Just curious as to your thoughts on this recent decline in trading price.
Manipulated? Bound to happen, nature of Bitcoin? Are we heading to $1.00 BTC soon
Thanks for your insights.
SJ
It's not going below $1 for more than an hour this year, is my prediction. Why? because there is insane support at $1. How do I know? Because many people (me too) say they would buy at $1 very big and I believe them.
I think bitcoin is undervalued. The market should normally take into consideration future expectation. Bitcoin is very high risk, but the reward in case it becomes widely used even within just a sector or certain populous is extreme. Todays uncertain times should free some FIAT looking for places to go.
Maybe such high risk is just not a popular place in fearful times.
Maybe bitcoins trust got damaged more heavily than I thought by the bad news since June.
As far as "fundamentals" go: it seems the economy is not growing rapidly yet, but look at all the developments on the technical side and infrastructure support businesses popping up, exchanges professionalizing. The infrastructure is being built and remember: we're still in the "initial big inflation" phase. This all takes time, but it happens.
I'm not trying to talk the price up, but it might well be that "Q4 2011" will be used in sentences like: "Early adopters that got into bitcoin in Q4 2011". Don't miss out
But yes, me too, and I have been very satisfied lately.
