Post
Topic
Board Speculation
Re: Are we makeing up time for the lost years between 2013 and now or pump & D
by
Qartada
on 01/05/2017, 08:57:39 UTC
I kinda feel on a weekly time frame, we are pumping a bit hard, but on a macro scale BTC seems to go above critical amounts such over 1 c, 1$, 100$, 1K, etc.

Are we catching up for the lost years, eg due for a 5 ~10K pump then fall back to 3K or something?



No I can not see us pumping BTC that much. Just to reach $3000 we would need another $23 billion moving into BTC right now.
Not true at all.  The amount of liquidity on exchanges is mind-boggling small and the vast majority of Bitcoin isn't even in circulation.  It wouldn't even take a quarter of that to pump up the price that far unless loads of hodlers give up and start dumping their old Bitcoin on exchanges.

Basically, right now it's a "pump" in that it's pretty quick growth and could reverse due to weak fundamentals, but the reverse would be to about $1100 rather than really significantly down.

The reality is that Bitcoin will rise, but it'll take time.  A full-on pump and dump could happen at some point, but it seems more likely that it would happen with an altcoin instead and the dump wouldn't fully happen - you could imagine some whales getting into ETH or something.