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RE: Musing Posts

in #musing-threads7 years ago

No one knows. The "Experts" are just people who hold a lot of Bitcoin and have some influence in the cryptocurrency community. If they claim the Bitcoin price will rise to $25,000, some new people will believe them and want to buy Bitcoin when it is lower then that, therefore raising the price. The problem with this is that nearly no one has enough influence to cause thousands if not millions of people to suddenly invest thousands into Bitcoin, save Satoshi Nakamoto himself.

No one can accurately judge how high Bitcoin will be. Everyone is making shots in the dark, enough so that any amount Bitcoin rose, those people would say they are right. If it rose to $10,000, the people who said it would reach $10,000 would say they were right, if it rose to $20,000 those people would say the same and so on. You can't estimate what the price of Bitcoin will be accurately, because it's basically random.