kettelseven

Which way are we going?

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
201 1 0
Bitcoin has been truly unstoppable in November. The 100% gain of October is now water under the bridge. As November comes to a close the price action             is finally showing moderate resistance at gold             levels. The question is how much gas is left in the tank, or did we just set a new paradigm? Did Bitcoin just hit a tipping point of high demand for years to come? The general public has heard of it, and is interested. CNBC can't shutup about it. It was a major topic at my extended family's thanksgiving (admittedly due to me) and I'm sure at others.

Is this rally powered by a renewable resource             , fiat currency? After all, fiat is created out of air. It's a real possibility. Ultimately, is one bitcoin really worth 1200 USD or do we need to get cozy with triple digits again? We've all seen this chart http://marketpredict.com/articles/images/bubble-lifecycle.gif --when the herd thinks a new paradigm has been set its the right time for the sheep to be slaughtered.
Great stuff man.
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