$10,000 when?

[hugger]

Maybe another 5 years.

[arbitrage001]

Forget the $1m & $100,000 predictions, what's everyone's opinion on when bitcoin will hit $10,000?

Highly unlikely to happen.

[Bitcoin Seller]

Forget the $1m & $100,000 predictions, what's everyone's opinion on when bitcoin will hit $10,000?

Probably won't happen , I would say 1,000$ at the beggining of 2015 .

[inca]

When you don't expect it.

[djnocide]

Maybe another 5 years.

5 or 10 we don't know

[brg444]

predictions in this thread are laughable 

you are all severely underestimating the power of greed & speculation.

[gkv9]

It seems that BTC currently is struggling even to get to that $1000 mark again...

Do you guys still think that it's possible for it to reach that amount in the next few years?

[Omikifuse]

never

[llanillo]

That would take years !! or maybe never .. we dont know... but i believe it will reach that price in 4 years..
I hope when the price comes i  get to have a lot of bitcoins hehe

[bornil267645]

Why should it need to reach that mark. I am perfectly happy with the way it is. And if I want to see my favorite currency in the mainstream, I hope it remains same.

[labsbitforum]

When considering if/when bitcoin price will hit $10,000 per coin remember:

Presently 3,600 coins are created each day.
At the current price of $375 per coin, that's $1.35M of additional supply created daily and $493M of additional supply created yearly.
The amount of demand coming in has been less than "Existing Supply" + "New Supply" so the price has been going down.

If bitcoin was to reach $10,000 per coin before the next halving.  (Currently estimated to occur 2016-07-31)  http://bitcoinclock.com/
The amount of new supply created would be:
Daily = $36 Million
Yearly = $13.1 Billion

Its not going to happen.  

Edit: Yes I made a simple error.  I had excel open working on something else and copy paste failed me.  Corrected.  Doesn't change my point that that level is not realistic or sustainable.  dinofelis 6 posts below offers the only scenarios remotely plausible where this could happen.

[Biodom]

When considering if/when bitcoin price will hit $10,000 per coin remember:

Presently 3,600 coins are created each day.
At the current price of $375 per coin, that's $1.35M of additional supply created daily and $493M of additional supply created yearly.
The amount of demand coming in has been less than "Existing Supply" + "New Supply" so the price has been going down.

If bitcoin was to reach $10,000 per coin before the next halving.  (Currently estimated to occur 2016-07-31)  http://bitcoinclock.com/
The amount of new supply created would be:
Daily = $36 Million
Yearly = $493 Billion

Its not going to happen.  

daily 36 mil=yearly 13.1 bil, NOT 493 bil

yearly 13.1 bil is a small number. We have single entity hedge funds that have more under management.
A single minuscule entity-Second market seems to be buying BTC at a ~1000-1500 BTC/day average in the last 2-3 weeks.

[Wilhelm]

Why should it need to reach that mark. I am perfectly happy with the way it is. And if I want to see my favorite currency in the mainstream, I hope it remains same.

I don't understand people who say things like this.

Me neither. Either you're used to being broke or a billionaire, if you don't want to make money.

We as pioneers should be rewarded  

[Dafar]

Why should it need to reach that mark. I am perfectly happy with the way it is. And if I want to see my favorite currency in the mainstream, I hope it remains same.

I don't understand people who say things like this. Wouldn't you be happier to buy more with the coins you have?

Yeah... it really pisses me off. These fucking idiots must hate money

[TwinWinNerD]

When considering if/when bitcoin price will hit $10,000 per coin remember:

Presently 3,600 coins are created each day.
At the current price of $375 per coin, that's $1.35M of additional supply created daily and $493M of additional supply created yearly.
The amount of demand coming in has been less than "Existing Supply" + "New Supply" so the price has been going down.

If bitcoin was to reach $10,000 per coin before the next halving.  (Currently estimated to occur 2016-07-31)  http://bitcoinclock.com/
The amount of new supply created would be:
Daily = $36 Million
Yearly = $493 Billion

Its not going to happen. 

Who told you math? you are off by a factor of 50!

[dinofelis]

When considering if/when bitcoin price will hit $10,000 per coin remember:

Presently 3,600 coins are created each day.
At the current price of $375 per coin, that's $1.35M of additional supply created daily and $493M of additional supply created yearly.
The amount of demand coming in has been less than "Existing Supply" + "New Supply" so the price has been going down.

If bitcoin was to reach $10,000 per coin before the next halving.  (Currently estimated to occur 2016-07-31)  http://bitcoinclock.com/
The amount of new supply created would be:
Daily = $36 Million
Yearly = $493 Billion

Its not going to happen.  

You can have an idea what are the conditions for bitcoin to reach $10,000.- per coin.  
If you consider bitcoin as a monetary unit, then it would mean a market cap of $150 billion grossly, which represents about 3% of the market cap of USD (M2 money).  That's not an unreasonable target for bitcoin to reach 3% of the US money market.
It is about a third of the illegal drugs market worldwide.

You can also see it otherwise.  $150 billion is about 2% of the gold market cap.

I think you made a slight mistake in your calculation: 36 million per day means 13 billion per year, not 493.  The inflation rate today is somewhat less than 10% per year.  That is still problematic as it is still much higher than the monetary inflation of most big fiat currencies: for the moment, it is bitcoin which is by large the most inflated currency.

So if bitcoin becomes a success on the few percent level in the gold market or the money market, $10 000, - is reasonable.

On the other hand, you do not do that overnight.  In order for 3% of the US economy to be paid in bitcoin, will take a certain time.  And it has to be really in bitcoin, not just "using bitcoin a few hours between buying the coins, spending them, and the merchand trading them back into fiat".
It means: being paid in bitcoin each month, keeping bitcoin as one's salary, and spending it at the groceries.

Not yet.  But if bitcoin is to become somewhat of a monetary success, a few percent of the market would be the minimum one would expect, no ?

On the other hand, a surge to $10,000.- cannot be stable if the fundamentals (a few percent of the gold share, a few percent of the US economy) are not there, or are not in sight.  So that is not sustainable.  If ever there is a pump to $10.000,- it will for sure be followed by a huge crash.   But, apart from a massive market manipulation, I wonder who would be the idiots to buy at $10.000,- in the coming years.  Or even to buy at a few $1000.- as long as a single percent of the market share is not in sight.

[podyx]

If bitcoin was to reach $10,000 per coin before the next halving.  (Currently estimated to occur 2016-07-31)  http://bitcoinclock.com/
The amount of new supply created would be:
Daily = $36 Million
Yearly = $493 Billion

Its not going to happen.  

[labsbitforum]

Yes I made a simple math error.  I had excel open working on something else and copy paste failed me.  Corrected.  Doesn't change my point that that level is not realistic or sustainable.  dinofelis offers the only scenarios remotely plausible where this could happen.

You can have an idea what are the conditions for bitcoin to reach $10,000.- per coin. 
If you consider bitcoin as a monetary unit, then it would mean a market cap of $150 billion grossly, which represents about 3% of the market cap of USD (M2 money).  That's not an unreasonable target for bitcoin to reach 3% of the US money market.
It is about a third of the illegal drugs market worldwide.

You can also see it otherwise.  $150 billion is about 2% of the gold market cap.

I think you made a slight mistake in your calculation: 36 million per day means 13 billion per year, not 493.  The inflation rate today is somewhat less than 10% per year.  That is still problematic as it is still much higher than the monetary inflation of most big fiat currencies: for the moment, it is bitcoin which is by large the most inflated currency.

So if bitcoin becomes a success on the few percent level in the gold market or the money market, $10 000, - is reasonable.

On the other hand, you do not do that overnight.  In order for 3% of the US economy to be paid in bitcoin, will take a certain time.  And it has to be really in bitcoin, not just "using bitcoin a few hours between buying the coins, spending them, and the merchand trading them back into fiat".
It means: being paid in bitcoin each month, keeping bitcoin as one's salary, and spending it at the groceries.

Not yet.  But if bitcoin is to become somewhat of a monetary success, a few percent of the market would be the minimum one would expect, no ?

On the other hand, a surge to $10,000.- cannot be stable if the fundamentals (a few percent of the gold share, a few percent of the US economy) are not there, or are not in sight.  So that is not sustainable.  If ever there is a pump to $10.000,- it will for sure be followed by a huge crash.   But, apart from a massive market manipulation, I wonder who would be the idiots to buy at $10.000,- in the coming years.  Or even to buy at a few $1000.- as long as a single percent of the market share is not in sight.

[Flashman]

You can also see it otherwise.  $150 billion is about 2% of the gold market cap.

I think you made a slight mistake in your calculation: 36 million per day means 13 billion per year, not 493.  The inflation rate today is somewhat less than 10% per year.  That is still problematic as it is still much higher than the monetary inflation of most big fiat currencies: for the moment, it is bitcoin which is by large the most inflated currency.

So if bitcoin becomes a success on the few percent level in the gold market or the money market, $10 000, - is reasonable.

On the other hand, you do not do that overnight.  In order for 3% of the US economy to be paid in bitcoin, will take a certain time.  And it has to be really in bitcoin, not just "using bitcoin a few hours between buying the coins, spending them, and the merchand trading them back into fiat".
It means: being paid in bitcoin each month, keeping bitcoin as one's salary, and spending it at the groceries.

Not yet.  But if bitcoin is to become somewhat of a monetary success, a few percent of the market would be the minimum one would expect, no ?

On the other hand, a surge to $10,000.- cannot be stable if the fundamentals (a few percent of the gold share, a few percent of the US economy) are not there, or are not in sight.  So that is not sustainable.  If ever there is a pump to $10.000,- it will for sure be followed by a huge crash.   But, apart from a massive market manipulation, I wonder who would be the idiots to buy at $10.000,- in the coming years.  Or even to buy at a few $1000.- as long as a single percent of the market share is not in sight.

That's the way I like to look at it, few percent of gold, few percent of reserve, few percent of forex, few percent of ecommerce, few percent of bricks and mortar commerce, few percent of the 1%'s stash (Remembering that come 1st Jan Swiss banks have to report holdings!) any ONE of those quickly runs into hundreds of billions.

At the moment, I think we have the fundamentals to sustain 2500ish, of course when the market realises that, it will overshoot quite a lot, people may buy at 10k because they think it's good for 12K looking at the uptrend.... *poof* and it's gone, yoyo back down, pull up around 1000-1500, and level in the 2000s... then we get all antsy for months again saying "when's it gonna go back to 10k where it should be" and meanwhile it's building the fundamentals for the next round of crazy... it's gonna take a few years before we've got "stable" stable. It will take chunks of some markets practically overnight... then meet resistance, and just chip away at them at a small percent a year.

[gkv9]

Why do people think that it's impossible for BTC to reach there? Not only limited to such factors as %s of gold, forex, stocks, equities, etc., but we must not forget that whenever the stagnancy of either miners or BTC will take place, some huge longs or shorts will take place for sure...

Even I hate it when someone says it's impossible as I'm too a firm believer that it will reach that for sure... Winklevoss brothers ain't much fools to say that BTC will be $1,00,000 one day...