Bitcoin at $100k More Likely Than Ever, Analysts Make Case for Huge Gains

Bitcoin at $100k More Likely Than Ever, Analysts Make Case for Huge Gains
фото показано с : beincrypto.com

2020-1-14 09:30

\n

Bitcoin’s rise from fractions of a cent to more than $8,000 today came as a surprise to most. The price of the leading cryptocurrency has long since surpassed many of the outrageous price predictions of yesterday. Many believe that it will continue doing so going forward too.

For one of the earliest contributors to the Bitcoin project, the late Hal Finney, Bitcoin is striving to become the “dominant payment system in use throughout the world.” The computer scientist reasoned to Satoshi Nakamoto in 2009 that if Bitcoin is successful in this regard, the network will absorb between $100 trillion and $300 trillion – a rough estimate of the total global wealth. This will result in a Bitcoin price of $10 million. Finney added that the few cents it would cost to mine some Bitcoin today might make it a phenomenally good bet.

More recently, cryptocurrency market analysts have revisited Finney’s early speculations. In response to a post referencing the $10 million Bitcoin on the anniversary of Finny declaring that he was first “running Bitcoin,” Blockstream founder Adam Back (@adam3us) reasons that inflationary pressure in fiat currencies make the sky-high figure much less ridiculous than it first sounds. Back states that if USD inflation continues to rise, it’s feasible that the dollar loses all but 1/10th of its purchasing power over the next decade. Such a devaluation makes a $10 million Bitcoin much more attainable in real terms.

And $100k Bitcoin doesn't seem so far given we already crossed $10k threshold a few times when few expected even $1k some years back and $10k seemed crazy.

— Adam Back (@adam3us) January 11, 2020

Back adds that a $100,000 Bitcoin now seems closer than ever, particularly given that the asset has bounced around either side of $10,000 for so long. The Blockstream CEO reasons that few expected a $1,000 Bitcoin or even a $10,000 one was frankly insane during the first few years of its rise. Today, BTC at $100,000 feels like $1,000 and a $1 million one is the stuff of fantasy.

Analyst Plan B (@100trillionUSD) and Twitter user Steven Smith (@stalcottsmith) agree with Back’s reasoning. The former’s faith in Bitcoin’s future is based on two decades worth of investment experience and seeing the impact of quantitative easing first hand. Plan B states that continuing inflation will not only encourage people to buy Bitcoin but will also make these seemingly massive prices much more reachable thanks to the dollar’s limited purchasing power. Meanwhile, Smith states that the move from $20,000 to $100,000 “will blow people’s minds.”

Totally agree. Must admit that I probably would not have this level of confidence (and interest) in bitcoin, if I would not have had 20+ years experience investing $100B AUM and personally seeing the unintended consequences of quantitative easing (QE) and negative interest rates.

— PlanB (@100trillionUSD) January 11, 2020

The post Bitcoin at $100k More Likely Than Ever, Analysts Make Case for Huge Gains appeared first on BeInCrypto.

origin »

Bitcoin (BTC) на Currencies.ru

$ 96376.96 (+0.17%)
Объем 24H $36.785b
Изменеия 24h: -0.13 %, 7d: 1.73 %
Cегодня L: $94117.42 - H: $96423.01
Капитализация $1910.812b Rank 1
Цена в час новости $ 8510.44 (1032.46%)

price bitcoin surprise leading outrageous predictions yesterday

price bitcoin → Результатов: 126


Bitcoin Price Holds Above $96,000 — Analyst Explains This Level’s Significance

The Bitcoin price appears to have settled within the $92,000 – $102,000 consolidation range, sparking discussions about the coin’s future trajectory. While it remains unclear whether the premier cryptocurrency has enough momentum to forge new all-time highs soon, it would take significant bearish pressure to pull down the BTC price.

2025-2-9 16:00


Bitcoin Price Struggles With Liquidity Blocks From $86,000 To $104,000, Analyst Reveals The Logical Thing To Do

The Bitcoin price has spent the majority of the past seven days consolidating around the $94,000 mark with signs of a break to either side. According to a crypto analyst, Bitcoin’s recent price movements have led to the creation of liquidity blocks observed between the $86,000 to $104,000 range, which raises an equal likelihood of a bounce towards $104,000 or a downside break to $86,000 from the current price.

2025-1-13 14:00


Bitcoin price analysis: economic headwinds push price lower

Bitcoin tested the $92,000 level yesterday after falling from a weekly high of $102,000 as sell pressures mounted Macroeconomic factors cause doubts about the market strength as sticky inflation becomes a concern Spot crypto ETFs logged large outflows on Wednesday following the release of the Fed meeting notes Bitcoin’s price has fallen from a high […] The post Bitcoin price analysis: economic headwinds push price lower appeared first on CoinJournal.

2025-1-11 17:48