Technically, the sell point on BTC was well before $16,000, however, it's a manipulated market.
The major owners of Bitcoin will not sell at any price. They want to control price and do not have a profit motive. That has led to an engineered bull market. Short selling was offered coincidentally last week, creating fresh enthusiasm which can create another spike in price. Very few coins for sale.
Meanwhile, marketing is continuing to push price ever upwards. The chart itself looks very similar to S&P as both are held up by enormous amounts of paper money.
Look for a 'fundamental' change in the market when a central bank or a country accepts Bitcoin as payment. That will solidify price in the public's minds.
The major owners of Bitcoin will not sell at any price. They want to control price and do not have a profit motive. That has led to an engineered bull market. Short selling was offered coincidentally last week, creating fresh enthusiasm which can create another spike in price. Very few coins for sale.
Meanwhile, marketing is continuing to push price ever upwards. The chart itself looks very similar to S&P as both are held up by enormous amounts of paper money.
Look for a 'fundamental' change in the market when a central bank or a country accepts Bitcoin as payment. That will solidify price in the public's minds.