Quote from: Elwar on September 18, 2017, 12:39:40 AM

Quote from: JimboToronto on September 18, 2017, 12:17:48 AM

Quote from: Elwar on September 17, 2017, 12:18:53 PM

We have lived through that 4 year cycle a few times already

A few times already when Bitcoin is only 8 years old?

Is my sarcasm meter on the blink or are you just trolling the bears?

Cheesy

Well...a few being 2 Tongue

I sat through my $10k investment at $17 (right after the $32 bubble) went down to $2 over the course of 2 years. I sat through the $1200 bubble that came down over the course of 2 years to $180. There could certainly be some correlation between the halving and the price rise. Inflation gets cut in half and we have price discovery to find the new value. Overshooting only leads to a downward price pattern which in turn takes all of these new "get rich quick, FOMO" people that buy bitcoins just because they see dollar signs and makes them run away scared as the price is going down. And after a year of dropping price nobody wants to invest in something losing value ("It could go to 0!"). So it tends to drop below the value due to that type of speculation.

I don't see as big of a drop this time as the last two times though since this "bubble" was rather weak. I think the price will mainly be down in the $2k range, maybe dip under $1k on some FUD briefly before starting a new climb to heights that nobody but McCafee would predict.

You have to admit, zooming out to the 2 year chart the pattern looks all too familiar.

I'm still ready for him to do what he promised in his tweet, though. We don't lose out either way, eh?

What we've accomplished in the last few months is impressive nonetheless and I'd be happy with 3000 or 2000 this year.