Am I correct in thinking that as the price of bitcoin goes up, it will take a lot more money to raise the price? Here’s an example…when bitcoin was $10,000 if 10 people bought $10,000 each, that meant 10 coins that we’re taken out of circulation driving the value of bitcoin up much more than if the price of bitcoin was $100,000 and 10 people bought $10,000 each of bitcoin that’s taking only one bitcoin out of circulation. So as the price of bitcoin goes up it will take a lot more cash inflow to raise the price. So is it safe to say that we will not see rapid gains like we had a few years ago where a bitcoin would go from 1000 to 10,000? I don’t see how so much money can come into the market to make it rise from 100,000 to 1,000,000 in an equivalent time span
You are absolutely correct. The potential growth ups to market capitalisation. Since Bitcoin has the biggest capitalisation, it is really difficult to be pumped in the short time. So to make the price of bitcoin goes up it will take a lot more cash inflow to raise the price compared to low market cap coins. But it will grow just because of its value, so we are hodl it.