Quote from: BitcoinFortune on October 31, 2015, 07:23:59 AM

Quote from: zimmah on October 31, 2015, 02:10:29 AM

It will of course find a new equilibrium sometime, and it will probable overshoot first, than slowly go down until it hits the equilibrium price. But I wouldn't be surprised if the new base price would settle somewhere around $1800. Overshooting to $3000 or $5000 isn't unlikely at all.

If anything above estimations are most likely too cautious even.

$1800 could be the top of this bull run. Then it might drop again to $900 or lower as it did before. If this bull runs slowly, it might not drop below $900.

when did bitcoin bulls ever run slowly?

It's the bear markets that are slow, the bulls are quick and short.

Quote from: 1Referee on October 31, 2015, 08:35:08 AM

I just voted for $500 as that seems a more than reasonable price level to settle at. If we maintain to have a price stable above $500, and the support there is strong enough to catch dumps without going below $500 again, we'll surely advance further.

that's not how it works, that's not how any of this works.

Quote from: RomertL on October 31, 2015, 09:11:12 AM

Interesting an inverted normal distribution - people seem to believe it will either go very high or not so high with few on middle ground. People are either bears or uber-bulls for some reason.

people either are new to bitcoin, or know how bitcoin behaves.

Bitcoin either trades sideways-slowly down (long term bear market) or goes through the roof (not the roof of your house, but the roof of the universe).

Bull markets are really short but they take of like a rocket. They are fucking parabolic on a log chart, that's how fast they rise. But they only last for a short time.

People find it hard to believe bitcoin (or anything at all) can rise 100x in a month or so, but it has done so before, and it will do so again.

Sure, everyone knows growth like this can not go on forever, I'm no fool, I know it can't go on forever, but it can and will go on until bitcoin is a respectable size, and we haven't reached that stage yet. There's no reason to believe bitcoin won't go through at least 2 or 3 more of such rises.

If you think otherwise, you don't know bitcoin well enough.