Quote from: Macho on June 16, 2011, 01:07:55 AM

No, it IS going down ... it's just a matter of buyers realizing that fact and that it isn't going any higher (and that around 7000 new BTCs enter the market every day) which is going to happen soon and then ... PANIC TIME! Wink

The only question is, how low will it go before it stabilizes ...

I'll trust you on the figures. So 7k BC at ~$20 are entering the market each day. Soo forgive my poor grasp of economics, we are currently 'creating' $140,000 a day.
Does anybody genuinely believe that this amount of money (and more) is being traded each day to actually buy goods and services? I'm guessing not, so most of this is being sat on as we greedily watch the market rise (rising based on just a tiny tiny fraction being actually actively traded and bought by us speculating or the outsiders buying with cash).

Actually best figures to know would the deposits/withdrawals from MtGox per user (the net dollar/BC ratio) - I suddenly see why that site is more valuable than the 0.65% commission they take.

We spend a lot of time debating here whether this is a bubble, or the start of a new financial world order - but quick look at MtGox should clear it up.
Just wondering if it's possibly to work out the daily net throughput of BC to dollars - if it's < $140,000 then BC are being hoarded and we're going to experience the bubble on the way up and all need to time our exit before it breaks and the market gets flooded.

My guestimate is that it'll we'll slide up to maybe $25 (there's 3000 BC currently sitting there on sell - and that'll halt the market long enough for the doubts to kick it) then it'll slam back down.

What I'm undecided on is whether I should just cash in now (or somewhere between here and $25) or do that and then re-buy as it bottoms out (my guess is on 12-13 this time).