Bitcoin at 55 000$ in 5 years according to a Wall Street’s top strategist ! Or how everybody is looking at Satoshi’s finger while he’s showing us the moon.

[abou]

SOOoo does it mean I can buy a yacht now ? Do they take credit card or what ?

Hello Steemy people ! I hope you’re well..It’s so hot here in Marrakech, ask @tiphaine but it’s good to be on holidays.

I read this news this morning and I felt the need to share with you. Like you, I read news like this probably every morning. The last one was from Goldman Sachs predicting a Bitcoin at 4000$ in the near future.
Yeeep the same guys who told us in the 2000’s that dot com companies’ balance sheets were legit.

Don’t get me wrong, that’s good news for me, it means that I’m going to be able to buy a yacht...or two.

But before going to my bank asking for a loan, let me ask this question : WHY should the bitcoin be at 55 000 $ or even better 1 Million ? Analysts say that it’s because of the supply / Demand effect and because bitcoin stocks are limited and Blockchain technology is the future, the usual “blablabla”

Sooo Gold is going to be at 1 million soon right ? Oil too ?

Again don’t get me wrong, I think blockchain technology is the future and I’m working with it but if I apply those predictions on other asset classes, why isn’t gold at 1 million now ?
Supplies are limited, everybody wants gold to craft jewellery and it’s a safe-haven currency. Here is gold price on 10 years…

where is my million ?

Same with oil, oil resources are limited, everybody is using it even if the other power sources tend to appear. Here is the price of oil in 10 years…

again, where is my million… I guess I need to call my bank and cancel this Yacht purchase.(What do you mean it's not refundable !?).

Bitcoin’s journey could be bumpy

With quantum computers that could break the POW and the POW itself which is more and more expensive, it could MAYBE be a little bit difficult to make Bitcoin’s prediction over 5 years ( who said even on 5 days ? ) right ?

Bitcoin is a great cryptocurrency, the first of its kind but it is the system behind it ( blockchain ) which is worth millions, billions don’t you think ? I feel like everybody is looking at Satoshi’s finger while he’s showing us the moon.

Alan’s out.

Comments

[gokulramdas]

I feel like adoption of great technology goes through 3 phases.

1. The toy phase.- This is the initial phase when noone really knows the potential of the tech. But all the geeks play around with it.
2. The influential phase - After a few years being around. It starts becoming influential in our thinking. I feel like blockchain tech is going through this now.
3. The norm - After 20 years or so blockchain will be indispensable. And become a normal part of our existence. (This is when Bitcoin prices would touch a million maybe)

[abou]

Agreed :

[davidwallace]

Exactly, could it potentially reach this? Yes. Is it possible to predict? Not possible whatsoever. We can't even predict the faith of bitcoin this time next month not to mind 5 years

[abou]

Definitely, its the technology's potential behind it which is endless .

[kukkeji]

not gonna happen.

[abou]

that's what I'm saying in the post, it's impossible to know.

[tiphaine]

Hahahaha I like your humour... as well as all this informative stuff, thanks again. Oh and yes I can confirm it is really hot here, I guess you follow what I am writing about, thanks ^^ In your metaphor, is the moon all the amazing things that we could do with crypto currencies ? I am learning so much please keep writing

[abou]

Thanks ;) Yes the moon is the blockchain ecosystem ( which is huge ) and the finger is the bitcoin / bitcoin price.