You, one day, will understand that Bitcoin was created by the cyberpunk community. And sadly has become another financial product deeply included in the wheel of products linked to the dollar. Maybe when it drops in price to an affordable value for the mass, you will understand it.
The bull market cycle is not over, yet, so we still do not know how high bitcoin price will go this year, It is a waiting game and can be frustrating, but we went through this last year, that was more painful, waiting for bitcoin to go above $75k, for 8 months! I think bitcoin will go above $300k before eoy Bitcoin is not get-rich-quick asset, that is why I describe it as our family's life savings account, only spending (selling) what we have to Bitcoin will be above $1M/btc within 5 years, short term price action is noise
You have conflicts on your reasoning, you say bitcoin is useless, but then you say big money like corporations and billionaires are buying it that's why the price has gone up to $95k Why would corporations and billionaires buy something that is useless? No, bitcoin will go up to $1M, $5M and much higher because of adoption bitcoin is the best money in the history of the world, less than 1% of the world population has understood this, and yet, it's already ~$100k It's still very early. We have time, low time preference...
Its embarrassing how little you understand bitcoin, and even more embarrassing how sure you are of what will happen. When the masses come to bitcoin, you think the price will be lower? Jesus Christ... its already $95k and the masses aren't even here yet. What do you think will happen to the price when the masses are coming?
We arent,of course,there right now but I was responding to you saying that 200K was too high to become a reality. We have doubled many many times already when they said it couldnt go any higher.
Bitcoin hit $1k in the beginning of 2017 and ET posters thought it would take a long time before bitcoin will double and hit $2k Within 11 months, bitcoin price doubled, then doubled again, then doubled again, then doubled again and hit the peak price of $20k https://www.elitetrader.com/et/threads/poll-when-will-bitcoin-hit-2000.309325/#post-4459553
It is very easy to double levels when amounts are small, look at penny stocks for reference. Some of them double on a daily basis.
Yes, you are correct, bitcoin price will most likely move at a slower pace compared to its past percentage moves That is why I say $1M within 5 years which will cover another halving (epoch) cycle in 2028 However, no one knows the future, there is also a possibility of a supply shock as nation states, central banks, corporations, pension funds, millionaires, billionaires, all are fighting for a limited supply of bitcoin available for sale Bitcoin did not have these types of buyers in 2017 Bitcoin is a $2 Trillion global monetary asset available to every single person on the planet