As the naysayers continue their rants, I would like to say that there will be many more run ups, followed by subsequent corrections.
The process of price discovery is very complex. Even publicly traded companies, where information is widely available, go through this complex process of price discovery.
Bitcoin, as a new asset class is going to be subject to even greater volatility; We should all expect this.
Bit Coin is FAR from over...
"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees