Crash, Correction or Climb?

[f1lt3r]

My guess is a lot of the people buying Bitcoins right now are more interested in making their returns in dollars on a crash or correction, than actually having Bitcoins and using them as currency. Bitcoins are about to hit $225 per coin, crazy!

Am thinking Bitcoins will keep climbing for a loooong time. But I'm also unsure whether the climb can remain so steep for so long?

[SilentSonicBoom]

Parabolic climbs in price can't last forever. The problem is knowing when to get out which is very difficult.

[f1lt3r]

Makes sense.

The way I am thinking about it... I really want the Bitcoin more than the monopoly money. So I've been storing a portion of the profits in USD thinking... this has to go down at some point.

The thing that gets me is that I still feel like a lot of people are only just getting on board. Cyprus made a difference last week, the media buzz made a huge difference this week. Next week... maybe Joe Shmoe also figures out how to get on the exchanges and the week after England's debt comes home to roost. This has the potential to climb for a long time.

Better safe than sorry anyway I think. A little here, a little there.

[wiak2]

Climb up for a while, lot of big money starting to get interested.

[vivob]

Personally for me that currency aspect is not so much interesting as in the startups built around them. Honestly, I am a tad skeptical of the price increase. But anyways. Better than devalued fed notes.

[nobbynobbynoob]

Personally for me that currency aspect is not so much interesting as in the startups built around them. Honestly, I am a tad skeptical of the price increase. But anyways. Better than devalued fed notes.

Totally.

But the USD price does matter as a rough indicator of the purchasing power of one BTC. I mean, an exchange rate of, say, 5000 USD for 1 BTC would make it much easier for me to set up my own (probably bitcoin-related or bitcoin-accepting) startup business in whatever guise. Honestly, 200 USD per BTC is just very small change...

[Insarov]

I had that mindset initially when I bought in around 140USD, but now I'm thinking of holding until I can just spend BTC directly.  Maybe I'm a bit too optimistic that this will actually become an established currency--but if that does happen, one can't even compare the BTC market to anything else, so speculation becomes difficult.