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RE: Mass speculation: Is this Bitcoins Assault to $10,000?
For as much as the entire world is quite in a difficult situation I do not think we will see BTC at 10,000 in this pump... we are still waiting to see if it will be possible to pass 5,000... I see 10,000 in 2018 to be honest.
I tend to agree with you on a break-through that high, although I think it could easily be triggered by several things. Those would include the IMF approving a nation like China to declare their currency as Gold backed, which would immediately dethrone the dollar as the worlds reserve currency. Another trigger could be the breakout of war involving a nuclear exchange, in which case we're probably back to cave-man living. Under normal circumstances the more likely scenario is the U.S. dollar being devalued with an inverse relationship to bitcoin, and that could push it up to $10k.
But US count only for 24%-25% of the investments in cryptos... the big player is Asia... even with the Dollar taking a bath $10k is still a 2.5x jump, which is not a small one even in the crypto space... considering the months left to the end of the year BTC must keep the same growth since beginning of 2017, not saying it is not possible, but I just don't think there is enough firepower to actually make that jump in such a short period...
yes 2.5 times jump is pretty steep, considering its over $4k at the moment. Certainly the Asian market is the main player, and I think when a major shift occurs in currency's the BRICS will become the dominant holder, probably with China and Russia using Gold to back their currency's.