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Bitcoin could reach $100K by 2023 - Fidelity's Jurrien Timmer

Oct. 13, 2021 11:12 AM ETBitcoin USD (BTC-USD)By: Brian Stewart, SA News Editor86 Comments

Digitized Bitcoin Symbol

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  • Jurrien Timmer, director of global macro at Fidelity Investments, predicted Wednesday that Bitcoin (BTC-USD) could reach $100K by 2023, saying that his supply and demand models for the crypto intersect at that level.
  • In an

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Comments (86)

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Out of curiosity, can I take a 30-YEAR LOAN in bitcoin? What is APY?
Livegood3 profile picture
@orzel2017 I know Nexo allows borrowing loans off crypto you own at a rate of 6.9% ...not sure what it would be from an official mortgage company tho.

And I found this article

People laughed at me when I brought Bitcoin at $173.... lol...
2023..??? Lol...
$100000 this year $0 in 2023
@apineda7000: You should short it then, you're gonna make a killing while I lose it all.
No it will go up and down first.
Why 2023?
Turre profile picture
Bitcoin could reach one million soon. Or it could be zero 🤷‍♂️
Deebeeng profile picture
@Turre Sounds like SPY
Diesel profile picture
Could? More like will.
crrj profile picture
Thank you crypto-mining! And thank you CHINA for banning crypto mining in China--Now, the US is the largest crypto miner-----but psst---Crypto mining requires MASSIVE electricity.

No worries---US Nat-gas can be piped into your local Utility company and there are no truckers required--- KMI has the largest nat-gas pipelines in the US---so GO CRYPTO MINING! US fossil just got brand new fossil demand larger than the almost 181 countries alone!

Go US nat gas! Freedom gas

Let's go Brandon!
GR Value profile picture
Market looks like it's going to keep bobbing from 430 to 436 until fundamentals force a breach of 425. It's moving so slowly that's for sure. I basically expect that. But fundamentally in my eyes this is a 3000 fair value market.
Unlike the Boomer recalcitrance of Dimon, this is a reasonable and clear-headed assessment of BTC. Although I'm thinking that $100k by 2023 is a rather conservative price target. It's likely we breach that level by year's end. By 2023, on the eve of the next halving, I'd expect us to be aiming at significantly higher levels than $100k. But only time will tell.
GR Value profile picture
@Aaron173 The higher it peaks the more it will implode and bring down other forced sales. Personally I'd be happy to see this scam hit even 200k. Nothing like watching 3 trillion fake dollars implode in a week one day.
@GR Value Just like every other "implosion" since inception. Higher highs, higher lows, long-term uptrend. I bet *this* time we'll get our comeuppance, huh?

It always works like this: BTC peaks. Then it corrects. You guys pat yourselves on the back and say "told ya so", declaring BTC dead. I start accumulating after the volatility stabilizes and volume plummets. It then explodes parabolically upward again, beating the returns on your portfolio by light years. You stand there powerless as it blasts to new all-time highs. I lock in life-changing profits, as you desperately wish the price lower. Then we run this...exact...same...cycle. Again. It's so predictable that it's boring at this point.

I can't wait to have this discussion again in two more years after this bull market corrects and the next one is in full swing. I'll pencil it into my calendar, and we can meet up to compare notes.
[Bitcoin could reach $100K by 2023, recent move isn't driven by momentum - Fidelity analyst]

It looks like super easy money, better than those growing on trees.

Even air is made of something: nitrogen and oxygen. But crypto "money" can be made out of nothing.
@orzel2017 just like dollars. Made up out of thin air. A few keystrokes at the Fed and the Treasury and BOOM. Magical dollars from heaven. They don't even have to run a physical printing press anymore.

Well you have convinced me--bitCoin it is

I'll bet my money on the BitCoin Pog
Somebody bet on the Dog.
@orzel2017: "crypto "money" can be made out of nothing." No it can't. Why don't you create a single bitcoin? If you can make bitcoin from nothing you'll soon be very very rich. But you can't. You have been good though at parading your ignorance: I salute you!
aircrewmanmurphy profile picture
just follow "new wallets" added
The stock to flow model shows the same thing just slightly sooner. According to that model we over due for a shot towards $100k were it will stay around until the next halving.
Livegood3 profile picture
Adoption is happening much faster than predicted. In THIS YEAR, cars could be bought, homes could be bought, movie tickets can be bought, multiple countries consider bitcoin for legal tender with one of them being the 9th largest economy in the world. Multiple ETFs are approved in other parts of the world like Canada, Brazil, middle east. The history of Bitcoin being the greatest investment of the past 12 years has not disappointed this year, up well over 300%. ...and over 200% a year average for the past 12 years. Institutional investors were able to jump in. The ever dwindling available supply. Lots and lots of catalyst to drive Bitcoin much higher..Lets see what year end looks like. Plan B has been spot on so far with his projections...lets see if his $100 - $135k by year end hits the mark.
@Livegood3 I don't know how anyone would want to accept Bitcoin right now for a big purchase item like a car. Take price last night 56k this early this morning dropped to 54k now it is climbing back up to 56k. That's a pretty big change for someone accepting Bitcoin for a 50k car.
I don't get this "rapid adoption" argument. What is being adopted is block chain technology--not BitCoin as a currency or store of value.

Bitcoin is just like Social Security--without the government mandate and protection. Its a stream of money going in--and eventually people who own it--try to spend it. Like with Ponzi and Madoff--eventually the people who want to spend it, if timed properly, will take more out than they put in. Unfortunately, a lot of people will end up with less than they put in--because they stayed too long at the party. Its a zero sum game--emphasis on game (and zero, for some).
@Livegood3 wow sounds like my local stop & shop grocery should accept Bitcoin based on what you're suggesting but if I go ask them they look at me like i'm crazy.
BitCoin--Hopium of the masses.
stv-o profile picture
@eddy6 Watch Gary Gensler’s classes for MIT graduate students 1-2 yrs ago, on youtube, and you’ll understand, that it is an incredible invention as an alternative currency.

Gold was valued in ounces--Bitcoin is valued in DOLLARS--what does that tell you?

not an "alternative currency"--just a collectible.
Nicholas Southwick Levis profile picture
I could have a 30 inch _______
Deebeeng profile picture
or rational thought
Appears algos are programmed to increase "price" based on unmined bitcoin with hourly price change by random number generator. Unregulated market without transparent price discovery = attractive scam to suck in newbos. Actually has no intrinsic value as a banana republic currency.
Huge buying opportunities today before the minutes drop at 2 pm today, then watch the price rise again.
@King4Coins anyone going to respect the call?
Livegood3 profile picture
@King4Coins Bounce started over 4hrs ago after testing the 30 day EMA on 4hr time frame. Good tech analysis if that's what you were watching


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