Look familiar? This is Bitcoin, but don't be fooled, this run up is one from the past. Back in 2013 Bitcoin ran from $100 to $1100.
Later Bitcoin crashed all the way down to $420, absolute despair.
The only difference between now and then is the length of the bull market. The Bitcoin bull market only lasted 3 months. This market for Bitcoin has been going for quite some time. When will it end? Are we even half way up the ladder? It's so hard to say
What do you all think?
The question is are we going through a hyped up bull run and will experience a major correction after or is this an adoption phase we are going through.
If you look at graphs from the internet adoption phase they don't look too different.
Personally I think we're going through an adoption but will have a correction to 12k if not lower. Then new ATH's after. Simply because it's just been too parabolic. Any thoughts?
Edit: Here's a graph:
That would depend on what you consider to be adoption. Right now people are holding cryptos not for adoption but for speculation. Really the only cryptos I think will be useable as currencies are steem (and sbd) litecoin and bch. Bitcoin can no longer feasibly be used as a currency. It's hard to come to terms with, but I think there is foul play with bitcoin. Maybe it's wallstreet gaming it, maybe it's the globalists at AXA controlling Blockstream. I'm not one to say with certainty. I feel like right now may be a mania to get rich rather than to change our money system (for the majority of crypto users). I believe in adoption but it makes it tough with all these people hyping it up to get rich. And don't even get me started with all the different ponzi schemes!
Further more... Sorry for going on lol... Would it even be worth it waiting until the "despair" phase of the market where all hope is lost? Will that phase even have prices like we are seeing today?