The cryptocurrency industry has seen a MASSIVE run up for the past few months with everyone hyping the price. We've heard everything from 5,000 to 10,000 dollars per Bitcoin by the end of summer and the end of the year. Yet, from all the evidence I've seen it seems more likely that the crypto market as a whole was in a bubble and now we're beginning to see the early stages of a bear market
This in no way is a rip into Bitcoin or cryptocurrency as I'm a huge supporter of many of the projects out there but we do still have to look at things rationally and logically.
Yeah, the price speculation is pretty ridiculous. I think $1,000 is low though considering the recent halving, overall scarcity and HODLing for monetary and strategic reasons. Also with adoption by Japan, Australia, Canada and others, the situation is a little different than in 2013.
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Good point, I clearly have no idea what the price is going to do but just from what I understand the market is showing some bearish signals.
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I agree. Thanks for the post!
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