The "crash" looks like a minor speed bump when you zoom out a bit:
http://bitcoincharts.com/charts/mtgoxUSD#igWeeklyztgSzm1g10zm2g25zl
http://bitcoincharts.com/charts/mtgoxUSD#igWeeklyztgSzm1g10zm2g25zl
I would say zoom out a little bit, think about months/years not days, and you will see that we could very well still be at A. This is still very early adopter stage, as we are talking about a global techology with possibly huge adoption potential.
Just compare this with apple and the iOS tsunami for example. Are we at the stage where everyone and their mother has BTC, everyone talks about it to death, all hedge funds invest in it and guarantee unlimited growth (we're past this for AAPL and price has now crashed)? Or are we still at a stage where people discover this, journalists still scrambling to understand it, most of your friends don't know about it, and very few mothers own BTC? If you think about all the money in circulation globally, and a 'market share' for BTC, I am guessing we are well under 1%, probably a few decimals from that? Certainly a lot less that when apple market share when stock was trading at $15.
Of course BTC is a game changer, the first global currency, so hard to compare with a generic chart which probably applied to pets.com and other high branding-low innovation startups.
Of course this is really speculation land, no one can predict world events that could really alter the price, or whether big money (hedge funds etc) will decide to get on board or fight this to the ground.
Just compare this with apple and the iOS tsunami for example. Are we at the stage where everyone and their mother has BTC, everyone talks about it to death, all hedge funds invest in it and guarantee unlimited growth (we're past this for AAPL and price has now crashed)? Or are we still at a stage where people discover this, journalists still scrambling to understand it, most of your friends don't know about it, and very few mothers own BTC? If you think about all the money in circulation globally, and a 'market share' for BTC, I am guessing we are well under 1%, probably a few decimals from that? Certainly a lot less that when apple market share when stock was trading at $15.
Of course BTC is a game changer, the first global currency, so hard to compare with a generic chart which probably applied to pets.com and other high branding-low innovation startups.
Of course this is really speculation land, no one can predict world events that could really alter the price, or whether big money (hedge funds etc) will decide to get on board or fight this to the ground.
THIS!!!
I like these thoughts.
