Reflection about the price of Bitcoin.

There's one thing that I keep thinking about it, and is the following:

The price of Bitcoin is determined based on the willingness of who owns Bitcoin to sell for a specific price and another one to buy my limit order.

There could be the case where the demand is still high, but nobody is willing to pay +30k for a BTC and at the same time not having enough bitcoins in the exchanges.

For example in the housing market. The supply is very low, the demand is very high and yes prices went up 10%, but not 100%. If there was a point in time where no houses where available for sale, prices will go up more, but no one will be willing to pay 1M for a house that was 300k. People in search of a house will go to alternative assets (renting, hotels, etc)

With this I mean I see a path towards 25 or 30k. But at this levels it's hard to think this could go up 5x from here.

I'm most likely leaving something on the table.

Thoughts?

submitted by /u/Remarkable3897
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from Bitcoin - The Currency of the Internet https://ift.tt/2KpPe7F

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