The top is temporary with Bitcoin. Every FOMO bull market Bitcoin had was accompanied by an acceptance milestone followed by a long period of digestion. Buying a pizza, tipping bots, buying drugs, online merchant adoption and futures on legitimate exchanges. Every FOMO period sparked interest in building infrastructure for the next milestone, but this takes time, hence the cooling period. We have overshot as evidenced by news of 1 bitcoin transaction costing $80, so a correction is necessary. We're going to enter a bear market while Lightning Network gets deployed and content providers integrate micropayments.
Interactive Brokers has set the margin requirement for BTCUSD futures at 50%....which sucks. http://www.cmegroup.com/education/cme-bitcoin-futures-frequently-asked-questions.html Above are the CME Group's BTC Contract specs... noteworthy: Each contract = 5 bitcoins; minimum block trade size = 5 contracts Circuit breakers at 7, 13, and 20 percent from prior close. So to trade 1 contract, you will need about $38,000 in margin with Interactive.
This can go on for a very long time. In 1998-99 when the internet bubble was going parabolic all sorts of people would be chattering about how much they are making from NTBK, QCOMM etc...this went on for a while until the rug got pulled out from the bottom, and the pain was still being felt by the shorts. peace.
If you invest right now in BTC, you know that you must follow the market constantly. Learn everything about trading, not anyone can say that it is financial in terms of cryptocurrencies, that you teach courses or your career in the stock market.
Agree it can go on for a while. I have no idea if this is the top. What I am saying is that if the bitcoin rally is at the point in time in which middle aged women with no financial knowledge and kids not old enough to drive are wanting to buy bitcoin, and frankly probably have no clue how bitcoin works, that can't be the best thing for bitcoin as a bitcoin bull rally cannot be sustained by those demographics. Unless financial institutions get involved with buying bitcoins, you really have to wonder how many more young to middle aged guys are left to buy this? (just my guess on who is buying bitcoins) For financial instutions to get involved bitcoin would have to undergo all of the regulations invovled with that and that would kind of defeat the purpose at this point.