people are rumoring that BTC will go to 100k or 300k, very logical but I think it will possible after a decent pullback.
If you pay a little more attention you will see that already we had around 10% pullbacks several times, and a bigger one may come later but no one knows when. I don't suspect any big correction before we go to 60K zone. After that when once we get around 60k to 100k I think it could get very volatile.
Bitcoin Could Soon Hit $70,000, And That Has Nothing To Do With Currencies by Dan Runkevicius
https://www.forbes.com/sites/danrunkevicius/2021/01/07/bitcoin-could-soon-hit-70000-and-that-has-nothing-do-with-currencies
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Bitcoin doesn’t compete with currencies. It competes with “insurance” against paper money
From an investment and ideological standpoint, Bitcoin is actually more like a commodity. More precisely, one of the most expensive and “useless” commodities in the world—gold. Unlike other commodities like oil, gold has limited use. For example, ~3,000 tons of gold were dug up and sold last year. And of that amount, just 35% went into electronics and jewelry. The rest was melted into bars and coins and stowed away. Gold is not a medium of exchange either. You can’t walk into Pizza Hut, drop a sliver of gold on the counter, and get a slice of pizza. At most, you’ll get some strange looks.
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If just 20% of private gold holdings moved to Bitcoin, the crypto would double or more
Bitcoin doesn’t compete with currencies. It competes with “insurance” against paper money
From an investment and ideological standpoint, Bitcoin is actually more like a commodity. More precisely, one of the most expensive and “useless” commodities in the world—gold. Unlike other commodities like oil, gold has limited use. For example, ~3,000 tons of gold were dug up and sold last year. And of that amount, just 35% went into electronics and jewelry. The rest was melted into bars and coins and stowed away. Gold is not a medium of exchange either. You can’t walk into Pizza Hut, drop a sliver of gold on the counter, and get a slice of pizza. At most, you’ll get some strange looks.
...
If just 20% of private gold holdings moved to Bitcoin, the crypto would double or more
Quote
So the questions you should be asking yourself are these
Will investors buy Bitcoin as a legit store of value so early on? And will they move a meaningful chunk of their “gold insurance” to Bitcoin? I’m convinced these are the questions that will drive Bitcoin’s price for now.
Will investors buy Bitcoin as a legit store of value so early on? And will they move a meaningful chunk of their “gold insurance” to Bitcoin? I’m convinced these are the questions that will drive Bitcoin’s price for now.