"It could reverse, the market could crash, or it could increase at exactly the rate I previously predicted- it's beyond my powers to predict fully."
Amazingly, it seems as though my post from 1 week ago might be right on the money. After hitting a high at the $30+ mark, the BTC seemingly crashed Thursday night through Friday, and is now at $22.00. Incredibly, this is right around my predicted value:
On May 27th, 1 week ago, 1 BTC was worth $8.65. Today 1 BTC is worth $13.80. With inflation, your money buys less now than it did in the past. With the BTC economy, we see the opposite- BTC today will buy more than it did in the past. This is deflation.
62% growth in one week leads to some absurd numbers in a relatively short time frame:
6/10- $22.35 (1 week)
The day isn't over yet, but wouldn't it be interesting if it did end with 1 BTC = $22.35?
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