RE: [dtube] 2030 BTC Price Prediction, Joe Rogan & Brexit | Q&A #17
Amazing to see everyone wants to know what will be the price in the coming years, but i would love to see people use this currency and technology more as a revolution in the new age fintech world where one does not require the permission of a third party to transfer the payment to any other party.
In my opinion i see price of bitcoin at around 100,000$ by dec 2020. Now there are people who argue why and how will this happen.
Its a very simple mathematical calculation, the number of users right now using bitcoins are approx. 50 million as per the sources and data collected till jan 2018. This number is expected to reach around 250 million by 2020.
Also the market cap of bitcoin to reach the price of 100,000$ needs to be around 1.9 trillion dollars if we expect the supply to be around 19 million coins which is near 17 million right now.
Now coming on to the most important thing of mining cost and the difficulty rate of the network then according to my calculations the difficulty rate of mining after the next halving in may 2020 will be approx 2.5–3 trillion gh/s which is a rough estimate depending upon the current hash rate which is around 25 billion gh/s.
People are underestimating the exponential growth of cryptocurrencies and in so doing are not able correlate, or understand, that rise in popularity to the . they don't want to accept, or they refuse, to believe that this is anything more than a passing fad. they don't realize most major banks are trying to figure out how to adapt block chain technology into their electronic ledger systems. its simply a matter of time until the the bobbly heads on wall street tell the average person that cryptocurrencies are safe. mostly people don't get involved cause they don't understand the stock market and they think that's all it is. because most of us just talk about trading the stuff. they don't see the "real world" applications. cause you cant buy mcdonalds with it yet. like my girlfriends dad is not gunna get involved unless his brokerage tells him its safe to do so or until they do it for him and let him see profits.im sure a lot of people feel this way right now. its scary. hackers and stuff. but I too think its completely acceptable to believe that with the growing familiarity, and numerous benefits of using electronic currency over paper, that bit coin will be reaching unprecedented hieghts in the next 5 years. even as earl as 2020 the 19k high of last year will be the new low point people are gunna wish they had bought in at. and even the people like me who jumped in around 8k will still be feeling great about that initial investment. mine was 420. but I believe in cycles. and your 2020 date fits in with me believing this is the revival of the roaring twenties. I just want to be ready for the next great depression.
end ramble.