Just getting past the previous ATH by the end of the year would be difficult enough. I wager you will be waiting quite a while longer for $5,000.
ATH no prob, see:
Facts:
- On weekly chart PSAR will start turning parabollic tomorrow. In bitcoin world this was allways sign for a new bubble.
- On daily chart 50d MA crossed over 200d MA, and 200d MA is below spot price. Financial world describes such event as a golden cross (http://www.stockopedia.com/chart-signals/).
- This week we will also see 100d MA crossing over 200d MA and it will stay below 50d MA. It is a perfect storm setup.
How long it will last? Noone knows, but for sure current ATH will be history soon. New ATH ahead.
Even if there is a bubble happening by then and we get past 5000 USD, will you sell? What guarantees that you are selling at the top? what guarantees that you will be able to buy back at a decent enough price? What happens if you aren't able to buy back and get left outside the market with your deprecating dollars?
Bubbles are cool, but they are a bitch if you end up screwing up. You never know if the price will get a small correction, or a huge one. Say we reach 5000, price goes back 4700. You think "oh, the correction hasn't even begun, we'll probably go back to at least near the last ATH". So your plan is to keep waiting for something near 1.3. But guess what, it doesn't happen, and unexpected whales and legit buyers keep pushing the price up, and the price starts going up again from 4700 to something unexpected such as 7000, and then it starts peaking there and having a big correction... see, there are tons of ways to lose money, but my biggest fear is being left behind outside the market, as a long term holder that's what scares me to sell, because you can't never be sure if you are perceiving an obvious bubble or you are selling at the tip of an huge iceberg.