Why do you have little faith though? did Bitcoin already failed to reach new all time high every 4 years? I will have doubts as well if we have somewhat didn't see a bull run in 2020-2021, because of the pandemic, so obviously you are already proven wrong with your argument.
From which part are you implying that I've little faith in Bitcoin? My point is simply that the $50,000 mark isn't that far from our current price and is a very likely and realistic price to meet in the few upcoming months.
Yeah, and just like when you posted this thread, suddenly the price went on a spike, reaching as high as $35,150 and then we are trading on $34,310. Not to rub it in, but Bitcoin proves it's doubters again, sorry to burst the bubble to you OP.
What bubble are you bursting? There's no bubble to burst, nor did I ever imply that I'm another doubter of Bitcoin; I wouldn't be here if I were one. I don't understand how you're claiming such a thing when I'm nowhere close to implying something like that.
And let's just wait till the bull run in 2024-2025 and see how big it will be. Just for the record, the lowest low is $15,500. And with the current price, we are almost 130% from it, meaning if we have bought at that price last year and continue to do DCA one year later, we should be in the profit right now. So in the next bull run, the returns could be higher than we expected, just saying.
I never mentioned that the lowest is $25,000, but that the nearest low of a few months is approximately there, which is still a decent price for those who missed the opportunity to buy at $15,000 or $20,000 in terms of investment capabilities, and $50,000 is a pretty viable target within 2024.
The current global economic situation is certainly not good. With two major wars going on at the same time, it is highly likely that economic institutions will not fare well. We also often hear about the bankruptcy of various financial institutions. In particular, the condition of the banking system is not very good. But the positive thing here is that since Bitcoin is a decentralized asset, people are trying their best to convert their wealth into Bitcoin. As a result, the demand for Bitcoin is also increasing massively. If a person loses confidence in keeping slowly building wealth in traditional platforms then Bitcoin is a suitable platform where you can invest your wealth safely against inflation. In the current scenario, Bitcoin price is rising and will continue to increase, we expect bitcoin price will surpass the previous ATH in the next year.
Apart from the ongoing wars themselves, I'm mostly worried about a new potential energy crisis. We already had a rough one after COVID-19 and the Ukrainian War, and the battlefront in the Middle East certainly isn't helping.