The high is a huge emotional pain point for many early adopters. We could see some serious pullbacks each time the battering ram swings toward $32, but the more heaves and hoes we see, the greater the gush of euphoria is going to be once we bust through that psychological wall.
Long term (over the next few weeks/months) it should all even out as we continue the organic exponential growth path of 2013.
Long term (over the next few weeks/months) it should all even out as we continue the organic exponential growth path of 2013.
I would think the pain would be "Damn why did I sell?"... Those people should already be sold out.
Yeah, I'm sure that plenty of people who thought we were near the top of the "bubble" and were planning on selling at $32 were just fine with selling at $29 or $28 when it dipped.
It's acutally somehow provable, look at that steep peak in June 2011: http://blockchain.info/charts/bitcoin-days-destroyed-min-year?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=
Too bad I couldn't find the days destroyed script, if we replace the "unspent time" factor with its power function, we could have a better idea of the early adopters' cashout activities.
