couple of additions
1) I am not saying bitcoin could never go to $1000 before $35 - yeah it sure could, the market can stay illogical much longer. MY instinct is telling me no ways. If it does - well very cool for all of you holding. When this turns, it will turn very quickly. The average person buying here is not a wealthy investor who is playing with bitcoin with 0.5 % or less of their total net worth and doesn't really care. My gut is telling me at least 50% of the new buyers will be losing sleep at night if bitcoin stops moving up, nevermind starts crashing.
2) Remember for those of you that are speculating here (be honest - are you NEVER EVER going to sell or use your bitcoins? if you are holding for higher prices you are a speculator) - you have made ZERO dollars until you book your profits.
3) there are NO short sellers in this market because there really isnt any way to short this thing (and don't point me to one of those scam websites that supposedly are "option" trading sites on bitcoin, what a joke). When it turns there is going to be a friggn giant hole under it. You need short sellers to stabilize a market. No one is there to take profit on the down and therefore become buyers. This is going to be like throwing the titanic off a cliff when the down move comes.
Kinda early to sell in my opinion. Bitcoin is just now becoming useful in finance. But oh well, Hope there is a dip and you can buy back in lower friend, but its a dangerous game to play.
well, this "grandpa" figures that when you are up 400% or something stupid in 8 weeks, its time to take the easy money and be content, book profits, and not be a greedy pig.
its got nothing to do with how high bitcoin may go, maybe it goes to $2000 i don't know.
It's got to do with so many trades I have seen go sky high, only to crash back wickedly.
It seems you really all expect to be millionaires, and have your "trades" go +200 000%
I'll give you one screwed up metric, that isnt my opinion but fact. Bitcoins price has increased approx 8x since feb 1st. But its transaction volume per day has increased approx 4x. whats that tell you? the sellers are sitting on their hands, and the buyers are panic buying.