With the rise of Bitcoin and the seemingly invincible run it's been on is there anything that can stop it from becoming mainstream? Even last week when it looked like it was heading down in value, it's bounced right back and is pushing for higher highs than ever.
BTCC CEO Bobby Lee predicted Bitcoin reaching a value of $5-$11,000 by 2020. After this latest spike, the lofty claim isn’t entirely unreasonable. With blockchain technology rapidly moving beyond the
payments processing sector into other industries, the value of
cryptocurrencies as technology will continue to rise. More exciting
reveals are on their way as cryptocurrencies firmly establish
themselves as part of mainstream technology.
https://www.cryptocoinsnews.com/the-surge-continues-btc-eth-reach-new-heights/
Bitcoin has a limited supply of 21 million which is expected to be
reached by the year 2040. In 10 years, the analyst thinks that there
will be 17 million bitcoin in circulation, up from the current 16.3
million figure.If the potential 17 million of bitcoins in supply is divided by the
$1.75 trillion market cap estimate, then each bitcoin would be worth
just over $100,000.
http://www.cnbc.com/2017/05/31/bitcoin-price-forecast-hit-100000-in-10-years.html
Wences Casares, CEO of bitcoin wallet Xapo and member of PayPal’s
board of directors has made a compelling forecast on bitcoin’s value
over the next decade.“Put 1% of your net worth in Bitcoin and forget about it for 10 years”
Casares added, baiting new investors to adopt the cryptocurrency.His speech also included a prediction for the cryptocurrency, where
one bitcoin would hit $1 million before the next ten years.https://www.cryptocoinsnews.com/bitcoin-will-hit-1-million-5-10-years-says-paypal-director/
Aurelien Menant, CEO of Gatecoin, said bitcoin could hit $6,000 by
year’s end, amending his earlier $3,000 forecast this year.
https://www.cryptocoinsnews.com/analyst-predicts-bitcoin-price-correction-at-2800-followed-by-continued-gains/
All I can say is get in now. I do believe that owning at least 1 Bitcoin is the best thing you can do for your future. Even if you just buy 1 and forget about it. I don't think anyone will be sorry. I plan to keep consistently plugging away at buying Bitcoin while buying others as well.
I feel like Bitcoin is one of those things people will be kicking themselves for not getting in on in 5-10 years from now. Just like how I feel for not getting into it earlier.
I agree. While many people are waiting for a dip in the price again to buy, if you buy for the long term...it matters less. I bought many cryptocurrencies that lost after I bought them, but I held on to them and they went back up even higher, turning me a profit. If you look into the future further...it won't matter much whether we buy at a price like $2800 or got it in the dip near $1800. That $1000 is small in comparison to the $7200 we'd see if it hits $10,000.
What do you think Bitcoin will be worth 5 years from now?
I wouldn't be surprised in the slightest if it was over $100,000 5 years from now. I actually have that sick feeling lately that I won't be able to buy enough of it quickly enough. I tried to buy more of it on the dip to $1800 but because I'm relatively new to Coinbase it wouldn't let me buy nearly as much as I wanted to.
What do you think it could hit?
Where do you think it will be in 5 years?
No one knows what will happen to bitcoins and altcoins, but as long as the majority expects crypto currencies to rise - they will rise. Looks like a lot of (or maybe all?) 'experts' expects crypto currencies to rise.
Nicely written. How do you think Ethereum will do?
I'm really on the fence with Ethereum. I think it has every chance to do well but not being a finite amount I think will hurt its long term value. I have a couple so I will most likely hold them to hedge my bets. Although I may end up exchanging them for Bitcoin because I really see that as the long term greatest value even at it's current price.
Nice analysis man
Meanwhile, buying 1 Bitcoin is already quite a sum of money way beyond what the average individual investor is prepared to lose.
I agree that it's crazy what the price is at but I also wouldn't be shocked if next year we're looking back at it from $10,000 grand saying what a steal it was at $3,000. I can't afford to throw away $3,000 currently but I'm cutting back wherever I can to grow and grow my holdings in crypto because I don't see a time in the future where that's a bad decision. I was on the fence for awhile but this last 2 weeks I've become more convinced than ever that Bitcoin will be one of the greatest investments I make in my lifetime.
It's more than I'm willing to lose but I'm buying 1 anyway. I just can't see bitcoin falling apart and becoming nothing. It may not rise as quickly as everyone thinks it will but I feel like in the long run you won't lose. Famous last works I know but I think Bitcoin is here to stay.
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