Yesterday, Bitcoin busted through $50,000 per Bitcoin and today the bull run has continued past $52,000.
Between a price of $53,000 and $54,000, Bitcoin will hit a market cap of $1 trillion. At exactly what price will depend on how quickly Bitcoin continues to increase in price (because 6.25 new coins are being mined with every 10 minute block). Regardless, this is likely to happen within the week.
If it does, that news combined with an over $50,000 price per Bitcoin is likely going to make major news, not just in the financial world but the more mainstream media. I think there are likely two possible outcomes.
The first possible outcome is the news draws in more buyers and the price continues its ascent at a rapidly increasing pace.
The second, I think less likely outcome but a plausible one, is that some retail investors start divesting causing a correction. If this happens, I do not see the institutions lessening their current rate of buying. So in the end, the institutions will swallow up the new available supply with their metaphorical wheelbarrows. I do not plan to sell any of my Bitcoin myself but, will instead, grab my much smaller wheelbarrow and start collecting the cheap Bitcoin falling from the weak hands.
I do think having some idea of what events could happen, and, making plans ahead of time in case each event does happen is a good idea. You don’t want to be making emotional decisions during an event when you can plan ahead, especially during events that are semi-foreseeable.
Bitcoin Meditations 