Don't be so simplistic with your bull/bears nonsense.
I own bitcoins. I am involved in bitcoin related start-ups. I love the utility of bitcoin and do believe it is an innovative platform that heralds something big (bitcoin, or something similar).
I am a former bull. I now think this could now easily go higher ($1000s, $5000s), which I suppose is a bullish statement. However, I am not delusional. There are bears, bulls, and wild hyenas. The hyenas have taken over the asylum. I would have loved to have seen a steady rise in bitcoin throughout the year. I hope I'm wrong and this is a 'snowball' as some have said. I was looking for a steady gain throughout 2013.....
I've seen this before and I tend to underestimate the exuberance of the masses. Even in 1999 (I was very young but trading), I knew we were in a bubble but that didn't mean I didn't profit from it. The people who got wiped out were the true believers, the ones who thought we were going up forever. Know that this is not some kind of 'new normal'. Be a bull, but don't be a stupid bull. Know that this cannot last forever. It works until it doesn't, and then there is a day of reckoning. Have your day in the sun but know that there will be night.
There is no way to know when the Asian gamblers will get tapped out.....
I agree, took you for not only a bear but a fear monger but i took you wrong. I wanted to invest modestly and see good gains like 250 in october. not now!
I agree that there is no way in hell thiss will sustain and it will go down, no for the moment i also agree t hat it could top 5-8k but not much more. if I see a 5k and drops to 4k ill probably sell. but the truth is there is a fuck load of money in the world right now and if people want to keep pooring money in this thing its going to go to the moon. but there will be something> government puts the kibosh on it, hacking, better alt, emp, monster attack, that will tear it down.
im a modest bull. but enjoy the rise for sure.
