Cool post! You could be right, but we've seen profit taking all the way up. Just yesterday it fell almost 300$ and then gained again within a 5 hour candlestick. It corrected from $3000 to $2500 between july 20th and july 26th.

In my opinion these are real correction, they are just happening really fast because people take profit and at the same time people are eager to get in for another 100+% ride (and of course new longs entering)

I agree that we must and should see a bigger correction at some point. It can't go to 50k without anything but daily corrections. True. And who want's that. That's what bubbles are made of. Corrections are healthy.

I agree that a larger correction will come soon. I personally think there is a pretty big chance that it will happen at 5000$ , like you predict. But I believe there is a bigger chance we'll see 10k before the "big correction". If BTC then corrects down to 7-8000$ and continues to climb again, you should really strap in, for that thing is going to skyrocket right to 30k.

I believe Bitcoin is something of a hyperreality thing. It's something brand new, something never seen before, and it's a currency and a store of value. It could be worth incredible figures.

If it captures 10% of the gold markets value we have 30k bitcoin. If it grows as large as the gold market, which it most definitely can, we see 300k. And even the gold market is small.

So 30k is absolutely realistic in a shorter perspective (like 1 or 2 years)
300k is absolutely a possibility
And beyond that point is even possible if large masses of people adapt.

Not to mention other cryptos and the entire market combined.