$500 bitcoins !!!!

What can I say, one bitcoin will today set you back more than $500, its phenomenal. Is $1000 far fetched ? Got to say no. Although price might collapse then re-spike before then. Or not…

Heres how it looks on a chart showing the price since 2012 with 1 week candles.

Does that look insane or what?! However on a log chart it looks a lot more sensible, at least at first glance. Heres an all time chart showing the price climbing from about zero to $500

I’ve been reminded by ‘ockolz’ in the comments about my prophecy fullfilled, back when bitcoins were priced at about $32 each.. which was only last February by the way I wrote the following post bitcoins could reach 500 dollars

Naturally I have to take the chance to gloat a little bit. Even though it sounded quite crazy even to me as I wrote it, looking at the log charts and comparison with the 2011 bitcoin bubble I had to conclude that bitcoins could reach that dizzy height, as they now have

I finished that post by saying:

“If the price was to take off as it did in 2011 and spike up to the same trendline what was $32 back then is more than $500 today. Quite a thought. I’m thinking it might be time to load up on bitcoins while they’re cheap!”

If you have done that, then congratulations you’ve done even better than if you’d invested the money in an ISA !!! (apologies for repeating that joke couldn’t resist)

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4 thoughts on “$500 bitcoins !!!!

  1. Really love your site! It’s insane how fast bitcoin keeps rising. Really kicking myself now for not buying some at the beginning of the year when i had first learned of them. I have been following the price of bitcoin more closely over the past few weeks with the intention of buying some when the price dropped (still waiting for that to happen!) Do you feel like there will be a price crash coming any time soon or would you recommend buying now and riding the wave?

    Thanks,
    Morgan

    1. Hi Morgan, I’m in a similar dilemma.. seen the price virtually double since i sold some bitcoin recently. It went up another $100 while i was sleeping last night! Now wondering if I should get back in or wait for a possible crash before getting back in. I think that the market is much less reliant on MtGox infrastructure than before so may not be in danger of such a huge spike down as in April.

      If I didn’t have any bitcoins I’d be tempted to get some now in order to have a part of this rising price. It is exciting and in another year $600 ‘could’ seem cheap and you’d be kicking yourself again. but don’t spend more than you can be comfortable losing is my best advice, the price is going vertical and huge corrections will happen eventually.

      Glad you like my site, check back again 🙂

  2. $788! Your fork is invalid now. Have to find one steeper! We’re going to somewhere unexplored with no map and no compass.
    I’M FREAKING OUT!!!!!!!

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