Hi albalaha.
I agree it could continue the upward trajectory. Though my research back before the ETF introduction was that it could hit <= 50,000 prior to <= 4/24. I also feel it could someday hit the ~~85,000 range prior to plummeting once again. I'm most certainly not suggesting it has any intrinsic value. I'm just suggesting it could indeed go much higher and people can indeed make money with it. IF their timing is right.
It's my opinion the artificial manipulation is very clear. Personally, I do not currently own Bitcoin, though I have recently purchased two installments($13.01,$11.50) of BITI (Proshare Short Bitcoin Strategy ETF), which moves in the opposite direction of Bitcoin futures. Its my opinion we will see significant decline in Bitcoin <= it hits 50,000. If I owned Bitcoin I certainly wouldn't leave my positions in an unprotected state as it could move (5%--15%) overnight or within a few days.
The hype schemes from early buyers and large BTC holders is reminiscent of other ponzi-type schemes such as the Tulipmania: About the Dutch Tulip Bulb Market Bubble.
https://www.investopedia.com/terms/d/dutch_tulip_bulb_market_bubble.asp
Some of the nonsensical headlines I saw this past week include:
Is Bitcoin the new gold? Cathie Wood and Fidelity
Investing in 'Gold'--Via Bitcoin--Is Cheaper Than Ever
Why Bitcoin won't reach $1,000,000 but you should buy anyway
Is Bitcoin the new digital gold
Continued Success,
I agree it could continue the upward trajectory. Though my research back before the ETF introduction was that it could hit <= 50,000 prior to <= 4/24. I also feel it could someday hit the ~~85,000 range prior to plummeting once again. I'm most certainly not suggesting it has any intrinsic value. I'm just suggesting it could indeed go much higher and people can indeed make money with it. IF their timing is right.
It's my opinion the artificial manipulation is very clear. Personally, I do not currently own Bitcoin, though I have recently purchased two installments($13.01,$11.50) of BITI (Proshare Short Bitcoin Strategy ETF), which moves in the opposite direction of Bitcoin futures. Its my opinion we will see significant decline in Bitcoin <= it hits 50,000. If I owned Bitcoin I certainly wouldn't leave my positions in an unprotected state as it could move (5%--15%) overnight or within a few days.
The hype schemes from early buyers and large BTC holders is reminiscent of other ponzi-type schemes such as the Tulipmania: About the Dutch Tulip Bulb Market Bubble.
https://www.investopedia.com/terms/d/dutch_tulip_bulb_market_bubble.asp
Some of the nonsensical headlines I saw this past week include:
Is Bitcoin the new gold? Cathie Wood and Fidelity
Investing in 'Gold'--Via Bitcoin--Is Cheaper Than Ever
Why Bitcoin won't reach $1,000,000 but you should buy anyway
Is Bitcoin the new digital gold
Continued Success,