Originally posted by FrontEnder
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agreed legitimizing BitCoin will increase trust and therefore attract a wider audience as an investment instrument
so let's assume the world trusts bitcoin like they trust gold
gold is simply a store of wealth, yes it is traded, but the majority use it as a store of wealth and as a store of wealth gold's price does not rise exponentially year on year
and hence, when bitcoin reaches its stable price and the graph becomes horizontal
what will the price of bitcoin be at that point when the price chart is level ? will that price be 20kU$D or 200k U$D ?
when the price plateau's and there is no more upside, will all of the traders/speculators bale out ? or will they patiently sit and hold ?
if the traders bale when the price stabilizes, ie when the price chart becomes flat, then the price is going to go through a correction
how big will the correction be ?
Milan
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