Post
Topic
Board Speculation
Re: Bitcoin will never reach $20 again
by
vulgata
on 08/08/2011, 16:52:53 UTC
Aren't those two different, somewhat contradictory points.  The first guy is implying the price should go up, the second is implying it should go down...

They are different, but not contradictory.

The first post was about how price is related to trading volumes, and that for this volume of trading the price should be around $5.

The second was about how price was related to mining, and how current mining hardware supports a price level of about $5 at the minimum (he also says that's the maximum, but whatever).

My point was just that both these people decided on ~$5 as the bottom using different approaches, and that plus the understanding that Bitcoin is not a company stock but a fundamentally different form of currency leads me to agree that is where we will bottom out.