100.000 $ is much? I don’t think so. There are plenty of reasons why Bitcoin will rise up over the mark of 100.000 $/BTC.
The first reason is the Halving of the rewards for bitcoin miners in May of 2020. This will increase the price, like in the past. As a reminder the past halvings let the price rise up to 900 – 2600 %. Currently price is between 5 – 10k. This explains the price of 100k.
In 2016, the price was hyped up until it reached a unreasonable zenith of 20k. Back in the days, investors didn’t know what to expect. But coinbase.com and others are established companies with serious business models behind them. Moreover, the miners are no weirdos in the underdeveloped county of Sichuan.
One of the unsolved problems in 2016 was the scalability of the blockchain. Transaction fees of 20$ per transaction made it unusable. There are now usable options that will change the Crypto market for good. Now, Bitcoin has a reasonable chance to hit the market, not only with a symbolic value but with a profound usage and demand. Especially in the Latin America, when the next currency is about to collapse, people will convert their savings in Bitcoin. Furthermore, they are likely to pay in Bitcoin for that day on when there are no drawbacks (like transaction fees).
The Lightning Network is a solid game changer that will bring Bitcoin onto the market. Unfortunately, there is no established App/Wallet on the market available. For now, BlueWallet and Eclair Mobile will do it.
Blockchain investment opportunity
If you believe in the blockchain, it is very hard to find an investment, because of the blockchain itself. It is a distributed system that basically distributes the property amongst all provider/user.
Bitcoin is a blockchain itself and you can invest in it – how great is that!
In my personal opinion, if any cryptocurrency has the potential be used, it is Bitcoin. Like the internet has shown before, the “Winner takes it all” principle will execute. There is simply no demand for several cryptocurrencies on the market.
Believe it or not, Bitcoin has huge positive effect on climate change. Bitcoin mining (computational power consumption) does happen in locations where energy costs are low. And they are low because energy can be produced cheap and an abundance exists, mostly out of renewable energy. So, mining does a service to the world and transfers the energy from places that are too far to provide big cities with energy.
Some places to list here: Norway, Swiss and China (Sichuan).
This one of my favorite: States will regulate it and prohibit it.
Right! States and traditional banks will hate this new shit. But it is the new form of payment and you can either fight it or use it. History shows that states usually are trying to fight modernism, but in the end lose every time. In the new digital era, this disrupt technology will evolve far quicker than expected. The first state that supports Bitcoin transactions will receive a big economical advantage. Banks will be obsolete and states will find a way to obtain taxes either way.
Now is the time to look deeper into Bitcoin issues. It will, most likely, dissolve banks in the traditional format that we know and create a new unified currency.
I can’t wait for using Bitcoin in the supermarket everyday.