Since the last few months bitcoin has experienced a very deep price correction from the price of the ATH level. But right now, the bitcoin price has continued to rise until it has risen to the current $44k range. Therefore, if the target price for this year is $100k, then I think it will be difficult because to reach the target price of $100k there needs to be a long rally and strong support from the crypto market. however, if the uptrend continues, bitcoin could hit its $100k price target at least next year.
Constantly good news from the Russian side: Russia considers accepting Bitcoin as a payment when selling oil and gas to their friendly countries and now they are ready to adopt bitcoin and crypto in the economy their. I hope bitcoin will hit 50k in april and no further drop this year.
100k$ its not difficult with bitcoin but certainly not this year it will take one more super cycle for bitcoin to hit 100k$.
I am having some troubles - especially with your last line.
You are recognizing that BTC prices are not far from $100k.. but also seeming to suggest a need for some kind of exponential event.
Remember BTC prices have already made it to $69k.. and thus $100k is ONLY about a 45% increase from that $69k price. Yes, we are currently at a bit more than $44k, so $100k would be right around 125% price rise from here...
Yeah, such price appreciation up to $100k would not be a cake walk, but I would not presume bitcoin to be incapable of decently correction minimized price jumps of 5x-20x within relatively short periods of time. Current market cap does not cause those kinds price runs to be out of the question, even if such price runs are likely to be lower chance events... in other words, it seems that people who speculate about $100k as being some kind of outrageously high price for bitcoin in which everyone is too rich to sustain it, seem to be failing refusing to recognize that people had similar ideas about $10k - especially in 2015, 2016 and 2017.. and even when many faces were melted.. bitcoin got to $10k and even doubled $10k for a short period of time without a whole hell of a lot of effort - even though it took another 5-7 years before $10k became a not too likely to be seen again bottom.... good luck to anyone still waiting for BTC prices in the $10k arena, even though not that long ago, $10k was a pretty difficult to imagine price for a lot of folks - beyond the seemingly bitcoin delusional.
I would agree, but I don't think it is all too much about the "if" here. Rather about the "when", taking into consideration shenanigans as they are about to be approved by the European Union. I think that does slow down the almost inevitable increase in Bitcoin's price on its way to 100k. Making unhosted wallets such a pain in the ass is bad and will slow down adoption. People here might know when and if to pass KYC and so on. But those from Europe who are new to crypto and like the idea of setting up their own wallet and play around, if they now have to go through KYC for every address they set up for themselves, that sucks so much!
Aren't we even well advised to set up new addresses frequently in order to preserve privacy? Now you soon might be forced in the EU to get them all verified, Imagine the hassle! I repeat myself, but I guess that is a pretty big bump in the road to 100k.
The whole KYC thing has been here for a while with normal bank accounts.
IMO if you can vouch for the source of your coins and the fact that you've paid taxes on them, then there's not a big problem. If countries can tax crypto and prevent crime then there is no reason to stop it's adoption as legal tender.
But yes if you got them from ISIS, selling drugs or hacking MtGox then it's going to be problematic.
And I agree that it sucks if you have to jump through hoops to be able to buy/sell your funds.
I am not sure in how far you are aware of the details, but Brian Armstrong laid them out pretty well on Twitter and doing some research on that, it's true what he writes. It is as if you would have to show your ID card for every single transaction that involves cash. Even worse in crypto, you have to undergo a KYC procedure for every wallet address. Every transaction from 1000 Euro onwards must be reported to authorities, even your rent payment. As Armstrong says, even if you send your cousin who suffers from an emergency some money. It is pretty crazy if you ask me.
Proper blockchain analytical tools might be much better here. The examples you mentioned probably involve a little more money and the ordinary Joe could still live an ordinary life. Transactions or transaction clusters involving ISIS are probably exceeding 1000 EUR slightly. Even if smartly funneled, I guess analytical tools could catch them while still allowing other, law abiding people to transact with one another without getting X-rayed permanently.
To me this is going too far. It won't stop Bitcoin, but I stick to my statement that it could slow down adoption by quite a bit as I don't have to go through all the hassle if I stick to fiat.
Did you see my last quote reply to you regarding Open Platform