If you look at the exponential moving averages for one and two year time scales you can see a long term correction between $30 to $20 possible -
And if you look at the simple moving averages for one and two years then you can see prices correcting long term to between $16.50 and $20.50 -
Most people (aka the market) thinks bitcoin is undervalued hence the recent rally. Maybe bitcoin is undervalued but the system as a whole has a long way to grow before it can reach and stabilise above its next major mile stone of market capitalisation above $30Billion (value of all above ground Silver). Maybe bitcoin will crash and stablise @~>$20 and the media can all call bitcoin a bubble again
but bitcoin will continue. As like bittorrent there's no real way to really kill bitcoin apart from turning off the whole worlds internet.
BTW: Give me cheap bitcoins
And if you look at the simple moving averages for one and two years then you can see prices correcting long term to between $16.50 and $20.50 -
Most people (aka the market) thinks bitcoin is undervalued hence the recent rally. Maybe bitcoin is undervalued but the system as a whole has a long way to grow before it can reach and stabilise above its next major mile stone of market capitalisation above $30Billion (value of all above ground Silver). Maybe bitcoin will crash and stablise @~>$20 and the media can all call bitcoin a bubble again
but bitcoin will continue. As like bittorrent there's no real way to really kill bitcoin apart from turning off the whole worlds internet.BTW: Give me cheap bitcoins