I predicted on here years ago that when you can buy Bitcoins with a normal brokerage, bitcoin would surge to $10K. Now up at $8K we get news that BTC will be listed on CME? I dont know what to make of it now that we are already up here. Then the price moves just 10%? I guess insider knowledge of this is what was fueling the rally all along.
Unfortunately the culture of hoarding (hodling) means we are suffering a paucity of coins. Suggest you revise your prediction upwards.
personally i think this is the last strong bull phase for bitcoin. certainly at the moment to buy at 8250 and hope for a 5% rise. Remember the last bubble, same people saying the same things.
There are lots of other cryptos that do the same thing better, with more features, faster. Some have genuine worth and serve an actual purpose. This bubble IMHO is about to pop. and lots of new bag holders will be born waiting for months / years for bitcoin to return to where it is. last peak was Dec 2013, 4 years later here we are. usually the time between bubbles / peaks is roughly 4 times longer each time. so we could be looking at 16 years. In that time im sure bitcoin will not be number 1 any longer.
Holy fuck... you are coming off as either extremely negative or a troll who is painting a kind of lesser likely and worse case scenario.
I will give it to you that we are experiencing a quite exorbitant BTC price rise, especially when we look at the past two years and the increasing steepness of the curve in recent months.... however, in the end, I don't think that we have quite reached the top, until perhaps if we have a blow-off event, and part of my thinking is attributed to the ongoing recent investments into bitcoin including financial instruments and also bitcoin's seeming dominance / resilience over the recent forkening attempts.
Also, sometimes we cannot really appreciate what has happened until we look at it in retrospect and hopefully attempt to account for the most relevant and material factors, including the quickness in which the price has risen and including the extent to which there has been meaningful price corrections in the upwards journey process.
Maybe we can agree to some history, including the fact that bitcoin experienced nearly a two year bear run in 2014 and 2015 - and confirmed to be out of the bear run in about May/June 2016....
Once bitcoin was out of the bear run (transitioned into a bull run), we can still use the approximate $250 price stability point of 2015 as our starting reference. Accordingly, it took about a year to triple to $750-ish, and then it took about 9 more months to triple again to $2,500-ish.. .and then it took about 3 months to triple again to $7,500-ish....
Since we are currently in the $7,500-ish price territory it is not easy to determine if this is a stability point, but I suspect that we could achieve at least one more decent blow-off - upwards, and in part I attributed that upwards likelihood to news points that I already mentioned above (namely entrance of additional traditional financial instruments into bitcoin and bitcoin's resilience/dominance in the forkening threats). Another significant factor remains bitcoin's recent experience of two significant price corrections, which cause additional upwards fuel. The mid-September correction was clearly and unambiguously 40% from $4,980 to $2,970, and the second correction from a couple weeks ago was clearly and unambiguously 30% from $7,888 to $5555.55......
My point is that we have decent room for another blow-off upwards, and we could get another 3x upwards price from here, and depending upon how quickly it goes up and whether there are corrections along the way could justify the extent to which there will be a crash and the extent to which any such speculated crash will be sustained... so for example, if we shoot up an additional 3x from here without a correction, then yeah, we could thereafter experience a quite considerable and sustained correction.. but it is yet to be seen and determined how quickly we are going up (if so), and since the probabilities of UP seem greater than the probabilities DOWN, we have to witness these first before we speculate too hot and heavily about our desires for down (because it seems to premature to conclude that we are currently over-inflated based on factors that I already have described in this post).
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