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throwa356262

Last time I heard bitcoin was in free fall and doomed it was at $18K...

(I dont own any bitcoin and believe the world would be a better place without cryptocurrencies)

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i reckon this time it will touch $30k before hitting new high of $200k

Could be, but we don't know what is driving this meme magic. Could be totally organic. Could be not.

We have a pretty good idea. Bitcoin holders and miners promote it. Punters buy because it's going up until it peaks and then they sell because it's going down.

The a value is approx <amount average person invests in bitcoin> x <number of people> / <number of coins (~16 mil)>

It goes up over the cycles as the number of people in it goes 1 mil, 10, 100, 1000 etc.

Can't tell if genuine or sarcasm ...

very broad extrapolation of the previous two 'cycles'. after a peak, it tends to crash to 20-30% of previous peak value, goes sideways for a year or two, then goes up to 2x its previous peak.

the 'four year cycle' is perhaps moreso the 'US presidential cycle'.

Bitcoin has already largely separated from the 4 year cycle.

So you were being serious. You know the quoted figures are based on nothing...

It seems to have stabilized around $70k. Obviously after it had "stabilized" at $90k for two months, so it might drop further. But if I had to submit a bet I would guess it will fluctuate around the current level for another couple months before some random event catapults it to $150k, followed by the next "crash".

But with the current political volatility anything might happen

The anything includes gold continuing to rise and the dollar continuing to fall as countries continue to sell dollars and dollar denominated assets because of self enriching, petty policies. Why trust anything this administration says, especially as news is driven by an investigation into a cabal of pedophiles and things are decided as they are considered in real time, emotionally. This is what people wanted, I guess.

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