It is good to be bullish, but we must not take our feet off the ground, a BTC at $500,000 would have a market cap of 10.5 Trillion, more or less 3 times the market cap of the entire current crypto world
Eternel insatisfait
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I think comparing this bullrun to 2021 is a mistake & we should be looking closer to 2013 & 2017. I believe the 2021 run had the wind knocked out of its sails by COVID, an overly aggressive SEC & many other factors.
This time around we should have an SEC & government that is Bitcoin/Crypto friendly. We have counties, states, & institutions rushing in to create Bitcoin reserves.
If you remember 2017 everything was flooding into Bitcoin then ETH as an entry to the ICO market, which later caused the crypto winter.
This time #Bitcoin is the target for most of these major players. Yes, there will still be an awesome Altseason. I just think those calling $150k - $250k might be a little low on their $BTC ATH estimates this time around.
Like with all bullruns outside influences play a big role, but if the US government becomes more friendly, they ease up on regulations and the world follows (as indicated), we could see a run closer to 2017, which would spill over into the rest of the market.
That fact is, we've hit adoption. Major counties are now recognizing Bitcoin. The Fed recognized it as Gold 2.0 and we're not even in 2025 yet. I believe we have a lot of room to move up in 2025. Probably not to $1M, but I think $500K is entirely possible. NFA
That happens because there is excessive leverage, I recommend that if you are going to trade, you should always refer to the RSI; if it is above 80, it is best not to trade.
During the last few weeks we have seen that ETH has appreciated quite considerably; almost 200% from its lowest point in October 2023 and 72% from January of this year.
Although we have not reached the amount of $3000, with just $15 in arrival we are practically there. This is not resistance that has existed in the past, however, at $3,200 it could represent significant resistance.
Furthermore, if we take into consideration that in the month of May there is a probability of a possible Ether ETF and at the end of the year it is almost certain, we should not be surprised if we see the price increase disproportionately.
In the meantime, I'll take advantage of this beautiful climb from October 2023 to today.