How long will it take for bitcoins to be valued at USD $25,000?

[MichaelCorfman]

Bitcoins are once again nearly worth $USD 5,000, having recovered from a 1/3rd drop in value from the time they first reached that sort of valuation level a few weeks ago. That's a five-fold increase in value since the beginning of 2017. Of course, the million dollar question is what will happen to bitcoin valuation in the future. A few months ago we ran a poll, and at the time members here were pretty evenly split on whether they thought the currency would survive to 2030. You can see that poll here: What are the odds bitcoins will be worth nothing in 2030?

I recently read an article that suggested a further 200 fold increase from the USD $5,000 level is necessary for bitcoin to be a legitimate currency. Here is the article:

Bitcoin needs to be worth $1,000,000 to be a legitimate currency.

Since it is quite a few of us affiliates to be involved in receiving bitcoins today for some of their affiliate payments, and sometimes ride the valuation changes up or down, I thought I'd ask what timeframe you might expect another five-fold increase to a bitcoin valuation of USD $25,000? Do you think it will ever happen, and if you do, how long do you think it will take?

Michael

[Muppet]

The last person I would listen to for advice on anything is the head of company involved in binary options and forex trading scams like eToro. What is the "legitimate currency" statement supposed to mean anyway? Bitcoin is already treated as a currency and taxed in many countries and you can use it to buy things if you want so it seems to me it is already a "legitimate currency".

Opinions on when it might or might not reach a certain price are pointless.

[sweetbet]

With another Bitcoin fork due on 25 October, the general consensus is that the price will go over 5K by the end of the month. When will it reach the $25K mark? It's really anyone's guess, but at the rate that it has been climbing, I would say within 5 years.

[Sherlock]

Bitcoin went up 10x, so 5x seems inevitable to many people. But it can and will be very tough.

What is the "legitimate currency" statement supposed to mean anyway?

Exactly. It is just a clickbait. Bitcoin was recently allowed in Japan as currency, but for Bitcoin it is not so big news.

If crypto adoption will continue, there will be a battle bitcoin vs. monetary policy. Kenneth Rogoff is certainly uninformed how cryptocurrencies work, but he knows what the governments will try to do: https://www.theguardian.com/technolo...cryptocurrency

Currently we can see what is happening with disruptive p2p projects like Uber or Airbnb. They are being regulated. Bitcoin can not be regulated, but the gates btc<->fiat can be and will be. It will not destroy cryptos, but it will keep suppressing the growth.

The best for bitcoin would be as many bans on goods and services as possible. If governments ban or restrict not just drugs and gambling, but also remittances (did you notice that it is not impossible to send even relatively small amounts of money out of EU without paperwork?) or uber/airbnb, it will be the best for bitcoin. Another recession with even deeper negative interest rates and cashless society would be another great thing for bitcoin future. Failed states and wars are another "good" factor for bitcoin.

The world is on brink of another bailout. Each year from now on will be just more chaotic. Bitcoin as safe haven will become bigger factor with higher bitcoin valuation. But there will be selloffs. There will be billionaires who will cash out a lot. Like recently Roger Ver naively hoping that he will buy a country for hipsters.

[Sherlock]

With another Bitcoin fork due on 25 October, the general consensus is that the price will go over 5K by the end of the month. When will it reach the $25K mark? It's really anyone's guess, but at the rate that it has been climbing, I would say within 5 years.

I believe that the price is rising mostly because of 1x/2x final countdown. Like 2 days ago when was found that Garzik ****** up clandestine replay protection for 2x, so it can not be used, the price went up immediately.

[Cash Bonus]

I personally believe that it will be anywhere from 13 to 25 months. It's not very long actually as time seems to just fly by these days. I mean, we're already almost in the middle of October 2017!

[hublot]

I believe that the price is rising mostly because of 1x/2x final countdown. Like 2 days ago when was found that Garzik ****** up clandestine replay protection for 2x, so it can not be used, the price went up immediately.

Many were also flipping BCH and Alt Coins into BTC in anticipation for the potential hard fork and potentially free new coins...

[Sherlock]

Yes, BCH dump is a factor too. And another reason of BCH dump is because BCH will be even more dumped if 2x wins, so it is getting priced in.

[sweetbet]

The guy in the following article believes in BTC so much that he sold his family home, motorbikes, furniture, clothes, shoes, children's toys and everything else that he owns and invested all the money in Bitcoin. He's currently living at a campsite while waiting for Bitcoin to boom

https://cointelegraph.com/news/bitco...-for-next-boom

[wonderpunter]

With another Bitcoin fork due on 25 October, the general consensus is that the price will go over 5K by the end of the month. When will it reach the $25K mark? It's really anyone's guess, but at the rate that it has been climbing, I would say within 5 years.

You might want to change that 5 to 6? 5200 today..

[Sherlock]

Honestly IDK when and if btc makes it to 25K, but I know exactly when the recent rally will end: at the minute when bettingpartners will pay me this month.

[BestBonusBets]

The real question is how long until 10 satoshies buys you a big mac meal?

[wonderpunter]

Honestly IDK when and if btc makes it to 25K, but I know exactly when the recent rally will end: at the minute when bettingpartners will pay me this month.

I see they were nice enough to pay a couple of days early this month at it's peak

[Sherlock]

No problem, I guarantee you that there will be a second peak. I have highest bp revenue ever.

[TheGooner]

We got a good payout - and it's a sign of how much the BTC has increased in value that our selling is easy to do -with plenty of volume .
Although I'll still push prices down $15-$20 if I release all BTC ... so have to drip feed it over 20 minutes or so.

In times past it took me 2-3 hours to get enough volume at good prices.

[PROFRBcom]

Although I'll still push prices down $15-$20 if I release all BTC ... so have to drip feed it over 20 minutes or so.

Gooner is clearly bringing in the big bucks!

[TheGooner]

Gooner is clearly bringing in the big bucks!

Good bucks, but probably far less than you'd think in order to move the BTC market.

In my particular market - Kraken / EUR - there really is not much volume at the cutting end.
Nearly all the offers/bids are small fish with 1/10ths or 5/100ths - small time traders?
But according to cryptowatch it's the 6th biggest BTC market on the planet! WTF?

If you plonk down 10 BTC you wipe out E20/25 of buying range - I am surprised at the lack of volume.
I guess most BTC are still being HODL'led, or at the exchange being used by small time day-traders.

[Sherlock]

Kraken is unusable for traders. Their platform is down at any price movement. So any traders stop using it. Also there is limited possibility to trade on margin. Kraken is simply EUR<->fiat platform.

Also they are not 6th even here https://coinmarketcap.com/currencies/bitcoin/#markets and it is not a full list of BTC pairs (LBC missing). Leading bitfinex has 10x more turnover. I have action now there and even when I do not trust them much, they have the best trading platform I saw.

20 mins is ok time to spend, IMO. I spent hundreds of hours conservatively buying the cryptos to avoid slippages.

10BTC nowadays is huge money. There are no more 1BTC clubs, but 0.1BTC clubs.

[TheGooner]

I now have a personal Bitfinex account - thanks.


I find Kraken good for business use, as I'm not using it during times of quick change - and they give me very good daily / monthly volume limits.

I see the EUR market at Kraken is listed as 11th today, but there are a few oddities (MONA to BTC ??).
During weekdays it is usually top five or six.

[Sherlock]

Well, do not thank me, because at Bitfinex you probably can not make fiat payouts. I am buying some alts there for btc. It is more like Poloniex now.

At bfx you can just instantly exchange much more Bitcoins to USDT for example and the USDT must be claimed elsewhere (at Kraken for example ). USDT has fixed rate, but you have to pay double conversion then. But during peaks like this it pays off, because now the price of BTC at bitfinex is 1.5% above Kraken ( http://whalepool.io:8080/coinorama/ )

Yes it makes sense that Kraken drops during weekends, because they are more like exchange kiosk than trading platform. Everyone is leaving them. Bitstamp is going to take the EUR <-> BTC action, but I heard there are long waiting lines for verification.

Very odd is at Bifinex that they let you trade and withdraw anything without verification. It smells.