Ninjastic
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Re: Will reach $10,000 before the end of the year?
by
RelBunny
on 31/10/2017, 21:35:35 UTC
Quote from: jackhdt on October 31, 2017, 03:16:29 PM
Quote from: RelBunny on October 31, 2017, 02:48:59 PM
Quote from: jackhdt on October 31, 2017, 02:20:07 PM
although I guess Bitcoin price will be higher than at present but I do not think Bitcoin reach $ 10,000 this year. increase $ 4000 within 2 months is hard thing to happen

Don't look at it in absolute values (well, not just you, there are many others looking at it the same way). Smiley

They way I like to see it, is that 1 USD is currently worth 0.00016667 BTC.
A month ago, 1 USD was roughly 0.00025 BTC.

So USD lost 0.00008333 BTC in the last month.


Now, in order for 1 BTC to reach 10000 USD, 1 USD would have to be 0.0001 BTC. So USD would have to lose only 0.00006667 BTC of value, which means it would have to lose less value than in the last month. Smiley



The point is, absolute value difference of 4000$ does not really mean a lot. As I already said previously, I also don't think it BTC will reach 10000$ this year, but it wouldn't really require a lot to reach it.
nobody convert dollars at BTC. USD's value fixed figure. We determine the value of a BTC =? $ Because the USD is fixed price, so we know that the price should go up or down

While I definitely agree it's unconventional, looking at USD value in BTC is mathematically the same as looking at BTC value in USD. If more people would look at it that way, more people would realize why BTC is actually very close to 10000$ value.

Also, due to constant inflation, USD is actually losing value more or less constantly, it's certainly not fixed.


I'm not saying you are wrong, I just want to stress out that looking at the same data in a little bit different way can give you a good clue why something could (or couldn't) happen. Or rather, why it wouldn't really be hard for something to happen (i.e. BTC reaching 10k$).