🎢 Possible Scenario for Bitcoin in 2023? - To da Moon 🌙 or Nonsense? 😲
Hello Steemit friends,
Bitcoin in 2023 about 1 Million price prediction?
Today we are already above $6,000, simply staggering price increase since start of 2017! Below you see the curves
blue = linear
black = logarithmic
Can you imagine the trendline over black curve? This trendline flattens over time..
So why i paint such possible scenario? Let's see if we extend the black price line following the imagined flattening trendline to the year 2023!
Now let's show the trendlines which i used for the prediction!
What do you think, could that be a possible scenario for Bitcoin or just nonsense?
All chart graphics based on screenshots from highcharts.com
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Some analysts said the price would be $ 25,000 after five years
Yes Tom Lee said it on CNBC's Fast Money.
https://www.cnbc.com/video/2017/09/14/tom-lee-heres-why-bitcoin-will-hit-25000.html
That is a number many can imagine i think. But the number alone isn't fundamental value. It's exciting to think about. Thank you!
It make sense in my opinion onetin84! Just wonder where the correction will be and how all this wide west ico will be regulated! keep great content going!
ok, let's do that 😎
animation from giphy.com
It is possible...anything is possible...but unlikely by that date.
Taking an existing trendline and moving it forward is risky business. Things rarely stay on the same path or trajectory. Over time, high flying assets tend to slow down a little and their lines flatten out.
That isnt to say BTC wont be higher, even a lot higher come 2023....I would just be surprised to see anywhere close to that.
yes i'm too for sure, it's about all these predictions with technical chart analysis. Possible fantasies without any prove. My lower scenario was about $100,000 but even that is crazy. But someone said and i think it's logical we as humans cannot think exponentially or we have a hard time, because of the staggering numbers. Who would have believed what Buffett created with a former and boring cotton textile business over decades?
Thanks for your nice comment!
Very good point about the linear versus exponential thinking. We as humans have no idea, for the most part, how to think exponentially.
It is funny that you mention the $100K level for bitcoin. I wrote an article today spelling out why the financial people have no clue about bitcoin (since they look at it from a financial perspective) and the technologically, bitcoin will be $100K.
I dont want to post the link since I dont want to be accused of spamming but you might want to click on my blog and check it out. I think I present a good technological case based upon what happens with the blockchain that will lead BTC to $100K.
Hey that sounds interesting, i'll read your post. Yes, my gut feeling is the same about the predictions. A analyst sees 200 day line and make his prediction or sometimes a much smaller window in a chart. Julian Hosp from TenX said the cryptoworld is doubling each year since 3 to 4 years. That could not sustain for long but for a while. A wood also grows exponentially for a time period until the curve flattens.
Thank you for the thought based on technology!
That is just too much haha :D
Really? Now i'm curious, why do you think?
Man that is some speculation you got there ;)
I wonder what is gonna come out if it gains this momentum :)
Oh yeah, that's pure speculation! I saw all the opinions from Dimon to McAfee, it's crazy, today i read of that man from the desert who talk about another Enron.. exciting times 😁
onetin84 hello,wow amazing information about bitcoin we like your posting and follow you keep it up my dear friend make new post and growth you steemit acc _thanks friend/
Thank you for the kind words!
Too far into the future to predict with any prices accuracy of crypto
I'm with you, we as humans always wanna see patterns and it's nice to draw a curve which is defined as function in mathematics.. for somebody that's enough to make a decision. Thank you!
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