In today's video, we'll be addressing just why Bitcoin has risen so quickly this year, when many people were expecting a much slower trajectory similar to what we saw during 2014-2017. And perhaps even more importantly, whether this is likely to continue.
Willy Woo offers an interesting theory that this market cycle might actually resemble what we saw in 2011-2013, which would help explain why the price has risen much quicker than many expected.
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The idea of the market causing as much pain as possible to the largest number of people is a very interesting one, and sounds believable. We are in a very speculative market indeed where lots of people having loads of fiat on the sidelines could be left with their pants down waiting for a dip that never came while institutions buy up everything they can. This unpredictability is ultimately why being a long-term holder is the best policy. You can look at charts all you want but the fact of the matter is that the market will always have a mind of its own. Charts are made for investors better informed than the majority of market participants to stay ahead of them. But if most people know the charts, then you will have people with knowledge and deep pockets trying to outsmart that crowd and we're back to uncharted territory again.
I think we will have another astonishing bull run in the latter half of 2020. I also predicted that bitcoin would be in a bear market from Feb 2018 - Feb 2019 back in 2017. I used the software (based upon Robert Schmidt's translations of Hellenistic era astrological texts) that I developed below in the prediction.
The real amount of btc tradable is skewed. I have heard there are not a lot of supply in circulation in respect of the 21 million total when all is mined. What that makes is less supply with higher demand. The buy and hold with btc seems to not do as good as other assets right now. Just buying low and selling at double the value seems possible as price swings are so significant.
As every market depends on supply and demand. It also depends on economic policy and changes and global political threats. The Bitcoin market also moves because of the war. Investors, the environment, the conquest of space, climate change and positive thinking are important aspects but those are muddy terrains. Must have a strong BTC with secular growth.
I've always thought bitcoin to be overvalued at anything above say 1,000 USD or so. Just because it introduced the technology to the world, does not mean it's the most practical or the most secure. I'm sure many others disagree with me, but I just don't see bitcoin as being the cryptocurrency that will dominate global markets and shift the demand for currency into something manageable. Although it has it's strengths and it's drawbacks, as will any other currency, I just don't see it being a front-runner in the long-term "crypto race" that we're all taking part in. I'd give it a top 5 spot for sure though, as being the originator of any form of technology gives you some sort of brandability and long-term userbase. What do I know though? I'm just a random average joe. :P
I don't really think bitcoin will rise that much this year but I believe 2020 is the year for bitcoin
I hope that bitcoin raises will be slower and more stable, I don't like this high volatility and i think it's keep many people out of the market
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Just because everybody wants in at the same time and that's the gas for the BitCoin 🚀 Supply and demand!
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We are not having a good day today unfortunately, but the future looks great. Thanks mike
No it can't be done . As we have already seen the negative effects of sudden rise of the BTC but it can't be possible every time. This time it will be at all time high but the duration will be long enough to do it.
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Bull Run is coming for sure..!!
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Yes and i hop bitcoin going on the top in the end of this year round about 25k usd.
Not only Bitcoin but the top 10 cryptos even more so have rallied in recent months.
Oh Radical!
How inspiering!
Interesting...
Epic!
Fascinating!
Congratulations @louisthomas!
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