Bitcoin appears to be holding above $16,000, and cryptocurrency traders are pondering the next move.
Bitcoin is now up an 127% in 2020, versus 9.5% for the S&P 500 and 24% for gold.
The big market debate now is if and when bitcoin returns to the record high price around $20,000 reached in December 2017.
Alternative.me’s Crypto Fear & Greed Index has pushed into the “extreme greed” zone, from a reading of “neutral” just last month.
Hi,
This is a fantastic subject, especially for anyone who actually bit the bullet and bought BTC any time during the past almost 2 years. I do have an exit plan that sweepingly states “sell one quarter of the value every doubling of the value”, but have only put that into practice twice in the first six months of my “Crypto get rich slow scheme”, and I think it needs modifying with a well documented Trading plan to augment the longer term investment. They say that “history is no guarantee of future performance” but I do think back to the stories of “somebody buying a pizza for 2 bitcoin”. Since inception, Bitcoin has gone up sixteen million times in value over 12 years. Apart from the brief period in 2017 where it reached the Euphoria stage of the market cycle, it has been to the moon several times over. So I suck up most of the moon stories, and my expectation is that $20K will be exceeded before Mar21, that 2022 may see $100K and that long term, BTC has a chance to be valued over $1M. If that doesn’t happen, I will be no worse off. If it does happen that is a X100, and worth a punt with 1% of anybody’s wealth.
