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RE: Why Bitcoin won't reach $1 million (but is still a good investment).
My belief, based on nothing at all, is that Bitcoin will plateau around $100k. There are simply too many other superior technologies being brought to market (Bitshares and Steem to name two). But it will take a decade or two for the masses to figure this out. Bitcoin will become a lot like gold, a premium store of value.
Bitcoin could reach $100.000 but it will either take a long time or a very big bubble.
I think this fall we are going to see Bitcoin absorb an enormous amount of fiat wealth and perhaps a bubble to $50k or higher. There is momentum grown and new markets in Asia are starting to get into crypto in a big way. In the fiat world there is nothing left for wealth preservation - gold/silver are horribly manipulated, equities are so risky as to be stupid, debt (bonds, etc.) costs money to hold and because the gov is printing money like it going out of style holding cash just erodes your wealth. There are trillions of dollars of fiat wealth looking for a secure growth vehicle. Bitcoin has that in spades.
Indeed that is where I see the most value for Bitcoin, as a store of value protected from inflation. That is why I considered the market cap of gold as very significant because it fulfills the same role in the physical world. I expect it will take a very long time for Bitcoin to catch up if it ever does though.
it depends on the demand of it goes main stream currently it is just a niche product bit coin only 11 million whorld population 7 billion
check out my thoughts what about bit club? is it agent ponzi
check out my thoughts https://steemit.com/cryptocurrency/@newmarket65/is-cryptocurrency-your-get-rich-quick-scheme
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