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RE: 5k Again It Has To Be Said - Bitcoin
Excellent recap.
What a surprise? The Chinese are getting back into bitcoin? How many times did some of us post that the Chinese were NOT going to get out of Bitcoin nor were they looking to eliminate it. The Chinese government wants to control it, at least within their borders. That means state run exchanges and mining operations.
I think this run heads towards $6K before pulling back. Some of the EW people are calling for a major pullback...it could happen I guess. I look for BTC to be $25K by the end of next year.
Good insight, for sure there will be a pull back once the hard fork happens and people get their bitcoin gold they think they will be getting from this hardfork. Besides that I don't see any current bad news that would push it down at the moment. 25k by end of next year would be pretty sweet!
I think Wall Street money pushes it higher.
We know there is $500M going to be unleashed after the first of the year by the announcement yesterday. To me, that is just the first of many.
Bitcoin still seems to swallow up about half the money coming in. Will this drift downward over time...it might. Either way, the money will be so great that it will go higher.