I don't know what to make of it. I'm not in any crypto right now, and the only reason I want in is for FOMO (fear of missing out). That's a terrible reason to invest in anything.
And with how volatile this is, everything tells me to avoid it like the plague.
It's very conflicting. I could see it hitting 100k next year, or also disappearing completely. How do you invest in something like that?
its irrational and reminds me of the tech bubble...
but crypto is a whole other ball game.
Really hard to say wtf will happen.
I just keep thinking that as new entities support it, and support the trading of it, it's going to continue to rise until it hits its "global cap". 7 billion people in the world and as more learn about BTC, each person will want a piece of the pie.
Only 21million BTC will enter circulation (currently just over 16mill in circulation).
Eventually people will be talking about smaller BTC denominations (satoshi), and an actual 1 BTC will be rare to "own".
This is looking forward 20-50 years obviously.
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But there is still the threat of other crypto rising and taking share from BTC. Especially if its better tech and becomes "official" govt currency.
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Just extremely hard to predict, but I'm not seeing it ever hitting 10k again. Maybe 13k short term but next year it'll be in the 20s if not higher.
