Re: Bitcoin is going to either $10k or $3k by the end of 2018
The majority of the people around the world are expecting the bitcoin price to reach $10,000 at least but it is currently doing downwards maybe it will fall down to $3000.
Bitcoin likely isn't going to hit anywhere near 10k this year. That's just a magic number people like. Without some huge news driving demand bitcoin will likely stagnate or maybe even continue to fall during Nov/Dec.
"The bitcoin price will go either up or down".
That's a great observation and I definitely agree. The price will either rise or fall, and at the end of the year bitcoin will be worth either more or less dollars than it is now.
That's a great observation and I definitely agree. The price will either rise or fall, and at the end of the year bitcoin will be worth either more or less dollars than it is now.
On another note, it really speaks volumes on how most people here have no prior experience in investment. Bitcoin goes down like 10% everyone freaks out and starts saying about how it's the end of cryptocurrency. Meanwhile the stocks of Activision Blizzard lost 40% in a month and I don't see investors freaking out and saying it's the end of video games.
It's not really the same. Those are companies not video games as a whole. There will always be a market for video games, but not necessarily from those companies. Same with bitcoin. There will always be a cryptocurrency but it certainly doesn't have to be bitcoin. That's where the huge issue lies for me. There's nothing really stopping any other currency from taking over bitcoin, but bitcoin still has the name and media behind it but that may not always be the case.
None of the PoW cryptocurrencies out there offer any solutions to the classic scaling problems of Bitcoin. And none of the PoW alternatives are safe enough to go and dump your bitcoins over it. Those alts that haven't had the problems Bitcoin has faced it's simply due them being irrelevant and not hosting any value worth attacking.
Scaling or not Bitcoin remains a better gold, and that use case alone is worth trillions of dollars. So how in the f*ck isn't Bitcoin insanely undervalued at $20k or $3k again?