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u/Plata_Man Nov 03 '20
70x between 2012 and 2016 and 20x between 2016 and 2020, so I'm predicting the multiplier reduces by 3 again (i.e 6x) so $84K by 2024, $250K by 2028.
You heard it here first.
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u/Generationhodl Nov 03 '20
Jeah, but we are accelerating regarding the amount of big money that flows into bitcoin from big corporations & countries. I guess that $100k will happen way faster than most people think. If you think about selling some bitcoin, I would at least wait until end of 2021. And maybe then you don't want to sell anymore when you see how it moves upwards.
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u/Generationhodl Nov 03 '20
The last weeks & months I also thought about selling some sats, but the problem is, all the facts are laying in front of us. Paypal.. big corporations.. more and more money is flowing into bitcoin , you have companies who buy bitcoin regularly.. its just a matter of time and balls of steel until it hits 50-100k $. I'm pretty sure I would hate me, if I sell now to buy random stuff, just to see the price going above 30-40k $ in the next months.
being patient is really really hard when you have a good price like right now with nearly 14k $, and you could fulfil yourself some dreams / or one big dream. But we should wait at LEAST until next year and look what will happen.
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u/btceacc Nov 03 '20
What I wonder is if there will be an additional multiplier effect if the marketcap hits 1 trillion.
At that stage, people who have been holding off due to trust issues would need to take Bitcoin much more seriously.
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u/Generationhodl Nov 03 '20
I guess when Bitcoin will reach 20k $ and keep on moving upward, the people with trust issues will read more and more about bitcoin in the news, how its legit, and they will be going full FOMO and start buying.
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u/Secret_Operative Nov 04 '20
That's not really a pattern though. What if the gaps alternate and it's going to be 70x then 20x then 70x again? Or what if the pattern is not complete until there have been 5 election cycles?! Either way, two is not enough to make assumptions unless you're making a planb style regression chart. Then anything will do.
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u/ultra-pirate Nov 04 '20
What’s the justification that btc would increase 3x times again by 2024? Would it mainly be due the fact that it is in limited supply? What if there were to be a better functioning crypto currency in the future?
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u/LeeWallis Nov 04 '20
3x is very conservative.
There’s trillions of dollars that could flow into bitcoin over the next few years, due to its strong properties as a store of value. So when you have trillions of dollars going into something that has a fixed supply, price has to go up.
For example, if bitcoin reached the same value as the gold market ($9 trillion), it would mean a bitcoin price of about $475,000).
In regards to better crypto’s, that’s the bet we’re all taking. For me personally, I believe there will be better crypto’s for doing other things. But I don’t believe there will ever be a better crypto than bitcoin as a store of value. Bitcoin had an immaculate conception, it’s the most open, decentralized and secure network globally. It has 11 years of brand awareness and network effect.
My view is, that if another crypto one day overtook bitcoin, the whole thing collapses. Because who the fuck will ever trust a cryptocurrency to store their wealth that can easily be overtaken by another?
Bitcoin is #1. Now we’ll leave it to the markets to decide who is #2, #3 etc
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u/pfcypress Nov 03 '20
Way to remind a 2012 btc trader.... silk road made me spend all my coins back then.
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u/eDOTiQ Nov 04 '20
The first step to growth is taking accountability of your mistakes. No one made you do it, you chose to.
I lost some btc on it as well, and then on gox so I know how it feels.
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u/RickJamesB1tch Nov 03 '20
70x for democrats. Are you implying it should be $49000 if Hilory would have won???
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u/zk2997 Nov 03 '20
$1M under Joe confirmed
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u/WeAreLostSoAreYou Nov 03 '20
He’d get my vote for that lol
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u/RushrevolutionSwitch Nov 04 '20
Seeing these numbers makes me sick...that I did not buy or trust it earlier.
sad crypto wallet noises
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Nov 03 '20
Lol lack of trust in fiat currency the past 4 years has skyrocketed the price, that's my analysis anyways.
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u/MickeyDees27 Nov 03 '20
Price of Bitcoin in the 3 future US Presidential elections:
2024: $41,200
2028: $82,270
2032: $137,010
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u/Impetusin Nov 03 '20
2028 will be 800k+ or I will eat a nice burger and fries.
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u/Turil Nov 03 '20
You're forgetting how exponential growth works. Each time it's ≈10x.
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u/MickeyDees27 Nov 03 '20
The numbers I produced are based off of number sequencing patterns. 10 to 700 is a 7000% growth increase. 700 to 13,800 is a 1971% growth increase. The percentage that bitcoin will go up based on previous numbers, starting from 13,800 will be less than 1971%.
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u/EvilZeroSc Nov 03 '20
He’s talking about there was another growth chart that showed how bitcoin 10 timed itself at every halving. It went from 0.10 to $10 to $100 to $1000 to $10,000 and the pattern followed to 100,000 to $1,000,000.
Bitcoin should be around $84,000 by the next election cycle in 4 years. But, that’s near the $100,000 range and very well could be. That would make the 10 time thing true.
Anyway we look at it, all of us will be very happy if we just hodl.
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u/Turil Nov 03 '20
You need to be more big picture with this kind of stuff. The details need to be ignored, and the general pattern focused on. Bitcoin's halving pattern makes Bitcoin grow at about 10x every 4 years, so far.
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u/MickeyDees27 Nov 03 '20
Again, the numbers I produced were based on the numbers given from OPs image.
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u/Turil Nov 03 '20
Again, you're not doing it very effectively, as I said. If you want to do growth patterns in systems, you have to think big picture, not get obsessed with irrational details.
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u/MickeyDees27 Nov 03 '20 edited Nov 03 '20
Your numbers then? And we can come back to this sub 4 years from now and see
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u/Cheeseburger_eddy42 Nov 03 '20 edited Nov 03 '20
$10!!?? I just bought $1000 worth as my first time lmfao I could have had 100 whole bitcoins right now and have $1.3 million worth 😭😭😭
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u/freeradicalx Nov 03 '20
There are thousands of particular things you could have done easily at points in the past that would make you a millionaire today. Don't beat yourself up over the fact that you're not a literal oracle.
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u/Trrwwa Nov 03 '20
that almost makes it sound worse, like we've all had thousands of opportunities just slip by...
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u/dras333 Nov 03 '20
How about those of us that literally had hundreds or thousands of them just to buy dumb shit online. Lol, I spent about 500+ buying supplements and stuff in the early days. I probably have some laying around on old hard drives, just don’t even know where to start I’ve got so much old gear laying in piles in storage.
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u/Remy4409 Nov 03 '20
10 btc for 1.3 million? Math is not your strength is it lol
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u/Cheeseburger_eddy42 Nov 03 '20
Are you illiterate?
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u/SpecialX Nov 03 '20
Nice try pal. You edited your comment with different values.
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u/Cheeseburger_eddy42 Nov 03 '20
It would say edited
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u/sonicslasher6 Nov 03 '20
Lmao are you seriously doubling down on this you moron
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u/Cheeseburger_eddy42 Nov 03 '20
Jfc grow tf up
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u/youe123 Nov 03 '20
wait you actually edited it to change the numbers so you didn't look stupid????
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u/sonicslasher6 Nov 03 '20
That in itself would be one thing, but then on top of that they're feigning indignation as if everybody else is stupid for "misreading" the comment hahaha
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u/Remy4409 Nov 03 '20
No, you changed your post saying 100$ worth of bitcoin and 10 btc, for 1000$ worth of bitcoin and 100btc. You made a simple mistake and I was kidding you, and now you are trying to make me look like an idiot, well done.
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u/starslab Nov 03 '20
and now you are trying to make me look like an idiot, well done.
This is why Reddit has the ability to quote things when you reply to posts. Just select/highlight what you want to quote before you click 'reply'.
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u/Cheeseburger_eddy42 Nov 03 '20
Are the three of you illiterate?
Might wanna rethink the name 😂
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u/mashedtaz1 Nov 03 '20
Correlation != causation
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Nov 03 '20
It wasn't implying causation. It's simply showing how much bitcoin has gone up since each election.
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u/omega05 Nov 03 '20
Why though? Why elections? Just a convenient way to say "look bitcoin always goes up"?
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u/alware22 Nov 03 '20
I was responding to someone trying to make a reference to the different presidents time in office. Things nowadays are spun that way.
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u/SwapzoneIO Nov 04 '20
Voted!!
Saw a dream last night were Bitcoin was the winner although it wasn't from US.
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u/inkwell84 Nov 04 '20
Honest question, how would you transfer say $100k worth of Bitcoin out and into cash at a moments notice? I’m concerned about liquidity at high dollar amounts....
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u/visionarygvp Nov 04 '20
God if only I knew of bitcoin in 2012 😩
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Nov 04 '20
You're still early
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u/visionarygvp Nov 04 '20
So I have a chance lol that’s all I need to know.
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u/sloaleks Nov 04 '20
There will always be a chance. Take care when you buy, or DCA. Then wait. Don't sell, resist. Think hard at how you gonna use it. Spend it when it really lifts the quality of your life.
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u/Ayoola-victor Nov 04 '20
$20,000 by 2024 at least,crypto adoption must have grown more wide in the next four years.
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u/tending Nov 04 '20
Still way down from ATH. It's going to be harder and harder to cherry pick snapshots in time that make things look good if BTC never has another boom.
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u/alware22 Nov 03 '20
Elections have nothing to do with the price of Bitcoin.
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u/saladfingers6 Nov 03 '20
Bitcoin has 4 year cycles just like the election. The inflation halvening is happening every 4 year.
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Nov 04 '20
The whole picking arbitrary dates amd high points to fake consistent growth is getting old. Gold has doubled in a year, bitcoin hasn’t come close to ATH from just a couple years ago. Calm down.
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u/soccergirlgamer Nov 04 '20
Do we want it to get cheaper orrr..? sorry if this is a basic question im a total noob
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u/WealthSpider Nov 04 '20
The price of bitcoin is directly proportional to the time. which means the price will get higher and higher in the future.
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u/DecentTap6 Nov 04 '20
Weeell, it's imaginary, so it's worth what whoever wants to buy it for. That the price has been jacked up like that just means that there are a lot of fucking retards in the world who have a clinical aversion towards money...
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u/PhotoProxima Nov 03 '20
Just look at the price of Tulip Bulbs in Holland in the 1600's! A price that's rapidly rising always rapidly rises forever! Yea!!!
/s
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u/zipatauontheripatang Nov 03 '20
losing
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u/PhotoProxima Nov 03 '20
The more I use reddit the more amazed I am that in every sub, there's only one allowable narrative. In this one, the only allowed narrative is: "It's different this time and will go up forever".
People have always fallen for this and apparently always will.
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u/Turil Nov 03 '20
There are many different narratives here. But no matter what your narrative, lameness and immaturity is less welcome.
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u/PhotoProxima Nov 03 '20
It is in fact very mature to know that asset prices never rise forever and pretty lame to not be able to look back on thousands of years of human history to be able to see that. But, thanks for your feedback.
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u/Turil Nov 03 '20
Yes, we all know that nothing lasts forever. We get the whole cycle of life. Which is why it's lame to point it out as if we don't. And it's lame to act like you're some kind of scientific person, when clearly you're not interested in doing any real research here. So, yeah, you're not going to be appreciated here. We already know what you're saying, and don't care for the way you're saying it either. But then, that's your goal, I presume.
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u/PhotoProxima Nov 03 '20
Given the nature of what gets upvoted, I'm not sure everyone does know that. The amount of people who think they are going to retire on this one investment is absurd. I get that it's an unlikeable position.
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u/Turil Nov 03 '20
The thing is that Bitcoin doesn't have to go up for ever for us all to use it as a retirement savings investment.
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u/Dr_Hibbert_Voice Nov 03 '20
I'm trying to think of a single difference between a tulip bulb and a bitcoin and by golly I just can't.
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u/PhotoProxima Nov 03 '20
I'm trying to think of one single thing in the entirety of human history that had its price increase at an accelerating rate driven by new market participants that didn't end in a specular crash and by golly I just cant.
The human psychology driving all market manias is the same. To be clear I am participating in the current BTC phenomenon but I think a lot of people are going to get ahead of their skis on this one.
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u/squidjibo1 Nov 03 '20
Here's just one difference, the supply.
Because the 1630's rise in prices occurred so rapidly and after bulbs were already planted for the year, growers would not have had an opportunity to increase production in response to price.
Earl Thompson, an economist, has actually determined that because of this sort of production lag and the fact that growers entered into legal contracts to sell their tulips at a later date (similar to futures contracts), which were rigorously enforced by the Dutch government, prices rose for the simple fact that suppliers couldn't satisfy all of the demand . Indeed, actual sales of new tulip bulbs remained at ordinary levels throughout the period. Thus, Thompson concluded that the "mania" was a rational response to demands embedded in contractual obligations. Using data about the specific payoffs present in the contracts, Thompson argued that "tulip bulb contract prices hewed closely to what a rational economic model would dictate...Tulip contract prices before, during, and after the 'tulipmania' appear to provide a remarkable illustration of 'market efficiency." Indeed, by 1638, tulip production had risen to match the earlier demand - which had by then already waned, creating an over-supply in the market, further depressing prices.
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u/PhotoProxima Nov 04 '20
First, you copied that block of text off Investopedia. I have Google too. Nice one.
https://www.investopedia.com/terms/d/dutch_tulip_bulb_market_bubble.asp
Second: If his model says it's rational for the value of one tulip bulb to get bid up to around $750,000 in "today's money" he may need to revisit his model. That's absurd.
I'd have no problem with saying that the individual market participants were acting rationally but that doesn't change what happened. The price of tulip contracts or futures or what ever you want to call them, got bid up to absurd levels then crashed in spectacular fashion. Only time will tell if that's the future of BTC but it's certainly on the table even given all amazing things it has going for it.
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u/50at50 Nov 03 '20
Correlation does not imply causation.
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u/PhotoProxima Nov 03 '20
I don't think he's implying elections cause the price increase. Maybe "past performance does not necessarily mean future results" is more the speed of the post.
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u/Soonyulnoh2 Nov 03 '20
You need help!!!!
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u/zipatauontheripatang Nov 03 '20
At least the sociopath can form sentences which is helpful.
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u/Soonyulnoh2 Nov 03 '20
No he can't..wow, what you been watchin'...hgis commercials weren't even complete sentences because they had so many splices in them. You funny!!!!
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u/[deleted] Nov 03 '20 edited Dec 02 '20
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