JayJuanGee
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How much alt coin diversification is needed? 0%?


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September 28, 2015, 11:44:07 PM

I don't there will be such a run up in the price of Bitcoin as it did in November of that year anytime soon. I would say the value of Bitcoin was inflated and was not an accurate representation of bitcoin's actual value. I think it will be three more years (2018) before bitcoin goes mainstream. New technology usually takes a long time for people to adopt to.


The future is usually priced into the asset before that future time comes... therefore, if you are expecting mainstream-ish by 2018, then the price would have to go up sometime before that to some extent..

At this point, i doubt it is very overvalued... especially given the extent of the volume increase over the past 6 weeks and the amount of difficulties to drive the price lower than $220 for any extended period of time ... during this past 6 week period.

Anyhow, we will see over the coming weeks and months regarding the price direction, whether BTC prices start to go up or down out of the $220 to $290 range that has been with us for more than 9 months and if those prices are able to stay out of that $220 to $290 price range for any meaningful period of time.