Quote from: jjacob on December 15, 2017, 08:32:57 AM

Quote from: fabiorem on December 14, 2017, 06:36:23 PM

Quote from: sgbett on December 14, 2017, 01:17:13 PM

Yes thats what is freaking me out, it doesn't make any sense. A parabolic run up like this has *always* ended with a significant correction in the past, followed by a longer retrace and then a new bottom higher than the previous ATH, to springboard off.

Paradigm shift.

Bitcoin is not a stock, it is a revolution.

That may be true, but we have come a long way from 2009. Bitcoin has now become big enough to be a separate asset class. With a large number of investors, it might very well start behaving like a stock in terms of price.

Exactly, right now people are using bitcoin as a speculative tool, instead of what it was initially intended to be as - a currency, an asset, a store of value. People that joined in 2017 onto the train do not understand that bitcoin can crash, and it can stay low for many years. All they've seen is a booming bitcoin that never stops and that feeds itself into the bubble.

So yeah, in a sense, it is like stocks, perhaps even more speculative. Bitcoin techonolgy is a revelation but right now, that technoolgy isn't used much.

There is going to be a top for sure, but $16500 is not it. We're going to hit $20k, even though it may be a bubble.