Bitcoin will reach 100k by the end of next year + "proof" + Make your predictions

[integral]

If we follow bitcoins logarithmic growth since its birth to now it follow a pattern. 

https://studio.glassnode.com/metrics?a=BTC&category=Favorites&m=indicators.StockToFlowRatio&mAvg=7
 

Do you guys think it will continue to follow this pattern? If so it will reach 100k some time next year. 

This one shows us how undervalued it thinks bitcoin is right now, the current price being 15k is super cheap. 

https://studio.glassnode.com/metrics?a=BTC&category=Favorites&m=indicators.StockToFlowDeflection&mAvg=7

 

 

 

Make your predictions

Edited November 9, 2020 by integral

[Roy]

Maybe, but I think it's due for a large crash in the coming months and it's going to hover around 7k-13k again for a year like it did for a while before. Covid is getting much worse and people are going to be hurting for a long time, worrying about the real economy, not an internet one.

[Leo Gura]

You have no idea and you're just gambling.

Be careful playing markets.

It could just as easily follow a logarithmic scale down to zero.

[Girzo]

I don't believe in Bitcoin reaching $100k next year, but I was so wrong about it so many times I don't value my own opinion, haha. Had bought at $100 and sold at $1000 thinking it will never get higher.  

But yeah, I think it will flatten and stop growing. I don't know where the money to pump the price would have to come from, the big players are already invested in it, and normies won't start using it for transactions, like ever, when the cost of a single transaction is around $10 or more.

[Heart of Space]

It most likely will not.  It's penetrated our culture to some degree as a store of value especially with young people, much like gold is.  Will it go up over time?  I believe so, but it will never reach the heights talked about by those who claim it will replace fiat currency.  Most likely its value chart will end up looking like silver or gold over time, which over the years has many peaks and troughs.  That is until people stop being interested in it as a store of value and move on to the next thing.  

I've seen a lot of those logarithmic charts and grandiose predictions, even bought into it for a short period of time.  Soon after I saw why bitcoin bulls were completely delusional, most of them fooled by the same arguments and conspiracy's that are against the idea of central banking and for a gold standard.  Long story short, a central banking system built on MMT is the superior form of currency, by far, it's not even close.  

Edited November 9, 2020 by Heart of Space

[Average Investor]

When, I see posts about bitcoin price predictions on actualized to me it would be a good indicator to sell. If you were trying to time the market that is. In my opinion just put it aside and forget about it. 

Edited November 9, 2020 by Average Investor

[integral]

Lets imagine that bitcoin reaches 100k by end of next year, Where did the money come from?

Bitcoins market cap would have to rise from 200 billion to 1.6 trillion.

Where will the trillions of dollars that will be pumped into the market come from? 

 

They are saying the next run will be fuelled by Decentralized Finance (DeFi). There is already 12 billion looked into DeFi. 

https://defipulse.com/

The boom happened in September this year. The growth is crazy. 

Edited November 9, 2020 by integral

[7thLetter]

You should just stay away from posting stuff like this on these forums. From what I've seen most here aren't educated on things like this.

Its a possibility it could reach $100K but we can't say when. Let's just say within' the next 5 years.

[Yarco]

I'm a big Bitcoin fan but I still think 100k by the end of next year is unrealistic. 3 - 4 years maybe.

Every bull run is lengthening -- it's taking more time to go up by a smaller % than last time.

[ted73104]

Although Bitcoin has huge potential, it is not the most common currency used in any country yet, and it will have many obstacles getting to that position. So if you like Bitcoin, hold on to it. But don't think of Bitcoin as a get rich quick scheme.

[JosephKnecht]

It will reach $100k by the end of next year only temporarily, and then it will go back to the $20k-$30k range.

The only reason for this is because governments around the world are printing money and the world is on fiat money standard. Most of this newly printed money now is flowing into stock markets as speculation, but eventually, people will realize that the fiat money system is in jeopardy if governments continue to monetize their own debt. In order to diversify out of the fiat money system, investors will start buying scarce assets (gold and bitcoin).

Don't look at short term trading, but rather try to analyze long term trends when making investment decisions.

[PurpleTree]

yikes bitcoin/crypto broke my heart in 2017 when that bull run happened

[Stovo]

Bitcoin is a very risky investment. It's a brand new technology and people do not know for sure what will happen. If you do wish to speculate please ensure you only put in as much money as you afford to lose.

Having said that, and this is just my own personal opinion (do your own research), I am very bullish on bitcoin in the long term. It's an asset that grows more and more scarce across time due to halving events and the fact that lost crypto is essentially impossible to recover. Although 21 million bitcoin will be the final amount mined, the amount recoverable will be much lower than this as more and more crypto gets lost over time. 

On the demand side, there is enough belief in the project that there will always be a base support level due to those who will never sell their bitcoin, which rises over time as more people get personally involved with bitcoin. Also, Millenials and Gen Z are known to be enthusiastic on crypto, whilst older people lean towards gold. So demographics favour crypto over the long run. 

 

Will it reach 100k by next year? The patterns of history do suggest this would be the case, given x amount of time after a halving event. 100k would give Bitcoin a total market cap of just under $2 trillion. For reference, Gold has a market cap of $9 trillion. 

$2 trillion sounds like a huge sum, but it's misleading in some respects as the value is driven up by the simple fact that some bitcoin is lost and most others do not want to sell. If everybody tried to cash in their crypto then the market value would crash. $2 trillion is certainly achievable.

 

Having said all that, I think you are looking at bitcoin in the wrong way. You should be thinking about what role it might have in a well-diversified portfolio. Does it increase your expected returns? Does it lower your risk to traditional markets? Is it a good hedge against inflation? 

 

[AtmoShark]

Are you investing in bitcoin to speculate? Because there are significantly better investment vehicles that offer superior returns to bitcoin. I've noticed that most bitcoin fanatics are absolute idiots when it comes to actual finance and business. 

[Stovo]

@AtmoShark I would place it in the speculation category. It simply hasn't proved itself in the same way as gold has. Still, there's nothing wrong with placing a small portion of your portfolio in bitcoin, as long as you are aware of the risks. 

It's untrue that bitcoin fanatics are idiots when it comes to finance and business.

[JosephKnecht]

6 hours ago, Stovo said:

$2 trillion sounds like a huge sum, but it's misleading in some respects as the value is driven up by the simple fact that some bitcoin is lost and most others do not want to sell. If everybody tried to cash in their crypto then the market value would crash. $2 trillion is certainly achievable.

Why is $2 trillion a huge sum? It's just an average amount of US "stimulus" package.

And the whole world is "stimulating" by printing money.

If bitcoin is the next generation of money, $2 trillion is just a drop in the bucket. 

[Stovo]

@JosephKnecht Some people may see it as a huge sum, but it's all relative.

[snowyowl]

If there's a choice of other crypto currencies out there, and Bitcoin is starting to show its age, then maybe there'll be some competition if the newer ones have a technical or price advantage. What is Bitcoin's advantage? Just its large size and brand image? 

[Guest SirVladimir]

Bitcoin is being held up mainly by hype, for it has the privilege of 'being the first'. Newer generations of cryptocurrencies are faster, more secure, better scalable, more efficient, cheaper, allow smart contracts, etc. Bitcoin is this huge, slow, derelict mothership trailing behind the flock; it's the boomer of crypto that has breastfed many younglings.  No government would ever want to work with Bitcoin for sure. The cost of one transaction is around $7 as of today and has soared up as high as $55 in the past, so its definitely not going mainstream. Imagine buying coffee and paying thrice the price.

 

[integral]

https://alternative.me/crypto/fear-and-greed-index

https://studio.glassnode.com/metrics?a=BTC&category=Favorites&m=indicators.NetUnrealizedProfitLoss&mAvg=7

 

The funniest indicator of all time.  Buy when people are scared, sell when they are euphoric. 

We are in the extreme greed 90 percent range, if you see a 95 SELL, the market does not survive. 

Edited November 13, 2020 by integral