Same here, this is a post of mine from May 18th 2021 when Bitcoin was around $40,000 https://www.elitetrader.com/et/threads/is-crypto-becoming-dotcom-bubble-2-0.358775/#post-5387508
One Bitcoin May Be Worth $1 Billion by 2038, Fidelity Says Sep 2 2021 · 16:07 UTC by Tolu Ajiboye · 3 min read Photo: Depositphotos Facebook Twitter Instagram Telegram Reddit LinkedIn Newsletter Your e-mail* Jurrien Timmer of Fidelity forecasts Bitcoin to reach $1 billion two decades from now, shortly after an earlier $100 million prediction for 2035. One Bitcoin may be equivalent to $1 billion by 2038, according to Jurrien Timmer, Director of Global Macro at Fidelity. Timmer backed up his assertion with a 4-hour BTC/USD chart that combined the stock-to-flow model with his demand model. In Timmer’s words: “Metcalfe’s Law holds that, as the number of its users grows linearly, a network’s value (or, by inference, the bitcoin price) grows geometrically.” The implication is that the utility value of Bitcoin will outgrow its operational network. This operational network encompasses buyers, sellers, exchanges, and ATMs. In addition, it also includes participating retailers, both directly and indirectly, and some leading organizations such as the Dallas Mavericks and AT&T. Rounding out this network are a few insurers, several banks, and a multitude of small businesses. Timmer’s own demand model grows very slowly in proportion to the stock-to-flow combination supply model. The asset management director’s demand model predicts that BTC will reach $1 million by 2030. On the other hand, the stock-to-flow combination model forecasts a price of between $1 million and $10 million by 2030. Jurrien Timmer’s demand model seems to historically represent the floor or the bottom of the price. The stock-to-flow model appears to be a better fit for the peak. However, the gap between both models widens significantly after 2030. One of the suggested reasons for the widening gap after 2030 is the change in the value of the dollar. It should be noted, however, that this reasoning is not set in stone. Bitcoin Could Hit $1 Billion Because of Changes in the Dollar Value Timmer stated that the value of the dollar changes in relation to other assets. He further pointed out that $1 invested in stocks in the 18th century is worth about $4 billion of today’s money. Going by this assumption, $1 million today could be worth $1 billion in twenty years’ time. Changes in the dollar’s value, especially depreciation over several decades, render the same amount with less purchasing power. This is why huge sums back then appear less by today’s standards. For instance, $1 million could purchase a lot of significant things a few decades ago. To put this in perspective, reasonably higher-end houses in the US cost between $20,000 and $50,000. The same $1 million may not suffice for the same class of houses today. There is an increasing number of billionaires across the globe today. Some observers even believe that we may see the first trillionaire in this lifetime. The same applies to organizations, with several companies now passing the $1 trillion market cap valuation. Fidelity had previously pegged BTC to hit $100 million by 2035 using the same stock-to-flow model. Jurrien Timmer also made those predictions back then. As untested and uncertain Timmer’s predictions are, he is not the only one with such lofty forecasts. Deutsche Bank also forecasts that Bitcoin will dominate by 2030.
Dude, why you gotta lie, you were bashing Bitcoin when it was $12/btc If you spent $6,000 during that post, you would have $10 Million right now worth of Bitcoin
If your mammy had balls she would be your daddy how many did you buy at $12 ? think I started bashing it at $100, makes me a winna 1) said infinite number of BETTER coins could be invented 2) said FEDS would shut down all the scams 1 came true, didnt matter, there are too many morons in the world 2 FEDS said, fu, lose your money if everyone decides encapsulated celebrity farts are the new money, does that make ME the crazy one ?
They always forgot to mention there can be infinite number of BTC-clone cryptocurrencies, but for marketing purposes it's better to say "only one BTC limited to 21 million".
I wasn't bashing it, i was just laughing at the price chart. All those run ups and crashes. Back then it wasn't serious money people were losing on each crash. Losses were just measured in the millions in total during each crash. These days people have serious money on the line and it is no laughing matter. Trillions are being lost now in the crypto markets.
Yes, over $10 Trillion have been lost in the stock market and bond market value I've spoken with at least 2 friends recently who were planning to retire in 2-3 years and are now considering delaying the retirement for a few more years because of the value of their 401K's have declined significantly There are people like me who are invested in Bitcoin and crypto assets You're celebrating a price crash during a time when trillions of $ are being lost in many investments. Understand how you present yourself with your posts We'll be here when the cycle turns back to a bull market
This is con trick to bankrupt and control smaller economies. While rich countries hold $Trillions in hard gold reserves. They are now encouraging poorer countries to hold worthless crypto.