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December 26, 2013, 12:52:38 PM |
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It's hard to predict short-term trends, tops, and bottoms because the price depends so much on external events we cannot predict, like announcements by governments and investment managers.
However, history tells us that Bitcoin seems to have strong rallies, often with panic buying by newbies near the top, then sharp corrections, often with panic selling by those same newbies near the bottom. There then tends to be some sideways movement before the next rally. We've just finished a strong rally, a deep correction, and a period of sideways movement. The most likely scenario is that a new rally will develop soon, although the exact timing is impossible to say. This looks like an excellent entry point.
The long-term trend is easier to predict, and the future looks very bright. Buy today, hold for years, and you stand a good chance of becoming rich.
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