In my understanding,usage and research in cryptocurrencies, Bitcoin can be never be used in daily transactions due to various technical and fundamental reasons and especially at the current conditions of Bitcoin.
There are thousands of other cryptos are there now and at least a bunch of them are far better than Bitcoin in terms of daily usage and much better than even fiat currencies if they will be implemented properly for daily usage.
Bitcoin price is not driven by and will not be driven by daily transactions or even speculations from small buyers and sellers. The main and massive driving force is due to 3 reasons:
1.ICO(Initial coin offering) funding using Bitcoin and number of ICOs will increase rapidly in coming years and hence, Bitcoin usage will be increased as well
2.Institutional investors using Bitcoin as a store of value as a replacement to gold, stocks, bonds, real estate, currencies etc.So all the trillions of USD from these markets will slowly start flowing into Bitcoin and of course, other cryptos as well. But Bitcoin will definitely be the first option due to it's high value and small limited supply of 16 MILLION BTC total.
3.Sudden country wide adoption, usage and conversion of a specific country's currency to Bitcoin due to financial insecurity. Whenever one country joins Bitcoin, one big price move happens. What a bunch of hundred people or thousand people will do may create a temporary impact on Bitcoin, but will have no impact at all on the overall Bitcoin price in long run.
Yes, 1 MILLION USD per BTC by 2018 is a big optimistic target from me. But I am sure for the Bitcoin to reach at least 200K by 2018.
The reason I am optimistic for 1 MILLION USD per BTC by 2018 is because BITCOIN to reach 1 MILLION USD per BTC is 100% sure and it may take a couple of years from today, but every time Bitcoin price has outperformed my expectations in terms of time and 200K per BTC is a calculated value of BTC by 2018. But 1 MILLION per BTC is my expectations. Let's see what happens.
Artificial General Intelligence