That sounds to me a lot like gold bug mantra. I have heard it a lot since the crash from the ATH in gold. That is in the last FIVE years gold was gonna go someday to five digit territory and even beyond. Never happened. Quite to the contrary gold was put under huge selling pressure instantiated by the big banks (also called The Cartel by the gold bugs) every time there was an important support line, to induce even more damage. And so gold went from $19xx to $10xx handle, that is nearly 50% discount. Bitcoin is of course younger and more volatile, but $5k is a pure sci-fi and I suppose this thread should be moved to such a section.
For the record I'm not a goldbug. In fact, I hold zero physical gold. Instead I hold physical silver and I believe silver has much higher profit potential than gold. Silver is simply undervalued, especially against gold. I will swap my silver to gold when the silver/gold ratio goes down.
The demand for physical precious metals is getting higher and higher lately. We all know that the amount of physical precious metals in the vaults is far lower than what is shown in the books. Guess what happens when the vaults get empty? That's when the price skyrockets but people are unable to buy into gold/silver since there is simply nothing left. People will then look other alternatives such as bitcoins and
BOOM BTC GOES TO 17000$what happens when the vaults get empty? Nothing, the price manipulation scheme in the paper markets (of gold and silver) will continue as usual. That would be my bet. As today, when each paper ounce has many claimers, and nobody even bothers to take the delivery. This is how these markets work since 70s (the final unpeg from the gold standard), and I wouldn't be surprised if this scheme works another forty years. As long as there is nearly no-one taking the delivery, the game continues. And what influence would it have on the Bitcoin market? I have no clue, but I guess less than you expect. Therefore, I would be very reluctant to predict four digit Bitcoin prices based on that. Bitcoin needs to improve a lot in terms of adoption, before you can expect to rise stably into four digit territory, let alone $5k a piece.