Post
Topic
Board Speculation
Re: $10,000 when?
by
Biodom
on 19/11/2014, 19:53:07 UTC
When considering if/when bitcoin price will hit $10,000 per coin remember:

Presently 3,600 coins are created each day.
At the current price of $375 per coin, that's $1.35M of additional supply created daily and $493M of additional supply created yearly.
The amount of demand coming in has been less than "Existing Supply" + "New Supply" so the price has been going down.

If bitcoin was to reach $10,000 per coin before the next halving.  (Currently estimated to occur 2016-07-31)  http://bitcoinclock.com/
The amount of new supply created would be:
Daily = $36 Million
Yearly = $493 Billion

Its not going to happen.  

daily 36 mil=yearly 13.1 bil, NOT 493 bil

yearly 13.1 bil is a small number. We have single entity hedge funds that have more under management.
A single minuscule entity-Second market seems to be buying BTC at a ~1000-1500 BTC/day average in the last 2-3 weeks.