Bitcoin briefly hit $17,000 this morning and is consolidating a bit at this time. Likely before continuing it's journey to $20,000.
Meanwhile many ALTs have been struggling, but remember when Bitcoin gets above it's all time high and receives a lot of attention, it will likely be alt-season.
Many will feel bitcoin moved too far too fast and that they missed the boat, but they will not want to miss the crypto opportunity, at this point they FOMO into ALTs. From a satoshi point of view I can see alts continuing to lose more ground, but because they trade mostly against BTC at this time, I would guess that alts like Hive have probably hit a USD bottom at this time.
The big question now is how high will BTC go. Some of the estimates are into the $300,000 range. At this point that still seems incredibly optimistic to me. However, I am not starting to take any profits yet.
It's a great time to be in crypto, what are your predictions?
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For me, the "theoretical ceiling" of Bitcoin is when the market cap approaches the market cap of gold... which is about $7.5 trillion. Even assuming the economic and regulatory climate stays the same, I'd guess it would take at least five years, but more likely ten years to get there.
Of course, in the interim, something could be invented that renders our current blockchain/crypto paradigm obsolete, but I expect Bitcoin would still retain a fair amount of "Legacy Value."
Disruptive technologies all go through similar evolutionary cycles. They start as "exotic" (think personal computers, then the Internet, then cellphones), then they become "leading edge," then "mass adoption" happens, and finally we have "total integration" OR the technology becomes obsolete because it's replaced by something else.
Bitcoin? Well, it's not really functional, except as an investment vehicle and potential store of value. Other than that, it's clumsy, slow and expensive to use. So it rides the legacy of being the "gold" of the crypto world. But just like most people don't actually own gold, nor do they pay for their afternoon latte with gold, Bitcoin will be a special case, but not what (IF it happens!) makes cryptos "integrated" into society.
=^..^=
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love that...
It would be incredibly stupid to take profits right now except to buy back after a correction.
I go by PlanB's cross-asset stock-to-flow model. I'm not going to bet against it. I've been told PlanB is some Dutch fund manager who does quantitative analysis for a living. Bitcoin seems to be on its way to an extremely high price, which wouldn't be surprising because of its small market cap and the weird macroeconomic situation we're in where money printing has increased drastically from an already high level from before the pandemic.
We know from experience that BTC's bull market cycle tops have far exceeded its price predicted by the S2F model indicating irrational exuberance.
There's still quite a bit of disbelief among the public. In Google Trends the search term "bitcoin" is nowhere near where it was three years ago. Retail investors are still not paying attention.
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It is interesting that Bitcoin is about to equal its all time market cap high even though it is a few thousand below the individual token price high.
I do agree that this party is just getting started. The more I watch, the more I believe people who have bitcoin should just ignore it and come back in 10 years. The numbers reached will likely be higher than most are predicting.
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I would love to get to a point where it spikes, dumps back and I buy a bitcoin or two and then snap them right out of the market to store it for years in the future!
Yeah that is what all hope...the question is if we can catch the spikes and dumps.
Bitcoin can be fast moving and the worst thing is to get caught dumping and the price runs before one can get back in.
It is always a challenge.
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I too am expecting the pattern to play out again.
It will hit 18000 or even it will passes it's ATH. Let's see! This is a great bullrun, which I hope will spike till at least 250k$ :)
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Here are my guesses:
The global economy is heading into recession and there will be high inflation. So cryptos will be boosted by that.
First Bitcoin will take the lead - but it went up too fast yesterday so I think it will sit around 17k for a few days now
I do think Bitcoin will keep climbing strongly for at least the next three months - up to well over 20K - maybe as high as 50k
But I don't think Bitcoin will go up forever - it may have it's regular pull back cycle or it may be replaced by newer "alt-coins" - or both - so I'm watching and if it looks wobbly I'll jump ship, as I did last time it got overheated
Alt coins - I'm holding ten at the moment, my biggest investments are in Etherium, Monero, Dash, and Cardano - any of which could take off. If there were any I would like to have more of, I'd probably go with more Litecoin.
But this post says it all (take care and trade with an eye on history):
https://peakd.com/hive-167922/@edicted/the-return-of-dumb-money
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I wonder where the ceiling for bitcoin will end up hitting? I think 300k is just to draw headlines or make someone sound credible but could we see 50k by the end of the year? I don't know but it's going to be a wild ride!
How is your husband doing? I haven't seen any update on him, understand if you don't want to share any info on it but I hope he's doing well!
yeah, I tend to think 300 is way too high.
My husband is on week 8 of chemo, he's tired, skinny and sick. We have reason to believe the chemo is working, but it's a tough road. He's emotionally steady and I am struggling. thank you so much for asking!
You're welcome! It is tough indeed, prayers for you and him to do well through all of this! I'm glad there seems to be hope and he can remain emotionally stable, that stability and emotional state is important. Keep up what you're doing with the holistic aids like good food etc. and I think it will get better!
Alts have been having a tough time. I'm with you about newcomers seeing alts as a more affordable investment.
My prediction--I predict I have no shot at swaying the market like the big fish do so I'm just along for the ride. It's been a comfortable one thus far.
That's a pretty good attitude. Enjoy the ride.
I think $40k Bitcoin is coming
That wouldn't surprise me, but for now I'm excited about it hitting $20k and then it's alt time!
Can’t wait to alt season and $HIVE season
It's flying just like a rocket. I will not be surprised at all if it reaches 25000 by 2021. the Bull of last e couple of months is huge.
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My target is still x10 the doubling curve Q4 2021 ($256k). Yeah, it sounds like a lot, but when we get there the FOMO will be so out of control that no one will see the crash into the mountain coming.
Sorry I was wrong about November 14th...
those three days must have been annoying :D
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Ambitious but not insane. I can totally see this happening
as i said in another post i try not to be that optimist cause i have seen this happening again and again. I will sit back in my corner and curiously waiting to see what's going to happen next and how this will play out! Will btc pass the 20k wall? If yes how soon? will it remain stable at 15-17k or will drop again?
If i had to bet i would say it will reach and surpass 20k maybe before 2021 but let's see
I think it will hit 20k and more, but I also think once that happens it will also do a strong entrancement like it has done before
All these talk about btc (massive peer-pressure to buy). Might just start stacking little for the long run. If it does get to $20k I don't think I would hold back. Have been waiting for some massive correction in price but none has happened this far.
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Well, I think most see usd is on shaky ground with all the money printing and the purposeful smashing of the economy by world leaders.
So, I would never exchange my btc for weak usd.
What's most exciting is that most 'nocoiners' are not talking about it. It's not in the mainstream news. It feels like this is not a top, but the beginning of a wave that is so huge it will lift all other crypto projects in its wake.
Gets me even bullish for Hive :)
Yeah, I think as people start to talk about btc again... (just starting)
And they feel like they missed the pump Hive and other alts could do really well)
It would have been amazing if they had focused on onboarding
A lot of big money starting to move into BTC. Thus, the move too far, too fast might not be accurate since it, overall, is a rather small market cap (for Wall street standards).
How high can it go? My long term level is the market cap for gold. I think this is the role BTC has for most so it will get a comparable value.
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Interesting that you see it linked with gold. I am not sure that I agree, but I get why some would view it that way.
Time will tell.
Patiently waiting for alt season now... Awesome times ahead and feel so great being in crypto.
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Alt Season is going to be fun
I'm all in for it :)
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@whatsup,
No matter BTC hit a new ATH, it will drop back, the history repeats. Anyway ALTs like HIVE got a good chance to make it's journey to atleast 1 USD this time.
!tan
Cheers~
I also think hive will see $1 again. It could do much better than that, if they would market it especially to mainstream
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my predictions are : bull run on bitcoin targeting a 100K$, several corrections as the people will take their profits...
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I belive that synchronicity will give alts coins/tokens an expression to function. Because of polarization absorbing neutrality in politics, people will choose no chose. Is a no brainer to stay in the middle .
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