The bottom is in when everybody (I'm pointing to oyvinds, who is a reasonable guy) just makes up reasons why the price would fall further, to justify that they are selling out of rational grounds, and not out of FEAR, meanwhile happily ignoring the actual driver behind bitcoin price, which is bitcoin adoption. To keep it as simple as possible, I present only the following figures:
Block 270,000 (2013-11-16) 0.93 million non-dust addresses
Block 290,000 (2014-3-11) 1.34 million non-dust addresses
How can the price go down as bitcoins are being diverted to more and more hands, and the average dollar amount the new hands invest stays constant? Sure it can go on for 1-2 more months (2 months is my guess) or even longer, but the resulting upside will be that much more spectacular.
Wake up to some math now dudes!
Block 270,000 (2013-11-16) 0.93 million non-dust addresses
Block 290,000 (2014-3-11) 1.34 million non-dust addresses
How can the price go down as bitcoins are being diverted to more and more hands, and the average dollar amount the new hands invest stays constant? Sure it can go on for 1-2 more months (2 months is my guess) or even longer, but the resulting upside will be that much more spectacular.
Wake up to some math now dudes!
