Bitcoin forecast: price development 5,000 euros, 10,000 euros or even 500,000 euros?
Bitcoin course development: Is the one-time bitcoin (BTC) still worthwhile or are we faced with a huge crypt-curiosity bubble?
foto: coinbase. com Chart 099. 09. 2017
Bitcoin's popularity is growing steadily, as well as the market definition and, above all, the price of Bitcoin. If a Bitcoin cost a US dollar in 2011, the 5.000 dollar mark in September 2017 was only just missed. But there are no limits for the Bitcoin price and what are the reasons for the rapid course development?
Bitcoin forecast: 5. 000 Euro, 10. 000 Euro or even 500. 000 Euro?
- Bitcoin buy
- Bitcoin prognosis: How does it continue with Bitcoin?
- Bitcoin scaling problem
- Bitcoin is limited
- Blockchain: The revolutionary invention of the Bitcoin system Bitcoin mining: Is bitcoin mining worthwhile?
- Bitcoin development
- Conclusion: Our forecast for the Bitcoin
- Bitcoin forecast: 5. 000 euros, 10. 000 euros or even 500,000 euros?
5th 000 US Dollars in 2017 The forecast that the Bitcoin will exceed the US $ 5,000 mark in 2017 does not seem really unrealistic anymore. However, the forecast was already set at the beginning of 2017, when the Bitcoin stood at 1 000 US Dollar. At that time, it was hard to imagine that the BTC price could quintuple within a year. At the beginning of September, Bitcoin almost reached the $ 5,000 mark, prompting a consolidation phase that ended at about $ 4,000.
100th 000 US Dollar in 2022 The currency investor Dennis Porto reported against the "business insider" that the bitcoin price could rise to 100,000 USD within 5 years. How does it come to this? For the purpose of calculation, it used the Mooresche law, which was originally designed for the computing power of computer chips, but has now been applied to nearly every digital technology.The law says that the computing power doubles every two years. Porto used Moo's law for bitcoin and was able to show that this also applies to the bitcoin price. Since Bitcoin, according to Porto, the crypt has doubled its price every eight months.
// www. businessinsider. de / bitcoin could-in-five-years-to-100,000-dollar-rose-2017-8 500th 000 US Dollar in 2020 This forecast is made by the famous IT security expert and software producer John McAfee. Of course this very bullish course development of Bitcoin was controversially discussed. We believe that McAfee has made this very optimistic stock market forecast to polarize.
// www. newsbtc. com / 2017/07/18 / john-mcafee-claims-one-bitcoin-will-worth-us500000-three-years Bitcoin can buy bitcoin, similar to euro or US dollars, on stock exchanges, exchanges, but also with other users. As there are countless providers, marketplaces and dealers, we have tested some and presented the best suppliers for the German market.
To the experience report: Safe Bitcoin (BTC) with Euro buy or act.
Bitcoin prognosis: How does Bitcoin continue?
Photo: © "ulchik74 - Fotolia"
No one can predict how the bitcoin will continue and how the course will look in the coming days, months or years. Many warn of a bitcoin bubble, caused by the sharp rise in the spring of 2017. Bundesbank board member Carl-Ludwig Thiele warned in the meantime in July 2017 that Bitcoin is "a speculative object" and not suitable for the non-institutional investors.
Of course, many investors are increasing because of the opportunity to make quick money, but for many, Bitcoin has a lot more: a decentralized currency that is geared to the future of a digital world. And this is also recognized by more and more currencies. In April 2017, Japan accepted Bitcoin as an official payment. More and more European governments are opening up cryptos and seeing bitcoin as currency, equated with classic FIAT currencies. And the combination of greater acceptance in politics and business, as well as further digitalization, could help Bitcoin to rise and use the world's most widely used means of payment. Bitcoin scaling problem
Bitcoin is not only a speculative object, but can really establish itself as a full-value currency and thus as a central, global payment system, in addition to political hurdles, technical problems have to be solved.
A big problem, which Bitcoin still possesses and has already been solved by other cryptorries, is the scaling problem. If bitcoin is to be used as what the inventor Satoshi Nakamoto described in 2008, Bitcoin as a global payment tool, then too few transactions can be transmitted simultaneously over the Bitcoin network.
Photo: © "blockchain. Info"
As more and more transactions are made through the Bitcoin network, the cost per transaction is increasing continuously:
Photo: © "blockchain more people want to use Bitcoin, the smaller the real advantages of Bitcoin. Through Bitcoin, money transfers should be carried out within seconds or minutes, and at extremely low transaction costs. This would sometimes be the main advantages compared to traditional payment transactions via banks. But exactly the fact that more people use Bitcoin as a means of payment leads to the two disadvantages:
Long transaction time
High transaction fees
Exactly the points that Satoshi Nakamoto wanted to fix with Bitcoin. In August 2017, SegWit was activated in the bitcoin code. In this way the Bitcoin developers hope for a slimming down of the blockchain, so that more transactions are taken, on the other hand it makes the way clear for the so-called Lightning network. With this technology, off-chain transactions between two people are likely to be possible in almost no transaction costs in a matter of seconds.
Some advantages of the Lightning network:
Quick payments: Payments within an established channel are transmitted in seconds.
No third party required: No third place is required to confirm payments between two persons. Bitcoin transactions are directly peer-to-peer (P2P).
Reduced blockchain load: To open a new P2P channel, close a P2P channel, and partially to fraud prevention, the bitcoin blockchain is still required.
We assume that Bitcoin's scaling problems can be resolved, for example through the Lightning network, the value of Bitcoin will increase significantly.
Bitcoin is limited
A big advantage of Bitcoin is that there is a finite amount of Bitcoin. While FIAT currencies are printing immense amounts of fresh money by the central banks, this is not exactly the case with Bitcoin. The Bitcoin-Miner process is called "Mining." Bitcoin-Miner calculates complex mathematical algorithms with a particular software The number of bitcoins per block is halved after every 210,000, but the number of bitcoins per block is halved after all 210,000 Which is referred to as the Bitcoin Block Reward Halving or even Bitcoin Halving. After the introduction of Bitcoin in 2009, the first halving took place from 50 to 25 BTC per block in November 2012. Photo: © "ulchik74 - Fotolia"
The amount of bitcoins available is limited. The amount of "hidden" bitcoins is limited: The maximum total number of bitcoins in circulation is <20>.999. 999, 9769
- , so that just under 21 million bitcoins are available.
- Thus the amount of newly generated bitcoin is limited. This means that no new bitcoins can be found any more. The last bitcoin block from which new coins ("Coins") can be generated is to be generated around the year 2130. Then the total number of the bitcoins in circulation will remain at 20. 999. 999, 9769, thus almost 21 million bitcoins will be available.
30 million millionaires, but only 21 million Bitcoins
Currently, there are just over 30 million millionaires in this world ("Dollar Millionaire"). If each of these millionaires wants only one bitcoin, the amount of maximum available bitcoin is not sufficient. And exactly this situation can push the bitcoin price into the heights. Because the more demand for Bitcoin exists, the more expensive a Bitcoin, because the range of available Bitcoin is limited. Blockchain: the revolutionary invention of the Bitcoin system Photo: © "bitcoinmag. De"
- Experts see in the blockchain probably the most important technological invention of the bitcoin system. In principle, the blockchain can also be called the heart of the Bitcoin universe, because without it, the Bitcoin system would not work.
- The prerequisite for this is that the transactions of the past can be kept counterfeit-proof. To this end, the account balances and all transactions are stored in the blockchain. This is processed, backed up and used by a large network of computers, and the corresponding data is provided to the users. In this way it is always possible to understand what has happened in the past. However, the financial and insurance industry sees the blockchain rather separate from the bitcoins, which can be further innovative applications from the blockchain technology. Photo: © "© arrow - Fotolia.com"
- The idea of blockchain is becoming more and more frequently taken up and further developed. New cryptos such as
attack the idea of the blockchain and further develop it. These currencies are often referred to as bitcoin 2. 0, 3. 0 or even 4. 0. But why should one rely on Bitcoin, if other cryptos are already using better technologies? The answer is relatively simple: Bitcoin was the first crypt diet on the market and could thus achieve the greatest market acceptance! Of course, this is no guarantee for future success, but Bitcoin is also developing. And when in the mass media of cryptic diseases, in most cases only Bitcoin is reported. However, other cryptic stimuli should also be observed. Our recommendation: Never put on a horse!
Bitcoin Mining: Is Bitcoin Mining Worth It?
Even after Bitcoins is a tough business. Not only ensuring the smooth operation of the mining equipment and good know-how for the appropriate mining hardware are also required, but also a good economic understanding in order to generate profit with bitcoin mining. In addition, the question arises of taxation, which we will discuss in a separate article. This is why it is becoming increasingly unattractive to run its own Bitcoin Miner: Cloud Mining comes into play. Make Money with Bitcoins: Is Bitcoin Worth Mining? Bitcoin development In the meantime, bitcoin is on everyone's lips, especially due to the rapid increase in the last few months, more and more is reported in the media via Bitcoin. Some report a major revolution in the financial world, others warn of a bubble or even a snowball system. The Birth The birth of Bitcoin was however already in 2008 and 2009 the first Bitcoin network emerged. Here the still young currency of the economic world was scarcely noticed and as a gimmick of computerfreaks and hackers stamped. Bitcoin could be bought for under $ 10, if you had the chance to get Bitcoin. Because as there were no stock exchanges or bitcoin-providers at that time, the exchange trade via forums, e-mail communication and personal meetings took place: Not really practical for the broad masses and associated with great risks. Bitcoin & Darknet
With the increasing popularity, in particular by an increase in the price, an ever larger Bitcoin ecosystem arose. First exchange exchanges were created, so it was easier to exchange Bitcoin against US dollars or other FIAT currencies. However, bitcoin was increasingly used by the alleged anonymity of cryptowogy for rather dubious or even illegal transactions. Bitcoin and Darknet were often used in one sentence. On illegal marketplaces, similar to Ebay, drugs or weapons could be purchased for some Bitcoins. As demand grew in these marketplaces, the price of bitcoin developed accordingly. "With the rising price came also the investors and speculators, that is, those who do not use the Bitcoin as an anonymous payment in the Darknet, but who wanted to participate in the innovation and growing return of digital gold. If Bitcoin traded for $ 1 in April 2011, nearly $ 900 had already been paid in the spring of 2014. Within 5 years, the bitoin value had almost 10,000-fold! With a 100 euro bet you would have been millionaire after 5 years.
Mt. Gox: Bitcoin Hack With the fall of Mt. Gox in 2014, the golden age of the young currency stopped abruptly. At that time, the largest trading center for Bitcoin,60% of the world's Bitcoin trading volume, had to file for insolvency in spring. By a hack were 650. 000 Bitcoin disappeared, assuming that only a small part of it was really stolen by a hack, most were underlined by insiders. The fall of Mt. Gox destroyed the recently built confidence in the digital currency, which has led many investors to withdraw from Bitcoin. Today: Bitcoin-Ralley in 2017
In the years that followed, an ever-growing bitcoin ecosystem arose, more and more companies, especially young startups, are working with Bitcoin. In addition, the idea of the blockchain was taken up, as a result of which further cryptic developments arose and, alongside Bitcoin, secured their place in the new digital world of currency. In 2016, the second bitcoin wave then fired. Within a year, the Bitcoin price doubled, so that in early 2017 for the first time again after 3 years for a Bitcoin over 1. 000 US dollar had to be paid. The fall of Mt. Gox was finally digested. This triggered a regular bitcoin rally that quadrupled the value of a bitcoin within 6 months.
Conclusion: Our forecast for the Bitcoin
Disclaimer: Obviously we are positive about the new digital currencies magazine about Bitcoin and crypto currencies - and invest in Bitcoin & Co. Nevertheless, we try all the advantages and disadvantages and to make a realistic estimate from our point of view. The success of Bitcoin - or other cryptic stimuli - is dependent on almost infinitely many factors. We believe that the market for digital currencies is huge and will grow rapidly in the next one to two years. Of course, the corresponding events, in particular political acceptance, must also be present.
Predicting that the Bitcoin price breaks through the 100,000 euro mark in three years is pure speculation. However, the current Bitcoin rally teaches that nothing is impossible and a quadrupling of the price within six months is even realistic.
Nevertheless, we would like to explicitly warn again that an invest in bitcoin and cryptan is currently extremely speculative. Because the current rally to the north can turn around in a few seconds and go in the opposite direction. Bitcoin is a very volatile currency and an investment in Bitcoin can lead to the total loss of capital employed.
Forecast Ethereum: Is Ethereum Getting Started?
Photo: © "coinbase.com Screenshot" In the last few months, Bitcoin's second most popular crypto-diet after market capitalization went up. After a rapid rise in the currency from 10 euros to just under 350 euros per ethereum within less than six months, the downward journey followed 176 euros in mid-July. How is the Ethereum cryptography going and what is the course development?