Bitcoin can stay irrational longer than you think, but is $100k on the way?

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Last Updated on 23 March 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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There are some market quotes, which are so good they become the stuff of legends, like go away in May, but remember, to come back in September, which means you best take your money out during the lazy summer period.

Another one is that the market can stay irrational longer than you can stay solvent, written to describe that even though 100 people can scream bubble an asset can sometimes continue to go up (or down) much longer than is logic.

Famed economist John Maynard Keynes, who is attributed the famous quote, used it to get back into trading even though everyone around him screamed bubble in the 1920s.

After the bubble of the 1920s finally burst (in 1929 only), Keynes pushed for increased government expenditures and lower taxes to stimulate demand and pull the global economy out of the depression.

Right now, there is already increased government expenditures in the form of excessive money printing, so if this is a market bubble, there is no telling how we will all get ourselves out of it.

But, as long as the music is playing of course, you got to (get up and dance said former Citibank CEO Chuck Prince, just before Lehman Brothers collapsed in 2007, so we won’t say that one too loud).

Advertentie.

$100,000 is on the way

Even we here at CryptoTips, who are firm believers of Bitcoin’s usefulness and future usage, are a tad surprised to say the least by the absence of serious downturns during the current bull market. But do agree with most analysts that since the Bitcoin price has reached the $60,000 level (this past weekend), the probable next target is a $72,000, after which the price of $100,000 could be scalped.

Will there be hiccups along the way? Probably. Will that price be reached in one clear go or could Bitcoin implode back to the lower regions before doing so? Possibly. Are you missing out if you don’t at least put part of your portfolio into Bitcoin or crypto right now? Probably and possibly, but always do your own research.

Another example is this: famed billionaire Mark Cuban recently admitted that he had bought some Dogecoin for his son, just as Elon Musk has also done for the youngest of his 6 children a while ago.

Do any of them believe that Dogecoin is going to make them rich? No, they both admitted, but it’s fun to be able to talk about it.

hello.artmagination.com / Depositphotos.com