Bitcoin is the future. But it’s also under attack. As the currency prices higher and higher eclipsing even an ounce of gold per bitcoin it becomes lucrative for outsiders to try an attack or a pump and dump scheme. This can cause instability or another crash in the currency. But fear not, because growth will continue and as the market size grows and grows it will get harder and harder to manipulate.
Meanwhile LiteCoin which sells for only 40 dollars a coin, is protected by it’s big brother since it hasn’t quite caught the attention of the evil doers and central banks who might do something nefarious like print 1 trillion dollars out of thin air and gulp down a market.
Investment wise, Bitcoin will be a good play to buy into monthly, but forget bitcoin mining as that’s moved into the stratosphere as custom machines – asics and fpga – cost in the tens of thousands in order to make a profit.
Mainstream traders should buy Bitcoin on the collapses and anytime it returns to a 400 dollar level. It will only rebound higher. It’s moving in a staggered rise and the only direction is up.