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December 21, 2013, 01:19:21 AM |
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You see the uncanny similarity between physics (my fav subject) and economic (my 2nd fav subject) is that the wave patterns in physics have a crest and a depression, and wherever there is a crest there is always a depression (unless its passed through a Single phase rectifier) - IS a lot similar to how the graph of any given currency works in the Forex market, Bitcoin is no exception.
Similarly this bubble was eminent all of us knew it would come and compared to where bitcoin's headed this is NOTHING. But always remember if people are BUYING bitcoins then at some point they will want to cash it out for fiat currency and when that ratio is greatly increased then is the time when the bubble pops, and I would remind you Bitcoin's whole rise to the top isnt finished and this wasnt the highest that bitcoin is ever going to be, it will reach much higher than this in terms of value but once that potential is reached there will be an exponential crash which might not be great in % terms but will be in sheer terms of value.
Hence do not view bitcoin as a currency yet, rather as a VIRTUAL-currency-commodity, and dont be adamant about the traditional way Bitcoin is viewed because it is just not correct (in my opinion).
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