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Bitcoin Tops $50USD on MtGox

mtgox.com

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Re: Bitcoin Tops $50USD on MtGox

#6

Post by anonfunction »

trg2 wrote: post #3

Are bitcoins in a position to have a crash as tumultuous as last time, or is the currency more stable now overall?

I would say a crash is almost guaranteed, the question is when and at what price. A few weeks ago people were having this conversation when it peaked $30.

Re: Bitcoin Tops $50USD on MtGox

#7

Post by lwat »

trg2 wrote: post #3

Are bitcoins in a position to have a crash as tumultuous as last time, or is the currency more stable now overall?

There are still many people holding large amounts of bitcoin (because they mined them in the early days) and just one of them selling everything would cause a pretty large downswing.

Re: Bitcoin Tops $50USD on MtGox

#9

Post by BrianEatWorld »

ohashi wrote: post #2

Time to sell

It seems funny to assume that. I mean I haven't been tracking the underlying fundamentals, but the nature of most currencies today is that because they are managed, they tend to go up and down. If the fundamentals are solid for Bitcoins, as in there is actually increasing demand (which seems feasible given all the new services advertising their acceptance) and the supply is increasing in tune with expectations (which seems feasible given that it can be forecast with a fair amount of accuracy), this may just as well be the time to buy as it is to sell.

I guess human psychology could also play a part in thinking this is the time to sell, but do the fundamentals actually seem questionable to you?

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