Please read all the way to the end to get all the math and data.
So you think we are in a bubble with bitcoin? Do you think that things cannot go straight up. Well, after researching it some, I found out you can have outrageous increases over decades. Pullbacks are not a part of all markets. We can see a consistent upward growth without interruption. Hence, there is a path for Bitcoin to be $5.0M apiece which gives it a market cap of..well...a lot.
Now I know this is unbelievable to some people. How can something that costs roughly $5000 today increase 1000 times after increasing so much? It is impossible you say. Fortunately for all cryptocurrency holders and Hive people reading this post, you will now be in the know. Hodl onto those bitcoins because millions are in the cards. The impossible is possible. It has been right before our eyes all along. The problem is we all missed it. Too many of us focus upon stats in terms of our bias as to what we think is normal. We look at 10% APR, or even 15%, and believe that is max. Something going up 500 times is mind boggling to us. Yet, each and every one of us is involved that type of compounding without realizing it. Now, that the cat is out of the bag, it is easy to see.
Now the move I am going to tell you about started in the mid 1960s. In 1965, a technology was invented that would radically change an entire industry. Of course, the people who implemented it at the time did not know what would result decades later. I would imagine, if you told those people in 1965 that the numbers down the road would be in the thousands, they would have called you nuts (just like most of you are thinking about me with this post). Nevertheless, it did happen in spite of external forces trying to control the price. No matter what took place, the growth continued without so much as a pullback.
Here are the numbers:
We are looking at about $10 starting in 1965. That is our starting point. By 2015, this number had grown to an incredible $9990, That is 999X increase in 50 years. What is interesting is that it is still on its way up. Since 2010, the growth has been explosive. This bull run makes the one in the stock market look small. As of 2010, the numbers were still a reasonable $2250. Over the next half decade, we witnessed more than a tripling of in price and it is still going. There is no stopping a bull when it wants to keep running.
So taking the roughly $5,000 price tag of Bitcoin today, we see a multiplication factor of 1,000.
This gives us $5M per coin by 2067.
So there you have. Simple math to show how Bitcoin will be $5M in the next 50 years. All you have to do is hodl for the long term and you will be fine.
For those who still dont believe, here are data:
This chart shows the growth from 1965-2010.
http://mediatrackers.org/national/2013/10/01/8-charts-explain-explosive-growth-u-s-health-care-costs
And this link shows where the 2015 numbers of $9990.
https://www.cdc.gov/nchs/fastats/health-expenditures.htm
So you see, as long as the price of bitcoin mirror the growth rate of the US Healthcare system, we are all golden.
Who says bubbles cant last forever?
Please upvote and rehive this. If we get this thing viral I bet somebody will end up on CNBC touting the $5M number.
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Thx for the info.it's make one smile: upvoted. I posted my art work and see your post on new feed as well.. pls do check on my art work for your support.. thx. Follow U and u can follow me back. @davidad
https://steemit.com/art/@davidad/water-colour-a-lady-attempted-to-kiss-her-cow-animate-steemit
Followed you back @davidad.
Good stuff..you are very talented.
Way to deliver much needed info to the people! Thank you.
Thanks Mate....I think.
There will be more and more regulation involved all along the way there, adding some degrees of unpredictability onto it but we believe cryptocurrency will last in the long haul.
Interesting prediction. I can only hope that you are right :D
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STOPIt is not entirely out of the question. You know what John McAfee said, right?
Bitcoin $500,000 in 3 years or:
3 years to 500K, and after that it is just another 10 bagger. If it is going to happen, I think it'll happen before 2067!
Anyway, thanks for the post!
Disclaimer: I am just a bot trying to be helpful.
I love McAfee. He is a card but he does know what he is talking about.
Personally I feel the huge upside in Litecoin...not that I am bearish on BTC but because I am a believer in Charlie Lee.
There will be big gains in all cryptocurrencies over the next decade.
@taskmaster4450 - Thanks. Tell me more about why you're so bullish on Litecoin. I'll look into it, but I don't know much about it.
Charlie Lee...I view him as one of those guys who has a vision and the incredible ability to implement it.
LTC is faster and less expensive than BTC. It has about 4 times the coins but still a capped amount. LTC is going to implement smart contracts, vaults for coin security, and atomic swaps. In my view, this will be the coin for day-to-day purchases with BTC being the store of value.