Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Biodom
on 22/01/2017, 22:59:14 UTC
i do expect that the price of bitcoin will trade betweem $850 and $950 for some time,

I don't think so. Too many people want to have at least one bitcoin.

true, and not even every millionaire (denominated in $) could have one. there are more millionaires existing than bitcoin.

This is a great fact.

Half of 1.4 million Chinese millionaires want to leave China within 5 years, not sure if it would be possible, though.
All millionaires =58.7 trillion in wealth.
http://money.cnn.com/2016/06/23/news/economy/asian-millionaires-wealth/
Even if they allocate just 1% to bitcoin (a fraction of gold), bitcoin's market cap would be 587 bil or currently about $36400/btc.
Chinese exchanges discussing starting trading in mBTC (1/1000) is a first step.
https://twitter.com/bobbyclee/status/823000703660457986
At some point even millionaires will be reduced to buying fractions of btc, if btc will remain the main crypto.