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Hi,

Can all of you bitcoin and market gurus please explain for a dumb kid like me WHY bitcoin will and can be worth 1000-3000 USD (some say $10000 to $1MIL which I find weird?!).
One reason I think I've understood is that once all the bitcoins are mined and bitcoins goes global... we can kinda set the price. Is this correct?

Please list every reason and explain it like it's for a 10 yr old. I often see "BITCOIN WILL REACH THE PRICE XXXX USD" but never a reason why.
My heart says I should hold on to all of my bitcoins but my paranoid brain says "No. Plenty of crashes before that."

Thanks in advance.

because owning bitcoins gives you rights of ownership of the relative data stored on the Blockchain, which is the world's biggest, more widespread and popular p2p decentralized network, hence bitcoins have an intrinsic value.
because bitcoins have the pros without cons of gold, which makes them and ideal store of value.
because bitcoins have the pros without the cons of cash, which which makes them the ultimate payment method for in person trades.
because bitcoins have the pros without the cons of electronic payment systems, and are much more secure and fast than those, which makes them the ultimate payment method for online trades.
because bitcoins are non inflationary, which means that if demand and adoption grow, their value is bound to rise.
and many more reasons, these are the most notheworthy.

you would just need one of these reasons to justify such prices, but you have all of them.

I think you are right, but its also the fact that we are making the price of the bitcoin with the whole bitcoin itself so I think we can also say the price is made by our self right ?

Its also the fact that the halving is coming and that will let the price go to a high amount or maybe to a lower amount, you of course never know what is gonna happen.

Indeed, you are right the price will go to a high amount soon or later, this is of course because of the different factors the bitcoin depends on.
One of them is the halving that will let the price jump another one is that the people are believing again in the bitcoin.

The price will go to a high amount that is true, but the halving can also be a bad thing for the bitcoin and can get it collapsed.
In my opinion this could happen, most likely not but the bitcoin is not to predict, the only thing that can give the bitcoin a very good boost is the halving.

I think after halving bitcoin will get stability in price at certain high point as it will be finished mining for generating bitcoins only used for transactions verification only.

At that point Bitcoin only used for trade or exchange on P2p market as well as B2b market. So more chances on bitcoin price are high.