๐Ÿ”ต Bitcoin Bull Run Peak Dec 2021? $200,000-$300,000. How Will BTC Scaling & The Economy Affect Price?

in #bitcoin โ€ข 5 years ago (edited)

Referenced video: $211,000 Bitcoin

This model is using proportions to look at what has happened and overlay it with where we are now to look at potentialities. As such, this is a model using math. It is not my personal prediction.

The unpredictable economy may affect this considerably, both to the downside in the short term (due to panic), and to the upside in the long term (due to devaluation of fiat through inflation)

At some point the value of bitcoin and cryptocurrencies are going to HAVE to see an increase in value if only on the basis that the fiat they represent is going to become increasingly worthless once the newly printed money has hit the economy. This can take a little while to happen. And this is only the factor of fiat devaluation-- This is not even taking into account the increasing global adoption of cryptocurrencies which will additionally increase their value. So really, there are 2 positive forces working on the price of Bitcoin and cryptocurrencies simultaneously. In this light, I see it as a very high probability of vastly higher prices. Again, this is not financial advice.

It is also always possible that a Black Swan event could delay such events, but I see this as only being a delay and not a conclusive stop, much in the same way that Bitorrent cannot be stopped. Only onramps/offramps and government restrictions or bans can delay Bitcoin and cryptocurrency. So while they can add delays to its adoption, they cannot ultimately stop it.

Lastly, there is one additional factor that could stop Bitcoin from reaching its true price potential during this upcoming bull run, and that is scaling. As it stands, Bitcoin can handle about 4 transactions per second, with no scaling plans that will be ready and widely adopted before the bull run finishes. It is possible that Bitcoin scaling will end up happening on Ethereum or EOS or another blockchain, for example, as a layer 2 solution, but Bitcoin itself is congested, even today. As such, it is highly probable that Bitcoin will push away adoption and new users due to the increasing unusability of its blockchain, especially as exponentially larger numbers of new users attempt to onboard. Just like in 2017, it is likely that once fees and confirmation times on the Bitcoin network get too high, users will jump ship to alternative cryptocurrencies that can scale more readily.

Disclaimer: This video is not financial or investment advice. Do not buy, sell or trade cryptocurrency, or make any financial decisions based on the content of this video. I am merely sharing what I have done and what I would do in various situations as an educational tool only.

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5 years ago in #bitcoin by
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