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illyiller
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November 27, 2017, 09:04:26 PM
 #21

I still think we are seeing a pump that has no explanation, so making a bitcoin investment would be very sketchy too me. Does anyone think that a price correction would be unreasonable? Or do you think it is over evaluated right now

We are in the midst of a hype cycle. Fundamentals were thrown out the window a very long time ago; they simply do not matter. All that matters right now is raging investor demand for BTC vs. low supply on exchanges. The context is a blow-off top, and a massive correction (50% or more) will definitely happen. The question is, when? Before $10,000, or after?

Based on the last two legs of the rally, I suspect we will hit $12,000-13,000 before a major correction. Whether that will be "the top" depends on what kind of volume we see and whether a typical blow-off develops.
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November 27, 2017, 11:54:01 PM
 #22

with institutional money flowing into the market, I see bitcoin surging easily to $12K then maybe we will see some correction coming back to $10K or below. Then head towards $18K by the end of next year!
Institutional money is a game changer with it the price bitcoin can reach is almost unlimited that is not going to happen in the next day but the next 10 years are going to be very interesting since it is obvious that investors are finally acknowledging bitcoin and while their motives are selfish this is going to create the perfect environment for bitcoin to expand and thrive.


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