I predict that it will work so long as there is someone, anyone, who is willing to pay marginally more that the someone who just paid for some.
One that doesn’t happen, well, I can’t say what will happen. But there are two parts to “pump and dump.”
Get ready for a pump that will blow a lot of minds.
A friend of my daughter was just offered a job at a big Bitcoin company. He is being recruited from another BIG tech company (one of the big three.). The money being invested in the crypto infrastructure is just nuts. And it’s investment money from old, big, conservative firms and trusts.
I bought in on a lark in 2013. I look at my holdings nd just shake my head. I NEVER thought it would get this high. Conservative valuation by year end is another double. I will believe it when I see it. But these are not tulips, as some would have think.
It’s a crazy ride...