WHAT are the chances that Bitcoin will hit $100,000 by end of December?
- Thread starter Iwilldoit
- Start date
https://www.blockchaincenter.net/bitcoin-rainbow-chart/
If you look at this chart. If bitcoin reaches $180k by 2021 it will be bubble territory. So far, it has reached twice in the chart. And because of the recent upward motion and the previous prolonged bear market I am expecting it to move up to complete the move. But if you look at the curve it should be more downward sloping for it to make sense as the first bubble it exceeded abit but the second one it didn't touch the furthest line. So, I am expecting slightly more than 100k in 2021 to be a bubble, therefore a pretty high chance to reach.
Low probability event, we'll likely need a significant short term demand spike to get there.
Why? Current average production cost is at $35K~
Even though price has touched the higher end of the range in the past, which IS currently above $100K, it doesn't happen often.
Where is fair value likely to be in the coming quarter? About $49K, estimated with historical average profit margin for producers/miners.
WHAT...are the chances you will not get a coherent answer before this question is asked of us again on December 31st? It's the Swallow problem.
China just made crypto basically illegal: https://www.foxbusiness.com/markets...y-tied-deals-illegal-bitcoin-drops-4-5-report
If US and Europe hits in that direction and Tethers are removed, BTC will be sub 10K.
It is a pure gamble at this stage. Anyone making any predictions might as well toss the coin.
If US and Europe hits in that direction and Tethers are removed, BTC will be sub 10K.
It is a pure gamble at this stage. Anyone making any predictions might as well toss the coin.
I tend to agree with this assessment as well.
What I don't like is that as each piece of good news is posted to the BTC price thread, it hasn't been enough to help BTC make new highs. Also, the fact that the price can be pushed down so severely when there is supposedly so much interest in only 21 million coins, with many not even available for circulation, makes me scratch my head.
Some in the crypto world do call for another crypto winter, and if it hits, then maybe that is a good time to load up, simply for a pure lottery ticket. But even at 5k lets say for a coin, that is an expensive ticket.
I've said it before and I will say it again, for BTC to reach some figure like 500k or greater, we will have major issues in the world and I just don't see western governments standing by and letting BTC holders run the world. In order to save a country, you will need to save the currency, and if crypto ends up being a formidable threat, you will need to kill it off. If crypto wins, then the government and country falls, and then help us all.
correct. The moment governments will feel threat, they will put an end to it rather quickly. What many true believers need to realize that cryptos require servers, take them out and it becomes small underground niche. Not sain it will happen of course, but possible.
as far 500k, it is all possible with tether ponzi. They were able to push it to 60k from nothing after all
You do not have to purchase a whole bitcoin. I think $5K/btc is a very good price, but $1K or lower would be a great time to load up