Forbes Article Gets $100 Billion Bitcoin Price Prediction WRONG???

1 30
Avatar for The.Part.Time.Economist
11 months ago

Outrageous cryptocurrency price predictions are nothing new with many people seeking to gain clout and followers by predicting either an extremely high price or, in other cases, predicting that the price of bitcoin will go to zero. While sensationalist cryptocurrency price predictions are both amusing and understandable, we generally expect that more established financial publications will perform their due diligence and offer relatively accurate insight. That's why this recent article by Forbes that mentioned a 100 billion price prediction for BTC caught my eye. This wasn't some average joe making a bold bullish prediction, but a well-respected financial website. If they were reporting a $100 Billion Bitcoin price prediction, it certainly deserved my looked into the article only to find that they had confused the difference between price and market capitalization. Mixups such as these remind us it is always important to do our own research in crypto and fact-check our sources even when they are generally well respected. In today's post, we will cover the difference between market cap and price while also explaining just how hilariously absurd a 100 Billion Bitcoin price prediction would be.

This article is not financial advice, and I would also like to say that this is in no way intended to poke fun at Forbes. Simple errors can be made by anyone, but I do feel that this presents a good teaching point. #crypto #btc #priceprediction

$ 1.23
$ 1.20 from @TheRandomRewarder
$ 0.03 from @Porwest


I think $100 billion would have immediately got me stirred up, so luckily you were able to offer some clarification on that. lol.

Even still, if Bitcoin wants to be the ruler of all currencies, with a world population of 8 billion people and a limited supply of 21 million coins, we may need to see it rise to such numbers or we all might otherwise all be equally poor. lol

$ 0.00
11 months ago