Still, with no fix for the blocksize limit coming through in the near future, I don't think the price can continue growing to the moon; transaction volume is already at it's capacity ceiling, fees for transactions have grown a lot over the last weeks and are significant enough that it's quite clear that bitcoin cannot be used for daily payments unless the block size is increased.
I've been optimistic for quite a while now, surely the community would get together and agree on some good compromise plan wrg of capacity increases ... but, alas, apparently not. The grim reality I'm seeing is a full stalemate.
The current price reflects a belief that bitcoin is a viable alternative to cash - that is the vision I bought in at - but it isn't at the current capacity limits. Currently the almost only legitimate use-case for bitcoin is as an alternative to international bank transfers - and if the sender wants to send fiat and the receiver wants to receive fiat, one would probably be better off using the existing centralized fiat-based services instead.
I'm predicting the price will fall substantially in the near future.
I hope you didn't cash out 6 months ago :|
My average bitcoin holdings since November last year has been fairly low, "it can't grow more than this, come on, we'll get a correction soon" ... huh, I was very wrong about that.
On the positive side, I did manage to cash out some ether while the price was near ATH. :-)
I guess in hindsight now we could say you were just a little off about the price drop being in the near future!
Cross your fingers for August 1 fork / blockchain updates to go well and we can see much higher BTC prices than right now. However things don't go well, prepare for a bear market.
Absolutely, my price prediction was far off, quite bad for me :-) On the positive side, I did manage to cash out some ether while the price was near ATH.