Road to 100k?

[Samlucky O]

(...)
It would be a long shot for bitcoin to shoot straight up to $2 million, yet it also is not beyond the realm of possibilties.

Shooting up to $2 million woudl be right around a 32x from here.
(...)

This is a good example of how some metrics are not fit for all purposes. The multipliers, or percentage figures of changes in price in the past are not in any way an indicator of what could happen in the future.
In simple terms:
Increasing your net worth from $1 to $100 is not hard, even a homeless junkie could do that without much effort. But going from $1 billion to $100 billion, or even just to $2 billion, is a whole different story.

I disagree with you that it is easy to move from $1 to $100 but its a different story for $1m to $100m. If it took bitcoin just 3 years to increase from less than a dollar to hit $1+, and approximately 2years to also hit $100+ doesn't make bitcoin so easy as you thought or any other business to be easy. Because surely there are alot of business out there which have been staggering between $1 to $100 for long and yet nothing. They can't just move from $1 to $100 so easily if luck is not on your side. I believe that if  $1 can easily give you $100,  that $1m can also give you $100m easily. Because if for example $1 can increase by 2x to give you $2, $1m by 2x will give you $2m.  just like someone who is gambling $1 for a100odd multiplier and a person who stake $1m for a 100odd multiplier will give you thesame thing but different figures of $100 and $100m respectively. so there is no difference.

In setting up hopes for  BTC's price, we need to consider how much new money would have to flow to the market rather than focusing on past ratios.

focusing on past records of bitcoin is important because it makes people to understand the importance in bitcoin investment. Most people need conviction to believe in bitcoin and invest in it. The past ratio of bitcoin tremendous move has made many people invest in bitcoin because people always look for proof before entering or venturing into a business. If neglect the past ratio of bitcoin i guess many of us wouldn't have believed so much on bitcoin as we do today.

[I_Anime]

Why DCA is the only way.

Don't you want to use the Lump sum strategy. Don't forget there are many ways to stack bitcoins. The important thing is that you don't become a child where when the price drops you want to cry, but the price drop can be used to buy more aggressively.

Just buy bitcoins in a way that is comfortable for you, if you are comfortable with DCA, continue, but remember don't forget to Hold.

Yes, it can be done in any way, I personally think that by Using the DCA method one gets rid of many prejudices , like those who say that bitcoin is too Expensive , the train has already passed me by , you can no longer buy BTC or even have a single BTC , so for those people there is this method that turns out to be a blessing , because little by little they will buy BTC , only with what they can buy , it's not a bad Idea , so it will be the perfect Strategy to see how the BTC in our wallet continues to grow , that's how I see it.

Yeah and it also help those who have the money to purchase more than one bitcoin, to purchase bitcoin at different price interval. Which shows that DCAing is not for the poor alone ,  it is helpful to everyone. Because some rich folks may purchase a certain amount of Bitcoin with the use of lump-summing to given themselves a nice head start. And then continue with DCAing purchases, inorder to buy Bitcoin at different price interval, buying bitcoin at different price interval would actually help to fix you in a nice position in your Bitcoin accumulation.

Like for instance one kept buying bitcoin as the price continue to dip , rather than selling it. Whenever the price begins to rise or increase that folks would be in a good profits , that's far higher than those who actually buy Bitcoin once with the use of lump-summing.

[adultcrypto]

This is misleading and it is not true. The DCA strategy is not the only way to invest in bitcoin. If you say that the DCA strategy is the most widely used method I will agree with you. But saying that the DCA strategy is the only way to invest in bitcoin is a lie. In case you have forgotten we have other methods of investing in bitcoin which are;
- Lump sum Investment method
- Buying the Dip method
- Dollar cost averaging method (DCA)
Investors can use any of these methods to invest in bitcoin or combine the three methods when investing bitcoin.

Well, no doubt the dca is the most talked about investing strategy here and outside this space, is this hype about the dca worth it? Personally this strategy is worth the hype mostly newbies who choose to invest using the dca at first but that doesn’t mean there’s no other strategy like for other strategies listed above have their due time but that of the dca can be done at any time, what I meant by due time is buying the dip while the lump sum can be done with a reserved amount but it’s not so compulsory till whenever a person is ready.

I don't think the DCA method of investing in bitcoin is hyped in anyway because the strategy is just as good as people say it is. Instead of calling it hyped, the right thing to say is that many people seem to be using the DCA method and it is those people using it that are voicing out their experience and the outcome of the application of the DCA method. When many people are talking about same thing, it means there is something special about that thing. As long as investing in bitcoin is concerned, the DCA method stand out as the easiest, organized and widely accepted method of investing in bitcoin. Ther other methods of buying bitcoin are great just that people have to go with what they are most comfortable with.

[Rabata]

This is misleading and it is not true. The DCA strategy is not the only way to invest in bitcoin. If you say that the DCA strategy is the most widely used method I will agree with you. But saying that the DCA strategy is the only way to invest in bitcoin is a lie. In case you have forgotten we have other methods of investing in bitcoin which are;
- Lump sum Investment method
- Buying the Dip method
- Dollar cost averaging method (DCA)
Investors can use any of these methods to invest in bitcoin or combine the three methods when investing bitcoin.

Well, no doubt the dca is the most talked about investing strategy here and outside this space, is this hype about the dca worth it? Personally this strategy is worth the hype mostly newbies who choose to invest using the dca at first but that doesn’t mean there’s no other strategy like for other strategies listed above have their due time but that of the dca can be done at any time, what I meant by due time is buying the dip while the lump sum can be done with a reserved amount but it’s not so compulsory till whenever a person is ready.

I don't think the DCA method of investing in bitcoin is hyped in anyway because the strategy is just as good as people say it is. Instead of calling it hyped, the right thing to say is that many people seem to be using the DCA method and it is those people using it that are voicing out their experience and the outcome of the application of the DCA method. When many people are talking about same thing, it means there is something special about that thing. As long as investing in bitcoin is concerned, the DCA method stand out as the easiest, organized and widely accepted method of investing in bitcoin. Ther other methods of buying bitcoin are great just that people have to go with what they are most comfortable with.

As the price of Bitcoin rises up I think this DCA method is getting more popular with people. As not everyone can invest lump sum, DCA is a reliable investment vehicle for some investors. Moreover, Bitcoin holders have started reaping its benefits and will continue to reap it in the future. It is a tried and true method that allows a common holder to build a large long-term portfolio of Bitcoins that would be difficult to build in any other way. Small or large DCA is the best method for all types of holders. Those who believe in risk-free and long-term Bitcoin investment should definitely give DCA the highest priority.

[JayJuanGee]

(...)
It would be a long shot for bitcoin to shoot straight up to $2 million, yet it also is not beyond the realm of possibilties.

Shooting up to $2 million woudl be right around a 32x from here.
(...)

This is a good example of how some metrics are not fit for all purposes. The multipliers, or percentage figures of changes in price in the past are not in any way an indicator of what could happen in the future.
In simple terms:
Increasing your net worth from $1 to $100 is not hard, even a homeless junkie could do that without much effort. But going from $1 billion to $100 billion, or even just to $2 billion, is a whole different story.

In setting up hopes for  BTC's price, we need to consider how much new money would have to flow to the market rather than focusing on past ratios.

If you might potentially understand what bitcoin is, and if you might have potentially understood my post in regards to the 0.5%-ish odds of bitcoin reaching $2 million this cycle, then you might be able to understand how a 32x price increase is not out of reach, whether it might take 1-2 years or 2-3 more cycles or maybe even a bit longer than that.

Money flows might potentially be a good way to assess bitcoin as compared with some other assets, to the extent that bitcoin may well ONLY have so much of a liquid market and bitcoin's money flows can actually be seen onchain too as compared with some difficulties in seeing the movement of many other assets... yet there can sometimes be difficulties knowing whether bitcoin are real when they are moving around within the confines of 3rd party custodians, so in some sense there can be some questions in regards to whether various 3rd parties have the coins that they claim to have.. which makes it difficult to measure, and sometimes clear if there might be a blow up that could go either UP or DOWN if the third party does not have the coins they claim to have.

Another measure is market cap, and if we understand how bitcoin might be valued as compared with gold's market cap, then we might reasonably come to an assessment that bitcoin is about 1,000x more valuable than gold in terms of various aspects of moneyness, referring to scarcity, transportability, verifiability, costs of using it, programability, physicality and other attributes that might be pluses or minuses, and right now bitcoin is ONLY valued around 1/15th the value of gold in terms of market cap, so that means that bitcoin is potentially around 30,000x undervalued as compared with gold, so does gold have to come down, or bitcoin go up or is there some combination of those going on or do they both go up?  And, you might not even believe in such an assessment that bitcoin is around 1,000x more valuable than gold... That's your choice.

Whether you believe or not, it could take a 50-100 years for bitcoin to reach its fair value as compared to gold in terms of the 1,000x assessment, yet none of the price appreciation or reevaluation is guaranteed to take place, and if we might attempt to get some sense of why bitcoin had been moving up in its price historically rather than presuming that bitcoin is a bubble or that bitcoin is a mature asset, and if we fail/refuse to recognize/appreciate that bitcoin is both in an exponential s-curve adoption phase and that its adoption level remains pretty damned low for a relatively new asset class, then we might be able to appreciate various upside potentials for bitcoin that go into its price rather than merely poo-pooing the various ways of valuating bitcoin.. including that I had ONLY mentioned the $2 million per coin in this cycle to have around 0.5% chances, so don't be trying to proclaim that my odds are unrealistic or that $2 million is unrealistic on terms that were not stated by me, since I had already given an assessment that shows $2million to have pretty low odds for this cycle, yet I am not going to proclaim that it is not possible to reach $2 million this cycle - even if you are a doubter... and you would prefer to stick with absolute ideas of zero odds rather than actually attempting to appreciate what I had said in my response in regards to $2million this cycle.

Frequently if you are amongst those who are misreading what I said and then exaggerating some past performance does not equal future performance trite, then you still seem to be missing the point, and hopefully you are not too busy failing/refusing to prepare for various up scenarios in regards to bitcoin, even it you might not need to prepare for $2 million in this cycle with its potentially only 0.5% odds.

Another thing that any of us should understand about bitcoin as an asymmetric upside bet is that we do not have to put a lot of money into bitcoin in order to prepare for various upside scenarios that might have low odds of happening, and that is one of the powers of compounding on the way up.  When we have compounding on the way down, we can still ONLY lose up to 100% of what we put into bitcoin (as long as we don't leverage our position), yet the compounding on the way up remains powerful, even if there are folks who want to poo-poo upside scenarios as if they were zero percent odds when they aren't zero, but those upside scenarios still exist even if they might well be low odds, such as the $2 million this cycle with around less than 0.5% odds.

Increasing your net worth from $1 to $100 is not hard, even a homeless junkie could do that without much effort. But going from $1 billion to $100 billion, or even just to $2 billion, is a whole different story.

I wouldn't agree entirely that your analogy suits  the Bitcoin context and even with the general economic sense of upscaling from a $1 point to $100, I Believe it's always more deficult at the starting point than it becomes when you've witnessed some level of growth and have gained a wide range of trust accross the globe like what has happened in the Bitcoin scenario.

You would be right if we were talking about growth in terms of the actual amounts of money flowing into the market, in such case - yes it's more difficult to attract big money at the start.
But I'm talking purely about ratios (e.g. x10, x32, x100 etc). There's almost zero difficulty in making high ratios at the start. You could literally create a shit coin this afternoon, start trading it at say $0.00001 and just buy it from yourself for $1. Congrats, it just made a x100,000 return, but good luck repeating that when there's a real market with big volume.

You are talking out of your ass pawel7777.  Of course it takes more money to move bitcoin when the market cap is larger, yet at the same time have you been asleep?

In the beginning bitcoin had hardly any volume and hardly anyone knew about it, and perhaps we might say that bitcoin did not have a price until around early 2012 when it was $5 per coin, and even in early 2012, hardly anyone knew about bitcoin.  The players in bitcoin have been getting bigger and BIGger and BIGGER with the passage of time, so even if we still ONLY have 1% of the world's population in bitcoin, there still have been more and more businesses getting into bitcoin, more governments getting involved, and more high wealth individuals getting involved adn hoarding 1,000s of bitcoin, so sure the demand on bitcoin has to increase for the BTC price to go up, and surely it seems that demand continues to go up and at the same time it seems that maybe you have been sleeping if you are presuming that bitcoin's demand has not been going up sufficiently to justify the BTC price to go up? 

Even for example, the bitcoin spot ETFs in the US has opened bitcoin to a lot more new buyers, individuals, institutions and governments and those registered investment advisors are still expanding and becoming eligible to offer to their clients, and the various ETF providers continue to buy bitcoin, which puts additional demand on the bitcoin supply.. and you can ignore those kinds of dynamics all that you like.. and have fun staying poor too. with  .. your failure / refusal to accept and/or recognize upside bitcoin price scenarios.

[AirtelBuzz]

To be honest with y'all I never believed Bitcoin will be this huge or valuable as a matter of fact I doubted if it was going to stay for long and I believed 80-90% of people back then was thinking same thing

This statement of yours shows that you have not been able to acquire even the slightest understanding of Bitcoin. Even if you have little knowledge about Bitcoin, you might at least believe that Bitcoin is the most promising currency and the most valuable currency. A little bit of research about Bitcoin might clear your doubts.

But my happiness is, it's not late to invest in it, so long as you will be consistent using any strategy of your choice and having a management skill and a good source of income.

Yes there is no delay to invest in this coin i.e you can invest anytime if you have investment capacity, always best time to buy bitcoin. Many people manage their Bitcoin investments through various strategies that are tailored to their individual plans. However, most investors these days are using the DCA strategy to regularly purchase bitcoins as an income source. They even grow their investment portfolio through gradual purchases over long periods of time.

Paying people with Bitcoin sounds interesting and motivating, Please if you don't mind can you tell us the name of your country.

Almost many countries are now paying with Bitcoin. We recently saw US President Donald Trump pay with Bitcoin after purchasing some burger on the Election campaign. Moreover, in El Salvador it is always accepted to pay with Bitcoin when purchasing any product. A few days ago we may have seen in the newspaper that a taxi driver in El Salvador used to accept bitcoins for his car rental, which led to him owning a large amount of bitcoins at one time and changing his financial situation.

[DenBlad]

it blow past $80k by Nov 1st, 2024

[sotelorene]

Why DCA is the only way.

Don't you want to use the Lump sum strategy. Don't forget there are many ways to stack bitcoins. The important thing is that you don't become a child where when the price drops you want to cry, but the price drop can be used to buy more aggressively.

Just buy bitcoins in a way that is comfortable for you, if you are comfortable with DCA, continue, but remember don't forget to Hold.

Yes, it can be done in any way, I personally think that by Using the DCA method one gets rid of many prejudices , like those who say that bitcoin is too Expensive , the train has already passed me by , you can no longer buy BTC or even have a single BTC , so for those people there is this method that turns out to be a blessing , because little by little they will buy BTC , only with what they can buy , it's not a bad Idea , so it will be the perfect Strategy to see how the BTC in our wallet continues to grow , that's how I see it.

Yeah and it also help those who have the money to purchase more than one bitcoin, to purchase bitcoin at different price interval. Which shows that DCAing is not for the poor alone ,  it is helpful to everyone. Because some rich folks may purchase a certain amount of Bitcoin with the use of lump-summing to given themselves a nice head start. And then continue with DCAing purchases, inorder to buy Bitcoin at different price interval, buying bitcoin at different price interval would actually help to fix you in a nice position in your Bitcoin accumulation.

Like for instance one kept buying bitcoin as the price continue to dip , rather than selling it. Whenever the price begins to rise or increase that folks would be in a good profits , that's far higher than those who actually buy Bitcoin once with the use of lump-summing.

Well that is the advantage of buying in the Dip, when someone lump sum when the market is, let me say $60k and the market Dip later to $50k and an investor buy during this dip when price will get to $60k the investor who buy's at $50k will already be on profit but that doesn't mean you will take this profit because the idea is to accumulate and hold for a long period of time unless you are short term investment. But one of the advantage of lump summing is that, the quantity one will lump sum at a time can be a 6 months to 1 year investment of investor that is using the DCA or Buy Dip. Whatever the case maybe as long as we are accumulating to hold for a long period of time it doesn't matter what strategy we use rather what matters is how consistent we are.

[bitterguy28]

it blow past $80k by Nov 1st, 2024

any reason why? and is there something that we can expect so why this will be attaining 80 just by november because I believe there is a waiting time till December or January .

 -  Road to 100k usd for Bitcoin  =  if the road opens like what we've seen recently and continuously grows then that will be the long waiting if 6 digits ,

We have seen Bitcoin reach 70k USD and it even reached a point of 71k briefly. We are seeing history being made right here with the new all time high being set once again and it is happening even before halving.

I have high expectations that bitcoin will reach 100k but will it reach 100k without any major decline in price? Does it seem realistic that from 70k, bitcoin will continuously rise up?

I also have high expectations that btc might increase as it was in past days. We have seen how much potential btc is. Gradually it has touch 70k$ and it towards 100k. I am realy excited to reach the level as soon as possible. However though the market is looking so cool and It's not going for much fluctuations on recent days. I am really holding my fund and even trying to accumulate more btc as much as i can. Hope we can reach 100k level on upcoming days. Surely we will reach level one day just waiting for that time.

all of us who trust and investing in bitcoin is looking for 100k and even more lol.

[PremiumcryptoHub]

it blow past $80k by Nov 1st, 2024

Can it be possible? Many of us make different predictions about Bitcoin, some are correct and some are not. However, recent bullish and bearish candles in Bitcoin price may not be revealing that it will touch $80K by November 1st. In recent times, the price of Bitcoin has not risen above 63 thousand dollars. In this situation, the market seems to be standing in a stable state.
If you are an investor then these are not your concern as your only investment goal is to buy bitcoins and set a goal.

[Barikui1]

it blow past $80k by Nov 1st, 2024

Can it be possible? Many of us make different predictions about Bitcoin, some are correct and some are not. However, recent bullish and bearish candles in Bitcoin price may not be revealing that it will touch $80K by November 1st. In recent times, the price of Bitcoin has not risen above 63 thousand dollars. In this situation, the market seems to be standing in a stable state.
If you are an investor then these are not your concern as your only investment goal is to buy bitcoins and set a goal.

That's just it, as an investor that invest into Bitcoin, Bitcoin hitting 80k or 100k shouldn't be your primary concern because you are a long term holder, and due to the huge potential of Bitcoin, we all believe that Bitcoin has the capacity of doing 10x to 20x in like 10 to 20 years time from now, so is their any point getting too concern about it current price or Bitcoin hitting 80k or 100k?  Or are you going to sell at such price?
If you are actually thinking of reacting by selling off your holdings at 80k or 100k with the kind of potential Bitcoin has, then it's either you are just a trader or you are just too myopic to see the bigger picture of Bitcoin in like 10 to 20 years time from now.

What I did expected from us is to use this opportunity that we have to accumulate more Bitcoin, because we are still in it early days, and the stash of Bitcoin in our possession determine how profitable we might be in the future, so I believe that since it's very cheap now comparing to the price it going to reach 10 to 20 years time from now, it's best we seize this opportunity that we have now and accumulate as much Bitcoin as possible.

[avp2306]

it blow past $80k by Nov 1st, 2024

Can it be possible? Many of us make different predictions about Bitcoin, some are correct and some are not. However, recent bullish and bearish candles in Bitcoin price may not be revealing that it will touch $80K by November 1st. In recent times, the price of Bitcoin has not risen above 63 thousand dollars. In this situation, the market seems to be standing in a stable state.
If you are an investor then these are not your concern as your only investment goal is to buy bitcoins and set a goal.

Actually that is just a guess. He didn't post something that can support his claims. Also we are in the middle of this month so its kinda hard to agree that this speculated figure will happen.

But what good thing about that is we see that people like him is positive that this figures would really came. And this indicate that people are bullish towards bitcoin so provably more to come from it.

Also we need to know that price should be our less concern if we are dealing bitcoin for long term. Since that figure is just a temptation and bitcoin potential to rise for even more figures is so high. What I try to aim right now is to have more bitcoins in future and I'm more excited to discuss current events rather than talk about prices since being updated with latest news is more helpful on our investment rather than talk about price speculation since it will just create fear especially if market is experiencing a decline.

[Pi-network314159]

Increasing your net worth from $1 to $100 is not hard, even a homeless junkie could do that without much effort. But going from $1 billion to $100 billion, or even just to $2 billion, is a whole different story.

I wouldn't agree entirely that your analogy suits  the Bitcoin context and even with the general economic sense of upscaling from a $1 point to $100, I Believe it's always more deficult at the starting point than it becomes when you've witnessed some level of growth and have gained a wide range of trust accross the globe like what has happened in the Bitcoin scenario.

You would be right if we were talking about growth in terms of the actual amounts of money flowing into the market, in such case - yes it's more difficult to attract big money at the start.
But I'm talking purely about ratios (e.g. x10, x32, x100 etc).

Actually In my own point of view the growth of any investment is vise versa, which implies that it may be slow from the beginning and expand later down the road, and may intend to be fast from the beginning and become slow down the road.  In bitcoin case it was much easier from the beginning because many people never knew or heard of anything like blockchain technology (bitcoin) and people are usually moved by trend. The News of bitcoin shook the world. It was an awesome and idmarable Discovery that people wanted to take a slice of it and know how it feels like to be a part of such and investment opportunities.

The more it gain popularity the more and more people invested on it, th more it keep rising and people start seeing there dream coming into reality, this triggered more investors and btc grew tremendously and gain attention. So it has reach a staggering level where most people are afraid that it may never grow above this and they sold. For bitcoin to increase as before it will take alot of time and I understand your point, but that does not mean that it can not grow to 32x in a short time frame. What matter is the amount of adoption in a space of time. If bitcoin can grow drastically during the ETf approval don't you think a force can drive people to adopt bitcoin and it grew rapidly? Even if it doesn't grow by 32x. Let's say 10x per say.

You could literally create a shit coin this afternoon, start trading it at say $0.00001 and just buy it from yourself for $1. Congrats, it just made a x100,000 return, but good luck repeating that when there's a real market with big volume.

That is crazy, a person who knows the principles of tokenimics would not even agree to this. What is the value of creating a token that has no community, followers and investors who are willing to invest. If you don't know creating a token with good utility take time or good things takes a lot of time. If you can create a coin withing 24hours and list on exchange, fine but it takes a good coding skill and a good laptop But I doubt if listing on exchange can be done in a day, because exchange will take a review of the project before getting listed. You can check how long does it take for my coin to be listed on exchange

[wmaurik]

it blow past $80k by Nov 1st, 2024

That sounds like an uncertain prediction so I wouldn’t think of that level in the middle of this month. Because currently Bitcoin price itself is still in the range of $62K to $63K although the price level you mentioned could also be possible if there is a faster price increase in the next two weeks.

Can it be possible? Many of us make different predictions about Bitcoin, some are correct and some are not. However, recent bullish and bearish candles in Bitcoin price may not be revealing that it will touch $80K by November 1st. In recent times, the price of Bitcoin has not risen above 63 thousand dollars. In this situation, the market seems to be standing in a stable state.
If you are an investor then these are not your concern as your only investment goal is to buy bitcoins and set a goal.

What you said makes sense because when we look at the current market conditions with the Bitcoin price range more stagnant between $62K to $63K, of course it would be very good for investors to continue on their own path where investors can still take advantage of conditions like now to continue buying before Bitcoin exceeds the price of $70K again this year. Because I think the price of $80K is a level that is a little far to achieve in more than two weeks even though it is not impossible for Bitcoin to happen, but we also need to look at the current market condition trend so that the prediction can be a little reasonable.

[Marvelockg]

Also we need to know that price should be our less concern if we are dealing bitcoin for long term. Since that figure is just a temptation and bitcoin potential to rise for even more figures is so high. What I try to aim right now is to have more bitcoins in future and I'm more excited to discuss current events rather than talk about prices since being updated with latest news is more helpful on our investment rather than talk about price speculation since it will just create fear especially if market is experiencing a decline.

if only his speculation about Bitcoin getting to $80k by next month will reflect on his buy decision then it would have made a lot of sense that he's expecting  $20k difference in Bitcoin price in the next two weeks relative to what we have now.

Regardless of how many times we've repeated this, We will continue to say this untill it sinks well with as many newbie that needs to know this. Price is just number and might not really make a difference to an investor that is iether at the early stage of his Bitcoin accumilation and so haven't really stacked up a good chunk of Bitcoin or to another that is not all that new but is still at his accumilation stage so even if Bitcoin price goes up within the next six month or a year, he wouldn't even think of taking out his profit because he's obviously not accumilated enough Bitcoin. While being all too interested in Bitcoin getting to the figures you have in mind, always ask yourself the question, How prepared am I for this price I'm projecting and if by next month Bitcoin even hits $80k, what's going to be my decision? Will I sell the little I have accumilated?

It's not like it's bad to be bullish on Bitcoin, It's good to be bullish on Bitcoin as an investor cause that's what motivate you to keep buying. Even  those that are gambling with thier investment through buying of some shitcoin are doing so because they Are bullish on the coin and so how much more is us that are investing in a good asset as Bitcoin? We have to be bullish and that's part of the certainty we have that bitcon will get to $100k and even suppas it with time. Now, the only issue with certain speculation is that when you're giving a fixed time to it, it tend to look as though you know what will happen at the said time or that you have the ability to influence the market such that by next month, Bitcoin will get to $80k.

[Samlucky O]

it blow past $80k by Nov 1st, 2024

Does it matters if it blow now or later? What really matters now is for you to take your accumulation process seriously and have a slice of bitcoin before we pass the $100k ballmark. Surely bitcoin must soar higher above  $100k so $80k is even less of the amount expected of bitcoin. I see your post as a mear speculation which anyone can just predict which I can't ask your what reason since here is a speculation board, but the road to $100k should always ring a bell to all accumulators to take bitcoin seriously before it becomes more expensive and people may never have that privilege to acquire the amount they ought to have accumulated. I.e if $30k was able to give you 0.5btc @$60k per bitcoin, when bitcoin hit above $100k or $120k that $30k will give the half or 0.5btc  which is equal to 0.25btc. buy now and HODl.

[Dump3er]

(...)
It would be a long shot for bitcoin to shoot straight up to $2 million, yet it also is not beyond the realm of possibilties.

Shooting up to $2 million woudl be right around a 32x from here.
(...)

This is a good example of how some metrics are not fit for all purposes. The multipliers, or percentage figures of changes in price in the past are not in any way an indicator of what could happen in the future.
In simple terms:
Increasing your net worth from $1 to $100 is not hard, even a homeless junkie could do that without much effort. But going from $1 billion to $100 billion, or even just to $2 billion, is a whole different story.

In setting up hopes for  BTC's price, we need to consider how much new money would have to flow to the market rather than focusing on past ratios.

Net worth is a very bad example and by the way, I think a lot of billionaires will tell you that turning $1 billion into $2 billion or much that that was far, far easier than turning $10k into $100k into $1 million. Once you reach a certain net worth, your realm of possibilities is enlarged by so much that things become exponentially easier. The homeless guy with $100 in the pockets may have turned $1 into $100, but he hasn't gained any network, any power, any new leverage capabilities, nothing.

A billionaire doesn't only have a billion in the bank (or in assets in general), but they also gained influence, far-reaching recognition, the ability to seize countless opportunities at once, take much higher absolute risks without going broke, engage in effective corruption, buy media outlets and push their own agenda, the list is probably much longer, but I guess you get the point.

When for Twitter goes to zero, Elon Musk doesn't care. But how many people are there in the whole world who could afford buying Twitter? 10? If it's a consortium, maybe 1,000? The guy who has 250 bucks in his pocket would take a severe hit to his net worth when he loses 40 bucks. Musk doesn't need to care when $40 billion out of his $250 billion go down the toilet.

Another measure is market cap, and if we understand how bitcoin might be valued as compared with gold's market cap, then we might reasonably come to an assessment that bitcoin is about 1,000x more valuable than gold in terms of various aspects of moneyness, referring to scarcity, transportability, verifiability, costs of using it, programability, physicality and other attributes that might be pluses or minuses, and right now bitcoin is ONLY valued around 1/15th the value of gold in terms of market cap, so that means that bitcoin is potentially around 30,000x undervalued as compared with gold, so does gold have to come down, or bitcoin go up or is there some combination of those going on or do they both go up?  And, you might not even believe in such an assessment that bitcoin is around 1,000x more valuable than gold... That's your choice.

JJG has been talking about this for a very long time now and as someone who reads a ton of his posts, I would argue that it is hard to get him wrong. He clearly stated that everything is basically possible at any time. There are some very interesting things in the making. Some people/media outlets claim that there is a high probability of the BRICS having been buying thousands of tons of gold secretly as it is possible that they want to fight the dollar with their own currency, perhaps being backed by gold. But in an age of digitization, the demand for transparency and verifiability, how likely is it that bitcoin becomes tremendously important in regards to geopolitics?

I believe that a lot of big political actors have long realized that bitcoin can't be stopped effectively unless they break it somehow. They aren't talking much about it and to me this is a potential sign that they are at it, building their position within this network through various ways. It could be setting up nodes, buying bitcoin, hiring some of the best people in the world to build analytical software, infiltrate exchanges, I don't know.

So is 100k possible in a short period of time? Definitely and is $1 million or $2 million possible? Yes and as JJG said, sayin that this is possible, it could go down as well for reasons obviously unknown at this point in time as otherwise it would have been priced in already. But the chance that there comes an unexpected or anyhow suspected catalyst into play is not unlikely. If something becomes politically relevant, it is more likely that important actors keep as silent as they can while gaining influence before informing the public about anything beyond what is necessary.

And JJG is of course correct when he says that this could as well take 50 or 100 years because it would indeed be positively ridiculous if bitcoin's market cap would overtake that of gold within 20 years of its existence, considering that gold has thousands of years of history to look back on.

[JayJuanGee]

And JJG is of course correct when he says that this could as well take 50 or 100 years because it would indeed be positively ridiculous if bitcoin's market cap would overtake that of gold within 20 years of its existence, considering that gold has thousands of years of history to look back on.

When I mentioned 50-200 years, I was referring to bitcoin reaching 1,000x gold's market cap.

Bitcoin could reach parity with gold's market cap this cycle or next cycle.. that is a much easier target, and surely even bitcoin reaching parity with gold's market cap (which might be in the ballpark of $600k to $700k per BTC) is not even guaranteed to happen, but surely it is not impossible to do or even unrealistic in this cycle.. perhaps even greater than 10% odds for this cycle, just like there perhaps could be odds approaching 0.5% for BTC to reach $2 million this cycle..

[bangjoe]

it blow past $80k by Nov 1st, 2024

Does it matters if it blow now or later? What really matters now is for you to take your accumulation process seriously and have a slice of bitcoin before we pass the $100k ballmark. Surely bitcoin must soar higher above  $100k so $80k is even less of the amount expected of bitcoin. I see your post as a mear speculation which anyone can just predict which I can't ask your what reason since here is a speculation board, but the road to $100k should always ring a bell to all accumulators to take bitcoin seriously before it becomes more expensive and people may never have that privilege to acquire the amount they ought to have accumulated. I.e if $30k was able to give you 0.5btc @$60k per bitcoin, when bitcoin hit above $100k or $120k that $30k will give the half or 0.5btc  which is equal to 0.25btc. buy now and HODl.

Speaking that might happen is indeed speculative and no one can really predict it, but we can speak the possibility that there is no guarantee that will occur later on or with the date mentioned, as we believe Bitcoin will touch $ 100K, I also believe it but We will not know when that happens, whether it's this year or next year, no one knows in my opinion.
It is not good to force the will, invest in accordance with your own abilities and remain in the path of good money management so as not to be a messy investment even though you can buy more bitcoin today, but if you use money for your life this month is something that is something that is Silly in investing, still accumulates until you feel enough to hold.

[Ambatman]

it blow past $80k by Nov 1st, 2024

Does it matters if it blow now or later? What really matters now is for you to take your accumulation process seriously and have a slice of bitcoin before we pass the $100k ballmark. Surely bitcoin must soar higher above  $100k so $80k is even less of the amount expected of bitcoin. I see your post as a mear speculation which anyone can just predict which I can't ask your what reason since here is a speculation board, but the road to $100k should always ring a bell to all accumulators to take bitcoin seriously before it becomes more expensive and people may never have that privilege to acquire the amount they ought to have accumulated. I.e if $30k was able to give you 0.5btc @$60k per bitcoin, when bitcoin hit above $100k or $120k that $30k will give the half or 0.5btc  which is equal to 0.25btc. buy now and HODl.

I think is the thread title
$100K wasn't and never would be the goal. It's just a psychological level to cross into the 6 digit figure and I wouldn't advice buying $30K BTC all at once.
Personal opinion though, would personally buy in intervals or better still use half and keep the others for DCA.
And also maybe some Incase of a dip.

It is not good to force the will, invest in accordance with your own abilities and remain in the path of good money management so as not to be a messy investment even though you can buy more bitcoin today, but if you use money for your life this month is something that is something that is Silly in investing, still accumulates until you feel enough to hold.

I don't know how long it would take but I don't want to be a shrimp anymore atleast a Crab.
Though I love to hold
A priority I must say but I want to use Bitcoin to make a Life changing transaction.
Spoiler definitely not a depreciating asset or want more of a need.