Well, most coins haven't touched the market. The price of said coins are moot at this point. The demand is most likely not there.
THANK YOU!!
"The demand is most likely not there."
That is the point, yet we're still printing!
I find it from a historical perspective to be one of the biggest bubbles in history, on par with the top 5 collapses combined of the .com crash.
I am NOT saying that this is the end, I believe that when the rate of mining is cut from 50 to 25 it will have a chance, but not until that point.
Just cause one person sells one coin for $35 and then a day later it is worth $5 means nothing cause only two people are involved in that market. And relative to that bitcoin may as well be two people relative to any other bubble you have seen. Millions of people were involved in the housing bubble. BitCoin is not even known or held by more than thousand people. The price on the exchange is almost meaningless at this point. Its kinda like doing math on google stock while they were booting the first server in the doorm at Stanford.