There are lots of discussions swirling around bitcoin, but as of now 95% of people use it only like a speculation tool.
A famous analyst who correctly predicted the price of bitcoin some years ago when it was just $10 has again predicted that in 10 years time, the value of one bitcoin would swell to $100,000. Don't know how true these predictions would turn out this time.
The Abby Joseph Cohen rule of investing: Famous analysts are never right twice in a row... "She is famous for predicting the bull market of the 1990s early in the decade, and was named Institutional Investor's top strategist in 1998 and 1999. However, she developed a reputation as a so-called "perma-bull", receiving criticism for continued bullish predictions after March 2000 as the stock market entered a dramatic decline. Her reputation was further damaged when she failed to foresee the great Bear Market of 2008. In December 2007, she predicted the S&P 500 index would rally to 1,675 in 2008, the most optimistic of 14 Wall Street forecasters. "
https://www.reuters.com/article/us-coinbase-fundraising-idUSKBN18T2XD Bitcoin exchange Coinbase seeks new funds at $1 billion valuation: Wall Street Journal FILE PHOTO: A Bitcoin (virtual currency) paper wallet with QR codes and a coin are seen in an illustration picture taken in Paris, France May 27, 2015. REUTERS/Benoit Tessier/File Photo FILE PHOTO: A Bitcoin (virtual currency) paper wallet with QR codes and a coin are seen in an illustration picture taken in Paris, France May 27, 2015. REUTERS/Benoit Tessier/File Photo Bitcoin exchange Coinbase Inc is in talks with potential investors on a new round of funding at a valuation of more than $1 billion, the Wall Street Journal reported on Friday. It is not clear which investors are committing to the round, which was described as targeting around $100 million or more, the Journal reported, citing people familiar with the matter. (on.wsj.com/2rtMkk8) That would represent the biggest funding round on record for venture-backed bitcoin companies, the report said. A Coinbase spokesman declined to comment when contacted by Reuters. Coinbase, the world's largest bitcoin company, has seen heavy traffic and trading on its platform in recent weeks as bitcoin reached all-time highs. Demand for crypto-assets has soared with the creation of new tokens to raise funding for start-ups using blockchain technology. Coinbase said in January it raised $75 million from several major financial institutions including the New York Stock Exchange, USAA Bank and Spanish banking group BBVA. (reut.rs/2qKUcRm) Earlier this year, Coinbase received a virtual currency and money transmitter license from the New York Department of Financial Services. (Reporting by Bhanu Pratap in Bengaluru; Editing by Sai Sachin Ravikumar)
Bitcoin architecture has reached certain limits. Many articles about this in last few days. Transactions take several days to confirm and fees increased. But bitcoin speculation and frenzy along with high volatility should not be viewed as unique to this cryptocurrency.An article shows some similarities of bitcoin with tech stocks in the past that now have recovered any trade at huge multiples. I would say that future bitcoin value will depend on whether the major holders are willing to push it higher.