these days, in 10-15 years we could have 1 million dollars per bitcoin, or latest in about 25 years. That is a long time to wait, and maybe it will happen earlier, but that doesn't mean that it will never happen, just not now.

[SirLancelot]

When Bitcoin was created, it's already a victory for us because we're have a choice to not trust government due to it's centralization and corruption, instead we can be own bank with Bitcoin. The victory of Bitcoin is because of the purpose and value, not only about the price. If price is the reason why Bitcoin is a victory, someone can create a new coin where the price is more expensive than Bitcoin.

If I remember there is a coin last time whose value is more than 1 Bitcoin but I don't have any update with that coin anymore but I am sure that BTC overtakes it now. Even the value of that coin is higher than in Bitcoin last time, Bitcoin is still on the first rank. That is how strong Bitcoin is.

I guess it's enough to say that Bitcoin is already victorious among other cryptos. Bitcoin is created to be decentralized but many governments are seem to disagree with it and that is why they are trying to create regulations. It may not be directly in Bitcoin but we are still feeling it. Anyway, Bitcoin is still Bitcoin and it was still different compared to the fiats.

[Cookdata]

I'm gonna be honest, I don't quite believe it will hit 1 Million dollar in such a short time, although I don't think it's impossible, but on the other side I think it will finally hit the so dreamed 100k, in 90 days, I truly believe it.

People will say whatever their mind says to them, they will say anything for attention, must of the guys that predict this kind of price are either attention seekers who invested $100 and expect bitcoin to give them 10x which is impossible right now. I wonder if they do check the chart of bitcoin before they predict this kind of thought from their mind. It took bitcoin more than 12 years to stabilize at this price, what more do you think will happen before we reach $1 million per bitcoin, we may one day if the fundamentals of bitcoin remain intact but I am not sure if we will have anything close that price even in 5 years to come if we are to be honest with ourselves.

[Frankolala]

Don't be deceived by any speculator,some of them are just saying what they like to get firm and followers. We are in the real life and not living a life of fallacy,I don't think this is possible for bitcoin price to hit $1m in 90 days. The price of bitcoin is 27+  which I don't see under which circumstance this will be possible.

Bitcoin is not a ponzi project and will never work like one. You are already in this forum,it is better you learn about bitcoin price speculation here,than listening to cock and bull stories from people out there who thinks they know everything or can predict the future accurately. Even after bitcoin halving,during the bull run when the price get to it's ATH,this is impossible.

[lionheart78]

Although Srinivasan's recent prediction may seem absurd to some, it is actually a very reliable prediction in the long term. He made this prediction based on the US banking system and hyperinflation, which makes it difficult to dismiss.

It is actually absurd.  Srinivasan's prediction has a timeframe and it is too short to make Bitcoin reach $1m let alone half a million dollars in just 90 days.  It isn't the price that is absurd but the time frame given.

We all know that in due time when adoption proliferate in every corner of the world. $1m per BTC is nothing because of it finite supply and the Bitcoin lost along the way of price realization.

Finally, i will say that people are learning to value BTC so we will be able to achieve it in the near future even if not in 90 days.

Learning the value is not enough if there is no adoption. Adoption creates demand that will make the price of BTC skyrocket.  So by simply learning the value and no adoption is involved, Bitcoin will never reach $1m let alone in 90 days.  

[CryptoRex.one]

https://i.imgur.com/TF4YnIF.jpg

https://i.imgur.com/8DLWOml.jpg     https://i.imgur.com/qEiXxa1.jpg     https://i.imgur.com/Jc4vJfl.jpg     https://i.imgur.com/X43RoKL.jpg

Coinbase's former CTO Balaji Srinivasan's prediction about bitcoin price is not realistic for most people(1 btc=1 million USD). Some consider such activities as a tactic for his personal campaign. Some others consider as a reflection of his long-held views on Bitcoin. However, it is easy to imagine Srinivasan's bold prediction of 1 million in 90 days made a big impact on the Bitcoin market. In my opinion, it is not important how much Bitcoin can increase in value in 90 days because people who believe in Bitcoin do not invest in it for a short period. Srinivasan's prediction has shown that Bitcoin is likely to reach new heights. Coinbase's former CTO Balaji Srinivasan should be respectful of his recent thought of bitcoin.

Although Srinivasan's recent prediction may seem absurd to some, it is actually a very reliable prediction in the long term. He made this prediction based on the US banking system and hyperinflation, which makes it difficult to dismiss.

Generally we know that what is capable of taking Bitcoin valuation to unprecedented heights is a market cap. Various institutional investments in Bitcoin have multiplied its market cap in recent times. Public companies like Tesla, Voyager Digital LTD, MicroStrategy are now investing billions of dollars in Bitcoin, which naturally adds to Bitcoin's adoption of legitimacy.

If one bitcoin is seen as equal to 1 million according to the current price of bitcoin, then a market cap of about 20 trillion is required. While it may seem like more at the moment, it can also be covered if a crypto revolution happens.

Another important reason why Bitcoin can reach higher in the coming days is its market dominance. Currently we can see that about 45 percent of the total investment in the market is in Bitcoin. When Bitcoin continues to rise above 65 percent or more, there will be a big change in the price of altcoins in the market and the market cap will also increase significantly.

Finally, i will say that people are learning to value BTC so we will be able to achieve it in the near future even if not in 90 days.

Almost 70% of all bitcoins have not moved for at least a year

This indicates a growing realization that bitcoin is undervalued

[Dewiana]

When investing in bitcoin, we have the right to dream and expect, I like people who are always optimistic about investing but don't be too delusional but realistic. I don't see his prediction having any impact, and he's nobody in this market, he's just making an impact for himself. Let's be more realistic, bitcoin is growing very fast, but so far, its acceptance level and the number of people using it are negligible for the world population. We still have a lot of challenges, and it takes time for bitcoin to achieve greater achievements. Instead of thinking about $1 million per bitcoin, think about the $100k goal first.

Currently, people have started competing to invest their money in crypto or bitcoin in coffee shops, millennial children have started to focus on earning income via bitcoin growth this year 2023 has started to pick up again after the 2022 break, although dozens of new coins have been released in the year
this is to compete with bitcoin yet, bitcoin is really a future asset that we continue to protect, and I'm sure that will break to its highest level this year.

[indah rezqi]

People will say whatever their mind says to them, they will say anything for attention, must of the guys that predict this kind of price are either attention seekers who invested $100 and expect bitcoin to give them 10x which is impossible right now. I wonder if they do check the chart of bitcoin before they predict this kind of thought from their mind. It took bitcoin more than 12 years to stabilize at this price, what more do you think will happen before we reach $1 million per bitcoin, we may one day if the fundamentals of bitcoin remain intact but I am not sure if we will have anything close that price even in 5 years to come if we are to be honest with ourselves.

I only consider such people as influencers, they can say anything about price predictions, but it's not proven afterwards. Remember about John McAfee? The man also predicted the price, but there was no proof.

I could agree if someone were to predict $100k in the next 2 years it would make sense because it is backed by strong fundamentals. But if it's $1M, it's just a dream.

[omgitsmehehe]

People will say whatever their mind says to them, they will say anything for attention, must of the guys that predict this kind of price are either attention seekers who invested $100 and expect bitcoin to give them 10x which is impossible right now. I wonder if they do check the chart of bitcoin before they predict this kind of thought from their mind. It took bitcoin more than 12 years to stabilize at this price, what more do you think will happen before we reach $1 million per bitcoin, we may one day if the fundamentals of bitcoin remain intact but I am not sure if we will have anything close that price even in 5 years to come if we are to be honest with ourselves.

Cryptocurrency is not a get rich quick scheme, it's a gradual process and we take risks everyday inother to earn profits from the space. 12 lengthy years can not be covered with just few days, exercising patience is the ultimate factor to key in profits. $100 flipping to $1000 is not an easy run-up because of the high volatility of the market. It's very difficult because there's presence of fluctuations and projects fails in the market. Bitcoin is a solid project in the space, although it's passing a difficult phase currently but there's room for a pump once the bull market reopen.

[lionheart78]

Almost 70% of all bitcoins have not moved for at least a year

This indicates a growing realization that bitcoin is undervalued

In an economic view of supply and demand.  with 70% unmoved, it means the market is being hoarded and creating an artificial scarcity of supply in the market.  We know that any market being hoarded and creating an artificial scarcity makes the price skyrocket.  This is a clear indication that the item(Bitcoin) is being sold at an overpriced value.  So when the time comes that this 70% is reinjected to the market, the valuation of Bitcoin will be greatly affected.

So in a scenario where that 70% is injected into the market and join the active circulation, the $1m realization will be greatly hampered unless the adoption catches up with the sudden inflow of these inactive Bitcoin supply.

[JoyMarsha]

When someone says that bitcoin will reach 1 million dollars in the future(10 years upward as the case may be), I will partially believe that person a little but not someone to give a time limit that bitcoin will reach 1 million dollars in 90 days. That sounds absurd to accept and believe.

It's really strange that there are still people in the cryptocurrency industry like you who are easily duped into believing that the price of bitcoin will reach $1 million in 90 days. Who on earth is capable of anticipating or believing such a figure? The price of the cryptocurrency is currently hovering between $27k and $28k+ and has not yet surpassed the $30 mark as was predicted before the end of the month. Someone wants us to believe an impossible future with him that bitcoin will reach a million dollars in 90 days. Is that not insane to think of?

[borovichok]

When someone says that bitcoin will reach 1 million dollars in the future(10 years upward as the case may be), I will partially believe that person a little but not someone to give a time limit that bitcoin will reach 1 million dollars in 90 days. That sounds absurd to accept and believe.

It's really strange that there are still people in the cryptocurrency industry like you who are easily duped into believing that the price of bitcoin will reach $1 million in 90 days. Who on earth is capable of anticipating or believing such a figure? The price of the cryptocurrency is currently hovering between $27k and $28k+ and has not yet surpassed the $30 mark as was predicted before the end of the month. Someone wants us to believe an impossible future with him that bitcoin will reach a million dollars in 90 days. Is that not insane to think of?

Believing what someone say, is just mere rumor, it's either the person is trying to capture the attention of the public and this are just noise that tend not to be given listening ears. Bitcoin is popular and gaining recognitions in countries all over the world. That alone proofs a solid promising future for Bitcoin and I'm confident that many pro traders and investors will benefit in double folds when the time comes. Bitcoin hitting $1M is totally unacceptable because it's not possible. However it's possible for Bitcoin to hit that figure but it will take a decade, crypto movement is gradual process and we have both bull and bear season. These season retrained the movement of crypto and there's no way Bitcoin will hit such significant figures within the range of 90 days.

[KiaKia]

This is nothing but a dream, before Balaji made this prediction there have been so many predictions like this in the past, and none of them became reality.

Bitcoin can one day become a million dollars in value but that's a very far journey in the future and it might never come true, maybe something better than Bitcoin will come and the whole focus on Bitcoin will be shifted to the new technology, who knows?

So let's face reality because that's the only thing we have right now, if Bitcoin is going to make a new ATH I do not expect more than 100k per BTC, wake up to reality.

[QueenVera]

When someone says that bitcoin will reach 1 million dollars in the future(10 years upward as the case may be), I will partially believe that person a little but not someone to give a time limit that bitcoin will reach 1 million dollars in 90 days. That sounds absurd to accept and believe.

I think there's something else behind this type of predictions that doesn't look achievable in the time they're predicting it to happen, maybe they're just trying to pump the market so they can sell their bags of Bitcoin. You know whales only cares about themselves so they sell false hope to get people pumped up then they dump on them in the market.
In 90 days which is just 3 months we'll still be in 2023 and the block rewards hasn't been halved by then that you'll start giving such predictions to happen to the price. This types of prediction is what is making people see the market as some kids show filled with emotional investors. We have to stop taking this guys serious with their prediction and focus.
Never invest because of a prediction you saw online from this influencers, Bitcoin could go as far as that price or even exceed it but it won't be happening soon and that's why you have to hold.

[DanWalker]

I would guess that 1 million will happen, it's just that it won't happen right now. 20 trillion is not as big as people think it is, we are talking about what 10+ trillion for gold marketcap already? It means that overtime bitcoin can become 20 trillion marketcap, that shouldn't be a difficult thing to achieve.

The trouble is not "will it happen" but when will it happen, because I believe that looking at how much nations print money these days, in 10-15 years we could have 1 million dollars per bitcoin, or latest in about 25 years. That is a long time to wait, and maybe it will happen earlier, but that doesn't mean that it will never happen, just not now.

Gold has taken hundreds of years to reach the $10 trillion market cap it is today, while bitcoin is only 14 years old, and it's not even widely accepted and popularized yet. So, to think of a future that surpasses the capitalization of Gold is a pretty far-fetched thing for me.
It can be said that it is very difficult to achieve that unless it is accepted by all governments, recognizing it as a rare asset like gold and becoming a reserve asset in countries' budgets. The future of bitcoin is still a question mark, I will not rush into illusions too soon.

[Nrcewker]

At first when bitcoin's price was low they thought it was impossible to reach $10,000. Then it reached $20,000, they said it is impossible to reach $50k. So when will they start trusting the price to reach $1M? I feel like they are one of those people who keeps disregarding bitcoin not because they want to, but because they have invested but wants to invite more people to invest just to pump the price.

Yes when more people invest, it leads to more demand for the coin. Now we know that the number of Bitcoins are fixed. So when the demand for something specific increases and at that time the supply of that specific asset is fixed, the price increases. This will create a simple effect of supply and demand and hence the price of Bitcoins will increase. So whatever the former CTO said can be achieved, but provided that the demand for coin also increases with a constant rate. I also believe the same that the price will increase very soon. So I would suggest each and everyone to accumulate as many Bitcoins as you can in this low price.

[YUriy1991]

In thinkh, Former Coinbase CTO Balaji Srinivasan's prediction of 1 BTC being worth 1 million USD in 90 days may seem unrealistic to some, but it has shown that Bitcoin has the potential to reach new heights. Srinivasan's prediction is based on the US banking system and hyperinflation, making it a reliable long-term prediction.

Institutional investments in Bitcoin by companies like Tesla and MicroStrategy have also increased its market cap and legitimacy. Bitcoin's market dominance of around 45% can lead to a significant increase in market cap when it rises above 65% or more. As people continue to learn about Bitcoin, it's likely that it will achieve significant growth in the near future.

[traderethereum]

In thinkh, Former Coinbase CTO Balaji Srinivasan's prediction of 1 BTC being worth 1 million USD in 90 days may seem unrealistic to some, but it has shown that Bitcoin has the potential to reach new heights. Srinivasan's prediction is based on the US banking system and hyperinflation, making it a reliable long-term prediction.

Institutional investments in Bitcoin by companies like Tesla and MicroStrategy have also increased its market cap and legitimacy. Bitcoin's market dominance of around 45% can lead to a significant increase in market cap when it rises above 65% or more. As people continue to learn about Bitcoin, it's likely that it will achieve significant growth in the near future.

While not realistic, it could happen especially if there is greater support coming to bitcoin at the right time, such as before the bitcoin price started to increase.
But maybe that won't happen in the next 90 days because the distance between the current and peak prices is too far.
So even if there is support coming into the bitcoin market, it may not be able to make its price increase quickly if it isn't overwhelming support.
We also have to be patient, waiting for everything to happen and in the meantime, we can accumulate more bitcoins.