1) Minimum $80k. Maximum $500k. Likely $350k.

2) Depends on how high the top goes. Minimum $20k. Maximum $120K. Likely $60k-$80k.

It rose past $30k because it is in a bull run driven partially by last year's halving and partially by institutional investment.
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The reason for it plummeting when overextended in a bubble varies.

In 2011 it was MtGox being hacked.

In 2013-4 it was rumors of China banning Bitcoin, combined with MtGox imploding.

In 2017-8 it was simply a matter of over-extension.

In 2020 it was Covid-19 which also crashed most of the other markets.

That was the last time it plummeted. What happened a few days ago wasn't a plummet. It was a little correction which, as we saw, didn't last long.
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My advice to you is to hold your Bitcoin steadfastly, resist panicking if the price goes down, and wait at least 5 years.

If you want to gamble your money by day trading, don't be surprised if you lose it.

Nonsense. The price tripled in January 2011, rose by over 50% in Jan 2013, and rose over 33% last January.

It has never fallen by that much in any January.

Good morning Bitcoinland.

Back in the groove again with another ATH ($35879 Stamp) and another nice little $2k correction to keep things honest... currently $34806USD/$44115CAD (Bitcoinaverage).

2021 is barely begun. Get used to this.

Sure we may see a much larger correction later in the winter or early spring (N. hemisphere) but that will just set the stage for the even greater rally in the autumn.

Go Bitcoin go.

You forgot to recommend keeping all your keys in an online wallet service and always selling if the price falls by more than 50%. Altcoins and trading rulezzz!!!!

Yep. Early 2013.

I was still learning about dual-key cryptography and hashing and trying to figure if Bitcoin was a scam or not.

By the time I figured it wasn't, it was already over $30.

Pit stop over and re-accelerating.

At least we Canucks are back up to speed.

That's so 2013. Get with the 2017 vibe.

Carolina Country Music Fest
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I can't believe we went all the way from under $30k to $34.5k in a day and couldn't quite hit a new ATH.

Stay clear of altcoins. Real Bitcoin is the least risky and has the greatest potential for large gains.

Just don't buy more than you can afford to hold for 5 years.

Thanks. Great idea for Day of the Dead.

Yep.

He's just some TV/internet doofus. He has no real-world credibility.

 

And some see Bitcoin wealthy retirement. 

The bear trap has snapped completely shut... back up over $34k and close to another ATH.

What we saw was a great opportunity (maybe the last?) to buy under $30k.

Pity anyone foolish enough to sell.

Some see the trees. Others see the forest. Yet others see the lake.

And then some simply see the beauty of the whole.

Nothing grows like Bitcoin does, but real estate does pretty well on the whole. As Mark Twain said, "Buy land, they don't make it any more".

Not only can you stand/eat/sleep/build on it, you can rent it out as a revenue source.

Its only drawback is if you incur debt to buy it. Pay cash or Bitcoin, and that's not a problem.

Don't think of it as selling Bitcoin. Think of it as buying real estate.

You're just spending a small amount of your Bitcoin profits.

What's the point of earning if you don't enjoy spending a little?

Good morning Bitcoinland.

One day of consolidation sideways so far after yesterday's big correction... currently $32188USD/$41088CAD (Bitcoin average).

A welcome breather before the continued onslaught of ATHs.

(Moderately) slow and steady wins the race.

Go Bitcoin go.


What if 31xxx is the new 23K ?
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I keep typoing "Biycoin" and fixing the "Y".

Maybe I should be changing the first "I" to a "U". 

What I see is a healthy correction after too steep a rise (about $5k in a day), the establishment of new support at the old level of resistance ($30k) and consolidation in the low $3xxxx range.

The only real question is how long this consolidation lasts before continuing the bull run.

Quiet around here. Chartbuddy we miss you.
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Just noticed I finally made got my 2000th merit. Stuck at 1999 for some time. Never begged nor even mentioned being close.

Thanks Philip.