Re: Bitcoin Prices for March 2018, March 2019 and March 2020 and why.
My long term price predictions are as follows:
Scenario 1
March 1st 2018 - $8,950 per 1 BTC
March 1st 2019 - $68,059 per 1 BTC
March 1st 2020 - $517,536 per 1 BTC
March 1st 2021 - $3,935,454 Per 1 BTC
How I arrived at the above numbers........
July 17th 2010 bitcoin price was $0.05 (the price when it started TRADING)
and on Dec 6th 2010 bitcoin price was $375.00
Time interval between both dates is 1604 days or 53 months
The computed doubling time for Bitcoin worked out to be 4.1 months between the two dates
ie every 4.1 months over the 53 months time period , the price doubled
Scenario 1
March 1st 2018 - $8,950 per 1 BTC
March 1st 2019 - $68,059 per 1 BTC
March 1st 2020 - $517,536 per 1 BTC
March 1st 2021 - $3,935,454 Per 1 BTC
How I arrived at the above numbers........
July 17th 2010 bitcoin price was $0.05 (the price when it started TRADING)
and on Dec 6th 2010 bitcoin price was $375.00
Time interval between both dates is 1604 days or 53 months
The computed doubling time for Bitcoin worked out to be 4.1 months between the two dates
ie every 4.1 months over the 53 months time period , the price doubled
here is a question: bacteria divides once in 20 min, how long would it take for the progeny of one bacteria to exceed the mass of Earth (providing that bacteria continues proliferation as described). Bacterial mass and Earth's mass are easily discernable/available.
Hint: not that long, but i like to hear your estimate
Conclusion: projections of current trends into the future are prone to be erroneous...fast.
Cheers