I started to invest in crypto in November 2015. Bitcoin price graph looked like this then:
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It's hard to miss that huge $1000 bump in late 2013 which propelled Bitcoin to fame. Frankly, I thought Bitcoin was unlikely to reach those heights ever again, so I invested primarily in altcoins back then.
This is how it looks today:
.png)
That huge spike is hardly noticeable today. It has been flattened. New users probably don't even notice it. Of course, many are thinking now "OK, this cannot be flattened yet again". But that's exactly what I thought in November 2015. The fact is Bitcoin has increased 5100% in value since then, a figure which can be matched by only a few altcoins.
My guess is it will be flattened again, the only question is how long it will take this time.
ANd how much it will fall back.
I bet at 2-5k usd range.
It cannot grow forever, that's for sure.
With big banks like Goldman Sach and J.P. Morgan investing in Bitcoin and the NASDAQ trading Bitcoin futures, the legitimacy of crypocurrency is now established no matter what network talking (or screaming) heads might say.
huh ? is it already christmas? a post from you and dutch within an hour?
iam with you in your guessing, it all is just a matter of when it will happen not if (at least to me)
Kind regards
Jan
We coordinated it on Slack. My Gridcoin Slack is open 24/7 :)
how long and how flat?
The whole scenery changed like crazy. There are too many newcomers, too many businesses, too many companies investing. Trading wise, it will crash, pretty hard in a snowball effect. But the confidence in the tech would make the recover less long than 2013 I would bet. With platform like Steem that let you earn cryptocurrencies in other way than mining, we have now a support that didn't exist before. It would be even better if those tokens sold in ICO were usable now but that is another issue.
I am much more careful in the way I invest since since summer :-).
Yes, things are getting faster and more intense. If BTC falls just 10%, countless billions in crypto marketcap will be lost, a huge loss in absolute terms. Nevertheless, as you have pointed out, people can still remain in crypto just by writing on Steemit or running BOINC or staking with a PoS altcoin wallet (i.e. things they normally do anyway) which keeps them in the game and makes future reinvestments more likely.
Hmmm... well if we scale this out over time, in order for the recent surge to blend in as a "small bump" in the price chart, BTC will be around 100,000 as the baseline at the end of 2020. The next surge spike at that time would proportionately be up to 375,000-ish before correcting again and continuing this cycle. [rough math]