Bitcoin was up 30% the past week. Long awaiting but finally it has broken through the psychologically important US$500 mark. The price has been stagnating between $400 and $500 in the past month.
Bitcoin price is really volatile but lets hope that this volatility happens over $1.000 really soon.
In the cryptocurrency world everything is around the exchange rates. The segment leaders and the economist are being asked about prediction at all times about the future and expected rates.
Let’s see 8 scenarios and the potential value of one Bitcoin according to those scenarios.
|
Scenario |
Potential value of one bitcoin |
| Hedge funds allocate 1% of Bitcoin 1* | $1.230 |
| Argrentines sell USD cash for Bitcoin 2* | $2.480 |
| Gold holders divest 1% into Bitcoin 3* | $3.500 |
| Bitcoin Replaces remittance market 4* | $6.860 |
| Becomes global E-Commerce currency 5* | $11.500 |
| 25% of black market transactions in Bitcoin 6* | $44.000 |
| Bitcoin replaces reserv currency 7* | $500.000 |
| Bitcoin replaces offshore deposits 8* | $800.000 |
Sources:
1*: http://tinyurl.com/remittance2012 and for volume estimates in
BTC economy: http://blockchain.info/charts
2*: http://tinyurl.com/HFresearch2013
3*: http://tinyurl.com/argentine-USDcash
4*: http://tinyurl.com/GMabovegroundgoldstcok
5*: http://tinyurl.com/worldbank2012remittances
6*: http://tinyurl.com/VOXEUshadowcon and http://tinyurl.com//CIAworldGDP
7*: http://tinyurl.com/ecommerceglobal
8*: http://mises.org/content/nofed/chart.aspx
9*: http://tinyurl.com/HKMAoffshore
Table of content was written by: Tuur Demeester
Source: Ybitcoin Magazine