Do you guys think this is a start of another bubble or will it be a lasting upward trend?
The Tao of Bitcoin
As more people learn of Bitcoin, many of them buy, and the price goes up.
Sometimes people get too excited, and it goes up too fast, too far. A correction ensues, many of those newcomers sell in a panic, and it goes down too fast, too far. The day traders thank those who bought high and sold low in a panic.
It always lands considerably higher than the starting point. There is often then a short period of sideways movement at a level somewhat below the peak, and then the cycle starts again.
In fact, it might be starting all over again today. Press mentions have been high recently, so money should be flowing in. Expect things to really accelate a few days after the flurry of press as Bitcoin crosses $1000.
Sadly, while my crystal ball tells me there will be another run up, panic buying, a flash crash, panic selling, then some sideways movement, it does not tell me how high or how low. If it could tell me that, it would be worth its weight in bitcoin.
