I say $100k by the end of the year or shortly after. I'm basing it off of this article. It says 2% of investors now own bitcoin but that 27% are "intrigued," meaning that with a little prodding they would buy. If we get a spooked market in the next 6 months, which is almost a certainty, at least for a brief time, followed by a flight to safety (BTC), the remainder of those 27% will pile in. Given the amount of players in the game now, extrapolating the proportional price with 13.5x the players gives us roughly $100k.
In fact, if we see such a hyper run, the price will probably overshoot that number by quite a bit then settle back down to it. If the last run was any indicator of how far it would overshoot, it could end up being twice that at the peak. I'm just guessing of course, but it's fun, so I'll throw my hat in the ring.
Hey at least you have some rational behind your guessing! :) I hope you are right, though.
crypto price guessing. As much fun as darts. And probably just as reliable. ^_^
I just don't know what to do if bitcoin gets to $200,000 this year. What do you trade into?
That is a good point. If bitcoin goes to $200k, it's likely because it has emerged as a global currency, likely at the expense of many fiat currencies. If bitcoin gets that high, there is probably a good reason.
I'd trade 20% for a basket of my favorite cryptos before rolling them around and 15-30% for fiat (I'm going long on Yuan), cash out 15%, move 25% into precious metals (to catch the new year uptick in gold), and sit on the rest.
Good question