AskLeo - Will We Have An Over $100k Bitcoin This Year?

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Bears have turned into bulls over night and Bitcoin is over 4% higher in price in the past 24 hours. The whole market is in green and to me yesterday looked like capitulation. I started believing a couple of weeks ago that this bull market replicates the 2013 one to some extent and we might have entered the second uptrend phase of the bull cycle.

Quite similar to what happened in 2013. A matter of fact both cycles replicate a sort of mass recognition for Bitcoin. 2013 has done that for individuals around the world while 2021 seems to be awakening institutions and small countries.

It's hard to collect predictions from the past of how high will Bitcoin go as a peak for the cycle but as far as I remember, most of the gurus on twitter were aiming at something over $100,000. The psychology of this market is so easy to spot and it's clear that we're dealing with a lot of dumb money as well.

I personally believe we will see a $100,000 Bitcoin for this cycle, even if it dips down to $20,000. $100k as a top is a mere 5x from the 2017 one and the past two ones have been 10x the previous one. Add to that the tectonic moves crypto is generating and it's impossible not to have a $100,000 Bitcoin this cycle.

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Blockchain technology and crypto are still infants among the googles and amazons and others, but blockchain and crypto will see themselves adopted same as amazon, google and ebay have been. It's an idea whos time has come and in my opinion it can't be stopped. Looking beyond price valuation there's a lot of positive development.

Look at what's happening in China... Miners are forced to relocate? They are doing that and Texas seems to be one of the hottest attractions for them. Dollars will start pouring on crypto once again and it will be a hell lot of a show.

We've had institutional FOMO this year, we've definitely had a bit of retail one, especially in the case of DOGE and other shitcoins, and we will definitely have more of that down the road. I still believe that at some point states will rush in acquiring themselves some Bitcoin under $100,000.

A hundred grands is a lot of money and quite a target for one damn Bitcoin, but it's quite simple how that shall manifest. If it's been to $65,000 once, it will do that again, once plebs(here referring to both individuals and institutions) will realize the path is heading to, the FOMO will be insane. I believe the road from $70,000 to $100,000 will be eaten way easier than it is from $30,000 to $50,000.

I really have no clue how high Bitcoin will jump this cycle, but I am 100% sure we will see it at $100,000. Above that level is pure speculation and mystery. What do you think though, are we going to have a over $100k Bitcoin this year?

Thanks for attention,
Adrian

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My bet has been on the under for quite some time. I don't see it breaking 100K this year. 85K area is my next big upside target, which we may not see that either.

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I used to believe in the 100k before the end of the year talk too till everybody started saying it. Now not so much, what I believe is, what does it even matter? This year, next year,...eventually it will, regardless of what anyone thinks...that’s what’s up for me

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We will hit $10,000 before hitting $100,000

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Nah, that's too low. Only something like the initial Covid panic could send it plunging that low. If a drastic price drop were to happen today, then would would bottom out at about $13.5k. That's where the completely unhyped BTC base level is cruising these days.

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I don't know how certain $100,000 is though. But nothing is certain, all we can do is speculate. Eventually, it'll get there. I just can't say I have any idea when it will.

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I certainly hope that it gains upward momentum again. I would like to see an uptrend - if nothing else it will draw more investors into the market.

I don't know if it will hit 100k, or even 80k. The key to me is confidence in the market again.

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Good post man, I agree.
I've been saying for months that we are in a similar market to the 2013 one - a sort of "double top", or rather "faux top followed by real top after a consolidation period". If things go as they have in the past, then it would be surprising if we don't see BTC pass at least $250k, with $350k being a realistic top. I would wager decent money on us passing $100k this year.

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In addition to FOMO is YOLO-- this may be the only time people new to either investing or speculation or both will get involved.

Traditional securities have too much overhead and red tape, while barriers to entry for cryptocurrencies are trivial in comparision.

For these new people, they may never get another chance to earn wealth-- or win big-- any other way.

Both FOMO and YOLO are subject to FUD, and how these new people handle the FUDsters will determine how big they win or lose out.

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What's YOLO?

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YOLO = You Only Live Once

That's a term more commonly associated with school-aged people doing new things (some of which turn out to be foolish). It can also have applicattion in terms of finance.

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Well, we just might but I do not make predictions anymore because Bitcoin and Cryptocurrency Markets ALWAYS find a way to surprise me and to go to the opposite direction of what I was expecting xD

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Yes, we will! Even a little bit higher than 100K...
The big problem with this bull run was the never-seen before shitcoin season where everyone decided to flock over to projects that add 0 value to the space.
I agree with you, bitcoin will reach 100K for sure it is just a matter of when!

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