And I predict it’ll continue to climb as geo-political turmoil continues.
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Its going to keep rising until something funny happens: like in 2013
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I have a feeling the Bitcoin would be falling soon. I saw this chart where Bitcoin was compared to gold and it showes that the Bitcoin was almost as valuable as Gold.i believe Many people would be interested to buy Bitcoin which would in turn force the price down, also I dont expect Bitcoin price being higher than gold for so long, and I don’t see gold raising more than few dollars from its current value.
Many people != price down.
Unless you’ve managed to invent a new law of economics, the higher the demand, the higher the price.
Bitcoin is experiencing a bubble and like all bubbles, it is driven by greed and the promise of quick profits and would burst in the same way. Buyer beware.
Probably I wasn’t explicit with my post, there is this craze for Bitcoin ATM. I know a lot of people who don’t really understand Bitcoin and are currently dealing in one form of Bitcoin transaction hoping to cash in big because someone told them they would. But the thing is they will end up disappointed at some point and pull there money, SO in few months when demand falls, price will fall.
Really it’s crazy how it went from being around N100k+ in 2015 to almost N500k now.
One needs to understand the underlying reasons why bitcoin is rising. Its not just a vehicle for speculation its also the underlying currency that under-girds a new financial platform.
Here is one use case. Imagine the implications for “bitcoin the currency” as more transactions migrate to “bitcoin the platform”
http://www.coindesk.com/why-theres-still-hope-for-bitcoin-remittance-companies/
The migration of financial flows from regulated (read closed walled off forts) systems to truly open markets compresses transactions costs. Bitcoin as a vehicle compresses transactions costs because there is no regulation overhang (the cost of actual regulation and the anti-competitive nature that regulation leads to).
I think Bitcoin will continue to rise.
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I’m having difficulty seeing old and risk averse people choosing Bitcoin as a savings haven, but it’s a theory.
Bitcoin Drops 23%, Recovers Below $1,000 https://t.co/TZXCKrLP5P