Originally Posted by Fedaykin
.. and dropping like a rock (currently $61), as all the people who have large reserves start cashing out.
Like I said before, a few people are going to get rich -- everyone else is going to get screwed, just like all bubbles.
That's usually how short term trading works. The most you can lose is 100% of your investment. Those who bought bitcoin at the beginning of the year are up 1000%. That's still short term.
Long term, I see bitcoin going to either 0 or 10,000+. That's still a great risk/reward payoff. The last time bitcoin crashed it went from $31 down to $3. This time it has to fall from $260 to $26 to see the same drop. Next time it could fall from $2000 to $200, but I doubt it will have the same volatility in a few years.