Post
Topic
Board Bitcoin Discussion
Re: What's the next Bitcoin´s NEW 2020 HIGH?
by
mk4
on 13/11/2020, 15:11:44 UTC
Well, Bitcoin made it up to $16k slower and without that much hype this time. I honestly don't understand what brought it that high after all these years, but I think that if there's less hype over it now than in 2017, it's a good thing. I believe that because broad media coverage encourages newbies to buy out of FOMO, and then they start panic selling once the price gets a bit lower, causing a huge drop. Maybe this won't happen this time. It would be nice if it doesn't because I don't want 2018 all over again. I think Bitcoin might reach $20k by the end of 2020, but I'm not sure I want it to. The price is already very good, and slower growth or even stabilization is preferable, as for me.

Well, bitcoin's recent rise to $16k wasn't like 2017-levels of fast, but it still wasn't slow either. As for what brought as to these highs without the mass hype, I'm guessing that it's actually institutional investors(though I don't have anything to back this up). It's the only thing I can make sense of besides old bitcoiners buying more bitcoin.