Quote from: Vycid on December 01, 2013, 08:45:18 AM

Quote from: rpietila on December 01, 2013, 08:35:26 AM

It is possible that we are entering in the same kind of phase now, but if that happens, everybody is just so rich anyway that I rather hedge my bets and do comfortably in both scenarios.

This is entirely reasonable. I've spent many years trying to beat the traditional markets and diversification is not lost on me.

Besides, if you can guarantee financial security without significantly diluting your position, that is always the correct decision.

Quote from: rpietila on December 01, 2013, 08:35:26 AM

Now there should be selling, because the price is objectively high, but many delay the selling until bubble has popped, steepening the decline.

I disagree with this. By no means is the price "objectively high", especially if we're using early 2013 data. The run-up started at ~$15 in January, and the bubble terminated around ~$130 in March. This most recent movement started around ~$140 and we are now around ~$1160.

On a comparative basis that makes $1160 seem fair, if not a little on the low side.

It's true that the timescale is compressed as compared to January-March, but the newscycle is compressed also.

My wild speculation is that we're going to camp out somewhere near this price into early 2014, and then we'll have another wild ride around February.

+1
My guess is we're gonna have a new ATH later today (before the weekend is over). Let's see.