In this screencast I make out the argument for Bitcoin getting to $30,000 USD in 2 years. This is not a prediction. My speculative projection is based on geopolitical, macroeconomic issues and market psychology. No fundamentals involved.
Have a listen. If you have alternative ideas do share by commenting or PM. Let's share and learn together.
DISCLAIMER: This educational post is speculative. Opinions expressed here are not intended as 'advice' even if so construed. DYOR! Your decisions in the markets are your own. If you make decisions based on this post and you lose money, you are totally responsible for your losses.
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My middle name is now officially 'CRAZY'! 😂🤣
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BITCOIN HAS GONE ORBITAL!! 15,000 well in sight. My estimate of 30,000 in two years may have been too conservative. Oh well, I don't have a working crystal ball!
Although it might seem a bit high for this 30000 usd forecast, but I agree with that too. I think bitcoin will be the investment of success in the coming years.
Why is. It kind a good investment?? Where is the value of it?? Slow and expensive transaction ??
meszaros
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@maverickbg, Bitcoin is the gold of the young generation. Its value is just as much as they give it. I don't always understand with older heads, often why they give a lot more for something whose inner value is hard to see. But it is clear that in the current war world, it acts as a fledgling currency, just like gold. I don't understand, but I accept it.
Captain_Walker
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@meszaros, Well said. Bitcoin is as immutable as Gold because of its mathematical construction and properties. Unlike Gold there are only a finite number of Bitcoin in all of universe. Most of the Bitcoin have been mined already! Many have also been lost and more will be lost with each passing decade. This means that Bitcoin as a vehicle of transfer of human value, will become rarer than Gold!
There is still much Gold in the earth to be mined and the supply of Gold can be increased in the next 50 years by mining asteroids etc. Mathematically therefore Bitcoin will become rarer as time goes on.
People say Gold is physical and Bitcoin is not. However it is possible today to electronically transfer physical Gold across the globe - by a non-physical electronic process. I wrote about this on Tradingview before. So in terms of transferring or holding value Gold is equal to Bitcoin.
The people have voted for Bitcoin which is now approaching 10 times the value of Gold! Those of a 'dinosaur' era who fail to see the value-holding properties of Bitcoin, will be left behind - as they should.
@maverickbg, Why is Gold a good investment and Bitcoin not? (not that you implied so). Think of anything that people invest in - they expect to buy low and sell higher after a certain time frame. The value of things that appreciate, are subject to market forces. Think of land, diamonds or even livestock.
To give a ridiculous example - 'air' - yes the air you breathe, is perhaps the most valuable thing on earth! But how strange that it attracts no saleable value that can appreciate in our everyday interactions. Why? Cuz if one went around attempting to selling 'air' in say plastic bottles, one would only attract the authorities - who might cart one off to a mental hospital! 😃😁. So the most valuable thing, necessary for all human life has no value that can appreciate. Simply - nobody is interested in doing everyday transactions about it. (I chose my words carefully).
For pedants - I'm aware that water is also very valuable. Now drinkable water in first world countries, is usually very cheap - we get it straight out our taps. But the biggest invention to rip people off, has been bottled water! Ooooh.. there is a tremendous Billion dollar market in bottled water. And hold on - much research has shown that bottled water by and large is a con (I'm not into a debate about it). But that never stopped people here in the UK paying between 50 pence and £7 per litre. So - I find it totally ridiculous that a lot of bottled water is more expensive than a litre of petrol. Well I'm just green 😞 of course, cuz if I had invented bottled water, I wouldn't be hanging out here! I'd be permanently 'living life' lavishly from some 7 Star retreat in an exotic location. 🤑🍷🍷💵💸💲💲
Back to Gold and bitcoin - and see my post below - people are willing to attach increasing value to these. You could spend years trying to understand all this, by which point the value of the two might have increased several fold. One's gain in understanding is at the price of being left behind.
People often restrict themselves by this need to understand something fundamental about things before they move. That's fine - cuz it's a free country - so people can do as they please. Whether one understands or not - the universe moves on - and the world around us evolves.