Quote from: Miz4r on February 18, 2014, 05:45:54 PM

Quote from: MatTheCat on February 18, 2014, 03:46:46 PM

Quote from: kireinaha on February 18, 2014, 09:37:36 AM

I'm not sure that we've hit the floor yet; sub $500 prices may be coming later this month and March. A wise speculator would hodl and buy more, because when price rallies to $5000 later this year, people will be asking themselves, 'why didn't i buy any of those cheap $500-$600 coins??' Sounds crazy now but it will happen.

As bear market deniers like to keep telling everyone. Just because it happened twice before, doesn't necessarily mean it is going to happen in the same way again.

What if Bitcoin at the end of 2014, is only $500? Or even less? What then? And why do you think that this is beyond the realms of all possibility?

Oh it's a possibility alright, but I think that possibility is small if you look at all what's happening around bitcoin. But who knows, a longer term bear market of a year or two is definitely within the realms of possibility if issues keep popping up and the infrastructure isn't growing as well as people thought. Masterluc, by many considered to be the best analyst on this forum, has predicted exactly that and people laughed at him. I personally don't think it will happen, but anyone who simply discounts this as a real possibility is not being realistic. The opposite could also happen however, and bears who discount the possibility that the price will start rallying in the coming months towards crazy new highs are equally foolish.

Every new and upcoming technology will always have setbacks. I am 100% confident in the growth of bitcoin on a long term scale, but I think in the short term it is going to be a rocky road... Still opportunities to buy on the dips (and sell on the highs if that is what you want to do). The astronomical margins are probably gone for the time being however...