And think about it. Any asset that grows 10X in three years is ripe for a crash--so I'm actually hoping bitcoin doesn't get near $100k that soon. Hell, I'd be fine if it was at $25k by 2022. Ever see what invariably happens to investments that get into an exponential growth phase? Eventually they tank, just like the NASDAQ did in April 2000.
but it didn't
collapse. in the long run, the entire 2000-2010 period was just a sideways plateau. there's a big difference between exponential rise followed by a correction, and a real live bubble asset that collapses and never recovers. bitcoin definitely isn't a bubble asset so i'm not too worried about the post-bubble crashes. they don't matter in the long run.
and the exponential runs are unavoidable IMO because of the nature of price feedback. higher prices give rise to hype/demand, which further drives higher prices. this cycle keeps building on itself until the crash finally occurs.