It seems to me that currently most people are buying bitcoins because the market price is appreciating, and the market price is appreciating because people are buying bitcoins.
I believe that it can't be sustainable, especially with a growth averaging on several percent per day ... and especially when the usability value of Bitcoin is steadily decreasing. Sooner or later there must be a crash, and in the aftermath we'll laugh at the "digital tulip mania".
Though, I said so a year ago too - for all I know we'll see yet another year with tenfold increase in market value ... but in my opinion the risk now is very high, a correction is way overdue.
It seems to me that currently most people are buying bitcoins because the market price is appreciating, and the market price is appreciating because people are buying bitcoins.
I believe that it can't be sustainable, especially with a growth averaging on several percent per day ... and especially when the usability value of Bitcoin is steadily decreasing. Sooner or later there must be a crash, and in the aftermath we'll laugh at the "digital tulip mania".
Though, I said so a year ago too - for all I know we'll see yet another year with tenfold increase in market value ... but in my opinion the risk now is very high, a correction is way overdue.
... so to me, a steady market appreciation is important. The growth we have been witnessing the last year is a bit out of hand, IMO.