it blow past $80k by Nov 1st, 2024
Does it matters if it blow now or later? What really matters now is for you to take your accumulation process seriously and have a slice of bitcoin before we pass the $100k ballmark. Surely bitcoin must soar higher above $100k so $80k is even less of the amount expected of bitcoin. I see your post as a mear speculation which anyone can just predict which I can't ask your what reason since here is a speculation board, but the road to $100k should always ring a bell to all accumulators to take bitcoin seriously before it becomes more expensive and people may never have that privilege to acquire the amount they ought to have accumulated. I.e if $30k was able to give you 0.5btc @$60k per bitcoin, when bitcoin hit above $100k or $120k that $30k will give the half or 0.5btc which is equal to 0.25btc. buy now and HODl.$100K wasn't and never would be the goal. It's just a psychological level to cross into the 6 digit figure and I wouldn't advice buying $30K BTC all at once.
Personal opinion though, would personally buy in intervals or better still use half and keep the others for DCA.
And also maybe some Incase of a dip.
It is not good to force the will, invest in accordance with your own abilities and remain in the path of good money management so as not to be a messy investment even though you can buy more bitcoin today, but if you use money for your life this month is something that is something that is Silly in investing, still accumulates until you feel enough to hold.
I don't know how long it would take but I don't want to be a shrimp anymore atleast a Crab. Though I love to hold
A priority I must say but I want to use Bitcoin to make a Life changing transaction.
Spoiler definitely not a depreciating asset or want more of a need.
If by shrimp and crab, we are referring to the ranks in the below chart, then yeah a shrimp is less than 1 BTC and a crab is from 1 BTC to 9.999999999 BTC.
We know that the best waay to accumulate BTC is by ongoingly buying it, so hopefully you are doing that.
Ouch a shrimp
Atleast not a no coiner
Bitcoin our Ocean
#haiku#
Only knew about whales before.
And JJG is of course correct when he says that this could as well take 50 or 100 years because it would indeed be positively ridiculous if bitcoin's market cap would overtake that of gold within 20 years of its existence, considering that gold has thousands of years of history to look back on.
When I mentioned 50-200 years, I was referring to bitcoin reaching 1,000x gold's market cap.Bitcoin could reach parity with gold's market cap this cycle or next cycle.. that is a much easier target, and surely even bitcoin reaching parity with gold's market cap (which might be in the ballpark of $600k to $700k per BTC) is not even guaranteed to happen, but surely it is not impossible to do or even unrealistic in this cycle.. perhaps even greater than 10% odds for this cycle, just like there perhaps could be odds approaching 0.5% for BTC to reach $2 million this cycle..
Although, while a lot of people may not really see the possibility of Bitcoin hitting such amount, I personally believe Bitcoin has the potential.
Some experts are bullish in their predictions, predicting $400k to $500k by 2025 while others are more cautious with their predictions. Nonetheless, either way, Bitcoin has all it takes as well as the potential for growth, particularly if institutional investments increases and more investors view and acknowledge Bitcoin as a store of value as this could particularly drive the demand of Bitcoin.
You’re absolutely right, while this is merely just a speculation, it still wouldn’t be seen as unrealistic or impossible for Bitcoin to hit such target in this cycle or even the next. If you feel the odds are 10% for this cycle, it could only mean the odds will surely be higher in the next cycle and makes it even more achievable. Well you just might never know what the future holds for Bitcoin.
Of course the market caps of both gold and bitcoin are a bit of moving targets, yet the market cap for gold is currently right around $18 trillion and the market cap for bitcoin is around 1.3 trillion, so bitcoin is about 14x smaller than gold in terms of its market cap.