Why Bitcoin Could hit 100k and why it can fall to 1k
Why Bitcoin Could hit 100k and why it can fall to 1k
Why it could hit 100k
1- Limited to 21 million Bitcoins
2- First mover, network effect and media exposure
3- FOMO or Fear of missing out
4- Lost keys
5- Large investment firms lend credibility
6- Harder and costlier to mine them
7- Hoarding
8- Safety currency
9- Illegal activities
Why it can fall to 1k
1- Regulation could have the biggest impact
2- South Korea
3- Japan
4- China
5- U.S. regulation
6- There is no “value” to it
7- Volatility can create nervousness
8- Leverage can be very bad
9- A shakeout is coming
10- ICOs (Initial Coin Offerings)
11- Hacking theft of CCs
12- Bitcoin mining scams
13- Becomes too associated with criminals and rogue states
14- Third parties changing their minds
15- Bitcoin & Blockchain movie looks a lot like dot-com in 1999
16- It all comes down to trust
Everything is possible but I really can't see Bitcoin down to 1.000$. At least not for a long time.
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