I know y'all have seen this diagram before, and with BTC just crossing $3,800 as I type, where do you think we are in the bubble?
Aw man so cuz I'm a noob it won't post the image... Oh well. Its basically that "main stages of a bubble" chart. Which crypto most definitely is in. But are we just beginning the true ascent, or have we reached the peak? Thoughts?
Aw man so cuz I'm a noob it won't post the image... Oh well. Its basically that "main stages of a bubble" chart. Which crypto most definitely is in. But are we just beginning the true ascent, or have we reached the peak? Thoughts?
Do you see many institutional investors in Bitcoin at this time? Are pension funds including Bitcoin in their portfolios? I have exposure to this information at my job and can assure you they are not.
Based on this I would say that we are still in the stealth phase, possibly moving into the awareness phase.
Pension funds can't invest in unregulated investments (because this is old people's retirements we're talking about). However, Hedge Funds can invest in whatever they like and I think this current move up in the last few months is hedge fund money.
That is why I think we're at the first stage of Mania, which is "Media Attention". Once cryptos get ETFs approved etc, then we get to the part of mania labelled "public" where Joe Bloggs is actively choosing to put money into cryptos. We are several years off that. BTW, I think this chart is for cryotos as a whole, not just bitcoin - no way to know which coin will be top top when we blow the top.