Bitcoin Forum

Hi all,

Lets start a daily prediction and speculation thread as per Indian market.

Normally Indian markets follows foreign exchange trends as we dont have a good price discovery force and mechanism to explore here, in laymen terms we dont have enough liquid and active published source of trades and order book which can give us trends as per Indian market conditions.

But still Indian market has some specific attributes which will make predictions at least entertaining.

We have below players in market
1) LocalBitcoins
2) Unocoin
3) CoinSecure
4) BtcXIndia
5) iGot
6) 100bit.co.in
7) Zebpay

I will start with my prediction :
I think we will be in the range of 17100 to 17500 today. Monday should always go up if weekends has down trends :)


Trend : 17100 to 17500 today
Regards

gambly says 17600 to 18000 :p

17100 to 18000 ;P
FTFY

Regards

When you predict - also tell on which platform. Sometimes up to 5% diff among diff platforms - so any wild prediction will be true if it is just a number lol

In our platform, we allow to buy/sell different amounts at different rates. Hence, we have seen, many users put up small amount for higher rate, but big amount for lower rate. To be precise, an user A simultenously executes two trades...

1. 0.1 BTC @ 1700 INR

2. 1 BTC @ 16800 INR

We should also have a month-end prediction.
My prediction, INR 20K by 31-Aug. Let us see if the bull rears its head in the next 2 weeks.  ;D

Thanks for joining in. Can we make sure we use this thread as just price movement and speculation in general.



Good idea, but I will still prefer having daily trends along with it.

Good point. I will just give my predictions on Google INR BTC rates, that is essentially coinbase rates converted in INR. Want to make sure this is fun thread and not a promotion thread for our services :)

Regards

Current Google rate : 17118.44

My prediction is to remain in the same range today too.

Trend : 17100 to 17500 today

@polynesia : I believe we will end up on a slightly lower notes and expect it to reach appx 16200 to 16500 INR. But if you ask me 3 month perspective I think we are now looking for a long term bull trend after this adjustment. For next 3 months I think we should easily touch 21 to 22 k. Volatility index is stable from last 1 month around about at 2.4 to 2.7, I expect it to increase with more frequent downtrends this month and a stable uptrend in 3 month outlook.

Regards

17388 now...
The USD-INR rate seems to be having an impact here.  :)

I will admit that I didn't see the current drop coming.  ;D
Bitcoin down to under INR 15K

Dump and pump ? haha

Lowest was 152.4 ? what a pity

in last year

Oh ok ok. Did not notice it.

Almost everyone caught sleeping :P

Regards

Predicted 3 weeks before  :)

https://bitcointalk.org/index.php?topic=338427.msg12181016#msg12181016

I was also expecting downward trends that is why I mostly coins hedge already so it will not affect me. And my strategy work very well.

The pain just seems to be continuing.
When will this end?

guys is there any place where we can cashout 20 + coins and without giving identity details or anything lke that ??
i mean who dont want to be anonynous in bitcoin world ..

Try localbitcoins.

Or contact trader like me but we charge fee.

what do u mean  ?? are you a localbitcoins trader or ?
and plus what kind of fee do u charege

Expecting to touch 20k INR soon on certain platforms.

this thread is the closest it gets to post what i am posting. The last month, with the way things have been going, i have a feeling india is maturing as a market, to fix bitcoin price as a function of demand/supply rather than just following the big foreign exchanges. We are moving towards price discovery, and that speaks a lot of a more maturing market, and this is indicated by the rise of volume across all exchanges. Although the almost 1000 rupee discount on buying and 2000 rupee discount on selling compared to the foreign markets may look like a dampener, but the bigger concern is the massive spread of about 1000 rupees between buying and selling. (data using average data on bitcoinrates.in)

Any predictions for the year end?  ;D
I would be happy with INR 30K.
Too much volatility these days.  :)

+1
With more volumes the spread should decrease as well.