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     3 years ago  

    We can predict some things with some reasonable certainty. Price predictions are all the rage. Bitcoin should have been at million dollars a couple of years ago. The Bitcoin price is determined by

    • It's supply which is determined by an algorithm, based how well the difficulty adjusts to changes in the amount of hashing power used for mining.
    • The amount buying demand of the market and is unpredictable and is at times irrational

    So its all about predicting the demand. Long term I can see this thing go up but I wouldn't be too surprised to see Bitcoin fall to $30k again. Anything could happen.

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     3 years ago (edited) 

    Indeed, demand is growing and will grow in the foreseeable future. Supply is fixed by rules, not by rulers. I have no more questions, just a cofee please :)