Let's start with a simple question. Was Bitcoin expensive at $12,000 but cheap at $34,800? Was Ethereum expensive at $400, but cheap at $980? Why those who are buying today like there is no tomorrow, didn’t buy a week ago?
The answer is equally simple: fear of missing out. These are the same ‘investors’ who were buying Bitcoin back in 2017 at $19,000 when they could have bought it at $10,000 only a few days earlier. It is the same ‘investors’ who were buying Ethereum back in 2017 at $1,000 when they could have bought it only a few days earlier at $400.
Those ‘investors’ have spent over $82 Billion (with a B!) just within the past 24 hours to buy Bitcoin. They have spent almost $36 Billion (again with a B!) just in the past 24 hours to buy Ethereum. They even went to spend almost $5 Billion just in the past 24 hours to buy the sinking XRP. Even if not all those $123 Billion is fresh money pumped in the exchanges, a large part actually is. The party will be over when fresh money stops flowing in - and be rest assured, it won’t keep flowing for long.
Let's move on to a not so simple question. Why 'institutional investors' (yeah, right) are announcing they invest X millions of US Dollars in Bitcoin, or any other crypto-asset? Why 'analysts' predict (once again, as they did back in 2017), that Bitcoin could reach $100,000, $250,000, or $400,000 a piece? See how carefully they choose which words to use?
The answer is again simple. Because those professional con artists want 'investors' to believe that Bitcoin, Ethereum, or whatever other crypto-asset is still cheap. Or they want 'investors' to follow those trusted 'professionals' are placing their own money (or their clients' money) into Bitcoin or Ethereum, or whatever other crypto-asset, and therefore it's safe for the inexperienced investor to follow them. In reality, what they are doing is to pump fear of missing out in the market. They are doing it so they can sell you at $35,000 or $1,000 what they (or their customers) bought at $10,000 or $360.
The poor stupid souls will scrutinize to death a $10 investment in a small unknown crypto-project (and conclude it's a scam), but they will happily waste thousands of dollars on Bitcoin or Ethereum, showing trust to the most dangerous professional con artists out there, called 'analysts' and 'institutional investors'.
Here is some news for you: Bitcoin will not reach $100,000 a piece. Ethereum will not reach $4,000 either. Not in this cycle. As they didn't during the previous cycle. The cash to support such prices, simply does not exist. Rather than being afraid you will lose the opportunity to jump in the bandwagon, you should be afraid of the bandwagon getting de-railed some time soon, and those jumping in today will be lucky to survive the inevitable crash.
