Right now it seems like every grandma and her dog is being persuaded onto the bitcoin bandwagon. Is this not a sign of an impending crash, in which those at the bottom of the pyramid get burned? Is the bitcoin rise sustainable? Where will the money be flowing in from of the limits market cap of bitcoin.
The rise could be sustainable if the ecosystem around Bitcoin really expands.
As I explained some posts ago, this would occur if there are more use cases. For example, remittances is one of the fields where Bitcoin has extreme potential, because the volatility risk is much lower there as with most other applications (because the user only needs to "hold" the coin [and hold the bag if there is a crash] for some minutes, while the transaction is being confirmed). If there are more remittance operators available, and Bitcoin will be massively used for that, this would be reflected in a "sustainable" price rise.
But currently this "real adoption" still is limited - so it's perfectly possible that the current market cap is "overvalued" if we take into account the really existing current Bitcoin ecosystem. And so "Grandma and her dog" could get burned
