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Many observers are of the opinion that the value of Bitcoin will exceed the number that was achieved in December 2017 amounting to USD 19,783. However, many also disagree. What do you think?

Answers

0
vxn66617 days ago

I can't be sure about it. But I don't think Bitcoin is done breaking new records. The new cross-asset stock-to-flow model seems to work fine in predicting the valuations of many kinds of asset classes, not just Bitcoin. That the stock-to-flow ratio of Bitcoin (the number of years it takes to double to existing Bitcoin stock given the issuance schedule hard-coded into the protocol) doubles every year means that Bitcoin becomes scarcer and thus more valuable assuming that interest in it stays constant. What I consider likely is that central banks will be forced to keep printing more money to stave off a debt crisis and all that money will end up in the financial markets to prop up all asset classes. Cryptocurrencies are an emerging asset class that has recently drawn interest from institutional investors. I'm inclined to believe that Bitcoin will go much higher than the previous ATH.

https://medium.com/greyswandigital/testing-plan-s-cross-asset-stock-to-flow-model-on-housing-c84889304ddf

1
potta21 days ago

There is a good chance but I don't think it will happen anytime in the near future. Maybe a few year at least.

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pyramidone21 days ago

I believe that it is highly probable that Bitcoin continues to grow past that milestone in the near future. In recent years, many services have made Bitcoin be less abstract and more accessible to users. Great examples of this include Square's https://cash.app and Coinstar's CoinMe service.

1
sankysanket1822 days ago

I think bitcoin investors and enthusiasts will be more than happy if bitcoin breaks $12000 levels in upcoming months.

As for the answer to your question I am pretty sure bitcoin will cross $20k mark in near future especially if developing and poor countries don't come out of this forced recession caused by the pandemic. If inflation occurs and national currency starts losing its value investors will surely flock towards bitcoin as a store of value. (for eg. what happened in Venezuela)

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