Log graph today of bitcoins price from 2010 to March 2018 -
https://imgur.com/gallery/nD4rH That $6.9K price today at the bottom looks tempting if you believe bitcoin is going to follow the long term growth line on this chart, which to my eye would put it at a cool $1 million per bitcoin in ~ 6 years say 2024 - unless the whole thing crashes and burns of course.
But I honestly cant see that happening, with increasing use and ownership of bitcoin worldwide and with a team of 200 top developers working on stellar improvements for it so that its ready for worldwide adult adoption rates of 5-10% up from the 0.5-1% of us who own it now!
What do others think bitcoins long term growth rate will be or not be, and what are your price predictions for 2024 looking at this long-term log chart? Interested to hear, and anyone buying at $6.9K? They say dont try to catch a falling knife so Im waiting and watching!
Thanks for that picture.
$1million in 6 years seems to be way too much imo. I myself am pretty bullish on Bitcoin's long term growth and value. But a 7 figure $ value will probably need at least one or two more decades. And even then this is a highly speculative assumption as this would mean a marketcap of almost 3 times as high as gold now. In comparison to all the other markets and assets out there (derivatives, bond and stock market,forex market, private and commercial property market, foreign offshore tax haven accounts etc.), it is of course possible, as Bitcoin is ridiculously small compared to them.
In 2024 I hope we will have reached $100k. That would be amazing. As there will be 2 more halvenings happen until then, which will cut the supply to 3.125 BTC per Block, this should be possible, if Bitcoin continues to be around until then as the dominant coin and open Blockchain.
Maybe we'll be way higher in price, but I like to be more conservative than too optimistic. Giving predictions 6 years ahead is in general impossible in crypto as we know how fast this space evolves.