Looking at the past couple bubbles, the lowest point is always higher than the previous ATH. Since current ATH is around 1200, that's the lowest it will go to next time. Which means the high must be considerably higher. 5k is my conservative estimate, but with an ever increasing amount of attention from big money there really is no telling how high it could go this time.
That's true. But markets can often be self-defeating prophecies. If "everybody knows" this is what's going to happen, chances are much higher that it won't. Just like nature abhors a vacuum, markets abhor predictability.
I remember last year as we broke out of the downtrend, much of the forum was still in denial, thinking that it was a big bull trap, even at $140. Now this year everyone has bitcoin trading 'down pat' and seems to know that we're back in a bull market heading towards the next big rally - perhaps this actually means we're heading for impending doom instead.
