The only question now is what would be the catalyst to achieve that $100k mark.
It seems that the catalyst for reaching the 100K is another financial crisis that may be even worse than the events of 2008. This is just my personal opinion.
I think the current monetary policy is only pretending to make the banking system safe. When in fact, we are on the way to a crisis.
Agreed.
I don't have a lot of faith in 2021, especially if $30k doesn't hold. New US govt administration will not be friendly to crypto. World economies are on the bring of collapse right now. And as that happens they will be desperate for more control. We're already seeing a lot of that as a result of the 'covid excuse'... govts clamping down on their citizens freedom/travel/etc. Don't let a tragedy go to waste. But the markets were already nearing collapse, covid was just the trigger.
I think 2021 will be a bear year, and this run is a bull trap. I anticipate regulations and at least one major exchange biting the dust - what if that was coinbase? Not saying it will be, but what if. I'm not hoping for a bear market, but I think the 'institutional' investment thing is BS given the shady Tether stuff going on. And before anyone says "Tether is only 2% of BTC market cap"... look at the daily volume. Tether has more volume than any other coin. That's the biggest red flag. Oh and also that tether.to is based on WordPress, what a joke.
But why should institutional investment bring stability? It may bring more volatility. Especially if world economies are in flux.
Lots of interesting speculations in this thread hoping for $50k+ and I hope that happens, but I have my doubts. I will keep hodling regardless.
I said this in January. It was great to see BTC go up to $64k, and I was certainly wrong about how high it would go. But this institutional investing and Tether has got to go. We shouldn't be happy because 'institutions' are investing. That's not what BTC is about. I remember back in the day, excitement was more about the latest development achievements rather than what company is tweeting about bitcoin. Crypto has become a joke in some ways, especially seeing Doge hyped so much.
Besides as I said in January, institutions like Tesla, are made up of people, who can change their minds. That same rush of positivity can cause a much more catastrophic rush of negativity in the market. I think there's actually more at play here than the Tesla/Elon surface level tweets. The world economy is still not doing well. Covid was a great cover for that. As such we will see a crash in crypto, since speculative assets are the first to get dropped.
Binance is under SEC investigation right now. Which exchange is next?
