Re: Can bitcoin halving make cryptocurrencies reach all time high again?
if we could double the current price (therefore $ 18k) it is likely that we will test the ATH quite easily and after the ATH there would be (as experience shows) the moon.
Due to the resistance and the mechanism of the FOMO it is VERY (but VERY) the most difficult to double the price from where we are now that to quadruple or quintuple once the previous ATH has passed.
The difficult (it is not at all obvious) is doubling in price from where we are now. The later would be the easy part.
Due to the resistance and the mechanism of the FOMO it is VERY (but VERY) the most difficult to double the price from where we are now that to quadruple or quintuple once the previous ATH has passed.
The difficult (it is not at all obvious) is doubling in price from where we are now. The later would be the easy part.
That's certainly true, mate. We'd need to cross $20k first, before talking of a new ATH for Bitcoin. It seems that there's heavy price manipulation on the market by whales preventing Bitcoin to get past $10k. That and the "futures" market could have been preventing Bitcoin to go towards new ATHs in price. If manipulation continues, we may never see a new ATH for Bitcoin again. As long as Bitcoin mining remains profitable for big miners, there won't be a reason for prices to go any higher. Some people consider Bitcoin to be overvalued, while others think otherwise.
What's important is not the price per Bitcoin in terms of Fiat, but rather its utility in the mainstream world. As long as you focus on Bitcoin's usage for truly decentralized payments, nothing else matters. I've seen many jobs paying directly in Bitcoin, and even shops accepting it. One Bitcoin will always be equal to one Bitcoin no matter what. While Bitcoin's deflationary design tells us that the price should go higher over time, it's certainly not a guarantee it'll be that way. For instance, the third halving had little to no effect over Bitcoin's price. No one knows if the upcoming years before the next halving, Bitcoin's price will be a lot higher than $20k. As long as there are greedy whales in play, it seems very unlikely that the pioneer cryptocurrency will reach a new ATH soon. Just my opinion
