Post
Topic
Board Speculation
Re: Perhaps the crash was only a correction
by
Wuji
on 12/04/2013, 20:38:01 UTC
Sorry to repeat myself:

$83 or so was on March 23rd an inflection point where we kicked into a higher rate of exponential growth.

This is where things got unsustainable and people started screaming "Bubble!" or if they were doing so already, shouting it even louder.

If we see the price dip and gravitate loosely around this point in the next few days we would be on a previous upward trend which stretched from Jan 9th to March 23rd and to some degree, beyond.

Bear in mind we are seeing a decent-sized bid wall at $76 and that the ask wall isn't so much a wall as a gentle ramp.

Pick your entry point, gird your loins and ride this up.

Actually most investors I talk to were screaming Bubble based on the run up from Jan to Mar. 17th (after that they were just saying tulips).  They are interested in tangible commodities and not virtual commodities.  When BTC is adopted as a currency and passes the regulation litmus tests then I expect it to go sky high.  Until then I don't think most real investors are taking this seriously or even getting involved (none I have known for 10+ years are).  I only bought in below $14 a long time ago because I'm a computer guy and think it is a cool idea.