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RE: Bitcoin Take A Bow...But Maybe Also Take A Break.
Great post! I don't even know where to begin to respond.
A 50% selloff would still leave Bitcoin at $2K, still a handsome reward for an investment vehicle that did not exist 10 years ago.
A 50% selloff would probably send these new crypto snowflakes into a suicidal depression spiral. They have no idea how market's work. Most of them were probably in grade school during the dot-com crash of 2000.
I've seen calls for Bitcoin $50K, $500K and $1M. Today's crypto toddlers probably expect those kind of results in a year or two.
They are in for a rude awakening.
well said. I believe in the asset (and higher prices in the future), but like you imply, markets work in a certain way. when they correct it can be brutal. yeah, I smell another dot-com crash. the current pattern on bitcoin is telling me we will see at least a 67% crash. crypto toddlers :) ...funny
Interesting... I'm curious, how far off would you estimate that crash is?
it is all speculation. however, if we get that crash , it might not be very far off. I would think that bitcoin could fall crash over the coming month or so.