Thursday, June 20, 2013

Bitcoin prices on the rise again

     Tell me I'm wrong but it is looking like the price of Bitcoin is back on the rise again.  After capping out at approximately 240$ a few months ago it then plummeted down to around 60$ USD practically overnight.  I'm not claiming this might not happen again but it is looking like now just might be the time to get in on the Tulip Mania like craze again.  Buyers see it start to go up and they start going mad and keep investing more and more until some unforeseen matter happens, be it hackers or bad publicity or some major holder like the Winklevoss twins decide to cash out.

     A few days ago it had been hovering around 100$ for seemingly weeks.  Yesterday it hovered a little higher around 103$ and current market prices are showing it's price up at 112$.  I may be wrong, I'm no stock tip analyst by all means but I watched this happen last time and only wished that I had invested more ahead of time.  It might not hurt to dabble.  I'd just advise to not risk more than you have to lose.

     What do you think?  Is it going to continue this skyrocket or is it more liable to plummet right now?  Maybe it will just stay around the same and continue to hover.  I know with the way it was going there for awhile up to a few days ago it was getting pretty reliable to where you could call BTC 0.00001 the equivalent of 1 US cent.  Now it seams that those pennies have inflated to currently having a market value of 1.12 cents.  If it drops again I doubt that it will go under 100$.  However, if it does continue to skyrocket, who knows, maybe cash out at 300$ this time.

UPDATE: 10 weeks later. Average BTC price = 130$.

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