9 reasons Bitcoin could hit $100,000 or more (based on Forbes article)
馃搶Limit to 21 million bitcoins. Having it be harder to mine, along with a limit on how many can be created, makes the supply side come into play.
馃搶Lost keys. In fact, total amount of bitcoins is even less than 21 million. A huge number of CC keys is already lost forever, which also lowers the supply.
馃搶Network effect and media exposure. More and more people learn about cryptocurrencies and enter the market.
馃搶Large investment firms lend credibility. Significant financial institutions wouldn鈥檛 be putting resources and people into CCs if they didn鈥檛 feel they weren鈥檛 viable.
馃搶It鈥檚 getting harder and costlier to mine. If mining costs increase it could slow down how fast new Bitcoins are created which would put a damper on its short-term supply.
馃搶Hoarding of Bitcoins could occur as their owners expect their value to increase. While this could limit the supply of Bitcoins this can occur with any asset.
馃搶Illegal activities. Since Bitcoin users can remain anonymous and can work from anywhere in the world, this could lead to an increase in demand for them least at the margin.
馃搶Bitcoin has started to gain traction with people who live or send money to countries whose governments they don鈥檛 trust such as Zimbabwe or where inflation is very high, for example Venezuela.
馃搶FOMO or Fear of missing out. Investors don鈥檛 want to miss out on the next big thing and to a degree also want bragging rights that they own Bitcoin
Source : https://www.bitcoinisle.com/2018/01/13/9-reasons-bitcoin-could-hit-100000-or-more/
