It is the most desired cryptocurrency, but also the most expensive. Many people do not realise that they can buy portions of a Bitcoin.
The thing about Bitcoin, and this is the thing that makes everyone want to get some, is that despite its volatility, it is the first, the best, and (so far) the only crypto with the potential to be worth $500,000 in about 3 years. We are going to see some earth-shaking events happen, like sudden surges in value of $10,000 at a time. And then no retracement, but more sudden surges in value. Investment banks just have to get into Bitcoin, and there is soon going to be a realisation that selling, in order to push the price down, is not a good strategy for those holding lage amounts of Bitcoin. Holding and buying more is what will make people big money in the long run. At the end of the day, despite the establishment or central banks issuing sell orders, the people with sense will ignore that, say they didn’t see the message, and do the opposite. They’ll buy more, because the price is just going to keep going up.
$8000, $10000, and $20000 are only psychological barriers. The uninitiated decide to sell at those point to take a little profit from each coin they hold, but if they thought longer, they’d realise that they were just delaying the bigger profits to come.
I predict that at each hundred thousand barrier, there will be a lot of profit taking, but the holders are the ones who will make most in the long run.
This is just my opinion based on years of research. So do not take this as any kind of financial advice. I just give my opinions, and I sometimes get things wrong… You are unlikely to find a financial adviser who will admit that fact.