The Bitcoin price drop that lasted from November of 2013 until the middle of 2015 looks to be over, now that the Bitcoin price is going up. The question most frequently asked to us is, “How high can Bitcoin go?”
As we outlined in Bitcoin price potential, “Considering there are slightly more than 7 billion people in the world, and the absolute limit to the number of Bitcoins that will ever be created is 21 million, that means that if Bitcoin was divided up equally, each person on planet earth would be able to own 3/100ths of one Bitcoin.”
There just are not that many Bitcoins to go around.
We’re extremely confident that the Bitcoin price will continue to go up. Of course, there will be profit-taking episodes now and then, as well as scares meant to create a temporary Bitcoin price drop in order for financial insiders to buy Bitcoin cheaply. That’s just how financial markets function.
Our bottom line: over the long term, the average Bitcoin price will continue to go up.