Well, for the anti-bears out there, think about this. Sure it would be nice to see the price start to rise. But, honestly, do you have any plausible reason why Bitcoin would go up?
- MtGox unfreezing payout? Well, even if technically unfrooze, they still keep a 2 week delay. Some say that it's because they really lack liquidity and they want to have some cash inflow to pay for the outflow (à la Ponzi). In any case, we can forget that as the trend changer.
- Winlevoss fund? Well, those things take time. It won't happen tomorrow for sure. And even if it happen soon, do you think people will invest just for that? There's nothing to back it up except for the speculative/hype aspect of it. Fundamentally, the hype is already gone, and there's no real economy put forward here.
- Paypal won't go Bitcoin for a while. It's under U.S. laws and probably don't want all the hassle of registering, etc.
- Any big player jumping into Bitcoin? Who would risk it? The buzz is gone.
- Anything else?
On the negative side though there's just more and more that pile up against Bitcoin.
So, do you really just hold in hope that some magical power would suddenly change the trend? In hope that it may rise for unforeseen reason? Do you really think such a rise would be sustained? How much do you think the price would rise over the course of several weeks? 10%, 20%, 50%? Really, that sort of thing happened last time because there was sustained news, hype, media attention, coordinated turn of events. Really, the buzz is gone. People who had the chance to learn about Bitcoin already know about it by now. The medias already have forgotten about it... Old story, nothing new.
I'm telling you, the future does not look bright. And I don't see anything that would sustain a rise, let alone a change of trend. So, before speculating that the price
may rise, and jump back in if it goes up by 5%, think more than a week ahead. The golden days are behind.
I don't say that it's over, just that the magic is no longer there. Price may stabilize, but the fundamental problem is there, Bitcoin is still and always had been a virtual speculative hype. And it's now being seen as a threat by the U.S. govt./banks. It will only get beaten more and more, and with more fierceness as the price go up, and as more people invest in it.
Bitcoin is still a child. It's not seen anywhere as a serious option for the future. Way too much fluctuation. Way to much uncertainties.
That's my opinion, just my 2¢... And please, lawful believers and undeniable bulls, put to good use your freedom of speech and don't hesitate to flame me! That's what the speculative forum is for
But I think it's time to take a break for a moment and do a reality check.
