I'd be surprised to see a $5000 valuation anytime soon. That's insanely optimistic, and there are some alternative technologies (Ethereum anyone?) that have been giving Bitcoin a run for its money. That said, we do seem to be poised for another leg up, so $1000 or close to it by the end of the year would not surprise me. One thing's for sure: we've got interesting times ahead!
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I think bitcoin is far undervalued with a market cap of 10.000.000.000 for the service and use cases it is delivering to the world:
-Banking the unbanked people
-Currency for e-commerce
-Electronic gold / hedge against inflation and economic disasters
-Trading, gaming and gamble currency
Furthermore the rise has been extreme already in the past, but the adoption that will bring in the real big money still have to come. I think 5000 in short term is realistic and in long term is pessimistic.
On the technology of Ethereum i am very bullish, but i recently sold a part of my holdings because Rootstock and Counterparty will soon bring very secure smart contracts to the Bitcoin blockchain and Ethereum just split their community and blockchain by doing the hard fork. I doubt if they gonna make it in long term. Bitcoin is not yet threatened by competition.