if your gut is telling you what to feel, with no logical reasoning, then i won't listen to it. a picture still needs to be painted.
My reasoning is that last fall right around sept 15th were were in a stretch much like this one, steady rise, looking good, but then wham, bad news, people got bored, whatever... and we dropped more than 25%.
I believe bitcoin is like groundhog day and that Tom Cruise movie. We are just reliving the same story with slightly new players. We are going to plod along like this for another 10-17 days if we are lucky, then a bunch of weak handed new blood or old blood are going to dump their coins. Bad news maybe, bored investors maybe, but it is going to happen. It might only last a week, but I suggest you have a buy order in below $510 to meet your taste.
so you're saying that you think there will be some explosive news coming out after it dips? because that's what happened in september.
well i think it will rebound quickly, but might be not so quickly, how it does is not that interesting to me, unless it is something like a collapse of a currency where Bitcoin already has a foot hold, that would be awesome
really? i find the "how" very interesting, as it determines the factors that go into play. the last bull-run was probably from china's entering the game, and then it was topped off by positive hearings in the house. the new injected factors dictate how the game is played later down the road.
I think 2014 and 2015 will be the years bitcoin doesn't do much. There is so much good news every day that I don't see anything coming out that would shock the market into a buy except maybe the collapse of a well connected countries fiat. yes that would do it.
I think Maybe 2X price from here in 2014, but the reality is that moving a market cap from 100 million to 5 billion is much easier than moving a market cap from 5 billion to 500 billion. It will happen, but it is going to be like Yellowstone park, a ticking time bomb that will build and build and build before it finally relents and explodes.
I think 2015 has a high of $2400, but stays in low $1000s most of the year, 2016 with the halving anticipation will be the trigger, kaboom.
I can wait that long, it isn't too far away.