There is no ceiling or floor - page 2.

Dragonfund

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Quote from: AB de Royse777 on September 05, 2020, 01:18:44 PM

I think the $50k value is very practical considering where we are now from where we were before. Right now bears are trying hard but bulls are stronger. $BTC has a huge resistance from $12,500 to $13,800. Once the market will settle above that range then we will see a new ATH in no time.

Sometimes, I feel this resistance thing is out of line if there is huge demand. I believe you saw how yearn finance broke $30k because of demand and supply.
While everyone has been clamoring and predicting new all time high for btc, it still baffled me when everyone sell of their btc that was supposed to be hedge/stand against inflation. Btc will attain ATH when this we put a stop to this bruhaha.

AB de Royse777

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Quote from: RapTarX on September 05, 2020, 01:01:00 PM

In theory, it may hit $50k as it's a scarce commodity or even to $1000 as no one would be here thinking of having a support for the supplier aka miners.

Well in your theory you just limited it with an imaginary ceiling and floor value. $50k and $1k.

I think the $50k value is very practical considering where we are now from where we were before. Right now bears are trying hard but bulls are stronger. $BTC has a huge resistance from $12,500 to $13,800. Once the market will settle above that range then we will see a new ATH in no time.

RapTarX

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I see a lot of guys complaining bitcoin will never reach to ATH, it will go below $2k bla bla bla. Well, this is a message to all the newbie investors.
In a centralized system, govt can control price of a product. For instance; if price of product X increases significantly which goes beyond the hand of normal people, govt may set a price ceiling to control the price. On the other hand, if price of product X goes too low, govt can set support or price floor on a certain level.
But, in a decentralized system like Bitcoin, no one can control the price. Well, whale can manipulate but they can never ensure ceiling or floor. You should invest in BTC after learning this two point. In theory, it may hit $50k as it's a scarce commodity or even to $1000 as no one would be here thinking of having a support for the supplier aka miners.

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