the hype is the same, the market feels different. more mature. the selloffs aren't causing panic. the buying pressure is strong and consistent. what will happen when the influx of new money stops, though?
Two possibilities. Either new money influx stops, or the influx of new money *really* starts? Like, tens of millions investment sizes - and it very well could happen even inside a very high risk portfolio. Choosing between that and everyone else besides people who already invested in bitcoins losing interest, I pick the optimistic version.
That of course does not mean that big money would start buying everything at offer price quadrupling the price to triple digits; there will be many less stupid moves still, and going down very well might be one of them, just don't hold your breath for a correction to single digits, not going to happen this year.