Quote from: Denker on December 05, 2015, 02:03:48 PM

Quote from: tom555 on December 05, 2015, 01:43:23 PM

this!

Bitcoin price projections for 2016

The projections for this year have been somewhat realistic following the previous years price fluctuations. At the time, the possibility of one Bitcoin being worth $1 million was not considered impossible, but now more than 60 percent of the community believe this is unrealistic.
WedbushAmerican securities firm Wedbush recently released a report speculating about the Bitcoin price in 2016. The report claimed that due to cryptocurrencys potential to cut costs, its demand and use is increasing in the e-commerce, remittance and micropayments industries.
The report predicts that, in future years, Bitcoin will be able to cut down online payment fees from three to eight percent to less than 0.5 percent, while also reducing the cost of remittances from five to 10 percent to less than one percent.
Wedbush estimates that the Bitcoin price will hover around 400 dollars in 2016. The major reasoning behind their claim is the belief in Bitcoins ability to take over financial payments such as remittances and online payments.
The company speculates that by 2025 Bitcoin will amount to 10 percent of all online payments, 20 percent of the remittance market and 20 percent of the micropayments market. They concluded that the Bitcoin network will account for almost $596 billion in the financial market.

This makes not much sense to me. I mean on the hand they see what big potential Bitcoin can have in these markets (e-commerce, remittances, micropayments) especially regarding costs and fees.And then on the other hand they predict imo a very very low and conservative price of $400. If it will happen that costs will be reduced that much because of Bitcoin, I bet my butt that we will see a way higher BTC price. Don't forget that halving will take place around august where the reward for mining blocks will be cut in half down to 12,5.

In a couple of years Western Union and all those similar payment procesors will go bankrupt because you will be hard pressed to find anyone that wants to pay the big fee they ask for when you can simply send the transaction with BTC overseas and instantly. BTC will be king of remittances for sure.