Possible? Definitely! If you asked people in February 2013 if it was possible or probable that Bitcoin was worth $1000 in December 2013, they'd send you straight to the loony bin! But it happened. A crazy increase! And a 4- or 5-fold increase over the course of more than a year is possible with Bitcoin!
This is exactly why it WON'T happen. Most people bought bitcoin in February 2013 or earlier because merchant adoption hadn't happened yet, and there was a lot of hype about it happening and bitcoin going mainstream soon after. Those early adopters wanted to see what it was all about, but deep down didn't expect huge gains and were just interested in the potential. Most of them just tested the waters by investing a few hundred dollars at most.
Now all we hear is,
"When will bitcoin hit X amount of money?"
"Should I go all in?"
There is nothing particularly interesting to look forward to anymore. There was a lot of support behind bitcoin in 2013, but now the momentum is gone. Yes, there is the ETF, but that is not a bitcoin development, it's just another way for people to invest. But if they wanted to invest, they would have already invested!
Now, it's just become a get rich scheme. The public has decided they don't need bitcoin, so now it's a bunch of bag holders with big dreams and nothing to back it up. $1,000 will never happen again, my friends. It's over!
Wow. Such cynicism.
We are in a much greater position for a rise in price than we were last time. With more people that are even aware or Bitcoin or who have dabbled in it there is a much larger pool of people that will invest when the price movement begins which in turn will cause an even higher price than the last increase when it does happen. We probably have some bigger players that are trying to keep the price steady or as low as possible for whatever reason, probably to pick up more coins before the next rise, but I think of bitcoin like it is a geyser waiting to erupt. There is definitely things happening under the surface and when it finally erupts it will be mindblowing. For some reason this seems to be the way it works. Perhaps when it reaches full adoption and is widely used we will see less of this I believe. But for now we just need to enjoy the ride.