What would continue to drive the market up higher from here? Serious question.
What always did.
Bitcoin is an excellent store of value. Can't be confiscated. There are 16,4 million bitcoins currently in circulation. There will be only 21 million. There are more than 7 billion humans on this planet. Central banks are printing new money in hundreds of billions every month. This is more than enough to drive bitcoin price to really insane levels.
Yes yes, those are all valid reasons long term for the price of bitcoin to rise to great new heights in the future.
So let me rephrase my question.
What specifically will be so earth shattering for Bitcoin within the next 6 months that price will rise from here to "insane levels"?
You guys do realize that the total crypto market hit a high of $116B, and now with even this mega pump we are only back up $92B? Not even back to over $100B, nor do I see that happening within 6 months.
I agree completely. Nobody doubts that long term BTC will rise enormously, but short term, we should look at the MarketCap from end of May this year, and use that as orientation. The rise of coins in spring was to fast..30-120 M. So short term, I am bearish, especially for altcoins..
No need for euphoria in short term...let's be objective.. In 2017, the coins already went up very , very high..more than enough.
I am still cautious.. mid- to long-term I am very bullish.. but short-term (next 2 weeks) it is possible that we could test 6k again... hope not but it could happen...