| BTC valuation is pretty strongly correlated to it's Google Search popularity. There are an amazing number of people who own a little BTC and are in on the hype. And this is like Facebook 2007, where I already thought 'everyone was on it'. No. The 'rest of America' is just learning about it - then the 'rest of the world' - and then the other 3 billion or so people who are barely on the Internet. FB grew for quite a very long time after 'we thought we all were on it'. BTC though is tricky to access, my Mother is on FB, she will never buy a Bitcoin. But I do believe BTC has a lot of popular hype to ride yet. I suggest it will start to wane quite a long while after the press stops talking about it daily. A lot of people will just 'hold' so I don't think we'll see a crash though. There are caveats: The press is notorious for flipping on things. They could turn on BTC and make enough noise. Since it's highly speulative, it's easy to see a flood of people rushing out to 'cash in'. And of course governments: A Scandinavian country could opt to regulate it, or treat it like 'real currency' and require transparency etc. - which for any other currency would be 'great' because it's validation, but really, the whole point of BTC is anonymity etc. - esp. for black market transactions, so really, it's not a good thing. It's a brilliant and fun excercise we're going through, but since it's doubtful BTC can ever be an actual currency or medium of exchange, I really wish we would 'move on' because it's not really a useful thing in the end. Somebody may come along with an actually useful crypto - but i don't think that BTC or the ICO's we're seeing are it. |