Wow. Just….wow.
Bitcoin’s price has gone ‘beyond exponential’ this week. As I started working on this article, it shot up 22% — from $14,000 to $17,000 (hitting an intraday high of over $19,000).
And that’s after a mind-blowing upwards rocket ride over the past several months.
I think it’s safe to say that the vicious melt-up in price over such a short timeframe has surpassed the expectations of even the starriest-eyed Bitcoin fanboys.
The whole world, especially the 99.99% of us that own zero cryptocurrency, is asking: What happens next? And, What should I do?
Is this insane trajectory going to continue for a lot longer? Do I need to get in now to avoid missing this once-in-lifetime fortune-making opportunity?
Or is this a classic bubble blow-off top? Is this the deadliest time to enter, right before the price implodes?
An Expert’s Take
…also:
Davefairtex, our resident charting expert, notes that his model now shows Bitcoin’s level of overvaluation at “nosebleed” levels with a daily RSI of over 98 and the forecaster clearly predicting a reversal:
