Will Bitcoin reach 1 CR before the year ends?

[pakhitheboss]

I was not surprised to see Bitcoin breaking the barrier of $100K and going above it today. I wasn't suprised with the price reaching that USD value as I knew it will but in INR it is still short of INR 17 Lakhs to reach 1 Cr.


We all who have been in this journey know how Bitcoin has been breaching the price point every four years after 2017 big leap. This year with the support of ETFs and with Trump getting elected, Bitcoin was supposed to go beyond and create a new ATH, which is $104K.

Do you guys feel that 1Cr in Indian rupees is going to happen before January 2025. Whatever you feel reply about it on this thread.

[TheUltraElite]

I did a quick calculation, 1Cr is 1.14877695BTC at the current price - so in order to reach that, bitcoin needs to multiply its current price by another factor of 1.148 at least to reach 1Cr. At the present bull run, it might be a something too much to ask for. We just crossed the 100k USD barrier, this will take more time.

We might see this over time, but it will take time

I hope this move from the US president brings in some change of thoughts in the Indian government.

[pakhitheboss]

I did a quick calculation, 1Cr is 1.14877695BTC at the current price - so in order to reach that, bitcoin needs to multiply its current price by another factor of 1.148 at least to reach 1Cr. At the present bull run, it might be a something too much to ask for. We just crossed the 100k USD barrier, this will take more time.

We have been seeing the rally since the 5th of November, and it took approximately 30 days for the price to reach $100K. I think this rally will continue, and it is a possibility that we might see the price reaching 1Cr. I might sound positive, but Trump's decision and his inclination towards Bitcoin show how positive the new US president is towards making itself the number one destination for Bitcoin and altcoins.

We might see this over time, but it will take time

I doubt that it will happen over a period of time, but it should happen before Trump takes the oath, as per my understanding.

I hope this move from the US president brings in some change of thoughts in the Indian government.

Forget the Indian government as they plan to increase GST from 25% to 35%. They are going to keep increasing tax on our income and others goods we Indians will keep giving them our hard-earned money unless we leave this country.

[pawanjain]

Do you guys feel that 1Cr in Indian rupees is going to happen before January 2025

I guess so. Bitcoin has breached $100k and is currently consolidating, giving alts a chance to pump up.
Once it consolidates, I think bitcoin will take another pump before it starts dumping again for a good correction.
Yes, I think bitcoin will cross 1 Cr soon but I would have been happier only if I had 1 BTC    

[Krishna1942]

May be possible with this uptrend, I have heard the news trump appointed former paypal ceo as crypto adivisor. Hope for best for bitcoin.

[pakhitheboss]

I guess so. Bitcoin has breached $100k and is currently consolidating, giving alts a chance to pump up.
Once it consolidates, I think bitcoin will take another pump before it starts dumping again for a good correction.
Yes, I think bitcoin will cross 1 Cr soon but I would have been happier only if I had 1 BTC    

The dump has already started but their is a strong upward trend at $95K to make it cross and remain in that price point. We saw how Bitcoin got dumped a day back to $96K but today it is again back and it is being traded at $99K. It did breach $100K a few hours back with a strong support. Then again their was a big dump and it again got below $100K.

I am assuming that before Trump takes the oath it will be trading sideways, as soon as he becomes the president officially the price of Bitcoin will go up and might breach the 1Cr price point.

[avikz]

Well! I would love to see Bitcoin reaching 1Cr mark. I may liquidate some of my holdings then to pay off my mortgage.

But it's difficult to happen so quickly. Right now the price is at 85 Lakh and another 15 lakh needs to be added to reach 1 Cr mark. While it's not impossible but it will take time. I don't think anything more will happen in December itself. Rather we may see the price going down a bit because of Christmas holiday. A lot of people actually liquidate their investment during this time to fund the celebrations and gifts.

However, it's not impossible at all!

[pakhitheboss]

Well! I would love to see Bitcoin reaching 1Cr mark. I may liquidate some of my holdings then to pay off my mortgage.

But it's difficult to happen so quickly. Right now the price is at 85 Lakh and another 15 lakh needs to be added to reach 1 Cr mark. While it's not impossible but it will take time. I don't think anything more will happen in December itself. Rather we may see the price going down a bit because of Christmas holiday. A lot of people actually liquidate their investment during this time to fund the celebrations and gifts.

However, it's not impossible at all!

I am aware of how the Christmas Holiday and after Christmas/January affect Bitcoin prices. While I am aware of the past I still believe Bitcoin might reach the 1Cr price point before the 25th and I think after that date the price will be going down. I am not sure at which price point Bitcoin will get dumped but I feel it will be 77.5% approximately in the current price or the price before the 25th of this month.

I agree that I am very positive or you can say that the Bitcoin price will be in a few days. We can inevitably stop the Bitcoin price from going up and up, with positive statements from the upcoming president of the US, I am certain now that the price of Bitcoin will go beyond 1Cr in the coming days.

[Bitcoin Smith]

I am aware of how the Christmas Holiday and after Christmas/January affect Bitcoin prices. While I am aware of the past I still believe Bitcoin might reach the 1Cr price point before the 25th and I think after that date the price will be going down. I am not sure at which price point Bitcoin will get dumped but I feel it will be 77.5% approximately in the current price or the price before the 25th of this month.

I'd agree on this point because in my observation especially during the bull year the December is a crucial period of bump so yeah another 14K is not that far just another day is more than enough to reach. What I am expecting is 1.5Cr at the peak of this run which seems very much possible to me considering the previous ATH was around 70 lakh if I am not wrong so even doubling will take the price near to it.

[JSRAW]

Arey ladko thoda bahut enjoy bhi karo paiso ko.

[pakhitheboss]

I'd agree on this point because in my observation especially during the bull year the December is a crucial period of bump so yeah another 14K is not that far just another day is more than enough to reach. What I am expecting is 1.5Cr at the peak of this run which seems very much possible to me considering the previous ATH was around 70 lakh if I am not wrong so even doubling will take the price near to it.

I guess there might be a slight delay but Bitcoin can achieve the 1Cr mark and I am after that a big dump. Some analysts have already started speculating that the price of 1BTC will return to $60K next year. I hope it reaches the 1Cr mark and profit booking starts after that price point. Another important factor is the INR value to USD has been growing and after Trump takes the oath it will go up more as per RBI. That should help Bitcoin to reach that price point in INR.

[pawanjain]

I guess there might be a slight delay but Bitcoin can achieve the 1Cr mark and I am after that a big dump. Some analysts have already started speculating that the price of 1BTC will return to $60K next year. I hope it reaches the 1Cr mark and profit booking starts after that price point. Another important factor is the INR value to USD has been growing and after Trump takes the oath it will go up more as per RBI. That should help Bitcoin to reach that price point in INR.

Regarding the price falling back to $60k, even I am positive about this.
Looking at bitcoin price history, I am quite certain that bitcoin will fall below $70k in the next bear market.

Arey ladko thoda bahut enjoy bhi karo paiso ko.

Abhi toh accumulate he kar rahe hai, itne paise hai he kaha ki enjoy kare 
Lagta hai or do teen bull cycle lagega, enjoy karne laayak paise jama hone me 

[pakhitheboss]

Regarding the price falling back to $60k, even I am positive about this.
Looking at bitcoin price history, I am quite certain that bitcoin will fall below $70k in the next bear market.

I remember 2018, when Bitcoin's price went to a low of $3K in January after creating a big new ATH in December 2017. The fall is always big just like the rise and after reaching this incredible price point of more than $100K it will fall big for sure. I am an optimist and that is why I do not think that the price will go below $80K as ETFs are still pumping the USD to purchase Bitcoin. I only hope that the price of Bitcoin reaches INR 1Cr before the price goes down as it will be a significant milestone achieved by Bitcoin in INR.

[pawanjain]

Regarding the price falling back to $60k, even I am positive about this.
Looking at bitcoin price history, I am quite certain that bitcoin will fall below $70k in the next bear market.

I remember 2018, when Bitcoin's price went to a low of $3K in January after creating a big new ATH in December 2017. The fall is always big just like the rise and after reaching this incredible price point of more than $100K it will fall big for sure. I am an optimist and that is why I do not think that the price will go below $80K as ETFs are still pumping the USD to purchase Bitcoin. I only hope that the price of Bitcoin reaches INR 1Cr before the price goes down as it will be a significant milestone achieved by Bitcoin in INR.

ETF point is surely valid. It's more like stable money inflow and peopel might not sell their ETFs in case of a bear market but we never know.
It's gonna be first time for all of us seeing how ETFs perform in a bear market.
Even in that case, I am still expecting a 50% price drop at least which means we might see price falling to $50k (just a speculation).
By the way, why are you stressing so much on 1 Cr INR ? Is it your take profits target ?   

[pakhitheboss]

By the way, why are you stressing so much on 1 Cr INR ? Is it your take profits target ?   

I saw a few days back on reddit someone paid of his mortgage after Bitcoin reached $100K. I have some what similar plan in my mind and that is why the stress. I hope it happens this time and I cannot wait a few more years for it to happen.

[amishmanish]

Arey ladko thoda bahut enjoy bhi karo paiso ko.

Jiske paas hain woh kar le..Kisne hi roka hai bhai?

I suppose there must be thousands of people from the forum who made their lives during the bull runs. Its pretty astonishing to realize that 1 BTC is almost a Crore in INR now. I wish I had been one of the lucky ones but things never quite reached that point due to other distractions and upheavals in life.

In any case, i am old enough to realize that the moonshot stuff will never work for me. I am just going to have to do it the hard way always.
Good for those of who made it though..Enjoy your life!

[pakhitheboss]

I suppose there must be thousands of people from the forum who made their lives during the bull runs. Its pretty astonishing to realize that 1 BTC is almost a Crore in INR now. I wish I had been one of the lucky ones but things never quite reached that point due to other distractions and upheavals in life.

Oh! What a suprise for the Indian community. I will not ask you to be active as I am somewhat aware in the reason why you and others have ditched the forum.

Indeed! It is a pleasure to here from you and please don't say that you haven't made 1BTC when you were part of a big signature campaign. You are one of the legends of the local board and I hope you stay healthy and I hope others like you visit & discusson our local board whenever you or others have time.

Thanks for being there. I highly appreciate your contribution here.

[pawanjain]

I suppose there must be thousands of people from the forum who made their lives during the bull runs. Its pretty astonishing to realize that 1 BTC is almost a Crore in INR now. I wish I had been one of the lucky ones but things never quite reached that point due to other distractions and upheavals in life.

Oh! What a suprise for the Indian community. I will not ask you to be active as I am somewhat aware in the reason why you and others have ditched the forum.

Indeed! It is a pleasure to here from you and please don't say that you haven't made 1BTC when you were part of a big signature campaign. You are one of the legends of the local board and I hope you stay healthy and I hope others like you visit & discusson our local board whenever you or others have time.

Thanks for being there. I highly appreciate your contribution here.

It always feels good to hear from the old timers on this local board. This gives me an idea.
How about celebrating a "decade anniversary" for Indian people those whoever is active on this forum.
avikz will be celebrating his forum decade anniversary next year and then the year after that it's gonna be me and TheUltraElite  

[pakhitheboss]

avikz will be celebrating his forum decade anniversary next year and then the year after that it's gonna be me and TheUltraElite  

Oh, WOW! Some of the best active old timers will be celebrating a decade of actively engaged on the local board and within the forum. This does call for celebration and I think there should be a dedicated thread for those members who have been active here for 10 years or more. I will come up with the thread title and on that thread I will highlight some of the best replies and topics created by those members. What so you think ?

[TheUltraElite]

avikz will be celebrating his forum decade anniversary next year and then the year after that it's gonna be me and TheUltraElite  

Oh, WOW! Some of the best active old timers will be celebrating a decade of actively engaged on the local board and within the forum. This does call for celebration and I think there should be a dedicated thread for those members who have been active here for 10 years or more. I will come up with the thread title and on that thread I will highlight some of the best replies and topics created by those members. What so you think ?

At this point anything new on this section is a ray of sunshine.

Who knows maybe in the next two years we will be able to each 1Cr/BTC and then we will look back at how the government had treated bitcoin in the last few years. Whether we went back in technology or went forward with it.

Lets make sure to keep the section active while we are at it.