Finance Data Listing and Disclaimers
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According to a Fox News Business Alert, which aired on June 30th, a prediction of Bitcoin being valued at 1 million dollars was brought up during a segment "Making Money" hosted by actor I mean anchor Charles Payne.
Admitting to their previous oversight of the new technology as a "beenie baby" fad, they went on to predict a 1 million dollar per coin price for the 5 year old cryptocurrency. Guest Naomi Brockwell, former policy director at the New York Bitcoin Center stated "It's going to the moon" after a very honest and logical testimony that Bitcoin's value is based upon its decentralized properties.
Is Bitcoin going to reach 1 million, or even 1 billion dollars? I find that it is likely if a few scenarios play out. I think the 4 items you pointed out are very probable. Evil said, "Not one billion dollars ut I hope for the best for Bitcoin and gay frogs too. I think that prediction is insane. Bitcoin will reach whatever goverment allows it to reach. It is volatile in a sense where if exhanges become illegal and there is no link to fiat nobody would feel safe having these tokens.
Watch the price plumett. I guess it all depends on how far people can be pushed against by oppressive law makers until the "oh shit" moment arrives, this point being when a sizeable chunk of the population realizes the law does not serve them. I do not think the public can oppose that unfortunately. My dream is to actually fuck the elite up and be independent as society but it is just laughable to think crypto is the way when the elite could shut it down in like 1 day. Although it seems in that scenario the right question is what will 1 USD be worth?
I think the btc price is going to rise consistently as it has been in the past and drop consistently too following its pattern and 1 million dollar predictions are irrelevant and made by attention seekers. I think segwit will make a large difference to its overall accessibility as it will make things cheaper and faster, and think it's only a question of when crypto currencies will be adopted just look at the overall currencies that are left for most of our countries, they are pretty much all facing down bearish markets.
Also I think cryptos currently at the moment are more like commodities like gold so when currencies are weak people invest in these things. I'd like to see a Gajillion dollar price tag, but agree with your analysis on the 1 mil to 1 Bil price tag. But Bitcoin has got to successfully work through it's scaling issues before we see this all happening. In either case I'm holding onto my Bitcoin! The price of a coin should depend on the quality of the product, the team behind it, if proffesional investors believe in it, and a lot more facets.
Do you know this interesting site? I don't know any other sites with so much indepth analysis. Bitcoin To Be Worth 1 Million or 1 billion a coin??? Bitcoin would have to become more secure and user friendly, with support companies making it as easy to buy and sell as any other currency onto a credit card. Examples of BitPay and the Shift Card, where crypto and Visa work together to make bitcoin spending anywhere more feasible is an example of how this is already in the works.
A loss in confidence in the US Dollar and other currencies abroad. With Russia and China already trading oil outside of the petrodollar, the trend with the looming derivatives bubble is making this more and more of a possibility every day. With all currencies so closely tied together on a global scale, one domino falling could lead to the whole house of cards collapsing. Following a loss of confidence and an exodus of fiat currency, nations will adapt. With Japan already recognizing cryptocurrency as legal money as of 2 months ago and Russia, India and Australia on its way, Western nations will feel the pressure and fall behind as they are late to adapt.
However, early adopters individually will be able to prosper during these times. A significant loss in purchasing power within the sphere of the fiat currency market. As a safety net, people will flood to hard assets such as gold, silver, property and cryptocurrency. The lack of transferability of gold and silver globally will increase the recognition of the cryptosphere's value and cause a massive injection of new capital. Unlike a pump and dump in financial markets, the actual use of this currency will cause sustainable growth as the fiat buying power continues to become crippled.
What are your thoughts? Authors get paid when people like you upvote their post. Hopefully the predictions are correct. Congratulations on the article: Then why haven't they yet?