Would be extremely disappointed if BTC will not break $200,000.
2013 top of $1,000 —-> 2017 top of $19,000 —-> 2021 top of $69,000
We are seeing diminishing returns, there is no doubt about that. We have paper Bitcoin and who knows what else suppressing the price. I am not sure if we hit $200,000 this year. Obviously I want that but I think we fall short.
I mean, diminishing returns is expected when you have something that is growing from basically nothing. If you look at actual market cap value added, you'll see quite a different picture being painted by the same data...
In the 2013 cycle we added millions to the market cap. In 2017 we added billions. In 2021 we added over a trillion... How many trillions will be added this cycle?
Your statement is accurate though and I agree with the expectation. I think a top price between $130K-$170K is most likely, occurring sometime between the beginning of September and the end of November. It's more fun to call for a $700K top, but I think for me personally, I'll be looking for high volume peaks as soon as September hits. We are roughly 3 months away from me turning from a SUPERBULL to a BEAR. At that point I expect I will become public enemy number 1 in this thread again. Get your insults ready!