Reasons why BTC will become the new 'Gold': [in quotation marks, as it of course can never become a physical good] Just as predicted one and a half year ago, BTC has 'crashed' up and almost risen to 30k $! BTC, in near future, will be more favorited than Gold, in terms of safe haven. Why? - Because you can sell btc very fast and at any time, while Gold does not offer this flexibility. On the other side, Gold has always been a metal, that had times of low validation. People tend to sell their gold, because other than looking at it, is not possible [if you do not use it for jewelry]. Additionally, one must keep it safe and secret. That means, that BTC will become very attractive for the really big investments. It is much easier to deal with it, as you can keep it on a hard disk. BTC, other than Gold, is a 'currency', so you can even pay with it - though in my eyes, this will only become the 2nd important reason for holding it. I see prices of BTC not lower than 10k in future; anyone who has bought around that price is lucky and should keep it. > It is, seen from a technical-analysis as well as from a fundamental point of view just not imageable, that it could go under this level. That would just be a catastrophy and destroy all confidence and trust into this currency. People, who have bought around 20k, must be very patient and cautious, as BTC could go down to that level again at some time. But the long term trend is clearly above 20k. Other reasons that speak for my perspective: 1) First 8 years were speculative - that is totally normal for a new asset, that must first provide some sort of feedback, before it can be seen as investment asset. It must pass the speculative time; just like Tesla stocks had to pass it. Afterwards, it gets interesting for the really big boys, that do investment - and not trading. 2) Holder type changed: As there have been many spec. traders, that came into the game before (and sold at 17k, which caused a massive drop to under 4k), now there are much more serious investors in this trading floor. Btc already reaches volume of trading, that is not far away from typical assets like oil, metals, etc. 3) Big volume makes the market much more stable. And: Popularity of bitcoin is very important in this analysis, as it is the 'one' crypto currency. This is no more story of typical crypto smash, as it has been before (but foremost for all kinds of cryptos, that no one uses). I think that btc has survived the testing phase and will become a crucial investment asset in future. Have a nice year and take care!
That is the same conclusion, that many traders made a year ago, and left all opportunites passing them by... The fundamentals?! A) The volume B) The number of people, that are invested in it. What is the reason for Stock XY having its price? Exactly the same. The volume / ask-bid situation makes the price, not "real fundamentals". If you want it like that, the PR (public relation), the advertising... And in this case it is: Btc has passed its big speculative phase. Does not mean there will be none in future, but people will no longer think, as many sceptics stated before: Btc will lose all (implode) and completely disappear. That is clearly not the point. And this is, what it is about. in this first phase.
You are wrong disregarding fundamentals' impact on market price of a particular security. Anyway, I'm not challenging your opinion as this is not in my interest to do so, but I seriously interested to know fundamentals behind BTC rally. Is capital inflow and increased amount of institutional investors the only 2 reasons?
That's not fundamentals. A trash penny stock can have volume and a lot of investors, it's still zero in a few months after the pump and dump. A company can be bought out or receive a large contract or multiply revenues -- these are real fundamentals.
Now BTC price is going to the moon, Mars, and beyond. It will definitely crash down massively and we don't know when. If that happens, then it might be TULIP MANIA #2. The last Tulip mania happened 550 years ago. BTC has the potential to be Tulip mania #2. Hope we can experience the Tulip mania soon. I will laugh when I can experience the Tulip mania #2. BTC futures margin requirement is damn high at $60K. It is probably the highest in the world. Soon margin requirement might exceed $100K, $500K, $1000 000 or beyond! 2nd highest is DAX at 45k euro. BTC futures volume traded is still not that high (about 8K / day). When is CME going to introduce mini BTC to improve liquidity ?!?!
I am going to save this post and will come when it gets down to 3k again. Then my laugh will be a lot more annoying.
i paid 5 cents for my bit coins bought with 100 mad money figured wth. now i am the one laughing when people say it will go down to 3k so what lol. i still have the emails i sent to friends encouraging them to investigate bit way back sub 5 cents and i guess they are getting tired of me reminding them and no longer muh friends ;( ho well.