Is Bitcoin Nearing Another All-Time High? Why, When and How Much
Plus, why a massive bull market will shock everybody.
People love predicting bitcoin’s price.
PlanB’s Stock-to-Flow model predicts $288k by 2024. Crypto Research Report’s Equation of Exchange model predicts $398k by 2030. John McAfee says it’ll hit $1 million by the end of 2020 while Bob Loukas expects $200k by the end of 2021.
While some people believe these predictions, others think they’re all nonsense.
What do I think? It’s fun to speculate.
More importantly, by speculating, we can get some perspective about what will push prices higher.
When you think things through, you can sometimes get insights that matter more than the actual numbers or statistical projections. After all, up is up, right? We want to know what drives the market up.
Bitcoin will not decide how much it’s worth. People will. Instead of focusing on chart projections, mining costs, or bitcoin’s intrinsic value, let’s look at what people will do to make the price of bitcoin go up.
But first, my prediction on bitcoin’s next all-time high — price and timing, and why I believe we will see a massive bull market that will shock everybody.
