Bitcoin Forum

Given that I believe commodity monies are grotesquely undervalued - I certainly have no plan on buying fiat with my BTC even at triple the current prices, honestly - I think this is a bit of a "bubble" only because the price is rising so quickly. Of course, in a few years, should the price be $5000 per BTC ($5 per BTM) or whatever, we can all look back to the fond memories of these earlier days and laugh that we thought this rally (or indeed the 2011 spike) was a big deal! :)

Agreed. And I have been staring at that picture of the bubble for far too long.

After the first bubble, Gavin predicted we would have at least 2 more major bubbles before the price stabilizes.

No idea, but that's a cool pic. 

Who's Gavin?

It is in fact highly unlikely that the price will both reach an all-time high and not retrace significantly. Bitcoin's history (albeit short) does not allow for this phenomenon:
https://i.imgur.com/fNW6IY6.png

https://bitcointalk.org/index.php?action=profile;u=224

The last time the price was in this range it would go haywire whenever the price hit $20.

Stable stable stable...$20...rollercoaster ride...stable stable stable...$20...insanity

Very interesting. But do you see the lows after retrace are always higher than the last all-time high? If this is correct, then we will never go below $31.9 again after the next all-time-high

And don't forget, by definition, retrace is the ONLY possible event immediately following an "all-time high", or that won't be called an all-time high.

I'm saying that with new highs comes departing stability. If we do reach a new high, we will not be plateauing there—up and down but not sideways.

And $31 is an interesting level because the 365-day average spot (London fix) silver price is $31.15

Expect news headlines when one bitcoin buys more than 1oz of silver.

Looks like everyone was wrong except the $40+ people!  adam didn't have the foresight to have options for $60, $100, etc :P

Exactly... Sometimes things don't pop.

I've witnessed the China real estate "bubble". People made fortunes while many stood at the sidelines shouting "bubble". It wasn't. Immature markets inflate quickly. When we look back, we realise how cheap things were.

THX for Bumping this.

Amazing, I voted 18  ::) .

Good thing I don't speculate, or I would kick myself in the Ass, now.

This I was in china Shanghai in 2005

I looked at real estate prices and could not believe how cheap it was considering the infrastructure level

I was right

The poll is rigged! I do not see 100 000$ and 1 000 000$ option. Not even 100$ and 500$.  ::)

Yeah me too... since '99.... from cheap-as-chips houses and empty nightclubs to London prices (and Lamborghinis on the streets) in a decade. And no big pop at the end of it -- just a market levelling out.

Dead right

the only problem is security of tenure for foreign owner and how to buy....its quite a nightmare....and they can easily kick a Westerner out for a million reasons

So how long before Bitcoin passes $32 based on this chart?

Just goes to show how shit TA is, and I am speaking as somebody that has tried  :-\

People in the past are always so stupid :)

or what about aftertiming being the greatest science of man ? :)

This entire universe is a bubble. We are living in a "false vacuum" that can collapse anytime.

I highly doubt we'll see $32 in the near future. If you look closely at the chart, there isn't yet a case where the retrace takes one below the second-last high. I don't even think the retrace has started yet.