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RE: Are We Reaching the Peak for Bitcoin?

in #bitcoin7 years ago

Yes/No. We're on an S-curve where it is said by people more knowledgeable than me that blockchain tech (and by extension the crypto currencies and the crypto tokens for various platforms and applications) are in at the 1-2% penetration GLOBALLY. If you think of what happened with prices in 2017 with just that amount of penetration, just image what happens when the rest of the herd (not to mention direct institutional buying --and more of the top 1% money--) steps in.

Is there a change of a psychological blowout that pushes the price of BTC and other big names down 20-30-40%? Sure. (It would probably be exacerbated by the newbies and the uniformed who panic-sell,) but the fundamentals that drive people into these tokens will still be there, including the implementation of the underlying technologies.

If you compare this to the dot.com mania and the real estate mania of the last two decades, with the advent of social media and the higher degree of information connectivity, things move much more rapidly and we're better informed which ties in to my next point: we've never experienced the implementation of such a wide reaching S-Curve with this level of connectivity. As this ride moves forward, we are going to have to continually expand our frame of reference. We've never been on a ride like this.

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