Post
Topic
Board Beginners & Help
Re: When Will Bitcoin Reach $1000??
by
Valerian77
on 13/11/2013, 01:12:10 UTC
Not idea when exactly the price will reach 1000$. But I tend to believe it will be 10000$ end of 2015.

The reasons:
(1) baidu.com accepts Bitcoin. China has 500 Mio internet users which is beyond the rest of the world together
(2) Bitcoin cannot be vanished from the cyberspace anymore - if so some would have done already
(3) Bitcoin is not far from mass adoption. The barrier is low and nearly no investments must be done
(4) When Bitcoin becomes massively adopted it will replace WU (6000 Mio $) PP (7000 Mio $) etc

That is > 12000 Mio USD just for two of many companies. Now they are around 12 Mio BTC which is 1000 USD/BTC.
WU has 17% market share. That means the market for Bitcoin may be ten times as big eq. 120000 Mio USD which means nothing else than 10000 USD/BTC.

Until end of 2015 we have around 750 days. Let's say now the price is 300 USD (it is higher already). So the price will surge for 9700 / 700 USD/day ~13.8 USD ---

I think just the rise of 14 USD per day is a big reason for any business owner or shop to accept Bitcoin.

Finally it will take something like (1000 - 300) / 14 ~ 50 days until BTC is at 1000 $. From that point my prediction would be end of January.