Clif High stated in his latest interview that the next shark tooth for Bitcoin is starting around the 6th and boy was he right. Yesterday the price few up. Today it seems to stabilize somewhat before testing higher highs.
He's predicting a rise up to 13800 for February 2018. That would be a 430% increase in 6 months time. From Feb 16 (when BTC was about $1000) till now, a six month span, the price increased roughly by 340%. If we assume the 300% per 6 months is going to last - which I know is crazy because it probably won't. Then this is what I conclude:
Yes Bitcoin would be 1 million!
However Clif also was talking about the 1% global awareness which is now being reached (in aug/sept 17). He says it took 8 years to get to this 1%, but it will only take 8 months (May 2018) to reach 2% and only 8 weeks (July 2018) to reach 3%. This 3% will see a shift in assets going from fiat into crypto.... with BTC being the flagship?! Once big money starts to flow in, a snowball effect is highly likely. Especially if the fiat systems death starts to increase in momentum.
Based on this a 1 million dollar price for BTC by February 2020 might actually be considered on the low side of possibility.
If we go crazy and steadily increase the value of bitcoin we could see an insane guesstimate of 21 million dollar per BTC in Feb 2020:
Do I think it's likely - NO! not a chance in hell. I can't imagine this. The hyperinflation of real currencies must be off the scale - think Venezuela style - should this come to pass, which I rather hope it won't.
But should the insane happen, you read it here first!
Oh yes, I suck at math, so should any of my calculations be off... well shame! Feel free to post the correction below.
Quite the bullish outlook! Guess I should get a little more BTC...
Yes, I'm a glass overflowing person. Can't help it. Bought some in January for 1000 euro, which I had to sell a bit of the other day to fund my normal account, sold for more than double :D I use it for saving now... for money I don't need need!
We think alike! Upvoted!
My analysis nailed the recent Bitcoin Cash bottom and rally. Check it out:
https://steemit.com/@haejin
Thank you! I will.