What if the parabolic move back in 2017 ends up being just a small blip on the radar to where we heading?
Do you remember 2017?
You should, it was pretty much the year that put bitcoin and crypto on the map as bitcoin ran up roughly 20x from $1k to $20k in the same calendar year.
By all accounts it was a parabolic moon shot.
Looking at the chart it was pretty hard to imagine we would ever soar above that again let along dwarf it like we are now.
What if the rally back in 2017 ends up looking like the rally before it back in 2013-2014?
Like another blip on the screen?
(Source: https://twitter.com/dergigi/status/1360042048951361537/photo/1)
When it's all said and done we look back at this chart and all that price activity in late 2017 ends up looking like a little bump in the road similar to how the 2013 bump looks now.
I am not sure that's how it's all going to play out, but if bitcoin is going to go to these crazy high numbers many are predicting, that's exactly how the chart is going to look.
It's the main reason people like to use log charts when plotting bitcoin's trading history.
The moves up are so large that it makes everything that came before it look like it little speed-bump, when really it was a 20x (or more) rally.
As long as the government stays out of things I think we have a really good chance to see it repeat again this time around.
A 20x move from the previous $1k high, took the price to $20k. The same move this time around from $20k, would take us to $400k.
Something to think about.
Hopefully this pulls steem way up with it.
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I don't think it goes to $400k, but $200k seems possible to me.
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We need to get through $100k first which will be a tough nut to crack.
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I really don't think this is over until 2021 makes 2017 look like 2013... correct.
I've been saying this since 2018, when I was teaching friends at my day job about Steemit and Bitcoin before I left to work for Steemit!
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You and me both. It's the reason I've been holding everything since 2018 and bought more on the dip. How high does STEEM go during this run?
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Steem could surprise us... I really think so.
The fact that Steem is mostly Koreans now is HUGE... we could see a new wave of Korean-driven price action.
Korea was the primary driver, I think, for SBD going to $15 in early 2018.
Also, owned by Justin now who has a big incentive to see Steem high to bring more users into his ecosystem.
*This coming from someone who got lucky to make four trips to Korea in 2018-2019 for crypto business.
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Lot of good stuff in here...
Yes the surge of SBD to $15 was on the Upbit Exchange, which is Korean. So like you I do like the implications here being mostly Korean now.
Some things I wonder about though....... Why is Justin Sun not advertising Steemit.com more? Why is he not even posting on Steemit.com and then sharing those posts on Twitter etc when he wants to tweet something? It's an easy way to drive traffic to Steemit.com that he's not doing.
Also, why are they not marketing STEEM more in general? It seems like they could market steemit.com and steem all over Korea and really have this thing explode but they aren't doing that, why not?
Thanks for the replies btw, lot of good info and discussion!
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Good questions!
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Any thoughts on em?
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The Blockchain War hurt his reputation in the industry beyond what he even paid for the whole company.
I've always thought Steem is a diamond in the rough. There should be a 'social' coin firmly planted in the top 20 on CMC.
The fact that there isn't, is a HUGE opportunity for someone to crack the nut right.
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But it doesn't really look like those pulling the strings plan to even attempt that with STEEM considering they don't even post on here or market things?
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@jondoe I think that justin sun is not interested in steemit, because today the support of steemit leaves a message that the platform is in beta version and this I know because of the theft of my husband's account @hugojimenez that he has not recovered and they are going to steal your steem if you can help make this happen I appreciate it.
My husband's account is being phished to steal passwords, help me report it so they don't steal more people
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Also, I think bitcoin is going to peak around $200k, what price are you looking at?
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I want the market cap of gold!?! $450k!
Even though I sort of expect to see that price this year...
And even if it is a barely tangible short-term parabolic move at the end to hit it...
It will surprise me.
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Yea I think it eventually gets there, just not his year. Too far too fast in my opinion. I think we are going north of $100k and possibly as high as $200k. We shall see.
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Though I thought we would top at $10k during the last run, and it doubled my prediction. So, a double of that $200k number would be $400k. Hmmm. :)
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