I think people will panic sell every $10k increment it his. We saw huge dips when it dipped below 50k and 40k, and it hasn't recovered to it's high since. I think it will grow long term, but will be extremely volatile in the short term.
btc is heavily, HEAVILY manipulated by the chinese. Almost all the volatility you see is them selling and then buying back. Why? To psyop americans/west. Think a min-covid every 6-8 weeks. Unfortunately, due to knock on effects (mainly panic selling) it drags down every other currency.
It really just all depends lol. BTC will compete with CBDCs for market share and central banks don't like competition.
In a free market BTCs value would increase against the dollar at an annualized rate based upon inflation via money printing.
The markets arn't markets though. They are digital casinos designed to siphon the wealth of labor from the many to the few. The order flow I think is the key to the ponzi. The ability of holders to form cartels of price movement, dictated by a harmony of mathematical precision, in order to extract incoming money from smaller firms and retail investors/traders.
Say time T is a positive integer of seconds until you sell realizing losses( finalize the wealth transfer ).
Institutional time T is always greater than Retail time T. So they take your orders, set price and wait. Since they are electronic and establish themselves as close to the exchange as possible, they know everything about the orderflow before anyone else. This enables their price fixing scheme. They know where the stops are.
I could be wrong but I think the criminality of the US financial system is beyond the scope of most people to imagine, therefore they do not think of it or conceptualize it. The SEC is also in on the game as well.
bitcoin is too slow to compete with cdbcs and the fees are too high.
That's like throwing away the notion that Ebay isn't a competitor to Amazon because they don't sell as much as Amazon....
Its not going to compete with cbdcs. 'digital gold', maybe.
BTC isn't fast enough to be used in every day transactions.
Good input, thanks for everyone's help. I plan to ramp up buying at 30k, level I set when it began dumping, unless we start seeing another leg down. It's interesting to see 10k winning the survey. I honestly never fully considered that a possibility in the next six months. I'll be keeping that in the back of my mind now though.
(post is archived)