With big money coming in to Bitcoin now, plus China, I think a $300/$400 price tag is quite reasonable.
Most importantly, public perception is much different than 6 months ago. Bitcoin is no longer viewed as "the popped bubble" that clearly was a scam and dismissible. Bitcoin has surpassed the previous "bubble pop" in under 1 year. The technology is actually taken more seriously. People are taking the time to actually understand Bitcoin. This is easily observable in just the media's presentation of Bitcoin over the past few weeks. It's hard to think of a more powerful and motivating outcome, than something that fully recovers and surpassed a previous ATH in such little time. That is a serious statement to people on the outside. Public perception, when there's so much usage to gain, is most important. To dismiss it as so insignificant is, I think, a mistake.
Thoughts in context.
sure, this is true, to an extent, but much of this is perception in the context of a bull market. but this is how it should feel in a strong bull market. that's the exuberance. good news is that much better and bad news is that much less important. Most importantly, public perception is much different than 6 months ago. Bitcoin is no longer viewed as "the popped bubble" that clearly was a scam and dismissible. Bitcoin has surpassed the previous "bubble pop" in under 1 year. The technology is actually taken more seriously. People are taking the time to actually understand Bitcoin. This is easily observable in just the media's presentation of Bitcoin over the past few weeks. It's hard to think of a more powerful and motivating outcome, than something that fully recovers and surpassed a previous ATH in such little time. That is a serious statement to people on the outside. Public perception, when there's so much usage to gain, is most important. To dismiss it as so insignificant is, I think, a mistake.
Thoughts in context.
.....until reversal.
Good luck locating a reversal. Here are some random possibilities:
- Up to $440, crash to $150s, settle at $250
- Up to $2400, crash to $600, settle at $900
- Up to $500, sit in $400s for 3 months...?
- etc etc ....
We could be no where near a peak, and you haven't provided any quantitative evidence to suggest this is the peak.
I'm holding long term anyway, so I could care less about when/where the "peak" is, and to what level panic sellers may, at any moment, temporarily crash the market to. You probably shouldn't be investing in BTC though if you're constantly haunted by thoughts of crashing markets. That can't be healthy.
i was just talking about perceptions of the market. specifically, how people perceive the landscape in a bull market. it doesn't look so rosy when we see a real correction. when will we see it? i am not speculating about that so much. i was just talking about how the quote above is verging on "new paradigm" talk, which is only natural in a strong bull market. but that's why i take that thinking with a grain of salt.
sure, it's true, but people are vastly overstating the speed at which the BTC infrastructure and economy is maturing. because they want to explain a 600-700% price gain over a few months.
i am not worried about btc crash, haha...
i'm going to actually try to buy some off there just for the hell of it!*sounds legit!>>jmho<<
