I agree with you about the double digits. From my research and having been around bitcoin during the first bubble we will eventually see double digits before this is all over.
Don't look at this as bad, just don't expect such large gains so quickly. Bitcoin in January was $13 dollars, say bitcoin settles around $30-$50 dollars, that's a 300% gain.
Remember, there are millions of bitcoins around, and more being mined every day. The bitcoin market is very tiny and even less people willing to buy bitcoins. Most people who own bitcoin have paid very little for them.
It may be a bumpy ride to single digits but do not expect a quick peak like we had. It would be too easy for people to get rich as everyone is expecting that to happen. It will not happen because the big market players will lose to much money because everyone expects a bounce back to $1000.
Don't look at this as bad, just don't expect such large gains so quickly. Bitcoin in January was $13 dollars, say bitcoin settles around $30-$50 dollars, that's a 300% gain.
Remember, there are millions of bitcoins around, and more being mined every day. The bitcoin market is very tiny and even less people willing to buy bitcoins. Most people who own bitcoin have paid very little for them.
It may be a bumpy ride to single digits but do not expect a quick peak like we had. It would be too easy for people to get rich as everyone is expecting that to happen. It will not happen because the big market players will lose to much money because everyone expects a bounce back to $1000.
On point, though i think your estimate is a little low. Around $125 is where i see it settling. People shelling out $1200 for bitcoins at this stage in the game is madness, bubble was so obvious.
agree. the bubble is slowly to go down till new years. holiday seasons, rent, debt, profit gained is too much to get out while the market price is high. people will sell, till new years. then market setting will induce. i would sell now, consider buying back @ 200$ - 300$ range.
