Post
Topic
Board Speculation
Re: Ascent of Bitcoin Price
by
BitHodler
on 30/07/2019, 23:55:44 UTC
Short answer:

For short-term (End of 2019): No
For Mid-term (2020-2029): Maybe
For long-term (10 years later): Yes
I appreciate conservative outlooks, but this has gone far past the conservative outlook.   Tongue

Bitcoin likes to repeat its cycles as can be seen in the charts, and while past events don't mean that we will follow the exactly same path in the future, the cycles will closely rhyme.

Bitcoin is still in its infancy where speculation is still the driving demand factor, which means that from cycle to cycle prices will continue to become severely overbought at the top, and severely oversold at the bottom.

I would actually be somewhat worried if the price doesn't manage to break $20k before 2029, especially with how bullish the developments have been and will be. If the price doesn't reflect that something is not right.