⭐ Merited by nullius (1)
There, you are just being rational.
I am too cautious to predict “when”; but for my part, I will answer the “why”: Bitcoin’s fundamentals.
We are in the mid-$50k range with ATH >$60k, and very far from market saturation. Market cap is over $1 trillion. Absent a mass-catastrophe (e.g., disappearance of the Internet), the size of the Bitcoin market will grow at least another 20x–30x. That is a conservative estimation; it will probably grow much more.
I know that and my questions is for OP.I am too cautious to predict “when”; but for my part, I will answer the “why”: Bitcoin’s fundamentals.
We are in the mid-$50k range with ATH >$60k, and very far from market saturation. Market cap is over $1 trillion. Absent a mass-catastrophe (e.g., disappearance of the Internet), the size of the Bitcoin market will grow at least another 20x–30x. That is a conservative estimation; it will probably grow much more.
As he want to sell at $100,000, he should have reasons behind his belief or plans. Why (fundamentals): I agree with you) but if OP don't have clear idea on why bitcoin should increase in price, just buy because of FOMO and heard of others, crowd effects, he can be wrong.
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Supply is capped. >88% of maximum supply already exists. We currently have a low inflation rate, which will be economically negligible after the next halving. Therefore, price must increase.
I know too. With the next one or even later two halvings, bitcoin block rewards will be very low and it will be time to significantly increase the awareness of bitcoin deflation. It began with 2020 May halving but will become bigger.Quote
This analysis ignores the inevitable and accelerating devaluation of the dollar. When I call Bitcoin at a long-term value of over $1 million, that is according to the value of today’s dollars.
The devaluation of dollar is one of factors and it is not a determinant for the price of bitcoin. Bitcoin will hit $100,000 for example but instead of hitting that price in 2024, it can be done in 2021. Covid-19 reflects the dollar devaluation for the crowd.Quote
If Bitcion >$1 million seems crazy to you, just remember how crazy “Bitcoin >$50k” would have sounded five years ago.
—Oh, did you say $100k?
No. It is reasonable for me, not crazy. —Oh, did you say $100k?
