As we can see in this chart, the bitcoin mania keep pushing prices higher, however the market structure show that the overall situation is far from an equilibrium.
Major equilibrium price level stay below 4000, and a even bigger equilibrum level stay below 2000 price level.
We don't know when the bubble will burst, and as for now, the market keep looking like a tulip-mania style, with new buyers joining the bitcoin wagon every day.
When no more buyers will come, the market will naturally look to get back to its equilibrium levels, going all way down to 2000-4000 price range.
Does this mean we can safely sell it now? Of course not, as long as new buyers keep coming, price will keep going up, nobody know what highs it can reach before the bubble-phase finish.
Major equilibrium price level stay below 4000, and a even bigger equilibrum level stay below 2000 price level.
We don't know when the bubble will burst, and as for now, the market keep looking like a tulip-mania style, with new buyers joining the bitcoin wagon every day.
When no more buyers will come, the market will naturally look to get back to its equilibrium levels, going all way down to 2000-4000 price range.
Does this mean we can safely sell it now? Of course not, as long as new buyers keep coming, price will keep going up, nobody know what highs it can reach before the bubble-phase finish.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.