http://www.bigtrends.com/wp-content/uploads/2012/01/Bubble-Phases.pngIt's all about the entry and exit point.
IMHO Bitcoin could be the future of money, but when the bids dry up, and miners / hoarders sell, the price will fall until it stabilizes itself at some level.
It's not different than other limited commodity, let's just look at the 50 year charts of gold or silver. As long as there is high interest, the price will rise,
and of course it will overextend itself at some point. When the buying interest ceases, it will fall.
Not to zero, as it has various applications and uses, but does a monthly transaction value of 2 mio. justify a valuation of around 1000 mio.?
Yes, if it gets adopted widely by commerce and it's use doesn't get restricted by governments. But not at the moment.
I still believe in it, because it liberates us from the governmental theft of our wealth through inflation.
(BTW: I had 86% of my money in it until 1 hour ago. Maybe I sold too early, but better safe than sorry. Now just 5% left in bitcoin, as I feel it's getting too hot for me. Buy the rumor, sell the news.
Seeing it on the main establishment controlled newschannels now makes me nervous. But anyway: Thank you Bitcoin for liberating me in enabling me to leave my job in just 1 more year)
