Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Being rich in btc is great but taking a slight bit of the profit you make and put it in dollars can't hurt anyone 
A lot of people did that and are already hurt.
This is why I take a slight bit of the profit I make and put it in bitcoins.
If you want to diversify your bitcoin holdings put part of it in gold or silver! Putting it in dollars is stupid.
Done already, but I am considering doing a bit more now. I am really enjoying the price rise, but come on, it was looking bubbly at $1250 in January, we are almost double that now without a correction of note for a while, and every day sees another rrise.
It really seems like a bot is constantly buying, like with Mt Gox. But I wonder if that is the case, or it is just general buying pressure from new investors.
I don't want to miss the top, but a few ounces of gold might be looking pretty good in the future if this bitcoin bubble pops (and it always has in the past - but maybe this is the new normal!)
Of course it is going to pop at some point.
I really doubt that it is going to pop in the $2300 to $2500 price range -- but hey I have been wrong before.
And if it gets past $2500 without any major difficulties then likely the $3k to $5k range - and yeah, we gotta see how it plays out, but middle of the range could be a fair area for a correction.. however, if we get past the $5k arena, then gosh, who knows, maybe $$7k to $10k would be fair correction points...
It seems pretty fucking likely that we are going to get a correction in the $3k to $5k range - but we have had overshoots in the past, too, and the present does not seem to take away from that possibility that we are going to have an overshooting of expectations - some would already characterize this as an overshooting of expectations, and there is some justification for that - but seems tlie we are on our way to $3k minimum.. and $4k more likely and $5k a bit less likely..