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
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