Bitcoin could score above 1,000 $, even 1,700 $ (expert says)

The bubble might inflate further. We'll see.
One guy quoted by Forbes says it could reach 1,700 $, even...

http://www.primevalues.org/market-watch/bitcoin-bubble-growing-higher.htm


I was quite emotional when it dropped last Wednesday from 823 $ to 375 $. I though, that was it, Bitcoin is finished!
But it recovered rapidly,... wow. It's again well above 700 $!

Bitcoin doesn't resemble anything. It's not like the forex market currency pairs, it's not like a commodity. Behaves very differently.

 

Wow, true, that could happen

Then Bitcoins will be worth as much as solid gold. Obviously the latter are better due to intrinsic value - for the long term investor.

 

How do you mean?

 

I lost something like $800 on that deal, lol. How the hell is it possible to lose $800 buy buying 4oz silver? I feel like the 10,000 btc pizza guy. :/

 

Try these charts.

http://bitcoinity.org/charts/gold

I think it is a case of a "perfect storm" where btc/gold are concerned.

Also as suggested, there are bitcoin stock markets and the like, returning dividends. A bitcoin mining company called ASICminer was one of the most amazing performances I've seen. IPOing at 0.1 btc, and topping out at around 4.5 btc per share. When you take into account how much btc increased in price over that period, it was pretty incredible gains. Plus the initial share price got refunded many times over in dividend return.

 

2010 - Present. BTC/Gold

 

If silver was to start rising by even a dollar a day, just watch the queues form outside the bullion retailers. Speculation anyone :lol:

But Oohhhh NOOOoooooo don't waggle the finger at silver.ever.

 

wow fuck me. You made my day a lot better. All the best.

 

Of course, it will pop. And tremendous losses will be recorded afterwards. It's a speculative bubble.

 

That means that currently, for every 583 people, there is only 1 bitcoin to go around. Perhaps in the future, to even hold just a fraction of these badboys would mean your wealthy.

 

I'm cashing out a 1/5 of my stack for BTC and LTC.
I'm not going to bother with the rises and drops at this time (although I do hope BTC goes back down to under $500 before I buy).
Then I'm just going to sit on that mother for 1-2 years and see how it goes.

My logic behind this is that while BTC may be going crazy at this time, it's still only a very fringe asset that the mainstream does not yet understand.
If hedge funds start getting into it, we could start seeing rises even more stupid than this one.
Is BTC a passing fad? Week after week it gains more support, the infrastructure looks sound and it offers a utility that other traditional assets do not. Most importantly for me, it is a market that is not manipulated to high heaven.
Take a look at the recent $50 crash in gold - nothing drove that other than some entity selling a pile of ETFs to slam the price down.

I'm not cashing out of PMs (I doubt anyone here is), but I think it makes sense to diversify into LTC and BTC. LTC probably has more potential on the upside like silver did 10 years ago.

 

Anything is possible

Apparently at the height of the tulip mania a pair of tulip bulbs traded for the price of a house

 

I wish Bitcoin mania would get to that stage!
But we're not there yet. The way you make money is to get onto something before everybody else does.

Now the question is:
If you jump onto the BTC/LTC bandwagon now, are you too late? Or are you still in the pre-mainstream early days?
I don't have an answer to that question, but what I do know is that Bitcoin isn't yet mainstream. I'm not even sure it will be, given the threat it represents to state-sanctioned currencies.
But then, gold is not a state sanctioned currency, and it does OK (relatively).

 

Speculators have been asking the same question of Bitcoin for years.

Bullion Barron has nicely skipped over the issue of silver speculation. How many people are speculating in silver?Ohhhh nooo we can't ask that