There is no reason to not to believe it is the correct price. Investing, aka. speculating, is a very risky game of trying to predict the future price. This ran the price up beyond $1000, far above it's value based on utility and current use. Then the price crashed and seems to like $350. Well, maybe we have our answer. The right price is about $350.
It will likely go up in the future if current trends persist, but that again is a guess and assumes a certain future. Bitcoin was never meant as a investment and it is risky to do so.
Topic: Bitcoin as an investment - page 4. (Read 3915 times)
Bitcoin's always gone up and down in value. I think the price would have gone down after it peaked anyway. This is probably the despair phase and it's a good sign we are starting the run up to the next peak.
I dont think its the result of bad press. Is the result of a fraudulent increase to over $1000 due to Gox/willie bot and other fraudulent exchange activity
The long term slow drop in Bitcoin value, is it the result of bad press foist by banks or the dumping of mined Bitcoins by large farms like those associated with KnC?
A long slow decline is bad for miner/investors like myself who don't dump the mined Bitcoins. But, it would seem ideal for owners of large farms who see the decline as reducing the number of users getting into mining and therefore the reduction in private purchase of mining gear.
Historically, since KnC's gear came on the market, the best thing to have done with the mined Bitcoins is to have dumped the Bitcoins for cash. Did they foresee the result of constantly dumping the Bitcoins? Would the slow decline in value have happened anyway? We know the banks don't object to Bitcoin become useless as an investment.
A long slow decline is bad for miner/investors like myself who don't dump the mined Bitcoins. But, it would seem ideal for owners of large farms who see the decline as reducing the number of users getting into mining and therefore the reduction in private purchase of mining gear.
Historically, since KnC's gear came on the market, the best thing to have done with the mined Bitcoins is to have dumped the Bitcoins for cash. Did they foresee the result of constantly dumping the Bitcoins? Would the slow decline in value have happened anyway? We know the banks don't object to Bitcoin become useless as an investment.
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