~snip~
Why not, well that's only about 7x at today's price, and if we remember 2017 then there was a growth of as much as 20x. Some will not agree that it is the same, because it is easier to get from $1000 to $20 000, but I think it's all just a question of how much money will go to Bitcoin at one time. Models like stock to flow also show a much higher price of $70 000, and all the slightly more serious long term speculators are fairly uniform in their speculations for the period 2021-2023.
I think that's one of my argument, it might take some time and where to get all that money to push the price on that levels in the next year. It
could if institutional money gets into the picture, but I don't think its achievable in 2021, in my opinion.
Of course the pandemic is a factor x, because although life goes on we have high unemployment, fear and uncertainty which are growing every day and all investors are quite cautious with their investments. But I have high hopes for the medical science community, which is working tirelessly to find a vaccine that would bring things back to normal, and the first vaccines should be widely used in Q4 this year. The devastating effect of the virus could be considerably mitigated in just a few months, which would of course create a much more favorable investment atmosphere.
Agree, and this is one factor we absolutely need to consider, if and how this model will be affected by this.