With big money coming in to Bitcoin now, plus China, I think a $300/$400 price tag is quite reasonable.
Most importantly, public perception is much different than 6 months ago. Bitcoin is no longer viewed as "the popped bubble" that clearly was a scam and dismissible. Bitcoin has surpassed the previous "bubble pop" in under 1 year. The technology is actually taken more seriously. People are taking the time to actually understand Bitcoin. This is easily observable in just the media's presentation of Bitcoin over the past few weeks. It's hard to think of a more powerful and motivating outcome, than something that fully recovers and surpassed a previous ATH in such little time. That is a serious statement to people on the outside. Public perception, when there's so much usage to gain, is most important. To dismiss it as so insignificant is, I think, a mistake.
Thoughts in context.
sure, this is true, to an extent, but much of this is perception in the context of a bull market. but this is how it should feel in a strong bull market. that's the exuberance. good news is that much better and bad news is that much less important. Most importantly, public perception is much different than 6 months ago. Bitcoin is no longer viewed as "the popped bubble" that clearly was a scam and dismissible. Bitcoin has surpassed the previous "bubble pop" in under 1 year. The technology is actually taken more seriously. People are taking the time to actually understand Bitcoin. This is easily observable in just the media's presentation of Bitcoin over the past few weeks. It's hard to think of a more powerful and motivating outcome, than something that fully recovers and surpassed a previous ATH in such little time. That is a serious statement to people on the outside. Public perception, when there's so much usage to gain, is most important. To dismiss it as so insignificant is, I think, a mistake.
Thoughts in context.
.....until reversal.