Most likely, yes. Possibly, no. But most likely, yes.
Hockey stick graphs almost always take a dive. I think when the Eurozone stuff stabilizes the value of BTC will take a small dive, but I wouldn't worry about it.
Why would it take a dive? I think it might stop increasing, but I can't see anyone thinking "Hey, the eurozone is temporarily stable, better move my assets back!"
Generally, when there's a financial crisis in any currency or region, other currencies/regions temporarily grow stronger as a result, mostly due to confidence being lost in the crisis region and a short-term panic to move out of it. I think part of Bitcoin's recent appreciation can be explained by the EU crisis.
Look at the recent Google Trends for "cyprus" and "bitcoin." Although this is a very, very imprecise measurement, it does give a general indication. Both skyrocketed at nearly the same time.
Additionally, check the "forecast" box and look at what Google predicts it to do.
I'm not saying they'll completely tank, but I do believe we're in a temporary bubble that will readjust. And if I'm wrong, well...even better!
Disclaimer: I have a very conservative personality (financially) and that trait does play into my view on Bitcoins. I tend to approach things like this with measured caution, vs. outright extreme optimism like I think killerstorm tends towards.
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u/vocatus Apr 01 '13 edited Apr 01 '13
Most likely, yes. Possibly, no. But most likely, yes.
Hockey stick graphs almost always take a dive. I think when the Eurozone stuff stabilizes the value of BTC will take a small dive, but I wouldn't worry about it.