Quote from: zkay on November 09, 2013, 03:48:41 PM

Quote from: youbob on November 09, 2013, 03:33:27 PM

Wow it's almost at 400. right now. Can anyone answer this question. Why is Bitcoin raising so much and so fast?

I warn you that people have short memories, for the most part. It was a lot like this in the final runup in april. People saying it can never go down, it will correct only upwards, the insane price movement upward that seemed like it was never going to abate.

Cash at least some out. Take at least some profits. Pack a parachute, that's all I'm saying.

I don't understand all those predictions - what are they based on?
What the hell are you talking about bringing some trendlines? In april someone hacked two largest bitcoin exchanges causing a panic. Devaluation of btc was a result of failure of exchange vehicles. Nobody knows what would have happened if mtgox and bitstamp and the rest weren't hacked. This discussion is a pile of garbage.

There a multiple known factors that can contribute to btc growing in value and those that can bring it down. If someone will show previously unknown vulnerability in the code, or exchanges will crash again, or government will find a way to crash it, it will quickly go down in value. All the way to zero.

On the other hand: further econonical crisis fueled by continuous quantitative easing, devaluation of currency, banking system corruption and real estate crash will likely contribute to further growth of btc value.

Nobody knows what's going to happen next you can only bet.