Re: Prominent Bitcoin Trader: Price is Heading Towards $100,000 in 2018
It would be dream to achieve that price of BTC. First of all, can you imagine that huge sellouts? trying to make that huge profits, there are so many new buyers needed to buy that Bitcoin,not coming with 100$ but with thousands of $$$, to buy Bitcoin priced at 100 000$... and I do not think this is real..
Second point is, there are holders who own milions of Bitcoins and exchanges are being traded with 1000-3000 Bitcoins? they can manipulate price so easily with their huge Bitcoin stacks..
Check this: https://bitcoinprivacy.net/richlist 1. wallet has over 116,898 Bitcoins, and I believe that there are many many many separated wallets owned by individuals, so if they would like to get rid of their holdings, to become rich also in real life, price could easily be dropped down to 3000 levels like now, with that weak buy power..
I am strong Bitcoin believer, but 100 000 is not looking real for me right now. (will be happy if you will be able to correct me within few years haha).
Second point is, there are holders who own milions of Bitcoins and exchanges are being traded with 1000-3000 Bitcoins? they can manipulate price so easily with their huge Bitcoin stacks..
Check this: https://bitcoinprivacy.net/richlist 1. wallet has over 116,898 Bitcoins, and I believe that there are many many many separated wallets owned by individuals, so if they would like to get rid of their holdings, to become rich also in real life, price could easily be dropped down to 3000 levels like now, with that weak buy power..
I am strong Bitcoin believer, but 100 000 is not looking real for me right now. (will be happy if you will be able to correct me within few years haha).
first off, its not really feasible (there is no way in Gods green Earth that folks would allow the price to rise that much without taking massive profit waaaay before that level). but if through some Faustian deal we approached even a fraction of this price level, we are doomed. people would lose confidence in the asset completely, as it would be plainly obvious at that point that the valuation had no basis in reality or utility. prices that high and that quick would essentially make this so much of a gamble.
and we are already enough of that, as it stands.