Been wondering about that, for a while, I tried to day trade ETH but I failed to hit the peak well, so I'm wondering what I should do in regards to Bitcoin.
JP Morgan states Gold is suffering due to bitcoin demand: https://www.cnbc.com/2020/12/09/jpm...institutional-investors-flock-to-bitcoin.html I dont know how it'll work, aside from being a tool against inflation ().
You're probably just a grunt like us who hodl crypto like Bitcoin. So unless you're a whale you've got nothing to go by since they seem to 'control' the market. So in my honest opinion, it's just a guessing game. Another interesting question for you and everyone else; what do you intend to do once it reaches a value worth your while? Will you cash out? I know the majority of the people are into crypto to later exchange it for 'real' money. Thus, crypto can never be a stable currency let alone used as a reliable payment method. In other words; crypto currencies have no future and they will fail. If this is the case, crypto will drop to zero one day and long term investment is pointless. But I guess you CAN take a gamble and be a hodler and cash out at the right moment. But who knows what the right moment is? Is it now? When it reaches 100K? More? To me these are the reasons why it's still a guessing game and why you can't say anything reliable about it.
Noone knows what will happen. Spin a (bit)coin. I'd be more careful and not sink all my savings into it. Then again, I don't have any savings so I don't have to concern myself with that, lucky me.