On the short term, what do you think is going to happen to the price of BTC?
Like water spinning through a drain are we going, down, down, down?
Or do you think things will things recover like nothing ever happened?
for both scenarios,
we are the ones creating this sentiment. "We" means the
bitcoin community.If the "doom and gloom" sentiment prevails, we're going down down down. If the "monetary revolution" sentiment prevails, we're going up up up.
Right now, the correction from $260 was like a breath of fresh air. Now it's again possible to voice various opinions. Right now we're not going to moon, mars and beyond, rather we stay in Low Earth Orbit for the moment. Also it seems that no single camp, neither bulls, nor bears, has a clear majority. Thus personally I would not be surprised if nothing significant happens at all -- at least for some time. A bit up and down, but no clear prevailing trend.
For the further development, I see two tendencies. One is to realise that actually the Bitcoin economy isn't as mature as we might have dreamed up. This would indicate a bit of sobering. The other trend is that we achieved wider visibility and this simply means the community grew and a lot of new members also want some BTC to play with, even if the fundamentals haven't changed.
