So, there is a lot of crazy going on out there in the crypto world. Other than McAfee talking about a 1 million dollar bitcoin, others have mentioned it in passing as well.
It sounds insane.
Insane.
However, I was doing some basic calculations and I came up with a math figure from the last two halvings.
If my numbers are correct from the first two halvings, BTC's increase from the upcoming halving could raise its price to 1 million if it follows past trends of tremendous uptick.
Now of course this sounds ridiculous, because it would stand to make anyone who owns any bitcoin a millionaire, and those who already own lots of it, billionaires. Though I doubt anyone ever fathomed a coin that was worthless ten years ago to be worth almost 9k per coin now, and having peaked at nearly 20k.
It reminds me of that scene from Austin Powers where Dr. Evil goes back in time and demands 100 billion dollars, and the president and his staff laugh and laugh because that much money sounds made up. That's what this feels like.
I'm not sure if Steem stands to rally in the same way Bitcoin will or if it will follow it closely like it did back in 2017 a year or so after the second halving, but just say it did.
It would then be plausible given certain conditions, that Steem could shoot up 117 times what it is worth now, which is the basic projection that crypto analysts are using to get to the 1 million marker. That would put Steem at roughly $18 which I think is a fairly conservative estimate considering its peak at the last halving.
It is all very exciting to see what exactly is going to happen. I know a few economists who plan to short the DOW, so it is becoming more and more evident to me that people feel a huge crash is coming. I always expected that would be good news for crypto, and it would appear on track for that. Crypto seems to be gaining momentum, drawing interest and breaking barriers, which all spells out good news for my investments.
I also think its complexity has made people shy away from investment and left the playing field more open with fewer players. When all the cryptos rise again however, I expect many more people will join the game, which might push the price of BTC to numbers never imagined.
Do you think Steem could hit 18? 25? 50? 100? I think it could def go places and I am super stoked to see where my crypto journey is going to take me!
TTFN!
xx - Lady Steem