Bitcoin Forum

The top is in on this run-up. Time to unload and take profits. ;)

ftfy

Way to post 13 minutes after the initial top. You are so wise.  ;)

we've seen a decent upwards movement of the price today. i'm sure there will be some traders taking profit very soon. it's notmal.

we're going to test 300 within the next week, but not without a retrace or two along the way i think.

Lol no. It's just another dead cat. You should know by now... within a week we'll  be back down to low 200s

So, are you really the mythical one? The Fontas of great, who bends Litecoin to his will?

I'll be sure to take my profits somewhere between 265 or 270, given that it will be a $60 profit for each bitcoin I bought. For the course of a year with these kind of small rises, it's been very profitable for those who haven't been to greedy to think that it will somehow do a great leap and a similar rise like Nov. 2013. Wake up, people, all of those are things in the past. I don't want to be a pessimist or anything, but it is the reality (though some other things could happen along the way, bitcoin markets are somewhat different from other markets out there.)

I'm not sure the modest cycle of pump followed by inevitable dump is really very sustainable in the long run. There must be an army of holders vs a relatively small pool of active traders. Once the holders are royally sick of the same old shit the trading types may find themselves dumped into oblivion.

Lots of folks are hoping for a far future. If it looks like it'll never arrive the market party may grind to a halt.

^this.  BTC whales need to get past their greed dumping Bitcoin into oblivion and cockteasing the whole community with these mini pumps, the time is now to start recovery again.

It has already hit my north target for this month, and a little bit more. I'm expecting a fall over the next month or so, but I'll still be hodling because I don't know of an exchange I can trust to hold FIAT for me (any opinions on that appreciated - I'm not US/EU based which restricts things a little).

I'll watch it fall if it chooses, because I expect much better things by the end of the year, so rather than being Gox'd, I'd rather keep in cold storage for now and wait for larger northward moves where the only reason I would trade out is in anticipation of collecting a few more coins at a better price after that.  If it does get a bit toppy then I'll consider moving into physical gold and wait for a new buy in opportunity back into BTC.

I perfectly predicted this weeks ago. I'm the self proclaimed greatest bitcoin analyst there is.

I am a protégé of the great one. He was my teacher. May the blockchain smile upon him.

(Disclaimer: I get paid for my sig by an options exchange)

Keep your BTC and buy "vanilla call options" - if the BTC price goes down, you profit. If the price doesn't go down you'll only have lost what you paid for the call options.

As an example, say you had 5 BTC that you'd prefer to keep, rather than sell and trust your fiat to an exchange. BTC/USD is $265 right now. Contract size at Coinut is 0.01, so you'd need 500 call options. Call options with a "strike price" of 265 (i.e. they pay out when BTC is below $265) cost ~0.0012 - you'd pay 0.6 BTC and if the BTC price fell to $255 you'd make $50 - in BTC. Apart from the 0.6 BTC you pay for the options, the remainder stays safe in your wallet.

You can save money but lose potential profit by buying calls with a lower strike price.

This top is not the same halving is near and many people  wanna buy its moon time

At 262 now, well when it drop to 260 I call it quits. :D Profit time!

Come on guys, What has happened to some positivity in this place? I know that this long depression is coming to us all, but we have broken only $260.

You remember the time when we were over $1,000? Well Bitcoin is capable of this again, trust me. All we need is believe a bit more in it!

A tiny retrace means that we have passed the top already?

I think we will see some higher points first, probably atleast 280 before the end of next week.

The shape is ofcourse forming a top, but there might be a higher top next to it!

I agree with you, the long downfall caused many people to lose faith in higher numbers and support. It has been a while since we had bad news , which
was the main reason why bitcoin didn't continue it's ascend. 1000$ is not a matter of if , but when
OP may be right about this being the top, but for the week, most certanly not for this month or year.

I do think the double top is likely, but I think the top top is in 80%+ chance, some small chance of a double top that exceeds the first top.

We've already had a double top this year... second slightly higher than the last. Mainly why I think we will push through eventually.

This will be fun to quote later.

Well...

it is still early to cash out even for a day trader who looks for short term investment with small profits. price is still going up and the weekend has not yet arrived.

i want to be in the quote too, just in case.

He is doing these type of posts every time bitcoin is making a run.

Ofcourse it will go down a bit after a while due to correction, but usually he is quite wrong about the end result (he also predicted sub 200 again).

It's already higher today than it was yesterday. He predicted a small chance of a double top at best, but it's gone up too much today to call it a double top. Nobody can predict what it's going to do with any degree of certainty. There are professional trading sites full of predictions that are frequently wrong.

I think approaching 300 is a good exit. It may surge past for a little while but a lot of people, myself included, are still waiting for $100 before we are confident of a bottom forming.

$100? Some serious shit would have to go down for that to happen. Not very likely.

Are you serious? Waiting for $100 is a waste of time I believe.We've seen that $200-$220 was/is a pretty solid bottom.We had been below that but bounced back pretty fast.

We'll see. I don't think the last leg down is in yet.

If there is no fundamental problem of bitcoin, the price will be above $100. If bitcoin gets used more, the price will be higher.

300$ its better than 200$ but its taht soo important? i mean i dont quit BTC even if was at 20$

$100 qualifies as more than just a leg down. That's going to put the willies up an awful lot of people if it did happen.

Just weekend effect. People won't load money into exchanges and people won't trade too much, so small flutuactions are possible

Tomorrow the up trend will be retaken

i dont feel like 270 is the top, i feel like bitcoins going to hit around 330 and stay there for around a month and around the halfing next year itll be around 400-500

it's the top for now. if we can manage to stay above $260 for a week, then we might see the price make another attempt to break through the $280.

I highly doubt the price staying at or around $300, even if we do see it. $300 has huge psychological implications, and its a number that plenty of people are looking to cash out at. (See bear wall). It's a hard number to break through and stay above.

However, increases seem to be nullifying, I'm not sure if we will even see the price flirt with the $300 line in this ride.

price is important yes, it what will drive many more people to join in, low price make everyone not investing or using it because they think it will die soon, it's depressing...

The market capitalization is important. If it is too small, big money cannot come in and price is volatile.

Volatility makes Bitcoin a great investment. Big money can come in whenever it wants, they simply buy up slowly to not leave any marks behind. Or they can enter when there is a coin auction to buy up coins at one price.

Yes but not too much volatility however. We don't need craziness of the price like we had on the past, to lose sometimes even $200 a day. This is what our opponents are using against us, saying that Bitcoin is a speculation tool run by speculators.

Also people are afraid of this volatility. Some people are literally staying away from investing since Bitcoin's price was acting crazy in the past.

Yes, this is where most traders profit from: volatility of the price of a certain commodity. I also have been doing this in the past year and because of price volatility of bitcoin, I am no longer affected of small crashes/rises but instead I focus on one term which could yield me some nice profit if I played the market correctly. Simple concept that others find hard to follow: buy low, sell high. ;)