previous turning point and the price would decline drastically.
Not necessarily! It just depends how violent might the new wave be. Imagine if we would have influx of 10 million new users in a short period of time. If this was to happen, I assume that the price would just soar over this $1000 point. Yes, there would be a little drop but the people would keep buying and pushing the price up. Then when the price would hit $1,100 and $1,200 people that were ready to go out would start thinking, OK but how high is this gonna go, I might hold a bit longer and make more profits!
At least I wish that it happens like this!
The angle I am coming from is that the previous bubble was due to a fake Willy bot doing it's thing... nobody knew this at the time, and everyone just jumped into the feeding
frenzy. This time around, a lot of people would expect the same scenario to play out again, and they would see the $1000 mark as the selling point. If this price increase run
with real demand, you might see some major hodling pass that marker. So yea... you probably right...
When it comes to trading and prices nobody really knows anything. We are just speculating! You might be as well right about the Willy bot, even this is a speculation. I did write above that I hope it goes this way, but that's still just a hope!
The best thing is to hold and to hold tight. You choose your picks and you live with them in a long run.
Cheers!