I think it's 50:50 that it'll reach single figures.
This bubble seems to be about the same size as the 2011 one -
2011 $30 dollars at peak instead of $2.50ish by my reckoning (12 fold increase on growth estimate )
2013 $266 dollars at peak instead of $21ish (12.5 fold increase).
If anything, I'd imagine it'd fall deeper than 2011 (in which coins sold at $2 instead of a predicted $4 dollar value), because of the higher absolute values concerned and larger number of bitcoin holders who are probably not enthusiasts, and won't have the same faith it'll rise again, causing more depression.
I think it'll rise again though, I'd put money on it....
This bubble seems to be about the same size as the 2011 one -
2011 $30 dollars at peak instead of $2.50ish by my reckoning (12 fold increase on growth estimate )
2013 $266 dollars at peak instead of $21ish (12.5 fold increase).
If anything, I'd imagine it'd fall deeper than 2011 (in which coins sold at $2 instead of a predicted $4 dollar value), because of the higher absolute values concerned and larger number of bitcoin holders who are probably not enthusiasts, and won't have the same faith it'll rise again, causing more depression.
I think it'll rise again though, I'd put money on it....