nobbynobbynoob
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April 09, 2013, 01:50:54 AM |
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Bitcoin is better known now than it was in June 2011 - now that was a bubble.
If this rise is a bubble - and we cannot really say definitively that it is or is not, to be honest - then it might be just the start of one. Also, no one can really predict accurately how severe the subsequent bear market will be. I doubt there'll be a 92% drop like in 2011, but it could easily be 30%, maybe 50%, easily. Then again, consider the current price, about US$190/BTC. One could buy some BTC right now, say. Or wait for the "bubble" to peak - let's say it rises to $700 but then a bear market ensues and the bottom is at $350, a 50% drop. $350 is still more than $190, so in that scenario, buying now would still be better value than buying in later. But for all we know, the price could drop from $700 to $40 (doubtful but possible).
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