Bitcoin at $50,000 Will We Continue The Climb or Come Crash Down
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Who thought in just a few months time we would go from $20,000 all the way up to $50,000 per bitcoin. The marketcap is now at $1.5 Trillion and holding steady while bitcoin is just about to cusp the $1 trillion mark. Perhaps that's the catalyst for the next sell off?
The thing that's different about this upward trend however is that major corporations are now buying into bitcoin as they start to fear being left behind.
We need to remember however there are FEW people who actually hold the majority of bitcoin and continue to gradually sell it off to these corporations coming in.
It also looks like money is currently flowing back out of altcoins and being injected back into bitcoin for the rally. That could spell disaster for alt coin season in the short term however make for a huge buying opportunity again for those tokens and cryptos you believe in.
That leaves us with the big question. Where is bitcoin going next?
To me I feel like we are due for a heavy correction like we saw last time bitcoin rallied. But there are key elements this time around that are happening that didn't happen back in 2017 and that is much less confusion on the tax front, hype from influencers and companies buying into bitcoin which is starting to scale up as FOMO starts setting in for these companies who want a stake in crypto.
This is going to lead to major new milestones however it's hard for me at least to gauged where that final point is reached as to when a correction will happen. If it even will happen! As I said there's major new forces in this rally compared to that of three years ago.
Next stop $100,000 ?
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https://twitter.com/bitcoinflood/status/1362048894432124930
I’d love to see a nice correction, maybe end of feb or March as it has been mentioned. But I’m afraid it’s different this time and we are heading explosively towards 100k.
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I highly feel like one is due but with how many companies are coming on board now I feel like that's not going to happen. Unless one of these whales decides to sell off and take the massive profits. Still a few people hold a majority of the wealth in bitcoin.
Wallets with over 100 bitcoin in them right now is 62.27% right now. That's across only 16,000 wallets.
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Same I feel corps are now entering and that can only push prices up.
16000 wallets is a very thin number, I wonder if those would ever sell tho, do they need it ? Aren’t they better prepared for the future if they keep it.
I would understand a normal guy with 5 BTC will just sell it at those prices but whales maybe not.
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You could sell off half and still be well off if bitcoin takes off or not lol cover both angles
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I see 100k by end of the year! There's so much interest as you have mentioned with institutional fomo slowly kicking in. Good insights!
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100k would mean a 2 trillion dollar market cap. That's starting to get up there. Double the rally which we have seen now. It starts to lose it's hype value as the price climbs as it takes more and more money to get those big % gains everyone fell in love with. Still very possible
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What really matters is less and less BTC takes part in price discovery process.
Even $100000 USD in FIAT can drive price UP like crazy, if ( IF) there is not enough BTC available, for sale.
To move market cap from $1T to $2T not 1T additional FIAT is required. Far from that !
All is needed - those who hold now BTC , to refuses to sell at prices below $250K per 1 Bitcoin
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That's a very good point. There is limited supply, less inflation and I'm sure there's a good amount of bitcoin lost and locked up in wallets people have lost access to over the years. All of this contributes to less supply, less inflation and an increase in demand.
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2 trillion dollar market cap sounds intimidating until we think about how gold is up in the 9 trillion area. We would need to see a lot of things go right, but let's see what happens!
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I see 280K by October 2021
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That sounds incredible. I will be rigorously stacking sats while your prediction begins coming to fruition.
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I had faith we would hit $50K but we hit it faster then I thought we would.
I am still buying and increase my buys at pull backs, but I am also loading up on a few other cryptos.
I guess the "magic internet money" is finally legit.
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