Now, now buying Bitcoin when it was worth a cent is at the top of the list of life regrets of many people we know, besides from losing the love of one’s life or moving to a beautiful tropical island paradise. In fact, it is on top of that list for most people.
Just think about Christopher Koch, who bought $27’s worth of Bitcoin and forgot all about them only to discover significantly later they were worth, well, a lot. Gizmodo reports:
“Four years ago, Oslo-man Christopher Koch’s girlfriend scoffed at his purchase of $27-worth of Bitcoin. Chances are she was singing a decidedly different tune last April when Koch checked back in on his investment and found out it was worth $886,000. And over a cool million today.”
And this was all the way back in 2013 when Bitcoins were worth so much less than today! Coindesk show Bitcoins on the rise despite recent crises, this week and
Why Bitcoins will cost $100 000
If you were good at market analysis then or just plain lucky like Christopher, you would have seen ROIs with so many digits you’d have to physically move your head to read the number.
The price of Bitcoin has increased dramatically in the last few years, dividing the humanity into angry and dissatisfied people who didn’t buy them at the beginning (they mostly use terms like “volatility”, “bubble” and “fraud”) – and people who have bought them at the right time and cashed in and got out in December. That will be the only time in recent history winter comes before the fall, haha. These people use terms like “my yacht” and “foie-gras”.
So what makes the one type of people different from the other? Why did some people know in advance? Would the sharp rise be possible to predict? Let’s take a look at market predictions by some people we are used to trusting.
As you know, Saxo Bank’s very own Kay Van-Petersen has made headlines more than once on the topic stating Bitcoins will reach as high as $100 000 in 2018.
“Kay Van-Petersen made waves in Dec. 2016 when he predicted that the bitcoin price could reach as high as $2,000 in 2017, representing more than 100 percent of upside from its level at the time. Now, the Saxo analyst is upping the ante. Van-Petersen told CNBC that he believes the bitcoin price could reach $50,000 to $100,000 before the end of 2018 — an increase of 300 percent to 700 percent from its value on Tuesday morning.”
We are sure that Bitcoins have given rise to a lot of panics lately with the recent decreases in price, even though we have long argued that the decline in price was because the world’s infrastructure is adjusting to Bitcoin.
Why we agree
We were stating from the beginning it was only a matter of time until Bitcoins hit an all-time high – just when the world was ready, after server overload we saw in December was no longer a problem. Saxo Bank’s finest is thinking in the same direction:
“Despite the bullish developments, the bitcoin’s heated rally has cooled in recent weeks. Since the beginning of January, the bitcoin price has declined by more than nine percent, and it currently sits approximately 40 percent below the all-time high it set on Dec. 17.”
Petersen believes that still, we haven’t seen all of the possibilities Bitcoins have to offer, which is why we are yet to see it at anywhere from $50 000 to $100 000, even though he is sure that thanks to better leadership Etherium will outperform Bitcoin in the years to come.
In a similar way statements have been made about the future of Bitcoin in 2018 by Gatecoin’s Thomas Glucksmann, who said in his interview to CNBC:
“Increasing regulatory recognition of cryptocurrency exchanges, the entrance of institutional capital and major technology developments will contribute to the market’s rebound and push cryptocurrency prices to all new highs this year.”
While it is true that Bitcoin is quite volatile, going from $14 000 to $5,250 in just one month, the changes in price are the result of cause-and-effect market dynamics. In other words, there are various reasons for the dynamics we are seeing today, and, even though these reasons can be difficult to calculate unless you are a trained professional, predicting the outcome is possible with a certain degree of reason.
We strongly recommend consulting a market analyst if you’re going to question Bitcoin’s futures in every sense of the word, and trusting professionals to do the work instead of going to tabloids and people with no experience in the field who will tell you that the end is coming. We have, and we are confident that when vertical scalability is not an issue in this market anymore we are to see more staggering price increases in the days to come – and that is just a matter of time.
Image courtesy of Crypto News Magnet.