$16 for 1 Bitcoin, that's really cheap but we also had some people having this opinion at that time,
10) Last but not least, who the hell is stupid enough to pay $5.00 now for a bitcoin?
I am sure this person would be laughing at his own post now if he is reading this.
Anyways, it all depends on the demand and supply and we had a great demand and supply over the years for Bitcoin which gave a rock solid boost to the price of it. I know, it is irrational to predict anything concrete considering the past performance but we can always predict the possibility of the future growth by analysing the past and current trend. I believe that with some major long-lasting price corrections, Bitcoin will perform very well in the long run.