[cvsh]

>Despite this, I can't say for sure that they'd sell given some serious volatility. There's a growing cult like groupthink attitude best represented by the phrase "HODL".

True, but the rise in price seems to have largely been due to newcomers entering the market who don't share the attitude of longtime HODLers. See: Coinbase shooting to #1 on the App Store. I think that raises the odds of a crash considerably. The new crowd is in it because they expect the rally to continue and if they realize it won't, they'll want out en masse ASAP.

[adameast9000]

Yes. I may have not been clear, I do think BTC is in a bubble. When my 60 year old parents, who can barely figure out how to use netflix are asking me if they should buy bitcoin, there is a serious problem. Though I do not think it will be as bad as people like OP are predicting. 1000 entities control 40% of the circulation of BTC. They will be much less likely to liquidate in any event. Thus you have some solid stability there I suppose.

On a semi related note, I'm curious to know more about the profile of altcoin holders. In the event of a BTC fallout, would these crash as well? Or will we see a rush to those currencies due to the inevitable difficulty in converting BTC->USD/EUR/etc? I have so many questions...