If people buy Bitcoin at $8,000, they will get 100% profit only when Bitcoin reaches $16,000. If it takes 5 years to reach $16,000, people will earn more money from Gold and Silver than from Bitcoin. Silver is giving 20% to 35% profit in one year.
Mining cost of one Bitcoin is $5,000 or more. When Bitcoin was $400 or $800 it was understandable because people had to just spend $400 or $800 to get one Bitcoin and $1,200 is super high profits when Bitcoin started from $1.
this may be a reasonable prediction, but cryptoes are especially bitcoin full of surprises and sometimes beyond our reasonable predictions, we know by the middle of 2016 when bitcoin is still worth $ 565 we never realized at the end of 2017 could be worth 20k $ and it does not take 5 years to earn 40-fold profit and this is the reason many people to buy bitcoin