Bitcoin has been gaining against the dollar in leaps and bounds recently. Will it hit $100 soon?
No. As we get close to the hundred mark, a lot of old-timers are going to start selling off their bitcoins for profit taking. This will cause the price to drop down (I would guess to somewhere between 60 and 80 dollars - I'd be surprised if it went down below 50 dollars). The level of trading is low, and the number of traders is low so a sudden change in trading activity such as approaching the 100 dollar milestone will have a profound effect on the price.
After a dip, people will start buying back in, so the price should bounce up back to the 90s again fairly quickly - within a few days or a week at most.
Update: this post was set to autopost on 30 March, but events got ahead of it. Looks like the 100 dollar dip happened earlier than I expected.
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