Will bitcoin go up even more than what it is now?
Since its going up, does that mean people are buying more or selling more?
Thanks
Short term -> don't think so. Maybe we see a blow-off top around 25-30k and then make some significant retrace.
Medium term -> Yes we will go go up even more.However consider some bear phases or just sideways movements for months to happen as an opportunity.
Long Term -> Oh hell yes we will continue moving up to 6 digits one day. However this may take us some years and therefore won't happen over night. Patieince is needed. But it will pay off!
When the market moves up, there is more buying than selling. What we don't know how much of this is real adoption, interest in Bitcoin as a store of value and technology. And how much is just greed, speculation for a quick profit. So expect the price to overshoot due to the speculation aspect and therefore some correction will happen. For how long and how strong that down move could be is hard to say. But I don't expect another 2013/2014 as long as no Mt.Gox like event is going to take place.