If $30k holds, BTC will seek out $50k, with a $125k target in mind.
If $30k fails, $20k is the floor that needs to be tested.
BTC has maintained a constant uptrend since its inception. Long-term prospects for next target ($125k) are still good as long as BTC remains above $12k. Anything lower will indicate changing trend and should flush out many hands.
Concerns over Bitcoin's energy consumption are valid and tangible threat to BTC's growth. In the world of tech, being first to market does not guarantee long-term success. Bitcoin was able to experience explosive growth due to their single-hand dominance in the crypto-currency market. Now that there are hundreds of competitors who are multitudes of times more efficient than BTC, we can come to agree that "past performance is not indicative of future performance."
Note: Logarithmic scale used
If $30k fails, $20k is the floor that needs to be tested.
BTC has maintained a constant uptrend since its inception. Long-term prospects for next target ($125k) are still good as long as BTC remains above $12k. Anything lower will indicate changing trend and should flush out many hands.
Concerns over Bitcoin's energy consumption are valid and tangible threat to BTC's growth. In the world of tech, being first to market does not guarantee long-term success. Bitcoin was able to experience explosive growth due to their single-hand dominance in the crypto-currency market. Now that there are hundreds of competitors who are multitudes of times more efficient than BTC, we can come to agree that "past performance is not indicative of future performance."
Note: Logarithmic scale used