Building The Case Of $5,000 Per Bitcoin By Years End
There has been much talk about bitcoin hitting all time highs but where exactly might we be by the end of this year? Many including myself believe $5,000 + is a very real possibility, so much so I just bought more of it at $3,200!
But what are the driving factors in why and others feel this could be possible by years end? Lets take a closer look.
1 - Scarce Supply
If you don't know by now the max production on bitcoin will be 21 Million. These are coins mined per block and half ever 210,000 blocks. We just halved about a year ago down to 12 bitcoin per block instead of 25 per block . When bitcoin was first launched the block reward was 50.
This halving again should happen in 2020 as a rough estimate which would bring us to 6 coins per block which should be a huge factor on price as new supply continues to drop. You can watch this countdown at http://www.bitcoinblockhalf.com/
Now I am sure many of you are aware their is normal attrition as well such as lost wallets. Which will further decrease the supply and as demand for bitcoin continues to rise the simple rules of supply and demand will drive the price up.
2 - Gold or Bitcoin
News shows that many investors are starting to bail out of gold and silver and start pumping into crypto currency. What does this mean to bitcoin holders and other cryptos?
The money currently invested into gold is 8.2 Trillion dollars. We are sitting at 54 billion currently invested into bitcoin that's 0.005 Trillion as you can see what have a huge amount of growth potential still. Even if just 10% of money in gold was dumped into crypto we would be looking at a price of about $55,000 per bitcoin.
3 - SegWit and Lightning
You might have seen some rocky waters today as SegWit starts to activate on the network, rather normal really when any changes are happening. The big change we are waiting for now is the activation lightning and avoiding a fork. Lightning will allow Bitcoin to enable instant transaction and micro transactions. This is expected some time later this year no hard date as of yet.
Sir....I share the same thoughts ....I would like to add further .... the entry of hedge fund will take to usd 25000, then the total stock market capitalization is $80 trillion excluding bonds.... even some percentage of this shall migrate to Bitcoin taking it to $100,000...in 3 to 4 years time....New York stock exchange market capitalization is $18.7 trillion as the American bull market is likely to be in its final phase and some geo-political even can drag the global stock market any time...then instant low interest capital from the capital markets gets pumped into bitcoin.... therefore, $3400 price of the bitcoin today is just the fraction of the future value that we people presume and are willing to pay for it
Very good point there is major push for this in 2018. I had left it out of this since it was a price point for this year but you are correct there is major push in 2018 to get this into a ETF or some type of trade market to tap into literally trillions and trillions of dollars.
Right, the whole debate about the future value is a fun - but neverending one - since even the crypto "experts" can only make educated guesses and no one really knows. The best investment advice I've heard..which applies to investing in just about anything but especially cryptos, is buy regularly (once you've found a coin with a solid team and community you believe in), no matter the price. Chances are, if you do that, you'll look back after 6 months or a year and be very grateful!
I haven't done this on a regular basis (I've just invested whenever I happen to have the cash in my account) but just made my first recurring order (via coinbase) in LTC today! The future is exciting :)
Ha, i also just bought a few more. The thing is that i always buy some bitcoin to transfer to steem but i just can't sell these bitcoins, i love them to much.
I think lightning is planned for november this year, cheers and another good post, thanks!
I'll have to dig into lightning more if it is November it is for sure going to be one crazy last few months for bitcoin with so many unknowns and changes.
Who knows. You can't predict, there are many many factors depending on it. We can all just cross our fingers and in the meanwhile look for alternatives in case something happens. Or am I wrong?..
no one can predict but you can make a educated guess . You don't just blindly invest into stocks you do research and background work on them. The 3 core supporting articles above is why I believe we will hit that number.
I completely agree, it would be imbecilic to invest blindly. That's why I always coach my friends that I bring into the cryptoworld. But, let's say Bitcoin Cash, 2 years ago, who would've thought that they would ever exist?
Oh man, I had a long response written out and I accidentally clicked cancel at the end!
Ok, let's try to retype this... it's funny you both mention about never knowing @mrright @bitcoinflood - I also just said that above :)
Although I definitely hope we continue to break price milestones in BTC moving forward (and I hold BTC), we still have to be weary at this point. As @jeffberwick mentioned recently, there are some potential downsides to SegWit and if anything comes up over the next few weeks- months, we could see more folks favoring Bitcoin Cash instead. Not saying that will happen - and I'm not a technical guy so I can't go into a deeper analysis myself - but it's just something to be aware of. I'm going to keep the BTC I have but not buy more at least for the near term.
PS - as always, resteemed and upvoted!
yes right sir
$5,000 Per Bitcoin By december 2017
muy interesante hermano
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