Bitcoin has started to "target" the level of $47,000 again, but the world is still talking about how much bitcoin will cost in the future. For example, Creek Capital CEO Mark Yusko stated that digital gold will grow to $250,000 over the next 5 years, adding to a collection of crazy predictions. Yusko compared bitcoin to major companies such as Facebook, Amazon, Netflix, and Google, claiming that these companies have reached $1 trillion capitalization more slowly than bitcoin. To be honest, we don't understand how bitcoin can be compared to large companies. Bitcoin is just a piece of code that doesn't do any good on its own, it is a cryptocurrency that was originally created as an alternative to fiat money outside the control of central banks and governments. Companies, on the other hand, are specific assets, production facilities, buildings, real estate, money, assets, goods, intellectual property. That is, everything that, unlike bitcoin, has its own value and cannot fall in price to 0.
Yusko also compared "digital gold" with ordinary gold and said that if all the gold produced in the world is worth about $4 trillion, then bitcoin should also grow to this mark (in terms of capitalization). Thus, each coin will have to be worth about $250,000. It doesn't matter that if 4,000,000,000,000 (dollars) are divided by 21,000,000 (coins), you get the number $190,000. We, in turn, also want to remind you that all forecasts from the category "Bitcoin will cost a million dollars because it is "digital gold" and it is better than Apple shares" are, of course, very interesting, but this does not mean that this will be the case in reality. Recall that it is beneficial for everyone who already owns bitcoin, especially bitcoin whales, if the cryptocurrency continues to grow. And this can only be achieved if the flow of new investors or investments is inexhaustible. Hence, there are regular predictions that bitcoin will cost $ 100,000 or$ 250,000 to attract as many new traders and investors as possible. There are no specific mathematical calculations and analyses in these forecasts.
Technically, bitcoin has completed the upward trend on the 4-hour time frame. The quotes have consolidated below the upward trend line, and, from our point of view, this is a rather powerful signal to continue the downward movement. The bulls are still not strong enough for the growth of bitcoin to continue and the cryptocurrency to renew its highs. At present, Ethereum takes the lead, which just set a new cost record on Monday and, according to experts, is ready to grow to $10,000 per coin.
