Whether the firm base for new records of capitalization is ready now?
11 month bottom of $5,800 is holding well
3 month bottom of $6100 is holding well
its been tested multiple times and held.
the majority of coin movements in the 11 months have gained a individual value above it,
mining costs are currently above it.
but its too soon to move the milestone above $5,800 as the retests and mining cost threshold and majority holding coins that they didnt hold 1day-11 months ago is fresh
its normally best to wait 3-4 retests of a bottom. where its an obvious retest and not just normal daily/weekly waves
but with that said.. the underlying baseline value is healthier then previous years. and there is nothing wrong with a bit of speculation ontop (current mid $6k prices), its just too early to call anything in the $6k range as a baseline. as not enough coins have shifted hands to give a majority value in the $6k range,
but still
2016 above $300
2017 above $900
2018 above $5800
Those numbers only shows how strong the support of bitcoin is. Even if FUD is circulating online about the currency still it remained strong and slowly recovering from its losses few months back.
I just don't understand why there are some individuals who claim to be experts predicting wrong values or exaggerated values which will result to some new comers to lose huge percentage of there hard earned money, worst their whole retirement.
That is why we need to research and understand how this volatile market works before we put our money into it. For those predictions might just be a trap for everyone else.
Those predictions may be realized 3-5 years from now given the increase of difficulty in mining bitcoin.
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