There's plenty of space for bitcoin to grow: ETFs, institutional involvement, infrastructure developments, regulation hurdles, and when all of this affects the price, the next wave of retail investors see it going up, get FOMO, and then it gets out of hand and that could easily be the next bubble.
It took 3 years from the end of the 2014 bear market to get to the bubble we saw in december 2017. So, i'd advise against predicting 50k by the end of the year. I'd love it, but in all likelihood, it will probably be another 3 years until we see the next top, and that will probably be 250-300k in late 2021/early 2022. Sorry to be slow and boring, i know we all want 20k in the next 2 months but let's be honest, we have to consider the most likely scenarios here and having a huge upwards spike now would be strange. Possible, but not the most likely scenario.
I'd also advice AGAINST thinking that the market has bottomed already. It's possible, but that would be a comparatively short bear market. In 2014, it lasted for about a year before it hit the bottom. That means we could well see one more move down to 5k (or a bit less) in around october. It could be over now, and it could be just a very short bear market, but again, that's not the most likely scenario. So be careful not to get too cocky too soon!
In short; it's probably best to ignore those that say we're retesting 20k in the next few months. Unfortunately it's likely to be slow and boring for the next year. And the year after that. But if you take your time there's still plenty of opportunity ahead. It's possible that the market has sped up and we've bottomed already and we'll see the next peak earlier, but that will still be at least 2 years away.
Dull and uneventful for the next year, but that's how markets work.
"It’s 2018 and bitcoin has seen a price that blew anyone’s mind who watches markets". Dude, i was there in 2014. It blew everyone's minds back then. It was crazy, everyone was talking about it, people were going mental over it. But, less people. That's why the price was lower. Organisations were being built around bitcoin then, there were new startups and exchanges coming in and that was CRAZY news. Now, it's the EXACT SAME THING ON A BIGGER SCALE. The bigger scale is why the price is at 8k not 200!
It's not the same as 2014, it's way bigger, and that's why the price is way bigger now too. That doesn't affect the way the price CHANGES.
The next bubble won't be a few news stations covering it as an end-of-show side piece like it was in november/december, it will be MASSIVE. It will be EVERYWHERE. And it will have to be, because it will have to justify a price of 250k. As the price gets higher, the required attention must get higher too, that's why this is the same as 2014 but on a bigger scale, and the price action is the same as 2014 but with bigger numbers.
;25 dollar to market cap ratio. 250b crypto market cap is really only about 25 billion actual dollars...(See @fundstrat Thomas Lee for more on that) ...ETF’s WILL get approved sometime between Aug 17th to Feb of 2019...those ETF’s have to OWN bitcoin ...supply is limited...once one is approved it will cascade...once one major player goes in, others will follow....we are on cusp. There’s huge underswell of momentum behind all this...I just don’t see as practical or reasonable at all that we need to play out some 2014 fractal scenario just because. If anything I see 3-5 huge bull runs over next 6 years with a lot of rinse/repeat behavior. Just my 2 cents.