Basically I think it is so volatile because so is the market confidence in the future of Bitcoin: it is just as promising as it is hazardous. Bitcoin is still an *experimental* e-currency, so most of not all coin holders know that the fiat value of their BTCs *could* possibly bust at anytime. So the sellout effect is still very strong, hence the crashes, when anything happens that could threaten the future of bitcoin.
Last time it was the block chain fork, next time it might be some large government announcing new laws that would make bitcoin trading or even transactions illegal (good luck with that in sane democracies, at least I hope so).
I believe we will still see the rate rise on a steady basis and crash every n week or so, even more often like these days. The crashes will be contained by the strong base of early adopters and "faithfuls" that will see every crash as an opportunity to buy cheap and profit, sustaining the elastic behaviour of the market.
Topic: Bitcoin Rising Price (Read 670 times)
Yep.
Like the others have mentioned in this thread... I think in the short term it will stabilize in the 40-50 band but long term I think it will very high...
I'm pretty skeptical about the continued rise of bitcoins. Obviously it can't continue to sustain these types of gains but I can see it stabilizing at around $40-50 still due to such high demand.
I think it has potential to go higher than. When the next wave of merchant adoption of bitcoin comes, I think it will break $50.
I'm pretty skeptical about the continued rise of bitcoins. Obviously it can't continue to sustain these types of gains but I can see it stabilizing at around $40-50 still due to such high demand.
So I'd say most all of us assume the Bitcoin price will keep rising overall, if so, why hasn't the market equalized and become more stable. It rises pretty much a dollar every few days and keeps doing this until a crash. Why does it keep repeating this trend and how long do you think it will operate like this?
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