And anyone who bought in at $15k-19k is left holding the bag, as expected.
It will either very gradually climb from there or stay steady for 3 years or so and then experience next crazy ride up.
Then most of the guys who bought for 15k will sell.
The point is, people buy bitcoin with money they don't need anyways so they can go long and most of them will because bitcoin apparently can't die no matter how many bubble popping it experiences.
>Please don't comment about the voting on comments. It never does any good, and it makes boring reading.
Most times not because I was downvoted (and then only to ask for an explanation IIRC) but because it seems like people are misunderstanding or IMO abusing the downvote feature.
Buying it now is fairly reasonable. Though, I wouldn't be surprised to see it crash yet again, even harder, but it felt like buying on that upswing to 20k was suicide.
In 2011 (or something, I'm going by memory) it rose to $30 before crashing back to about $5. In 2013 (still the days when all people had to do was spam a few forums) it reached $10, $100, $200 before stagnating until MtGox and Willybot pumped it up to $1k.
ISTR some people back then were predicting $10k BTC by the end of the next year (end of 2014). Instead it was about $500 or something, and BTC didn't reach $1k again for about three years (the start of this year or end of last year).
I'd wait few months. If it is actually crashing not just backing up before next silly raise then you'd be better off waiting till it settles after the crash. It usually takes few months or a year.
If you don't want to gamble, bitcoin is rather long term investment.
Anyway I invested the $100 and I am down, but whatever it's like going to the casino and gambling/losing it all.