Nothing ever happens quite how we expect, but I think that the next bubble is virtually assured at this point. The timing is the only wildcard, along with what the peak will be.We saw the bottom come in at $5900, and the rush of true support flooding in to punctuate the end of the latest bear run. Now we are in the slow froth and churn that marks the beginning of the next exponential expansion.Wall Street is getting fired up, as are funds and banks. The "do not sell before" embargo sticker has been lifted off of bitcoin and our street date has arrived. The most prominent minds in the world are teeming with possibilities and the bitcoin venture space looks a LOT like the Internet in the early nineties.Basically, we are at a situation where bitcoin is becoming a precious, desirable, and scarce resource... But people just haven't realized it yet.────────And when they do, it won't be a slow and steady March upward. It will be a monumental movement that will leave our heads spinning. One day we will go from $7000 to $9000, and we'll all be smiling and patting ourselves on the backs. 😄Then in a week we'll be at $1200, and positive news stories will start to flow. The public will take notice.Then $13000 $14000 $15000 $16000 $17000.Then $21000. New all time high. Now comes the euphoria and panic. 😮$25000, $30000.... Wonder, new paradigms... How high can it go? OK... It's crashing, finally... Down to... Whoops. Nope.New money flows in, and people begin to believe in bitcoin in earnest and there is a rush to own an asset that is rising every single day.... $35000, $40000. 😰Those of us who own at these levels will be freaking the fuck out. Should we sell? Is it going all the way up? I mean, the news is abuzz about bitcoin. Everyone's talking about it. All your relatives that you've been 'preaching' to for a year now are freaking out and asking how they can buy some 'bits' as fast as possible, while bits are still less than a cent apiece.Many panic and sell on the way up... And truthfully I don't know how high the next bubble can take bitcoin... At $50k the "market cap" will be about $862 billion... That's a lot, but about the valuation of the single largest company. At this point people will be screaming about how this is a financial revolution. We may get all the way to $100k before the major correction, but you bet your ass if we get that high people will be imagining that we are going all the way up, to a million dollars per "coin" asap.Perhaps a financial crisis will hasten the rise. Perhaps not.────────I know this, bitcoin hasn't moved in a stable predictable rise yet, and there's no reason to think it will start now. It has moved in exponential bursts, each preceded by a pessimistic retraction period.This will be the sixth such time we have done so, and we are growing increasingly efficient at it.I want you to go ahead and start thinking about what you will do, and how you will act when the 'unthinkable' occurs. Because the unthinkable is always right around the corner.The rest of our lifetimes will be filled with 'unthinkable' moments. The next bitcoin bubble (due before the end of 2019) will be one more such incident. 💥Mainly I want you to think about the world events that will have to happen to make this true... And then what would have to happen to cause a major correction in the price from $100k per bitcoin back down to $20000 per.Wisdom is recognizing that history repeats itself, and there's nothing new under the sun.Wealth is the end result of taking a calculated risk based off your acquired wisdom.
Submitted September 01, 2018 at 02:19AM
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