Hey guys, I posted a pretty long and in-depth analysis of my view of the current state of bitcoin here:
In short, I think we are in entering a bubble but there is still room to run. Would love to hear if someone disagrees with the reasoning that I posted and why!
Also check out my bitcoin paper trading app!
www.demoinvestor.comEDIT:
It won't let me post the link properly for some reason. Here it is:
https://www.facebook.com/TBCPredictions/posts/881948598612117 copy and paste, switch the B and the T
I took a look at your post and I thought your reasoning was fairly sound, although your estimate of a 4000 USD peak in price sounded like a complete guess. This rapid increase in the value of the bitcoin not only mimics the crash in 2013, but also the massive stock market crash of 1929. The value of stocks were soaring before this point, but once prices started to fall, a massive wave of selling occurred and prices plummeted, causing many people to lose everything. In the short-term at least I do not believe we will see a crash in the price because the demand for the BTC is continuously growing and I do not think most investors plan on selling all of their bitcoins anytime soon.
I think almost everyone that wants to sell, wants to do so in anticipation OF a bubble, so they can rebuy MORE BTC. This process counters the "bubble popping" phenomenon. I think we will repeat this false bubbling process a few times before blowing one big enough to actutally pop.
Unless we can all summon the powers of kwukduck and convince enough people to panic sell . . . But it would take a FUD campaign of epic proportions. We'd need translators in 50 different languages!