Re: Bitcoin Could Exceed $1 Million in 7 -10 Years: PayPal Director
In my (subjective) opinion those chances of succeeding are at least 50%. If Bitcoin does succeed, 1 Bitcoin may be worth more than $1 million in 7 to 10 years. That is 250 times what it is worth today (at the time of writing the price of Bitcoin is ~ $4,000),- Xapo CEO Wences Casares
News Courtesy - https://www.ccn.com/one-bitcoin-could-exceed-1-million-in-7-10-years-paypal-director
News Courtesy - https://www.ccn.com/one-bitcoin-could-exceed-1-million-in-7-10-years-paypal-director
It is again only a prediction and as always it is difficult to say if this prediction will happen or not. I can well imagine that Bitcoin can reach this price at some point, even if a few doubts remain. But it was hard to imagine that the price would ever rise above $1000 when I started to invest in Bitcoin and today the price is way above that. Therefore I know, much is possible in crypto area, even such a high price in the future, but that's not all I'd count on.
The absence of sellers (and/or shorters?) is remarkable. On the 3d chart (Bitstamp), a full 16(!) out of the last 19 volume candles have been green, including the latest three. I readily concede that this is a reflection of the fact that a bottom was likely made at 3200ish.
Nevertheless, in view of the steep rise that we have recently seen, and i conjunction with sharply falling volumes, this should signal temporarily overbought conditions IMHO. One should think that the odds are stacked for some sort of correction at this point, but then this is Bitcoin, and I would not be surprised if we reach 6000 before any meaningful reversal occurs.