⭐ Merited by JayJuanGee (1)
... bitcoin is currently $71k and 10x of bitcoin will amount to $710k which is not possible anytime soon.
We have seen many predictions about Bitcoin going wrong in the past. For you 710k is not possible anytime soon but there are people who think that Bitcoin will hit 1M $ very soon. I remain positive about Bitcoin future price as it's evident from historical data. Yet I refrain myself from making any prediction about Bitcoin future price.
In 2017, we saw Bitcoin jumping from 1000$ in Jan to 19k in Dec, all this happen in less then a year. May be in Jan 2017 people were saying that 10x increase in Bitcoin price not possible anytime soon. And then we saw Bitcoin at 3500$ in Dec 2018.
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100$ to 1000$ was given as an example in context of Bitcoin security. Even if 100$ grow to 300$ or 400$, one need to revise his security measures.
Let's assume you invested $100 every week 5years ago, you will be able to have accumulated approximately $45k worth of bitcoin in your portfolio by now .
I follow https://dcacryptocalculator.com/ for DCA calculations and according to that site 100$ per week for last five years will give you 89.67k $ worth of Bitcoins. Don't know which one of us is correct.
Investing $50k into bitcoin over 8 years should totally be within reach of some one who currently might be able to invest around $71 per week with perhaps some anticipation that over the coming 8 years his disposable income will increase and he would be able to invest 10% more into bitcoin each year. It would look something like this.
This is the table. But this is only an example for you to use and make you own calculations. The table is Bitcoin DCA investment in prior to 8 yeas starting from 2024 to 2032. Investment staring from $71 each week and progressively increases the DCA as bitcoin keep rising. This investment is in prior to current price of bitcoin 2024 as at the time of making the table so if it was made today the end point would not have given you the exact amount of btc. Of course we are talking about 5 years ago but not 8years from now. I think you should make your own table by back dating it and using the bitcoin price starting from 2020 - 2024 and get your amount even though surely it's not going to give you the exact figure but approximately.
Even though all this will not be pretty necessary but accumulation should be taken seriously.