Michael Saylor stated that people buy Bitcoin at the price they deserve. Just a few days ago, Adam Back made a bet on Twitter that Bitcoin would reach $100,000 by March 31st, 2024. Here's a concern I have, do you think the predicted increases in Bitcoin's price to $100,000, $200,000, $500,000, etc. will limit its global adoption? Since the price will be so high, the average person might not be able to afford a substantial amount of it. As a result, they might seek alternatives, potentially hindering global adoption. Could the excessively high price lead people to feel like they missed out, causing them to hold onto seemingly worthless fiat currency?
Over the past, we have seen much of this kind of prediction from influential bodies and top financial advisors, but it always appears not to be happening as we expect it to. Those who predict the price are not going to actually use their hands in making it happen, and we should give much attention to such predictions, as higher expectations can give us an expected disappointment.
There could be possibilities for bitcoin to break its all-time high in the coming year, which is 2024, but when we can see that new ATH, I really don't think anyone can give an exact date of that, so until that happens, we should just have a lower expectation, assuming everyone was taking the prediction of Ark Invest, led by Cathie Wood, that a million dollars was made and people rushed to accumulate more than they planned to with the hope of getting a lot of profit. What do you think would have happened to many?