Quote from: solex on June 12, 2013, 09:06:28 AM

Quote from: justusranvier on June 12, 2013, 07:55:06 AM

Someone mentioned it recently, that the 2013 "bubble" deflate is more like the August 2012 shock than the 2011 bubble.
If so, then it could easily oscillate around $100-$120 for the rest of year, only to begin a further climb in 2014.

In that case more than a bubble deflating it would just have been a correction.

Honestly, that could be still possible, but I don't think so - the hype cycle and speculative mania in March-April was so blatant I doubt we won't see further visits to $80, possibly $50, I won't even discard going deeper than $50 for a bit (but not much deeper, and if I'd have to take a bet, I'd bet that we won't go lower than $50).

This hype cycles always work the same, a lot of new guys are attracted by the parabolic growth, fiat start flowing to exchanges like a river in the rain season, and when the price crashes that money flow just slowly drains out... It's a slow process, fiat pours out of the exchanges slowly, but it pours out because so many of the new guys entered the market just for the quick buck.

Still, there is significant % of the guys attracted by the hype that end up understanding BTC, and they fell in love with it... The core of hardcore-believers is growing, even if the fiat is slowly pouring out. So, we will probably see very cheap coins soon, but nevertheless Bitcoin is stronger than ever.