During an interview I conducted with blockchain expert @StephenKendal, Stephen broke down his firm belief that Bitcoin will hit 1 million dollars and onwards based on both the mathematical fundamentals as well as the mass adoption we are currently seeing.
Bitcoin's value is based around the same framework as gold's value is based. Scarcity, demand, application. There is not a lot of gold or silver on this planet, so it's scarce, but it's also in demand and sees a lot of use. Bitcoin will only have 21 million coins ever, ending in the year 2140.
At the 7 year daily average rate of growth, Bitcoin should hit $250,000 USD by the year 2020 easily. So considering the vast climb over the past year alone, the notion of it hitting a million is incredibly simple.
Stephen Kendal breaks down what he attributes to the recent rally of Bitcoin, the mass adoption phase we're seeing, the misunderstanding of many pundits applying the fundamentals of the derivatives market incorrectly to Bitcoin and of course the phenomenon that is Bitcoin Cash.
See the FULL clip here:
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Could go to 1 million or back into the hundreds, do not invest more than you are willing to lose!
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Am with you on this one. Anything is possible. Change
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Interesting. John McAfee told me in a recent interview same thing. He predicted $1 million by 2020. I would love to have you read that article and /listen to that recorded phone conversation. Just keep in mind McAfee was my first ever voice interview and I usually stay in my writing corner where I am more able to eloquent deliver my thoughts. **So he ran me over pretty badly but, hey, big fish on my first landing. He let me interview him 2 times actually. Both times resulted in awesome stories but the audio is ... sorta crazy .🎉. I will follow you and keep my eyes open for your posts.
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Wow that cool any way since you've done the meeting and come out with something good ,you can also upvote and follow and comment on my post also @horlly
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Right now that number seems a bit crazy to me...but after this year's exponential growth, who knows. That would be wild though...
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If it increases by the same multiple next year it will hit one million.
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Yes please, it is possible but just about every bit of money would have to be invested into bitcoin and in that case there would be no more comparison to USD etc
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Hi ,
Thanks for sharing
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Personally I think cryptos are the future, but not Bitcoin, which I expect to get replaced by other cryptos... (yes, including Steem)
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Man, I couldn´t agree with you more.
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As I noticed the behavior of Bitcoin, It has 40% chances to go to 1 million and have 60% chances to go back into the hundreds, I suggest not to invest more than you are willing to lose...!! Because It has better chances to go back to hundreds. :) That's my point
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What I have learned from the short time I have been into cryptocurrency is that nobody can predict it's future.
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I think hitting $1M is a bit of wishful thinking. Yes, its new. Yes, there is institutional money coming in by the river full. Yes we are only at the beginning of possibilities for the underlying blockchain. But, Bitcoin needs solutions for scaling and they need to get their fees under control. Bitcoin Jesus had an interview on Yahoo where he said he sold his $340M in Bitcoins and moved them all to Bitcoin Cash. Why? Because you can scale and you also only pay $0.01 to transact it. He thinks BTC will continue to rise at least through 2018 as the big money enters, but the limitations and costs of using it will lead to an alternative and eventually people will opt for something that is low cost and works. My opinion is we should have equal parts BTC, BCH and ETH. Why Etherium? Because it's the blockchain that regular businesses are working on applications for since it scales. Let's see, but $1M I think is from people trying to get a headline for attention. Aim lower, $50,000-$100,000 and you will be delighted if it goes higher.
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There are, at least, three big reasons for bitcoin to hit $1,000,000 by 2020, any of which will get it there, and the reason for it not to happens means all three failed, along with some other world changing events.
In order for bitcoin to fail, all the govern-cements of the world would have to say cryptos are bad (meaning they scrap their plans for digital too) and start killing anyone caught using it. Along with big guarantees that are actually meaningful for keeping money in the bank. And probably some earth shattering event. (blamed on cryptos)
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Bitcoin going to one million and litecoin reaching one hundred thousand happen my dreams.
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Çok kısa zamanda 10 milyon dolar olabilir.
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Yea yea there is every possibility with the way it's been going recently. Personally I regret not diving in way back when I got the chance to, instead I lost a lot of money to some funny programs, dumb right? But here's another chance to start over with the little I can afford. The growth is tremendous and encouraging .nice post. I ve to follow you
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I'm not surprised to hear this news because I believe Bitcoin will hit 1 million dollars.
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Anything is possible, although it seems highly unlikely!
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Interesting, I'm still kinda new to cryptocurrency. But I think as long as the demand keeps increasing the price will too. If no one wants bitcoin and everyone starts selling it will be worth nothing. Hopefully, the recent social media exposure and the bitcoin futures will increase the demand and price of bitcoin.
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Yes I think two million next year.
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I still question bitcoin at a milllion dollars. Maybe.
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