I'm interested in a formal r/fakeid discussion regarding the price of bitcoin right now.
Discussion Points
How do you feel about bitcoins current price?
Do you think its going to continue to rise? Or do you think the bubble is going to pop?
Are you going to buy or are you going to sell?
Vendors, how do you feel about the rapid growth?
Posted Dec 22, 2016, 7:28 AM UTC · edited
Also interested
Shit I just sold all my btc that I bought when the exchange rate was around $720 for 1 BTC. I'm probably gonna hold off on buying to see if it'll go down tho.
As for the overall price, I think it will continue to increase over time, as it always has. I remember last year it was around $300 for 1 BTC. And when Bitcoin was first introduced/discovered 1 BTC was like $20. I would love if it popped and dropped to a ridiculously low price but one can only hope
I read by some analyst that Bitcoin prices were gonna continue to rise safely until January when Trump becomes president. Ever since the elections, it's been going up
Been thinking about this quite a bit too. What did the price used to be? Have people "invested" in bitcoin by purchasing large amounts in earlier years and now have a greater value since the price has gone up? I'm not a financial analyst by any means, however I have listened to/read many stories on the increasing popularity and functionality of virtual currency and the blockchain, so I imagine the implementation of these in everyday life is inevitable at some point. Whether that entails an increased value for bitcoins or decrease in value due to influx and growingly easier access, guess we'll have to see.
In December of 2015, the price of Bitcoin was around $370 for 1 BTC. By the end of the month, it was around $430. In the beginning of this month, the price of Bitcoin was around $730 for 1 BTC. Currently it's around $860
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I think the bubble will pop once it gets to around $1,000, personally. That being said, I don't think it will pop as hard as it did last time it was at $1,000. I think it will settle back in the $700 range. Concerning the rapid growth - I wish more people would buy now, when the price is lower ;)
The past couple years the price dropped sometime in January after China dumped their Christmas BTC. ~18% drop last year and ~37% drop the year before. I think it's either gonna continue that trend and drop 20%-30% a week or two into the new year or it's going to $1000 and crashing like in 2014. I'd sell if you see ~$950 before the first of the year and buy back after it crashes at $1000 or sell a few days after the 1st of the year and buy back a few days before the inauguration and hope Trump sends it flying.
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That price has me very sketched out to be honest and I think that bubble is gonna pop soon it's the highest its been in 3 years and it's just nuts
I'm very sketched out also. I had 400$~ usd lying around since summer (when it was like ~500) and I'm debating what to do with my investment right now.
Honestly it's a risk with what you want to do with it I mean I don't see it like dropping tomorrow obviously but if it's getting around the thousands I would try to sell it then and not wait any longer I don't know maybe that's just me
Sell enough to get your 400 back out then leave a little in in case it keeps rising more
World issues aside, we knew this was going to happen but people have short memories. $13 in 2012? It's following that same pattern to the T- I highly doubt it's a bubble, but money always acts in mysterious ways...
Edit: xtra autistic formatting
For those who can't do the math, that's a 1700% ROI over a few months