Quote from: bitgolden on July 03, 2018, 08:35:28 AM

Quote from: jaysabi on October 26, 2017, 09:13:33 PM

First, a word of warning: I think the valuation is overly optimistic, in the extreme, and I would take it with a grain of salt. May very well be a small analytics firm looking to grab some attention by making a splashy claim. That said, the report was published to the firm's paying clients, so their own credibility is on the line.

The company making the prediction is FundStrat, which describes itself as:

Quote

We are an independent research boutique, providing market strategy and sector research. Our differentiated approach is based on what we call fundamental strategy. That is, our research process combines both top-down strategy and bottoms-up fundamental views, to develop a roadmap of practical and useful investment insights for our clients.

According to FundStrat, Bitcoin is following Metcalfes Law, which essentially sketches out the value of a network based on how many users it has.

If you modeled something as simple as square the number of users plus transaction value, its explained 94% of [Bitcoins price appreciation] this year, Lee said.

Now, as for the future valuation, Tom Lee, Managing Partner of Fundstrat, put a $25,000 price target for Bitcoin by 2022 in a note to clients published earlier this year. However, and this is important, this view is predicated on cryptocurrencies displacing gold in portfolios with Bitcoin serving a digital store of value.

Presently, I don't see that happening. I think people using crypto as a long term store of value are taking on immense risk, and I don't see something as volatile as crypto displacing gold, which is historically a hedge against inflation and therefore done out of safety. Bitcoin is pure risk.

A $25,000 price is fun to think about, even though I don't believe it's in the cards.

Hmph sometimes I ask myself if people are coming here to post questions just to piss others off, lol. Like, who even cares about what the price of Bitcoin will be in 2022? We are either talking about the current year or the next year, and not three or five years next.

The worst part is that people are always wrong with their predictions and by the way I want to start making profit right now and not five years coming, I know its good to have patience, but there is what Im trying to say Im not trying to say we shouldnt have patience, but at least We should give out information that are useful.

Exactly, bitcoin is really unpredictable which I believe it's part of the bitcoin capability. Well, as I've been here in the forum, there are many speculation about it's value and it's possible that it will reach $25,0000 anytime. I.don't think we can wait on that year just to hit $25,000 since many users believe that this year will br the best for bitcoin as ita value is unpredictable and I believe that soon anytime its value will gonna sky rocket as what wish for all here in bitcoin community.