We're almost half way to 100x (250k) - page 2.

pooya87

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Quote from: jackg on December 21, 2020, 06:33:37 PM

But we can expect a colossal crash, 80%+ again I reckon.

No we can't YET because such "colossal crashes" only happen after bubbles not after rallies. What we had so far was simply a bull run with price going up and there is no bubble in sight.
But when we enter a bubble, like reaching $500k then we can expect the price to crash hard like it has always done in the past.

Is it good time to buy? Not the best but yes, people aren't really bullish on bitcoin yet. If they were then we would have seen a lot more bullishness in the market with rises every day instead of an initial small rise after the ATH was broken followed by a healthy correction and now a shrinking daily fluctuation (9% yesterday and 3.7% today!) heading towards stability and possibly accumulation again.

davis196

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Quote from: jackg on December 21, 2020, 02:16:13 PM

In 2018 we saw drops down to ~2900 and recently we dropped to around $4000, we're now already 600% up from the $4000 figure. I don't see $250k being completely out of reach by now, since an extra move as big as we've seen ever the past few months would take us to $120k.

(This is just a curious evaluation I don't want anyone trading based on this alone - it's normally not the best time to buy when everyone's bullish or if it is it's riskier to do).

600% growth from 4K USD to 24K USD is one thing.
100x growth from 25K USD to 250 USD is a completely different category.I assume that,if the insane money printing continues and there is no FUD coming from the G-20 governments,the cryptocurrency marker cap might reach 1 trillion USD somewhere around 2021 or 2022.
However,a 1 trillion USD market cap isn't enough for a 250K USD Bitcoin price.We need way more capitals invested into the crypto markets.Probably around several trillion US dollars.
We don't know what will happen after the pandemic ends and when will it end?

NeuroticFish

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Quote from: jackg on December 21, 2020, 02:16:13 PM

it's normally not the best time to buy when everyone's bullish or if it is it's riskier to do

MicroStrategy has just done this. And although many are surprised by it I find it normal:
1. It's consistent with the rule to buy more times over longer period of time.
2. It validates the analysis that the bull run (or bubble?) is just at the beginning.

sunsilk

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Quote from: milewilda on December 21, 2020, 05:57:51 PM

Not to be bitter on having these kind of numbers but if we do consider on how big the marketcap would be on reaching 250k then i dont know on what would be the situation in terms of comparison
of Bitcoin and with the top fiat currencies when it comes to value and also to others.
We can presume out those high multipliers when the price was still soo small but since we are already in 20k+ side then reaching 600% or 100x is
almost out of reach.Being bullish isnt a bad thing but if i do mind off that way then im not really that patient on waiting up for too long.
It can be reach but not might be on my lifetime lol.

You need to be patient if you want to witness those high prices that are out of reach for the moment. We have never been this so bullish and this is greater than the last bull run that we get. Not ignoring the possible crash or plummets that would likely to be heavier than March's but it would also open the idea that it could go up as greater than we have.

More fiat printed, this would turn people to start thinking of a valuable asset that they can turn in. One idea would be bitcoin since it's getting the idea through mainstream and traditional financial institutions.

TravelMug

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Quote from: jackg on December 21, 2020, 02:16:13 PM

In 2018 we saw drops down to ~2900 and recently we dropped to around $4000, we're now already 600% up from the $4000 figure. I don't see $250k being completely out of reach by now, since an extra move as big as we've seen ever the past few months would take us to $120k.

(This is just a curious evaluation I don't want anyone trading based on this alone - it's normally not the best time to buy when everyone's bullish or if it is it's riskier to do).

Yeah, and with the way bitcoin's narrative from a speculative asset to be more of companies hedge and the next gold, I'm not surprised that in the next 2 years the price could peak on 6 digits.

So I definitely agree with your curious evaluation and I'm sure there could be more members here that could agree because that's where everything is looking at to even as high as $300k down the line.

crwth

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https://linktr.ee/crwthopia

I'm concerned about how much volume it's going to be when it reaches that amount. The volume of money that would be invested to reach that amount. That's really a high figure and considering that we have reached another 600%, I'm sure that the news about it is widespread. It can reach another new high in the following months.

I hope it's not going to be a constant USDT printing. Shocked

thecodebear

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All we need is time. Bitcoin is an unstoppable money gobbling machine. Now that the so called "smart money" is finally starting to get smart and enter the fray, it's only a matter of time until a quarter million dollar price is standard. I think it'll probably be 5 years until it gets there, but yeah just needs time. Bitcoin, as is, is already on its way to being digital gold / reserve currency for the world, and the big money institutions are finally starting (only just starting) to realize that.

An expanded DeFi and a scalable Ethereum to expand the other side of the crypto world (smart contracts) will help out as well as it'll raise the level of the entire crypto market including bitcoin. Just needs time.

jackg

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https://bit.ly/387FXHi lightning theory

Quote from: milewilda on December 21, 2020, 05:57:51 PM

Not to be bitter on having these kind of numbers but if we do consider on how big the marketcap would be on reaching 250k then i dont know on what would be the situation in terms of comparison
of Bitcoin and with the top fiat currencies when it comes to value and also to others.

The £ sterling has a market cap of around $3tr+. Btc valued at $300k is $6.3tr, I don't think it's beyond reach. If it happens it'd be a nice fuck you to Amazon too Grin

. But we can expect a colossal crash, 80%+ again I reckon.

Quote from: AjithBtc on December 21, 2020, 05:17:38 PM

There is marginal fluctuation happening with the price. People are observing the market closely. The market that fell will grow, because the ending days of year used to make a big price rise. In comparison to the ath value the price has dropped little. Maybe this corrective fluctuation is for a large scale price pumping. $250k is beyond imagination, but can experience the reality within next five years of time.

I avoid posting this sort of information until we're in a bead period. I don't want to influence gambling but rather confidence to holders and buyers near the top.

We always must boil over before going higher (for the healthiest move) ...

Quote from: LFC_Bitcoin on December 21, 2020, 03:09:08 PM

$150,000 is definitely possible & to be honest I’d say likely at some point in the next 12-18 months. With the way traditional investments are performing, low & possibly negative interest rates, constant fiat money printing etc bitcoin is a very attractive asset.

Nothing seems to correlate with each other in the stock market either and we normally recover fairly fast after a crisis - this time we've taken longer in most places.

I think we need to see some sort of start to an economic boom or a lot of developments in crypto (even defi becoming more stable and offering better interest rates than banks and most places).

milewilda

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Quote from: jackg on December 21, 2020, 02:16:13 PM

In 2018 we saw drops down to ~2900 and recently we dropped to around $4000, we're now already 600% up from the $4000 figure. I don't see $250k being completely out of reach by now, since an extra move as big as we've seen ever the past few months would take us to $120k.

(This is just a curious evaluation I don't want anyone trading based on this alone - it's normally not the best time to buy when everyone's bullish or if it is it's riskier to do).

Not to be bitter on having these kind of numbers but if we do consider on how big the marketcap would be on reaching 250k then i dont know on what would be the situation in terms of comparison
of Bitcoin and with the top fiat currencies when it comes to value and also to others.
We can presume out those high multipliers when the price was still soo small but since we are already in 20k+ side then reaching 600% or 100x is
almost out of reach.Being bullish isnt a bad thing but if i do mind off that way then im not really that patient on waiting up for too long.
It can be reach but not might be on my lifetime lol.

AjithBtc

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There is marginal fluctuation happening with the price. People are observing the market closely. The market that fell will grow, because the ending days of year used to make a big price rise. In comparison to the ath value the price has dropped little. Maybe this corrective fluctuation is for a large scale price pumping. $250k is beyond imagination, but can experience the reality within next five years of time.

Wysi

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Indeed, it's a massive gain since last bear market and this is a proof that $120k does seem to be far away but it's neither gonna take place in 2021 as Bitcoin requires ample amount of time since we have achieved this percentage of price increase in a span of 3 years. We should be optimistic but not unreasonable in terms of prediction.

LFC_Bitcoin

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$150,000 is definitely possible & to be honest I’d say likely at some point in the next 12-18 months. With the way traditional investments are performing, low & possibly negative interest rates, constant fiat money printing etc bitcoin is a very attractive asset.

The institutional money will come like a tsunami in 2021, we’ve never seen anything like it.

HODL.

cr1776

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Quote from: jackg on December 21, 2020, 02:16:13 PM

In 2018 we saw drops down to ~2900 and recently we dropped to around $4000, we're now already 600% up from the $4000 figure. I don't see $250k being completely out of reach by now, since an extra move as big as we've seen ever the past few months would take us to $120k.

(This is just a curious evaluation I don't want anyone trading based on this alone - it's normally not the best time to buy when everyone's bullish or if it is it's riskier to do).

Buy when there is blood in the streets. Be “fearful when others are greedy, and greedy when others are fearful.”

jackg

copper member

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https://bit.ly/387FXHi lightning theory

In 2018 we saw drops down to ~2900 and recently we dropped to around $4000, we're now already 600% up from the $4000 figure. I don't see $250k being completely out of reach by now, since an extra move as big as we've seen ever the past few months would take us to $120k.

(This is just a curious evaluation I don't want anyone trading based on this alone - it's normally not the best time to buy when everyone's bullish or if it is it's riskier to do).

Topic: We're almost half way to 100x (250k) - page 2. (Read 380 times)