Feels good to remove the weed from the garden. Everybody should make a habit of reporting Lambie to the moderator. The system works!
Back to bitcoin:
Can we stay in this range, 220-300, for another eight months?
Why? would that actually be good for bitcoin? I know that us HODLERS can acquire more BTC during that time; however, would that really be good for bitcoin?
It seems that Bitcoin needs to be at a price that is at least twice the current value to be practical for a lot of big user cases, and really the bitcoin infrastructure has been built quite a lot in the last 2 years, so accordingly, the bitcoin infrastructure could sustain a price of $1000 per BTC for an extended period of time to bring a little more practicality ... however, I kind of understand your point, that the $220 to $300 range does allow BTC to keep a bit of a lower profile, while continuing to be developed.... which could be a bit better to absorb mass adoption a little bit better, when mass adoption likely becomes more and more of an occurrence in bitcoinlandia.
He he, I don't WANT the price to stay in this range for eight more months. In fact, I want it to go to moon as soon as possible. But I have sympathy with guys who need a few more months to accumulate. Been doing that myself for one and a half year.
At the same time, I think it's interesting to see that bitcoin beats most fiat currencies as a store of value the last eight months. (In 2014, it was the worst currency, lol!)
The thing is: I don't think bitcoin can stay in this range for eight more months. And it will certainly not go to zero, like prof. Bitcorn & prof. Stolfi believe
Agreed... if we look at the past 8 months, there has been a lot of difficulties in the various attempts to drive BTC prices below $220.... yes, there have been a couple of successful short periods of BTC bears to push BTC prices below $220, but definitely NOT long lasted.
Yes, I am someone who is continuing to accumulate BTX- even though I already have a pretty decent stash them.
At this point, I accumulated nearly 2/3 of my BTC holdings before October 2014 (actually between about November 2013 and September 2014), and the remaining 1/3 of my BTC holdings after that time period.
In some sense, I am glad to see BTC prices in the mid $200s, because between about January and April 2015, I was NOT able to buy very many BTC because of some negative developments in some of my other business activities - accordingly, I had to dedicate much of my available fiat to my other business activities, during that period.
Between about May of this year and present, I have taken care of lot of those other business matters, and once again, I am able to continue to accumulate BTC with some spare fiat... so overall, I remain optimistic regarding BTC's expected price performance in the upcoming 8 months.
Possibly, BTC prices could remain stagnant in a $220 to $290 range, and surely there could be successful efforts to drive BTC prices below $220 or even below $200; however, given the recent trade volume (especially over the past 4 weeks), I think that the bears are having quite a few real difficulties keeping BTC prices within a $220 to $290 price range.
Interesting times.. yes, interesting times in deed, "soon" to be gentlemen....
