Honestly, I hope that you are right.
Problem I see with Bitcoin is that it doesn't have much use. It's a pseudo store of value, as today you might have some money stored away and tomorrow it could very well be gone when you need it. Yes, it's the first of its kind and stands for a lot by way of decentralized finance and currencies, but I feel that it isn't keeping up with the times accordingly.
I honestly see cryptos like Ethereum having more potential than Bitcoin, possibly dethroning it over time. Thing is that there are MANY BTC maxis that will hold on to it for dear life and not jump ship regardless of what happens. I respect that level of conviction, but it can also be very dangerous when it comes to dealing with money. Nothing stays still. Old technology runs its course and new technology takes over.
Nonetheless, I want BTC to succeed as I believe it stands for a lot more than just crypto. It represents freedom from the centralized banking system that has kept humanity enslaved for centuries.
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BTC is absolutely a store of value, pristine SOV. To develop that level of conviction comes with time in the market, ebs and flows of both emotion and value. I still have my coins purchased at 200$. The last dip of 50% saw 22% of coins from cold storage become liquid. 78% of those coins were hodled, that tells me........yes the market is volatile and irrational at times. If you cant handle at 50% dip, then you dont deserve the 200% gain. This is the wild west of a new technology that is sweeping the monetary system and the way we bank ourselves. It is not a straight line up. BTC is and will always be king daddy of the wild west, 4000+ shitcoins have been created to rival BTC and still nothing? The whole ETH flipping had much more noise to it in 2017/2018. Not so much this time around, just seems that way to newcomers.
BTC is not money, store of value. We have lightning network protocols and taproot being activated in November which adds another layer. Shit, I can send 30mil in btc right now to GIB via lightning protocol for a fee of .01cents and receive it instantaneously.........
or standard route and pay a fee of 15$ and wait 10minutes.
ETH surpassing BTC in market cap? Ill run some numbers, perhaps Mayday can confirm. He has a firmer grasp of the market when it comes to tracking Store of value assets such as equities, bonds, real estate, gold.
Lets play it conservative. When big money is dropped into the market, say 1billion, the market cap moves by a factor of 20x. 20billion,
When these trad stores of value start to redistribute their treasuries into BTC, what happens to the price given set limit of 21million coins, 18 which have been mined, 4million which have been lost, 1million locked up in Satoshis wallet never to be moved. We have 14 million active coins on the market.
Lets redistribute;
Gold 12T 20% flow into btc 2.4T
Bonds 120T 10% 12T
Equities 100T 1% 1T
RE 200T 1% 2T
Total 17.4T into BTC
Market cap today is under 1 Trillion.
17.4T X 20 = 348T
348T/14million BTC = 24,857.142
Price per BTC = $24,856,142
This is a forecast for the next 5-10 years with what I consider conservative numbers. Hell, you can even consider 50-75% reduction in Capital flowing into the BTC space and would still see a price point of 5million(my prediction) by 2030. These are the benefits of digital scarcity on an open network.
