Not everyone here is an enthusiastic permabull. im pro bitcoin, but the price increases of late dont seem organic, or sustainable. bitcoin is great, but we must admit many alts have functionality way beyond bitcoin. i dont see a general bear market (the graph is clearly uptrending, and always has been), it is obvious that eventually, it will retract. people WILL take profit. bitcoin is using its trust to survive and thrive; if we lose that trust, God help us. we will go into one of these retractions, like the gox slide, within a year. especially if the price keeps pumping like this. i am mixed on this. i want bitcoin to soar; but not too quickly.
Agreed. I think the rise in price has been too fast since we passed $1200 or so. As with any financial instrument, healthy price growth is slow and steady with retracements and consolidation areas. When price goes parabolic, you can be sure that you're entering overbought territory. The question then becomes how far will it go before it corrects, and how will it work off its overbought state. The latter can be accomplished through a lengthy period of small pullbacks and consolidation, but of course bitcoin's history indicates that a massive crash is more likely.
