Quote from: phr0stbyt3 on February 23, 2017, 07:32:24 PM

Quote from: Spandam on February 23, 2017, 05:59:22 PM

As of my typing right now the price is 1152$ as per preev and it looks like we just took 2 month approx to move from 800 to 1150 and considering that the price is going up quite constantly we can see the time coming soon when the price will be around 2000$

It's hard to decide for now I do think that by end of 2017 bitcoin will easily reach 2000$ the only thing I'm scared of if it reaches 2000$ within a month or two that means the price isn't stable at all and because of this panic selling can happen and we can expect a huge slump in the price if this happens.

If we're going through a rally where the price keeps going up constantly, then you can't avoid coming to the conclusion that the price will be overbought at some point. It's not more than normal that we will experience a correction taking the price back to more 'appropriate' levels. Market will need to get rid of its steam which is exactly why corrections need to pop up. Let's just hope that we will see the price increase in a slower but more sustainable manner.