Posts

Where do you think Bitcoin will stabilize?

avatar of @fredrikaa
25
@fredrikaa
·
·
0 views
·
2 min read

It's been a wild ride ever since late fall. It feels like forever since Bitcoin was hitting against $10,000 shortly after the halving event, at which point, it stayed there for a couple of months.

Bitcoin price chart as seen on Bitfinex Saturday 20. February 14:00 CET

Since passing $20,000, however, there has seemed to be no stopping BTC's continued growth. While it's exciting to watch for sure, the inevitable question should be "where will it stop". Even if we believe (as I do) that Bitcoin will go to $125,000 sooner than most people would have thought a year ago, there will be people taking profits along the way now that we've seen north of 500% growth in a short time span.

This question is again meaningful not only with regards to BTC, but also for alts. When people anticipate BTC to keep on rocketing, they tend to avoid or sell alts to ride BTC. So timing the next time BTC will stabilize is also the same as timing the next alt season, which as seen by HIVE's growth from 350 Sats to 900 in a relatively short time-span can also provide great returns.

My own best guess is that the price has gone up so fast that very few people have really had realistic targets for prices to sell at. Thus, 100k could very well be the next time when a significant number of HODLers will feel that they've reached a long term goal where they would want to sell. But that's just a wild guess at this point...

But when and where do you believe BTC will begin to either slow down, correct and/or stabilize? I'm curious to hear your best guesses in the comments below and also how you try to analyze and answer such questions if you do.

Bull on!

Posted Using LeoFinance Beta