Bitcoin $6000(bloomberg.com)
bloomberg.com
Bitcoin $6000
https://www.bloomberg.com/news/articles/2017-10-20/bitcoin-nears-6-000-as-bulls-refuse-to-blink-at-regulation
1 comments
Predictions on how high it will go and why?
I think bitcoin will go to $10,000 USD and when it reaches the five digits people will stop caring about 1000 USD price fluctuations, just like people no longer care if the price increases or decreases $100 USD.
I think the price will slowly reach $100k and $500k and we'll see trillions in market cap. I think the bitcoin price reflects our economy; the more governments/central banks print money, the higher the bitcoin price will be.
Bitcoin already is a good store of value, but I think in the long term we'll also see bitcoin being used as money, with things like the Lightning Network.
I think we'll see more soft-forks being done by the community to improve the network and make things more efficient.
Also, when the price goes higher than $500k people won't even notice price fluctuations anymore, so the price will remain stable and people will start using it as money.
I also think that people will stop comparing bitcoin to fiat eventually. Maybe we'll say 1 BTC == 1 BTC, or 1 BTC is worth N mBTC?
Of course this won't happen overnight, but it will happen, the only thing bitcoin needs to do is survive until it reaches mass adoption.
We already hit $100 billion market cap, $1tn is right around the corner. The price should only increase with the market cap increasing.
"When bitcoin goes to the moon, it becomes the moon" —Richard Heart
I think the price will slowly reach $100k and $500k and we'll see trillions in market cap. I think the bitcoin price reflects our economy; the more governments/central banks print money, the higher the bitcoin price will be.
Bitcoin already is a good store of value, but I think in the long term we'll also see bitcoin being used as money, with things like the Lightning Network.
I think we'll see more soft-forks being done by the community to improve the network and make things more efficient.
Also, when the price goes higher than $500k people won't even notice price fluctuations anymore, so the price will remain stable and people will start using it as money.
I also think that people will stop comparing bitcoin to fiat eventually. Maybe we'll say 1 BTC == 1 BTC, or 1 BTC is worth N mBTC?
Of course this won't happen overnight, but it will happen, the only thing bitcoin needs to do is survive until it reaches mass adoption.
We already hit $100 billion market cap, $1tn is right around the corner. The price should only increase with the market cap increasing.
"When bitcoin goes to the moon, it becomes the moon" —Richard Heart