Another bull to the herd! I agree with another commenter when he says "people buy bitcoin for the price they deserve to buy bitcoin at". But it's also true that they pay what they pay for less risk. There's no question buying Bitcoin today holds less risk than it did even last year. The downside is still the same: it could go to zero. But that's a lot less likely to happen with the kind of belief and institutional players now in the market. It was way more possible before these players bought in and it was trading at $5000. In my opinion, its still an easy 10x from here vs a negative .5x in fiat.
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