If the price rises to $500 in early July, I will be very happy. That is 10% rise in two months, or 60% in a year.
60% annual rise a quite a lot if that is sustainable. I hope can be like that in the next 20 years.
60% a year for the next 20 years, that is 12,089 times of present value, or $5.7 million for each bitcoin.
Which is plainly insane/crazy. Of course it wouldn't be guaranteed 60% rise annually. Just take a look at 2014 and you'll get a nice picture of what I'm saying. The recent price increase, I think, is due to halving becoming closer and closer each passing day. Mostly manipulation and not pure natural growth.
In May 2013, the bitcoin price was about $60, now it is about $500. So it is 8 times in 3 years, or double every year.
most people don't look that far back in the past. they just look at the last few months of this year, and that's how they get an idea of how the market (according to them) is performing. people nowadays are very short term minded.
bitcoin has a history of small explosive growths that usually happen over the span of weeks or months at most followed by a sharp correction and then long periods of sideways trading and often slowly decreasing in value during those bear markets.
There are not many cases where bitcoin slowly increases in value, it's either a massive rise or a long period of sideways trading.
And right now, bitcoin is readying for the next massive rise it seem. So expect to see $3000~5000 in the next few months.