FORBES Article BTC

in #bitcoin ā€¢ 7 years ago (edited)

9 reasons Bitcoin could hit $100,000 or more (based on Forbes article)

šŸ“ŒLimit to 21 million bitcoins. Having it be harder to mine, along with a limit on how many can be created, makes the supply side come into play.
šŸ“ŒLost keys. In fact, total amount of bitcoins is even less than 21 million. A huge number of CC keys is already lost forever, which also lowers the supply.
šŸ“ŒNetwork effect and media exposure. More and more people learn about cryptocurrencies and enter the market.
šŸ“ŒLarge investment firms lend credibility. Significant financial institutions wouldnā€™t be putting resources and people into CCs if they didnā€™t feel they werenā€™t viable.
šŸ“ŒItā€™s getting harder and costlier to mine. If mining costs increase it could slow down how fast new Bitcoins are created which would put a damper on its short-term supply.
šŸ“ŒHoarding of Bitcoins could occur as their owners expect their value to increase. While this could limit the supply of Bitcoins this can occur with any asset.
šŸ“ŒIllegal activities. Since Bitcoin users can remain anonymous and can work from anywhere in the world, this could lead to an increase in demand for them least at the margin.
šŸ“ŒBitcoin has started to gain traction with people who live or send money to countries whose governments they donā€™t trust such as Zimbabwe or where inflation is very high, for example Venezuela.
šŸ“ŒFOMO or Fear of missing out. Investors donā€™t want to miss out on the next big thing and to a degree also want bragging rights that they own Bitcoin

Source : https://www.bitcoinisle.com/2018/01/13/9-reasons-bitcoin-could-hit-100000-or-more/

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