If bitcoin were to keep following the pattern from 2012...
We are going a lot higher!
Mentioned in my previous post, bitcoin's price action looks a whole lot more like what happened back in 2012 than what happened in 2015.
This is very interesting because the bear market leading up to now looked a lot like what happened leading into 2015...
Which is why so many people, myself included, assumed that the recovery would look like something like what we saw coming out of 2015.
Except it hasn't.
It has looked eerily similar to 2012.
I posted more on that here:
https://steemit.com/bitcoin/@jrcornel/bitcoin-looks-more-like-2012-than-2015
If that pattern continues, we are going a lot higher.
In fact, here is what the chart would look like:
(Source: https://twitter.com/JamesoofC/status/1145088524145844224)
Pretty cool eh?
Even more cool is that McAfee wouldn't have to eat his d*$k!
Stay informed my friends.
-Doc
People who are hitting bitcoin faucets today will have enough money to retire.
We haven't even started to see adoption.
We will look back and think there was no activity in bitcoin till 2019-20
Everything before than was just a flat line.
Man that sure would be nice... (your bitcoin faucet comment)
Next stop 20K 💰🤗💰
If this pattern plays out, it will happen within the next few months.
1.3mil I can’t imagine that ride up or that ride down once the bubble pops! I don’t know if we would be able to handle those volumes unless the lightening network is in full swing
LOL at retarded mega whales real life thanos shit
Haha yea I thought that was pretty funny as well! To be honest those prices seem pretty ridiculous in the near term to me. Perhaps in a decade or more, but those are astronomical numbers in the near term.
Clif High had data saying that bitcoin would go no-bid.
So, at that time, trade a couple thousand satoshis for a homestead.
Yea if it went that high would anyone actually want to sell it for a dollar, considering what the dollar would likely be worth...
Only the minimum amount to pay the bills I guess on the condition that you still would have to use dollars or euro's for that...
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Yea, my point was that if bitcoin were to go that high this quickly, it probably means something pretty terrible has happened to the USD.
Is it worth to sell altcoins and buy bitcoin or do you think that other cryptocurrencies will go as high as bitcoin?
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Man I wish I knew... Usually bitcoin goes up then altcoins follow, though it's always a bit tricky to know if that will repeat and which altcoins are the most likely to do the best... so, your guess is as good as mine.
Thanks anyway, your post's are very helpful and informative.
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The top handful of altcoins are probably a good bet though if you want to own something outside of just bitcoin.
It does look awfully like 2012 where we had a nice pump into June but the real pump happened thru Autumn into winter
Yep. The gains were steep not slow and gradual.
Well, technically that could be possible, but is there enough money available in the world of high risk investment to fuel that enormous market cap?
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Actually... with low yields and currency debasement, probably yes. :)
Oh yes. There is a lot of money sitting on the side lines. With bond yields inverted and negative interest rates, there is a LOT of money out there.
The problem is that the doorway into cryptos is small.
The rumors are that over-the-counter sales of bitcoin are double the price of what we see on trading.
Yep good points.
Yeah, I know. But total market cap of bitcoin at a price above 1 million. That is an insanely amount of value. That would be something like 2,6e13 dollars (that would be 26 trillion if I calculated that correctly). As far as I know that is more money than the total debt of the USA.
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It would be 3x the current gold market.
That would be big enough to change how the world market works.
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Yep big time, though, it bitcoin is worth $1.5 million it would be interesting to see what the purchasing power of the dollar actually. I mean if every other market is worth significantly more than it is right now as well (in dollar terms) it gives that kind of price some context.
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