Post
Topic
Board Speculation
Re: Once we hit $1000, how far will BTC drop?
by
tequilamockingbird
on 27/12/2016, 09:12:20 UTC
It is obvious that the OP is a troll. He only has one post and is purposely creating a false dichotomy which suggests the price must either drop at 1000 or stay between 800-1000.

I assure you I am not a troll. In fact, I am "newbie" just like you pinacolada. Actually I'm someone who has been following bitcoin with great interest for around two years, but had been too foolish/hesitant to get involved until this rise. Now I feel like every value is "cheap" compared to the 10+ years future potential of bitcoin.

My only concern is if the people selling at $1000 (and there will be many) are enough to push BTC down below the value today (~$900). Or are there other factors which can hold the value up during this sell off?

Just for the record my gut tells me $1000 will lead to a drop down to $850, before a quick rise upto $1200, before settling around that level. $1200 might seem an over-valuation, but it seems we are entering a new phase of Bitcoin where government action (India, China etc) is leading people to seek bitcoin out through need rather than curiousity.