Quote from: KTChampions on Today at 10:44:07 PM

Quote from: JimboToronto on January 07, 2021, 11:57:49 PM

Quote from: KTChampions on January 07, 2021, 11:04:55 PM

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.

I would not make a comparison with the past, since now the capitalization is completely different and there is no point in talking about a 25-fold growth (and the like).
As for institutional investors, it is in their interests to lower the price to 20 and maybe up to 10 thousand in order to collect bitcoins from weak hands Wink

I think you are not differentiating between market manipulators/whales and institutional investors. The two have very different agendas and motivations. I really don’t see institutional investors as wanting to floor the price - quite the opposite.