Bitcoin Forum

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The late 2013 surge was caused by a bot called Willy.

https://willyreport.wordpress.com

good to see people that bring us news that never have been revealed to anyone anytime in the past, anywhere

That's interesting, I thought it was due to a bot called CHINA

why are you guys so in a rush. no need to think about $1200 when we not even manage to stay above $300 that just doesn't make sense. once we're heading towards $700 then we can talk about $1000

Stop talking 1200$ when we're heading to 100$.


Yes, we would never see 1200$ without Chinese.

It is possible to identify the short-term tops and bottoms but knowing exactly where the price will or will never go in the next couple of years is absolutely impossible.

So there is no point in this topic and the price going over thousand USD again at some point in time is not unlikely.

Some people are so shell shocked that their minds don't work well anymore. Pricing is all about demand and everyone and their brother has a bot these days if the want one.

Jesus.

Why didn't anyone tell me this before? I feel like everything's been kicked away beneath me. I don't know who to turn to.

Hold me.

xD sure, this is just pure speculation but we might not reach a price of 1xxx for a whole year to say the least. Current order books show strong resistence at current and lower levels but we may have to visit sub 200 before we head to the moon :P but again 10 years is a bit too much i expect 5 figures by then !

Threads like this always get me.  As if $1200 seemed possible at the beginning of 2013.  It seemed impossible that it would see $266 after it had trouble maintaining $100 after the early 2013 implosion.

If anything, BTC has shown that near anything is possible.

more like $120 is possible

OP needs to changes its information channels he is seriously lagging

will we see 1.2k again, yes
will it be in less than 10years, yes

willy bot can arguably be a chinese bot, notice how the pump of willy coincided with the chinese that entered the bitcoin market


120 in 10 years, that's heavily discutible, no way it will be that low, otherwise it mean that bitcoin was replaced/dead

It was also caused by crazed demand and greed. We may see $1200 again much sooner than you think.

If you browse through the forum then you will see people saying $10K within a few years, etc. Which is pure nonsense.

If you just be, and think realistically, then it would be a miracle if we see and manage to stay above $1000 within 3 years.

Which you also see when browsing the forum, that ever reaching $2, $30, $60 is impossible, etc. Which is pure nonsense too. LOL

Can you even imagine the difficulty and demand for miners with a $10k coin?

never ever

It was a Japanese bot. :D
Jokes aside it was China. They had the biggest volume since their exchanges started pumping.
Same with the big fall in early 2014 it was caused by Chinese banks refusing to provide services to exchanges.

OP needs to smoke more weed and educate himself better, seems like he's failing ATM tho

If Willy was responsible for the latest surge then Billy the bot will bring us to 10K  ::)

It's the same as it has always been

Within 10 years it will either be:

1. A fuck-tonne
2. Nothing.

Within the next ten years I expect a similar, binary, outcome.

All or nothing.

bitcoin will be valuable only if status quo changes for whatever reason.

example-cash in the bank is just another bank liability that has to be reconciled with other positions.
Deposits are now a part of banks capital structure.
http://www.huffingtonpost.com/ellen-brown/new-g20-bailin-rules-now-_b_6244394.html

On the other hand, bitcoin has no liabilities (at least for now), hence it could become valuable if someone would prefer such assets.

So the global fiat money system is fine and we can all go back to bed? $10 Billion is nothing as far as global currency is concerned. The last bubble overshot, and the next one will too, but overall we're going up until a universally better crypto comes along or we hit the market cap of a medium sized country.

I prefer such assets :)

Just watch what happens to this sub-forum once the rally finally gets started.
"Bitcoin going to $100,000 each!!!" threads will be all over the place.  :)

what about the price will remain the same, but the adoption will be huge, and we reach mainstream status anyway?

price will go up as there will be high demand for btc. you need to buy it first to spend it. and let's say 50% of the people will hold a few coins as investment.

No need to head that high, considering the current market price. Just take it step by step or in this case, by 100 would be so much better. But too much price surge will hang the volatile label on BTC for good.

Does not compute

Another investigation on Willy and price manipulation...  http://blog.wizsec.jp/2015/02/mtgox-investigation-release.html

10 years to collect cheap ass BTC before the next rally goes x10 ATH, seems like a good plan to me and anyone that has a good understanding of what is going on.

Good thinking...  So it's in our best interest for BTC to go to double digits then.

Laugh out loud, you're dreaming if you think there's a shot for double digits again. The mid 1xx ranges will see a fury of buying like never before seen, if that level even happens.

I don't really care. If you are aware of were the world is going, you know that in the end Bitcoin will be recognized as something extremely revolutionizing and useful all over the world. This just started, and at the very beginnings of revolutionary technology the 99% don't know how to deal with it. Worrying about the price right now is mental masturbation, what matters is the technology, just like the internet was a mess at the begining, but if you aren't an idiot you could see the potential early on.

Ok, so let's fire up another bot then and go for 10k   ;D

Yup, a steady bull run is preferable to a sudden surge.
I am waiting for the halving of the block reward to serve as a catalyst.

As long as the top 1% hold 99.999% of the bitcoins in existence, we will never see $1200. When only the elites, the early adopters and whales, hold the coins, there is no utility to the coins. Just let the coins die. Bitcoin has become millionaire's toy. Even now, they are manipulating the prices, taking coins from the ignorant masses is just like taking candy from a baby.

the problem isn't only that, the problem is that there is also competition with other type of trading, like stocks/gold ecc, so many are forced to hold bitcoin while playing with those others kind of trading

it safer to hold right now even for whales(they are probably playing with little money, notice the small swings...)

On a downtrending market hedging some to fiat is not a bad decision.  If you can borrow some BTC, short it.  But like anything...  keep your losses small.

That is exactly my thought. How we are sure that there won't be any other Willy Bots in the future? AFAIK there is nothing that prevents this kind of activity.

If it were that easy to pump the value of something like that then it will happen again.  Everything moves faster in bitcoin vs traditional markets 10 years is a lifetime.

not really advisable, billi bot was managed by a hacker that has taken the control of the trading in that era, at least this is what that article say, if a rise of 10k happen because of willy 2.0 then expect even a big crash than the last one

Well even if I *do* buy most of the Willy report, we're now approaching a long-term trendline drawn without the gox-bubbles! Once again, I feel capitulation kicking in. Shorting now may be dangerous!

Maybe...  We'll see.

Also, keep in mind that we've seen Bitcoin go up 100x before Willy was active :) You have to take a step back from the timeframes outlined in the Willy report and see that there have been bubbles before our beloved bot began buying as if there's no tomorrow!

Again...  We'll see.  I'm an open mind.  But looking at the charts right now, it's still trending down.