Post
Topic
Board Altcoin Discussion
Re: The bottom will drop out of the alt market soon
by
r0ach
on 01/06/2016, 07:26:10 UTC
Looks like there is strong support for BTC historically in the $5 - 10 range. The other range of support is in the $50 - $150 range, which the range I am expecting for the ultimate bottom. But < $10 is not impossible.

Oh god man, now you're pulling a MatTheCat and just fantasizing about where you would love to be able to buy.  You also can't compare gold and Bitcoin because gold is a mature market who has already reached maximum market penetration.  If you really want to compare the two, compare the fact that I can do absolutely nothing with an ounce of gold except look at it, while I can actually spend Bitcoin at places like Newegg, Steam, etc.  Ironic that the utility for me of an $8 billion asset is higher than that of an $8 trillion asset.  

If the economy implodes and gold is actually spendable in it's native coin form, there will be no food on the shelves to buy with it anyway!  Meanwhile, Bitcoin dwarfs the usefulness of gold if we don't actually go back to the dark ages.  This leaves you with a choice of either Bitcoin or guns with little use for gold.