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March 05, 2013, 06:39:27 AM |
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I think this rally is making money for a lot of people, rather than just a few people like in June 2011, not to say that many trigger-happy early adopters, who can liquidate tens of thousands without any hesitation, are mostly out of the game. So once a crash comes, a lot of people will be in a comfortable position to cash out and reinvest, including bears who can't wait to get back in, obviously the majority of late buyers will get burned, but if let's say, the price plunged 60% to like $15-19, the buying pressure coming in from people reinvesting part of their profits may well be enough to prop the price up, a further plunge to below $10$, especially $2 is unlikely to happen, though the chance is not negligibly small, my current estimation of the "absolute bottom" is somewhere around $7-$8.
Your thoughts?
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