How high can Bitcoin (theoretically) go, even?
Looking at all of the spikes in the past you can see that Bitcoin follows a very similar pattern. It flatlines in a trough of sorts for a very long time, then at the first sight of a spike it quickly accelerates, everyone buys and bitcoin shoots up exponentially. What is followed is a series of quick dumps and re-buys. Then you can see a second spike which shoots up, more stable this time. Bitcoin goes back down again, but this time levels out in its trough at a point higher than before it spiked to begin with.
What I'm observing this time is much different, however. The recent surge up to $5,000 had an initial spike, yes, but it was pitiful in comparison to the spikes that had happened in the past years. The (secondary) spike following it, which would normally be less than the initial spike, was even greater than the inital spike. This leads me to the question: How high can bitcoin go, really?
Would there be enough wealth (fiat) in the world to fund another exponential bitcoin spike? Are there enough "believers" there with enough currency to even fund bitcoin in its journey to $9,000-$20,000? Are we seeing bitcoin's potential "max out" here? I always knew that bitcoin only had another hype train left, maybe two, but it seems as though its run could be over already.
OR in the off-chance, bitcoin is about to explode stupidly, and the two spikes we're seeing are simply minute in the grand scheme of what bitcoin is about to surge to. It's all hopes and prayers out here on the frontlines of crypto.
[link] [comments]
Read More
