Quote from: flounderella on December 24, 2017, 03:56:56 AM

Quote from: theymos on December 22, 2017, 08:28:00 AM

I've been feeling that the price jump has been built on FOMO speculation for a while now. I think that the real, solid base is around $6k (roughly following the longer-term linear trend), but I expect speculators to stabilize it if it reaches $10k, at the very least, and then those prices might or might not stabilize.

So IMO $6k and below is "solid", $6k-$10k is semi-solid, and everything above $10k is a house of cards. No idea what'll actually happen in the next few days, though; it's pure speculative madness. In the next hour, I wouldn't be surprised to see a drop to $10k or an increase to $16k.

I agree with this. This mostly felt like get-rich-quick types jumping on. Once they are disappointed and broke, we should settle back in around 6-10K and move sideways for a bit, which is not bad. A lot of the altcoin euphoria is out of control as well and there would be serious losses.

We can do away with 95% of the alts and the market would be much healthier.