What do you consider a "bottom" price for bitcoin ? or a "high" price ?
This thing has no possible valuation, because it has no utility, no intrinsic value. The whole thing is just crazy.
This thing has no possible valuation, because it has no utility, no intrinsic value. The whole thing is just crazy.
People buy drugs with it. People evade tax with it. People evade currency controls with it.
When will people stop making this crazy false claim?
As for "Evading currency control" it doesn't mean anything for individual, i'm sorry (unless you're an autonomous region trying to get rid of central bank policy, but i don't think any has adopted bitcoin yet)
Bitcoin is backed - by the opposite of the government - the DEA keeps cannabis, cocaine, and heroin illegal, which means that Bitcoin is actually useful for moving money around for drug dealers and terrorists; anyone who can't use the mainstream banking system due to prohibition by the US government. (North Korea is another example of who's not allowed to bank.)
However, this does not let us calculate how much a Bitcoin should be worth, it only allows us to say that there is actually a use for Bitcoin, and it's not purely speculation.
Could drop again today and I'll be out some. Whatever, it'll go up long term, it always does.