Do you think bitcoin is in a bubble right now and price will settle back to near a $1000 again or do you think it won't be going down anymore? Not for too long anyway.(Meaning it may take a huge dump with some whale playing a game or something but will bounce back up soon too)
What are your thoughts?
go check the price history and see how it has changed. don't just look at the price, but also check the timing it took to get to a price then if you could go and check the new to see the reason for each drop and size of them. then you can get your answer, or at least get a general idea.
in short anything is possible. but the chances of a drop that big (about $900 at this point) is not enough to be considered. there can surely be drops in the future for many reasons ranging from a simple correction to a widespread FUD but in the market there always is a pretty strong buy support which is waiting to buy bitcoin at lower prices, and a 100 dollar drop is big enough for people to just at the opportunity and buy.
Just after reading your comment, I went on to check btcprediction.com, here is what they say:
"Over the next 12 hours, we predict the market rate may be estimated at $1826.24;
The market rate difference would be $-126.88;"
I know they cannot be 100% accurate all the time, but I've been taking a peak at them from time to time and they've been quite close to the correct mark most of the times.
