yep, people talk a lot, but i look at market cycles. Unless BTC is fundamentally flawed (we all know its not) or will somehow be killed (gvnt isnt that organised) then the market will go through these crazy cycles in the first years. Since most of the world does not yet use BTC, then as new markets move in, so do new buyers.

Imagine what the price would be once SAmerica, IndoAsia and AFRICA start jump on board. Since this hasnt happened yet, I think we are still on the bull trend. I think about 1-4% of the world uses BTC or is aware of it now, thats a lot of upside potential...

Anyway, my logic is (while on bull trend) price sets new higher highs followed by higher lows, then higher highs then higher lows etc. So, $6 low to $250 high, then $50 low to $1200 high, then $400 (or 300 or 200 take your pick) means a new high of....

as long as, on this next low price happenig now we dont go below 50$ (the last low) then we are still on bull trend:)

my bet is down to 350 now, then up to 800 by xmas. if Argentina jumps in, then 1500. If we get lucky in the next 8 months and some African nation jumps in, then new high of 2000 is my target:)