Ok , I won't get it and I refuse to undestrand why bitcoin price has to go down in order to bounce back to 110+.
Second. I refuse to undestand how some of you can preach is a store of value when you expect it's value to halve in one- two weeks time.
Because "store of value" doesn't mean "get rich quick". Two weeks, three months mean nothing in the grand scheme of things. Just think that 1btc was worth $0.079 in may 2010, $2 in November 2011 and $10ish in 2012.
If we close 2013 at $40ish, BTC will have worked as an excellent store of value for me. It's the best I know. If you don't see it, then you are just short sighted. Maybe you wish to buy today at $100 and sell at $200 in one months. Well, wake up. That's not how it works. Stores of value are for the long term, especially if they are commodity like and thus prone to volatility and manipulation.
Just zoom out and look at the big picture, guys. Really why are you interested in BTC? For the quick easy buck?
Ah, now i finally understand your attitude. It's all about you. Just because you bought quite cheap everybody who didn't still has to understand how it's amazingly good it is if Bitcoin ends this year at 40 bucks. And if we don't see it we are short sighted.
No, it's not "about me", if this was "only about me" I could be bitter and angry because my "btc value" decreased by 50% since April, 10th.
Just do not expect btc to always go up in both mid and short term, especially not after a bubble burst. Because is nonsense. Night is dark, there's no surprise and is expected. On the contrary, expect BTC to go UP in the long term (years) - as it always did.
There's nothing to worry about, really. Bubbles need to burst all the way down.
To manipulate your numbers a bit, the trend from 2010 to 2013 could mean a 25$ BTC in 2013.
0.079 x 20 x 5 x 1.25 ≃ 25$
2010 2011 2012 2013
It probably has a worse reliability than the back'o napkin analysis but you can make it fit the 1.42% growth "theory" (or sth %)
edit: you obviously need to tweak the initial value and timing for the multipliers, but...