considered to be a safe investment, something that's always rising in price and a good hedge against inflation. While that might be mostly true investor speculation and manipulation can and has driven the real world price of gold too high, too quickly before.
It happened in the real world gold market in 1980. The price of gold went way up very quickly and then crashed hard.
In January 1980 gold hit a record 850 US dollars an ounce. After reaching those dizzy heights it then plummeted down and remained steady in the 300-400 dollar range for some years before starting to climb again to new levels. source gold priceThe way I see it Eve's PLEX market behaves just about exactly like the real world gold market only more exaggerated. I believe the price of PLEX right now is just like the price of gold in the 1980s. The price of PLEX is rising too high, too quickly and will eventually crash too.
In MMO markets when the price of something crashes investors often panic, start dumping massive stockpiles and make the crash much worse before it starts getting better again... Usually not until after the really rich (no I'm not that rich) decide the price is low enough for them to start buying it all out.
Exactly when or at what price point a PLEX price crash might happen is difficult to predict though it'll almost certainly be very bad for investors with a lot of their net worth tied up in PLEX.
There's usually a limit where people decide the price is too high and the majority just stop buying. Such limits are often very close to (usually just under) a nice round number like 100 or 1000. For PLEX I figure the limit is 1 billion ISK per PLEX. My guess is most players will start severely curtailing their PLEX purchases when the price is somewhere in the 900-950 million ISK range.
Personally, I've already started cutting back on my PLEX purchases. I'm not at the point of shutting down accounts and I probably never will get there, but I've already severely cut back on purchasing PLEX for dual training purposes (since the price hit 700 million ISK).
Post inspired by Croda's What is the purpose of PLEX