There have been many articles and rumors around the speculative price bubble forming in
BTCUSD
(and the cryptocurrency market as a whole)
Today, what would mean a bubble with the size of the one formed back in 2013?
It would mean a 5127% increase in the price of
BTCUSD
from the level it broke the resistance in its logarithmic trend. In the course of 11 months.
This equals, approximately, a price of $102,000 per Bitcoin and a market capitalization of $1.725T (One trillion and seven hundred twenty five billion dollars)
And if we hit that number we'd be all popping champagne bottles.
However, we are very far from such a bubble- $1.65T (One trillion and sixty five billion dollars) to be precise.
For that reason we can only enjoy the ride, sit back, relax and wait for the dollar to inflate itself.
To the moon!
BTCUSD
(and the cryptocurrency market as a whole) Today, what would mean a bubble with the size of the one formed back in 2013?
It would mean a 5127% increase in the price of
BTCUSD
from the level it broke the resistance in its logarithmic trend. In the course of 11 months. This equals, approximately, a price of $102,000 per Bitcoin and a market capitalization of $1.725T (One trillion and seven hundred twenty five billion dollars)
And if we hit that number we'd be all popping champagne bottles.
However, we are very far from such a bubble- $1.65T (One trillion and sixty five billion dollars) to be precise.
For that reason we can only enjoy the ride, sit back, relax and wait for the dollar to inflate itself.
To the moon!