Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
If this bubble can reach $1k, will it promptly create a crash from all of the sellers at that price point? Or will it begin much sooner ($500)?
Here's a "back of the envelope" theory:
Base to Peak ratios
Bubble 1: $1 to $30 (30x)
Bubble 2: $13 to $260 (20x)
Bubble 3: $120 to $1,200 (10x)
Bubble 3: $120 to $1,680 (14x)
Actually they are not Bubbles, technically they were a run on the Bitcoin Bank, and what we have today is a lineup to deposit into the Bitcoin Bank. (given we don't charge interest, there is a market based enter fee for depositors, given the utility and limited supply.)
Bubbles pop, and mismanaged banks go bankrupt and there "customers" panic.
Bitcoin looks as strong as a bull and like it's here to stay