Bitcoin, for the second time in 2017, has ventured above the $1000 mark hitting as high as $1068.11 over the last few days.
There's a few differences this time than there were a month ago. First of all there were no giant leaps in market rate and secondly, allot of profit taking took place back in January.
This may point to stability and we could be on the verge of a post $1000 market for 2017.
The Shrinking BubbleMore likely than not, we'll see under $1000 again in 2017, but it's not beyond the realm of possibility that 2017 may see market rates above $1000 for a good portion of the year.
At the beginning of 2017 it appeared as if there was about a $250 "bubble", meaning that about $250 of the nearly $1000 market rate could have been "fluff" or pumped value trying to hit that magic mark.
Events of late indicate that bubble may be less now, closer to $100 or less. With a market rate of around $1050, this lends to a possible dip below $1000 before it's all over with but as that bubble diminishes it could result is less of a chance to see below $1000 again for quite some time, if ever.
BitFeelingsLet face it, back in 2013, we all knew it was too good to be true. We knew it was a bubble. We sold as quickly as we could and the wall came tumbling down met with little surprise.
Not so much in 2017, it doesn't feel inflated in fact $900 feels like a steal if we could get it. There's allot of industry underneath bitcoin now and allot of usage beyond just sending money. So if we see rates below $1000 again it would certainly be the time to jump on it because one thing is for certain, bitcoin is far from dead.
Can it crash? Sure, but is this another bitcoin bubble? No, probably not.
Get on it!