Bitcoin $10,000? why:
- People buy and hold.
- Buying and holding means NO liquidity in the market
- Bitcoin gets a lot of attention. Even Big Bang Theory is going to use it in one of their shows.
- Most people who buy, don't know shit about Bitcoin. Means they only speculate.
- People buy bitcoin only because they see the price goes up, not because of the fundamental value of it.
These are the characteristics of a bubble.
BOOM!
Couple weeks later the bubble is imploded.
Wall street Journal headline: The Bitcoin bubble crash
Our last couple bubble snaps had around 80% price fall.
Just so you know:
$4000- $5000: 61 days
$5000- $6000: 8 days
$6000- $7000: 13 days
$7000- $8000: 14 days
$8000- $9000: 9 days
$9000-$10000: 2 days
Think about it... nothing grows forever (not even tulips).
But... no worries, it will go up ultimately.
Bearish for now, bullish for the future! :rocket: