And to think, one year ago we had the fad of Bitcoin Christmas gifts. I know some intelligent people in tech who bought into BTC and ETH around then. Sub-$1k BTC by year's end is a real possibility.
The world cares about useful things, like the ability to wire money with low fees, or being able to buy a pizza. Very few care about holding onto an asset hoping that it will go up indefinitely... and it never does if it isn't needed for daily use by many others.
I think sub-1k btc is extremely unlikely. The history of BTC's growth and crashes is strikingly similar each time. It goes up 5-10x, then crashes to roughly 2x where it started, stays still for a while, and then repeats. I'd be willing to make a bet with you that it won't go under $2k by years end, if you'd like :)
How do you support the statement "It goes up 5-10x, then crashes to roughly 2x where it started, stays still for a while, and then repeats"? It was flat for a long time, it rapidly peaked at somewhere north of 19k, and has been on a fairly steady decline for most of the past year, with occasional price spikes.
If what you say was true, the price would be rising. Which it's not.
Fair enough, I was looking at a chart that apparently didn't go back that far. However, looking at another chart that goes back to mid 2010, I don't see it either.
Can you point me to a chart and time frame during which the behavior described was occurring? It looked like it did something sort of like that (but not at the magnitudes described) a couple of times in the runup to $19k in late 2017, and I see a big spike in late 2013, but I don't see any sort of real pattern of any type, other than the fairly consistent small price spike after a big drop that comes from people buying at bargain prices.
Haha totally. I was thinking of that as I made that comment. Would be happy to put funds in escrow though, as long as whatever it is is not too annoying.