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Will it be possible to bitcoin hit the 100k?
We have seen the price in Bitcoin price jump recently; it went from five thousand seven hundred to the current rate of seven thousand five hundred dollars.
That’s more than, 30% increase. In one of my previous article, we have estimated that the average historical decrease in Bitcoin is approximately 76%.
In today’s article, we will try to estimate what is an average historical increase in bitcoins price and how likely it is that the Satoshi Nakamoto bitcoin to hit 100k. This
First, let’s try to recap heavy estimated an average historical decrease
the price of Bitcoin. Just remember, this is not the bitcoin cash.
Let’s go back all the way to January 2011 when the price of the single
Bitcoin was only 6 cents. At hindsight, you wish you would buy a Bitcoin for only 6 cents and even Peter Schiff would.
In July 2011 Bitcoin price skyrocketed to a new all-time high of $30 per bitcoin but a few months later it dropped to almost 2 dollars, that’s ninety-three percent decrease.
Let’s keep those numbers in mind because we will need them to calculate an average historical drop,
Fast forward back two years all the way to January 2013, when bitcoins price had a significant spike, and it increased from $15 per bitcoin all the way to two hundred thirteen dollars per bitcoin in early April the same year.
Near future of bitcoin, to profit from it.
This happiness and hopes for Bitcoin Lambos little last a while, just literally a week later the price has plummeted all the way to $60. That’s almost seventy-two percent drop. After that drop of the price of bitcoin likely increased and remain stable for the most parts until October 2013 when Bitcoin price slowly reached $130 to buy bitcoin.
One month later the Bitcoin price has skyrocketed again to a new all-time
high all the way to one thousand one hundred thirty dollars per bitcoin.
Everyone was shocked, maybe some of those kids even liquidated their position to get those Lambos and Bitcoin unsurprisingly Kriste again all the way to $300, that’s another 72% drop.
Times of stability on the bitcoin price.
After that drop, the price of bitcoin remained stable and fluctuated between two and three hundred dollars per bitcoin.
From January 2015 all the way to January 2016, did not do anything for an entire year. Many people lost hope and interest in Bitcoin and left the market.
In the financial market and even in the cryptocurrency market, is not your IQ or your intelligence the most important thing, but it is rather your emotional stability and patience that will lead you to success.
If you do not have patience, you should not be in this market.
Since January 2016 to buy Bitcoin, the price started getting some momentum and it reached all the way to $1,000 in January 2017. During the same year, it reached a new all-time high level, and I’m pretty sure you remember this: more than 19,000 dollars per coin most of the people thought the trend would never end.
And this is the place where you can get free money. That’s funny, no free money for you my friend only major banks are eligible for free money from Federal Reserve, which bailed them out in 2008. What kind of capitalistic system is this?
They help capitalism while banks generate gains and we have socialism while the bank loses money.
Btc price decreased from $19,000 all the way to $6,000 that’s a six to eight percent drop. Assuming this is the floor, if it isn’t, then the level is nearby so now we can calculate an average historical reduction that the price of Bitcoin has experienced since it was released:
93% + 72% + 72% + 68% / 4 = 76 %.
So 76 % is an average price history drop.
Now let’s move up a notch and try to estimate an average historical
Let’s go back to April 2011 when one Btc price was around a dollar. It skyrocketed all the way to $30 that’s a 2009 hundred percent increase.
Wow! Who wouldn’t want that?
Let’s move on to the price history from February 2013 when to buy Bitcoin was around $20, and it increased all the way to two hundred thirteen dollars. That’s almost 1,000 percent increase. Check the bitcoin price chart below.
- Price chart
- Price chart
- Price chart
Let’s go to the next rally which happened later the same year in September 2013. To buy bitcoin, the price reached around a hundred bucks, the rate has increased all the way to one thousand one hundred thirty dollars. That’s a 1030% increase.
Very appealing creative returns.
Now finally let’s go back to the most recent times. That probably familiar to most of us dealing with the cryptocurrency market.
Current price of bitcoin news from the price action
The price history from January 2017, when between increased from one thousand dollars, all the way to nineteen thousand dollars. That’s a one thousand eight hundred percent increase. This may seem such an unlikely return. To get this kind of profit from the stock market, you will have to go back 40 years and purchase S&P 500 for $150 per share in the early 1980s. Now it cost around 2,800 dollars per share. Check the bitcoin price chart below.
So let’s calculate an average historical increase that bitcoin’s price had experienced since its existence.
2900% + 1000% + 1030% + 1800% / 4 = 1700%.
Suppose Bitcoin news will repeat its historical increase, from the recent bottom. Let’s round it up to six thousand dollars per coin. If Bitcoin price increased by one thousand seven hundred percent, that would put the
Now the question is if one point seven trillion dollars is a realistic market cap for
Well, let’s see.
By now you should know that Bitcoin is efficient money and a great way to store value. So, if you look at another asset to store a value such as gold which market capitalization, it consists of eight trillion dollars. If
So the question is if this is possible that
It is possible, it’s not only possible, but it is also probable, it’s very likely that this is going to happen.
I would argue that bitcoin preserves a better function of money than gold. Yes, Gold has a proven history records, and it has been money for more than five thousand years.
However, there are some advantages to using Bitcoin:
- First Bitcoin scarce.
- It has a limited supply, there is only 21 million of them and can never be more. I can tell you exactly what amount of the Bitcoin is going to be tomorrow one year from today or 10 years from today.
- Unlike gold, bitcoin is easily divisible: one Bitcoin can be cut into 100 million pieces, try to cut one kilo of gold in two hundred million pieces.
- Bitcoin is by far the most divisible money we have ever seen.
- Bitcoin is also durable, Bitcoin exists because of the distributed ledger, surely enough. If the internet went down most likely you wouldn’t be able to use bitcoin, but it is also true, with any other form of payment system including credit cards, PayPal, banks and any other type of modern money.
- Bitcoin is fungible; each bitcoin is worth the same as any other.
- Every bitcoin wallet test if the bitcoin is legitimate or not.
- Bitcoin cannot be counterfeited. Unlike gold, it cannot be filled with copper and colored.
- And most importantly, bitcoin is highly portable. You can send it anywhere in the earth it most easy crossing any border, that has no weight no smell no physical body that
- can be stopped.
Bitcoin is the only form of money today that can be moved in these things without trusting a third party. It is the only form of payment that does not require permission. Try to walk a few kilos of gold overseas and see how expensive and stressful is going to get. There are other variations of bitcoin like Bitcoin Cash, but practically the use is the same.
So this is it, let me know what you guys think about potential bitcoin’s price.
Do you think those numbers are realistic?
Leave your thoughts in the comment section below if you enjoyed this article.
Jesus GuzmanJesus Guzman