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Bitcoin $6000

bloomberg.com

7 points by _hv99 8 years ago · 2 comments

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champagnepapi 8 years ago

Predictions on how high it will go and why?

  • grover_hartmann 8 years ago

    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

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