Bitcoin price will keep going up as long as new people enter the market and the FED keeps printing dollars. So far only 1% of the world’s population owns bitcoin and the adoption curve is similar to the internet in the 90s. Supply and demand, simple as that.
It’s true that denominating bitcoin in dollars is deceiving bc BTC keeps appreciating and the dollar keeps debasing. But it can be compared to other assets like gold, or real estate. A few years ago an apartment was thousands of BTC, now is less than 10. And the same goes for gold.
Bitcoin is the fastest appreciating asset in history, it’s already more valuable than all the gold in Fort Knox, JP Morgan, or Tesla and it’s not going to stop now. The demand is growing exponentially and the supply is shrinking. Every year gains 200% on average.
Some whales decide to dump to manipulate the markets but I wouldn’t call them smart money. Smart money is Microstrategy, Grayscale, Tesla, Cathie Wood, and many others that buy the dip and never sell. Or do you think these people don’t know how to invest?
The losers here are the weak hands that buy high, then panic and sell low, that’s the opposite of the rational option. You can try and time the markets but most people get their fingers burned by doing that. It’s much easier to buy and HODL.
Zoom out and you’ll see that the trend is clearly upwards despite some temporary setbacks. Don’t confuse the signal with the noise