No, seriously though, have you?
This is getting out of control.
We are ascending the market cap at a rate even faster than we did in 2017. Seriously, where is the price going? At this rate it could easily breach the all time high and cap out at something ridiculous like $40k-$60k.
Look at the dips. There were basically three dips in 2017. We only have one during this summer bull run, and people still have the audacity to mention that we might still be in a bear market. We were literally never in a bear market. People are just impatient and greedy due to scarcity mindset.
https://steemit.com/bitcoin/@jrcornel/bitcoin-fun-fact
Bear market? What bear market are you referring to?
So my conservative estimate for where Bitcoin was going this summer was 12k down to $7.5k... but I don't know now, this spike is getting out of control. We'll have to see what kind of resistance 12k brings, and what kind of support emerges from that potential dip.
Just a reminder
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
|---|---|---|---|---|---|---|
| $100 | $200 | $400 | $800 | $1600 | $3200 | $6400 |
| Jan | Feb | Mar | April | May | June |
|---|---|---|---|---|---|
| $3467 | $3733 | $4000 | $4267 | $4533 | $4800 |
| July | Aug | Sept | Oct | Nov | Dec |
|---|---|---|---|---|---|
| $5067 | $5333 | $5600 | $5867 | $6133 | $6400 |
This still remains my prediction for the absolute base value of Bitcoin at any given time. The value is doubling every year. Could we crash to $5k? Sure we could. Volatility breeds volatility. The higher the spike the lower we have to assume the crash will bottom out at.
Speculation
I'm playing the gambling game and sold a tiny bit of my Bitcoin hoping for a flash crash when it hits the 12k level. Honestly though, with how little resistance there seems to be, this could be an epic backfire. I don't think we'll see true corrections until we make it past the summer time. September and October will be my accumulation months, hopefully.