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Author Topic: Who buys Bitcoin at $500k  (Read 560 times)
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February 18, 2024, 10:08:23 AM
 #21

Bitcoin to rally more than $500k says some crypto analyst.
Bitcoin has pass $50k but for me,we need a close watch.We are expecting halving in April, looking at the daily chart we see Bitcoin moving to $67k but I expect to see  retracement to $40k before any move so as to gather enough momentum.

$500,000 would be too much for Bitcoin to rally in the coming bull market, the inflow of money into Bitcoin spot etf won't make this price to become a reality. The market isn't also ready to see Bitcoin trading at the price as many people will rush to sell to take profits and it'll make the market to crash more than it has crashed before. The more the market keeps getting more mature and institutional money keep coming in to stablize the market in some manner then we can be aiming for high price like $500,000. I think too that a correction is coming because the market can't keep raising. It needs more momentum and it's always a correction that starts the momentum as people starts accumulating again when the price of Bitcoin drops. As for who'll buy Bitcoin when it's $500,000, those that refuse to buy when Bitcoin is $50,000 and new investors will buy.

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February 18, 2024, 07:00:38 PM
 #22

~Snip
Should we re-ask something that doesn't need to be thought about like the OP's question. I think it's strange to test one's logic when market participants ask other market participants.
Not all questions have to be answered, try asking a question once in a while. After all, this is not a logical question, just a fact to present the possibility of what will happen in the future.

~Snip
At any price that bitcoins get to, there will always be buyers. Not all buyers of bitcoins are buying to make profit from the Volatility, it has use cases as a currency too that some people are readily available to make use of instead of fiat.

At 50k, there will still be buyers, but definitely not so much as today or yesterday.
Of course, I've said that before.
Bitcoin is not only an investment asset or store of value, but is also used as a currency. It's up to you whether you adopt it as a primary currency (difficult) or an alternative for daily transactions, that's the use case.

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February 18, 2024, 07:05:18 PM
 #23

Bitcoin $500K is it a cycle now? Crypto experts may say it's too much because it's unrealistic.

Whatever the price of bitcoin, someone will buy it when the price is $500K, the market capitalization will be quite high, which means the demand is getting higher, right? Now on the other hand, when the price is the lowest, who buys it? Not because they want to buy low but the demand will always be there.

Bitcoin is increasing? We look at the history of bitcoin cycles over the past decade or so, isn't that a sure hope? Although we never know where bitcoin is going.
Believe me the price will remain high because many people and institutions are already taking it.

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February 18, 2024, 07:13:09 PM
 #24

Bitcoin to rally more than $500k says some crypto analyst.
Have you forgotten what happened in the past cycles when Bitcoin buys or sells? People (I don't want to call them analysts) will just be running their mouths. This is not different, but I can only advise you that you should rather be focused. Learn how to speculate, that's the only way you will not confuse yourself. At barely $51,700, Bitcoin is over $1T in market capitalization. What would it be when it is $500,000? That will be close to $10T. And you expect this to happen within months or barely a year? These guys are jokers.

Quote
ETF approval which open room for more investors to invest and minimize there risk thereby holding more coins.
I don't get you, you mean ETF will limit the risk of investors? Maybe you should go back to your readings. It doesn't work like that and I do not even know how it will further seriously impact Bitcoin, to be candid with you, judging by how the ease of investing in the coin is already structured. Unless for better keeping, and you should be ready for more charges with ETF if you pass through them.

Quote
      Election would also have impact  on it move, because of general election coming up in over 50 countries of the world.
Inflation taking it lead.
Really, the US election does impact assets because most are paired with the USD which is the number one currency in the world. But it doesn't work as you said. The impact will be very minimal. It might cause some spikes and aggressive movements like whipsaws but they are not always so impactful to be worried about.

Quote
My question is who buys Bitcoin at that price..?
    Will the value of Bitcoin keep increasing after then?
Do you mean in 2025? Well, one has to be careful in further buying of Bitcoin in 2025. The year is the year I believe that Bitcoin might slip back into a bearish mode if the past histories are to be considered.

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February 18, 2024, 09:10:08 PM
 #25

Bitcoin to rally more than $500k says some crypto analyst.
Bitcoin has pass $50k but for me,we need a close watch.We are expecting halving in April, looking at the daily chart we see Bitcoin moving to $67k but I expect to see  retracement to $40k before any move so as to gather enough momentum.
Bitcoin has more buying pressure on it now than ever because of;
       ETF approval which open room for more investors to invest and minimize there risk thereby holding more coins .
       Election would also have impact  on it move, because of general election coming up in over 50 countries of the world.
Inflation taking it lead.
Tension in economy of countries,etc.
But holding till September 2025 would be worth it since the bull run will last till then.
My question is who buys Bitcoin at that price..?
    Will the value of Bitcoin keep increasing after then?

Your question is the same as when the price of bitcoin was still thousands of dollars, many people asked whether anyone would buy bitcoin when the price touched $10k and in fact the price of bitcoin continues to be bought by people even though a few years ago the price of bitcoin reached $67k.
one thing I have learned in the market, whatever the price of bitcoin, bitcoin will continue to be of interest to people, especially investors with a lot of capital, they will look at bitcoin as a good investment, besides that bitcoin has been proven to be immune to inflation which makes investors Professional investors are confident about Bitcoin's future.



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February 18, 2024, 09:19:41 PM
 #26

Don't see the glass as half full...

14 years ago, if someone posed the same OP conjecture, what would they have said. Today with this price (+50k) we are less than 10x, hence, of course the asset is going to be sold.

 You're thinking about the size of your funds, that's why you see the glass as half full.

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February 18, 2024, 09:46:04 PM
 #27

Bitcoin to rally more than $500k says some crypto analyst.
Bitcoin has pass $50k but for me,we need a close watch.We are expecting halving in April, looking at the daily chart we see Bitcoin moving to $67k but I expect to see  retracement to $40k before any move so as to gather enough momentum.
Bitcoin has more buying pressure on it now than ever because of;
       ETF approval which open room for more investors to invest and minimize there risk thereby holding more coins .
       Election would also have impact  on it move, because of general election coming up in over 50 countries of the world.
Inflation taking it lead.
Tension in economy of countries,etc.
But holding till September 2025 would be worth it since the bull run will last till then.
My question is who buys Bitcoin at that price..?
    Will the value of Bitcoin keep increasing after then?

even though this is the year of halving or 1 year after halving bitcoin it is still very unlikely that the price will touch 500k dollars. sending fees will get more expensive and have the effect of people being lazy to use bitcoin for transactions because of the expensive sending fees. will only become collectors if the price reaches 500k dollars.

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February 18, 2024, 10:38:48 PM
 #28

From the stage where the price of Bitcoin was in the beginning, we never expected that the price of Bitcoin could reach 50K or more but it has already happened. Similarly, when the price of Bitcoin is 500K, it is not essential. This is certainly possible in the trading business. As Bitcoin has huge potential. This year since the halving, the price of Bitcoin will increase significantly. We don't see it going to the 500K price anytime soon, but we wouldn't be surprised to see it go to that position in a few years.

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February 18, 2024, 10:53:17 PM
 #29

Quote
Re: Who buys Bitcoin at $500k
If it's not me, it's you, if it's not you, it's someone else.
There will always be people buying bitcoin as long as bitcoin is still adopted as a means of payment and currency in various businesses. You don't need to worry about that even though the average holder will likely sell it at $100K or $200K in the future. You only need to worry if you don't have any bitcoins in your wallet when $100K, $200K or $500K becomes a reality.

Remember the gambling business? They have adopted bitcoin as a currency and I am sure gamblers will still use bitcoin for gambling regardless of its price in the market. But of course - $500K is too high in my opinion.

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February 18, 2024, 11:16:32 PM
 #30

Bitcoin to rally more than $500k says some crypto analyst.
Bitcoin has pass $50k but for me,we need a close watch.We are expecting halving in April, looking at the daily chart we see Bitcoin moving to $67k but I expect to see  retracement to $40k before any move so as to gather enough momentum.
Bitcoin has more buying pressure on it now than ever because of;
       ETF approval which open room for more investors to invest and minimize there risk thereby holding more coins .
       Election would also have impact  on it move, because of general election coming up in over 50 countries of the world.
Inflation taking it lead.
Tension in economy of countries,etc.
But holding till September 2025 would be worth it since the bull run will last till then.
My question is who buys Bitcoin at that price..?
    Will the value of Bitcoin keep increasing after then?
If Bitcoin goes to $500k we will still be investing the way we are investing now. If you look at the current direction you can see very well from this price we are buying and investing when bitcoin price dropped so much that it went to $15k but people were not able to buy since that time people bought and invested but still the market  No one has invested since the rise but has not stopped. The higher the demand for Bitcoin the better for us because we buy now we will buy then. Bitcoin is always dynamic and Bitcoin will always be dynamic. If Bitcoin can bounce from $15,000 to $52,000 and if it can reach $500,000 from here, it will definitely go above $500,000.

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February 19, 2024, 12:44:18 AM
 #31

Bitcoin to rally more than $500k says some crypto analyst.
Bitcoin has pass $50k but for me,we need a close watch.We are expecting halving in April, looking at the daily chart we see Bitcoin moving to $67k but I expect to see  retracement to $40k before any move so as to gather enough momentum.
Bitcoin has more buying pressure on it now than ever because of;
       ETF approval which open room for more investors to invest and minimize there risk thereby holding more coins .
       Election would also have impact  on it move, because of general election coming up in over 50 countries of the world.
Inflation taking it lead.
Tension in economy of countries,etc.
But holding till September 2025 would be worth it since the bull run will last till then.
My question is who buys Bitcoin at that price..?
    Will the value of Bitcoin keep increasing after then?

Bitcoin price may be 500K but after 2030. At present the price of Bitcoin will touch 6 digits, like over millions of dollars. BITCOIN PRICE Every investor will correct his guess In 2025, the more the investor withdraws and invests, the more benefits he can reap. That's why wise people are analyzing Bitcoin the most, Bitcoin is so widespread among investors today that it will only increase in demand and importance in the future.

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February 19, 2024, 12:49:13 PM
 #32

Bitcoin started its journey in 2009 and the current value of 2024 has increased hundreds of times. Current Bitcoin value in 2024 is $52000. Most experts believe that Bitcoin price will exceed 1000000 $ this year. Also Bitcoin historical chart shows that it has increased a lot in last 10 to 14 years. So it is not unusual that its price will not exceed 500k. Maybe it needs a long time. If its value increases, people will be more confident in Bitcoin. As a result, more and more people will be interested in investing and trading in Bitcoin. I personally think that the growth of Bitcoin is profitable and a reason to believe.

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February 20, 2024, 05:44:33 PM
 #33

My question is who buys Bitcoin at that price..?
    Will the value of Bitcoin keep increasing after then?
Basically whoever bought it at 68k as well. The idea is true that price of bitcoin will go up, and people will keep on buying it, not everyone will buy a full bitcoin, and not everyone will be able to buy more than a few thousand satoshi at most, but the purchases will keep on going.

Considering the higher we go the less liquidity we have, we could say that most will hold it anyway, there is no reason to sell it so the buyers will be trying to get some of the few that is still standing. I can see how it could become a very scarce asset and the price will be impacted because of it. Maybe it will be 500k and maybe it looks a lot now, but when the day comes, you will see that it is going to be great eventually and could be done same.

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February 20, 2024, 07:39:26 PM
 #34

My question is who buys Bitcoin at that price..?
Trust me there will be 100's of thousands of people who would but Bitcoin even if it reach $500k. Man, that $500k isn't a big value for Bitcoin because most people who currently have Bitcoin in their possession are hoping to hold it until it reaches $1M which's double of that $500k.

Bitcoin is not going to stop at $500k or at $1M, in fact some people expect that within 40 years Bitcoin might reach or cross $5M a coin. If that happens then those people who may not have bought Bitcoin at $500k would regret just like the ones who aren't buying it now.

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February 20, 2024, 08:19:43 PM
 #35

Take note that bitcoin won't be in a hyper-growth stage like it is right now forever. There will be a point in time where people will also be buying bitcoin for its growth(slower, but less volatile) increase, but mostly for its gold-like properties and due having self-custody.
Basically bitcoin is going out from hype stage because since the adoption of bitcoin is getting high its when people do their own mind direction without following the methods of hypers or influencers, so the volatility of bitcoin will increase it adoption, because onces people make profit in bitcoin the information continues to circulates, hypers is like people who just like make their own analysis concerning bitcoin and come up with their own results, that what I'm seeing in bitcoin right now, because everyone wants to be specialist in bitcoin.

Predicting something this wild needs lots of guts I must say. Yes 100k price is still acceptable, but 500k is really too high. If by chance also bitcoins reaches 500k, then I am pretty sure that many will still buy it. The reason is pretty simple, bitcoins are limited in numbers and the prices are increasing day by day. Hence more people will buy it at current price and will try to sell it later to yield more profits. Hence the price doesn’t matter at all, as the supply is fixed, hence people will demand to buy always.
It's all predictors of bitcoin that conduct a research before making their analysis to the public, some people just make their own analysis based on they want to predict the future of bitcoin in order to be firm whereas some people take some days weeks and months to study bitcoin and come out with a tangible results, and that is while some of the predictions of bitcoin when you followed it, it will be similar to prediction that happened some months ago.

Bitcoin to rally more than $500k says some crypto analyst.


I never say anyone predict the top correctly and it's always wildly overestimated. In 2017 the eyes were at $100k, in 2021 it was $250k and we all know how it went and where the actual bull cycle peaks were. Don't let all these predictions affect your decision-making and remember that after the bull market there will be bear market.
Their some predictions that is false when you come across of it, actually I have come across of some predictions that many were emphasising that bitcoin price will reach or hit one hundred thousand [100k] and looking at the conditions or the nature you can see that predictions that being made for more than two years has not come to reality or into existence, so we should not allow anyone to deceived us concerning the price of bitcoin, we should know that what determine the increase of bitcoin is the market demands and supply and when the demand is higher then the market will continue to skyrocket or flourish.

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February 20, 2024, 09:45:22 PM
 #36

Bitcoin to rally more than $500k says some crypto analyst.
Bitcoin has pass $50k but for me,we need a close watch.We are expecting halving in April, looking at the daily chart we see Bitcoin moving to $67k but I expect to see  retracement to $40k before any move so as to gather enough momentum.
Bitcoin has more buying pressure on it now than ever because of;
       ETF approval which open room for more investors to invest and minimize there risk thereby holding more coins .
       Election would also have impact  on it move, because of general election coming up in over 50 countries of the world.
Inflation taking it lead.
Tension in economy of countries,etc.
But holding till September 2025 would be worth it since the bull run will last till then.
My question is who buys Bitcoin at that price..?
    Will the value of Bitcoin keep increasing after then?
Your question may be if bitcoin reaches $500k no one will buy bitcoin? Can you imagine if Bitcoin reaches $500k people will invest the way they are investing now. If Bitcoin goes to $500k it will probably be higher so people will keep investing waiting for the next new ATH. Since the number of bitcoins cannot be increased, but the popularity of bitcoins is constantly increasing, there will come a time when the price will be beyond imagination. So Bitcoin will grow and grow at its own pace.

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OgNasty
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February 21, 2024, 12:31:19 AM
 #37

We're in ETF land now.  It isn't about buying Bitcoin at $500K, it's about buying shares of an ETF at whatever price they're selling for if you're most people.  I'm sure there are already people who have a lot of money invested in Bitcoin and don't care about the price of Bitcoin, but care about the price of the ETF.  Sure, this doesn't really make sense, but it's where we're headed.  Maybe someday most Bitcoin holders won't even hold real BTC.  They'll just invest in it like a stock and worry about their return.  Who knows, maybe there's even a future where people don't realize Bitcoin can be sent from person to person, just like satoshi described in the whitepaper (that's sarcasm).

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February 21, 2024, 03:35:31 AM
 #38

Nothing is impossible in this digital financial world. If you say that, look at the example of alt coins
SEX Odyssey https://coinmarketcap.com/id/currencies/sex-one/ with an incredibly high price with a supply of only 1 coin. Sorry, I'm not comparing, just my thoughts. I think there will be even more interest for BTC even though the price you estimate will come in time.

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February 21, 2024, 03:44:51 AM
 #39

at that time there will always be people buying bitcoin. We can take this question back to the past when the price of bitcoin was still in the range below $1000. at that time, who will buy bitcoin at $50k? At that time the value of $50k was still very high, but now the potential price of Bitcoin could even reach $100k. At that time, I feel that there will be people who will buy bitcoin for $500k. If the price is stable, then many holders at that time believe the price of bitcoin can reach an even higher price.

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February 21, 2024, 07:36:11 AM
 #40

Probably the investment companies that think that they don't have enough bitcoin yet, Grayscale and Microstrategy will still buy bitcoin at that price I can guarantee that and eventually it's people that will have no choice but to buy because bitcoin's price floor is never going to go much lower than 500k, don't worry too much about it, we'll probably see it in the future but it's definitely not right now.
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