BTC has its own cycle!
Ray Dalio says everything has its own cycle, I do aggree.
0. price is low, people buy coins
1. people realize mining is profitable
2. people start to mine, and some buy coins.
3. too many people join, everybody join, all in. (no more newbies to buy skyhigh price)
4. exhaustion, price drop. repeat.
I think if this is the case, we might need to see 10k again.
0. price is low, people buy coins
1. people realize mining is profitable
2. people start to mine, and some buy coins.
3. too many people join, everybody join, all in. (no more newbies to buy skyhigh price)
4. exhaustion, price drop. repeat.
I think if this is the case, we might need to see 10k again.
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