Quote from: KTChampions on Today at 11:04:55 PM

Quote from: thecodebear on January 05, 2021, 05:54:12 PM

I think it would be VERY surprising to not see prices over $100k this year. I'd wager by the start of summer it'll have already moved quickly up to mid-to-high 5 digits ($60k-$90k), but then takes a little break as perhaps at that point institutions will wait and see to continue to accumulate lower as they might consider the risk too high on something that has gone from $10k to ~$80k in like 8 months. Then in the Fall we'll see it push past $100k and possibly go significantly higher than that before any serious correction. Though any serious correction after that I bet would be bought up in a matter of months by institutions, and we'll continue seeing upside in the 6 digits next year and beyond. Any major correction will just shift more Bitcoin from retail investors to institutions as they accumulate millions of the bitcoin supply.

I think you are overly optimistic. If a deep correction begins now, then bitcoin will easily spend the next couple of years in the 20-30k corridor and there will be no chance of seeing 100k even theoretically. I think that we will find out in the next couple of months - most likely the growth will stop and we will find out what the high of this year is.

I think you are overly pessimistic.

Why would you think there might be a deep correction beginning now? We're still barely begun the bull run. Retail FOMO especially now is just starting.

I see this year as being a lot like 2013 when the bull run started in late 2012 and continued until early spring growing 25-fold to over 8x the previous ATH. Then after an 80% crash down to just under twice the previous ATH, it consolidated for several months and bubbled up again, this time 20-fold.

This bull run is different from all the preceding ones because it has been mostly based on institutional investment, not retail FOMO. Don't expect hardened institutional investors to panic sell. They don't have weak hands.

I agree with thecodebear in that I think it would be VERY surprising to not see prices over $100k this year.

I think it will probably go a lot higher than that.