Bitcoin $5,000 - Nope, still no (2013) bubble yet
Not so long ago, I wrote that - when comparing to the 2013 Bubble(s) - Bitcoin is by no means in a bubble yet.
Meanwhile, Bitcoin managed to hit $5,000 with no end in sight. Although the past is no guarantee for the future, the 2013 bubble presents valuable information to see whether we are repeating this prior bubble or not.
Well, the charts clearly indicate that this is not the case
source: www.bitcoincharts.com - edited with Paint 3D
The highs in the PVI indicator of 2013 are by no means near at this moment. Also, Chaiking Volatilty (on the weekly chart) has barely moved upwards:
source: www.bitcoincharts.com
This means that from my perspective, the Masterluc scenario still has a chance of materialising. But let's see what happens:
Happy Steeming
What is the Masterluc scenario? I don't get it...
The chart at the end of the article. The user 'masterluc' made some pretty good calls on Bitcoin price development during the 2013-time and the rise of Bitcoin from the crypto winter 2015-2016. His most positive scenario is laid out in the aforementioned chart. But that requires a kind of repeat of the 2013 scenario. That would mean that everything would have to align (utility value, speculation value, market penetration, media attention, no hard fork fuzz, etc).
The fun is: with Bitcoin anything is possible.
Thanks!
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