6-Digits 'Inevitable,' According To Bitcoin's Big Believers: And Here BTC Has A Better Chance Of Going To $100K Than Zero
The latest news on bitcoin is all about the crypto hitting $100k. What do experts view about this phenomenon? This report lists the reactions of people world over on the estimate.
Where Is Bitcoin Valued?
Bitcoiners have predicted that the price of bitcoin will surpass its all-time high from 2017 and many believe it will rise to the $100k or six-digit price range for a number of years now. Discussing the possibility of the crypto asset reaching $100k at great length is the bitcoin enthusiasts this week.
The price of bitcoin touched an all-time high of $19,600 per coin in mid-December 2017. A number of bitcoiners believe that the crypto asset will surpass that price range as today BTC is 45.81% lower than the 2017 ATH. The well-known venture capitalist Tim Draper said he believes the price of BTC will touch $250k by 2020 or early 2023, for instance at the 2020 Virtual Blockchain Week event.
Thinking BTC will reach $100k is mark Yusko, the CEO of Morgan Creek. Including Blockfyre’s Simon Dedic, Cardano’s Charles Hoskinson, and Morgan Creek’s Anthony (Pomp) Pompliano are other influencers who believe $100k per BTC is attainable.
Discussing the possibility of BTC reaching $100k this week are a great number of average folks leveraging the Reddit forum. It was a topical discussion on Sunday and hundreds of people commented when it was asked in the Reddit post called how many of the people here think that 100k is happening at any point?
Showing that a great majority of bitcoiners think that $100k is destined to happen is a deep scan into the thread. There were although a fraction of those individuals who never thought BTC could reach the six-digit zone.
What Is The Discussion On Reddit?
The top comment on Sunday’s post explained that it is inevitable at some point. Responding to the top comment an individual said, it is definitely inevitable as it comes to be just the question of how much time it will take. BTC has a better chance of touching six-digits than going zero as one person remarked.
The Redditor wrote that it’s not inevitable whereas he does think it will happen. Further one it will be near worthless within 5-10 years and that means something else did finally takeover if he thinks it doesn’t go to $100k. He always factors in the chance as IMHO it has a better chance of going to $100k than worthless.
Giving reasons to why they think that the crypto-asset could reach this psychological price range are a number of other individuals. Saying that the crypto asset will mimic the precious metal’s store of value benefits as a few people compared BTC to the likes of gold.
Here the individual stressed that the market cap for gold in the trillion, around $9 trillion looking to. It would mean about $485k per currently circulating bitcoin if BTC hit the same market cap. Not counting for lost BTC, that’s just using this years’ numbers.
Where individuals are discussing BTC hitting the six-digit range is the subreddit r/bitcoin which is not the only place on the web. Also, very prominent on Twitter is the $100k per BTC conversation.
Holding a poll about the six-digit price range which received over 24,000 votes on September 25 is the creator of the stock-to-flow bitcoin model Plan b. Over 26% said the crypto-asset would be $100k and 19.5% voted for $288k per coin while 34% said BTC will stay below $55k.
Explaining that she will be dancing when BTC reaches the $100k region the same day is the Twitter user Anastasia. She tweeted that as bitcoin hits $100k, saying “suckers, suckers, suckers”, she is gonna dance around everyone who said that putting $$$ into bitcoin was a bad idea.
On Sunday telling his 40,000 followers, the Bitcoin influencer Michael Goldstein said jokingly that $100k bitcoins is coming to be more useful than $10k bitcoins.
Finally, What Is Better Than Bitcoin Hitting $100k?
Telling his 19,000 Twitter followers that $100k will happen but the crypto-asset would probably slide back down to $30k, on Friday was Crypto Capital Venture. He further tweeted that Bitcoin to $100k isn’t a final destination as it’s a pit stop. As a service area where the rest of the world will thereby finally have a chance to say that let’s get on board please and then it will retrace to $30k.
The belief that bitcoin will reach six-digits is strong among bitcoin proponents between a number of Reddit forum posts and Twitter conversations. Macroeconomics and the central banks’ fiat creation is the most dominant reasoning behind most individual’s beliefs as to why the crypto asset, bitcoin will jump that high. It's just a matter of when to most people discussing the subject as supporters wholeheartedly believe that the price range will happen.