Originally Posted by
jjoony
The biggest reason bitcoin is going up is because of the new money people are pouring into it. This is only happening because bitcoin had been rising steadily for quite some time now, so investors are pouring in the new money. As soon as there is a crash the investors will go away and it will be us again (the people who used bitcoin before 2017). And we wont be able to keep up with the sell volume. Also like 2013, the crash wont be in a day, will be over over a span of weeks, or months, so the people who bought early on to the crash will lose money and they will sell, and people who buy that will also sell when the price keeps going lower, and this will create a positive cycle that speeds up the crash. But eventually (I predict around 1200 dollars), we will hit a solid support and stay there for a while and repeat.
Note: I do not know when btc will crash, if segwit is activated in a few weeks btc could easily break 10k.