Do you anticipate a major correction? This kind of growth, while wonderful, feels...unsustainable.
I can't hazard a guess. I could say, "yes" and eventually I'll be right anyway, but the downside to an anonymous currency is that you can't determine with any certainty if the trades seen on the Bitcoin network are speculative currency trades or the reflection of the commerce of (non-financial) products or services. The only analysis that can be done is basicly raw market data analysis, such as Elliot Wave theory. So far, it's made me some money on trades, as I've racheted up a small sum of US $ on MtGox up about 64%, but I find myself still surprised at the very next surge. If most of the rise in price is due to the influx of new market players, then it's primarily a speculative rally, and it has to run out of steam eventually. If most of the rise in price is due to some Bitcoin aware drug cartel demanding their customers use bitcoin for transactions; then, for good or for bad, a significant pullback (say, back below the 7 day adjusted average) is unlikely.
If you ever find anyone who will tell you he can call the top of any market rally, assume that he is full of crap.
