Quote from: loopes on November 09, 2017, 12:41:48 PM

Quote from: DustyRah on November 02, 2017, 04:02:42 PM

Looking at trends 2 or more years, Bitcoin appears to be headed for $70,000 over the next 3 years though it appears heavily bullish right now. Are there people with charts/trends etc taking us to the $70,000 level over the next 3 years?

let us flashback to 1 - 2 years ago, the price of bitcoin is about 500 USD - 600 USD but nowadays, after 2 years, the price has been increased so high more than 10 times.
but that is different situation with the current price. it will be so hard to increase 10 times again

But you are counting a lot of slow growth when bitcoin wasn't in the news at all and adoption was just chugging along just starting to recover from the lows of the long Mt Gox crash. Look at the past just 10 months. Over 7x in 10 months. Sure the rate of growth will slowdown. But 7x in 10 months to 10x in 38 months (end of 2020) sure seems like a doable slowdown. Heck in a couple more months price might hit $10k, so then it'd only need to do another 7x in 36 months.

Just look at the past 3 months. Price broke $3000 for the first time 3 months ago, and in that time it has gone up 150%! The doubling rate this year has been less than 4 months. Even if the doubling rate slows allllll the way down to 12 months starting now, in November of 2020 the price would still be $56k, And it is only that low if the growth percentage slows down by a massive amount starting right now, which obviously isn't gonna happen.

I would say this is not only possible but very likely. I'd be pretty surprised if the price is under $70k in three years. Likely the only way it is lower is if bitcoin devs fail to implement a good scaling solution in the next couple of years.