Bitcoin Forum

if we get bored with it (fuck, i'm tired of $46-47!), does it become the 'psychological normal' and ripe for a raise in some weeks or months?

No. It is the goal of the manipulators to make money.

Come now, that wasn't hard was it?

I'm bored of it too....

But it's not all bad, last time we touched 47-48, all the bears shit themselves.

I think you're right... this will be the new launch-pad. If there was going to be a big sell-off, it would already have happened.

Pump and dump is the main tool of the manipulator in this shallow market. They must be taking time out

Look on the bright side: stable price is good for real business. No merchant is going to adopt bitcoin if the price is flying about.

at the exciting rise last week you keep thinking itll keep going. but you have to stop and realize how amazing it is the price is stable at this level. 

This is acting like a real market. The mining reward goes down. Several decent sized (but not gigantic) vendors start accepting bitcoin, Argentina, if not Iran, starts using bitcoin as a black market alternative to dollar bills and cigarettes.

Bitcoin is less available and simultaneously more useful. So the exchange rate to fiat triples.

With those events factored in, the Bitcoin/fiat exchange rate should stabilize until more reasons to use Bitcoin pop up.

Better in the long run for it to stabilize around the mid 40s for a couple of weeks.  We've seen quite a bit of action in the last month, with adoptions, press, glitch, etc.  So a nice calm would be nice and build the confidence we need for Bitcoin to move forward.

I like the stable price, though a little bored as a speculator and market maker. The market goes in its own pace and tempo. imho, the total amount of bitcoins used by merchants can be seen during such periods.

Just wait until the Coinlab+Mt. Gox merger is complete....

hello wealthy US investors  ;)

Everyone who trades BTC for fiat money is a manipulating the value of it!

I was thinking about this the other day as well. I wonder how many speculators have been watching the near daily rise in price and holding off on their cash out (who would cash out if tomorrow it'll go up another dollar or two?). If the price does settle for a week or two, I wonder how many will decide, "OK, that was fun, I'll take my winnings now." The opportunity cost of leaving a rising bubble too early is real, so maybe they've been sticking around.

I personally don't think this is a bubble, and I like the arguments that say this currency can and should go much higher in value. That said, no one really knows.

Then again, you have all the Mt Gox accounts waiting to clear (http://www.reddit.com/r/Bitcoin/comments/1a2dzz/just_submitted_mtgox_verification_position_3840/) (probably new investors), so there could be new blood coming in soon to keep the price up.

I wouldn't be at all shocked if this calm before the storm was engineered from the MtGox/Coinlab camp, just to give the appearance of stability for investors to jump in after the deal comes through.

This is correct, but the manipulation is small compared to the big walls.

It only happens, because many people are willing to buy and sell in exchange for US dollars (or some other currency, but mostly USD).

^ +1 ^ for both of the above posts.

The fork that happened the other day was probably a good thing as it not only reminded developers that there are still a few issues that need to be taken care in future updates as Bitcoin evolves but also slowed down the run away price increase which was well on its way to spiking to high to fast which would have probably ended up crashing down pretty hard. Now that it has stabilized in the mid 40's it has a better chance of building a could base before it moves up higher.

just think back to september-december of last year, price seemed "boring" around $13...i am thankful for this stability so it gives me more time to put all of my fiat earnings in BTC/LTC before the next jump! 

Y'all are spoiled. We went sideways for 6 months at start of 2012.

I don't know who decided to set up a large sell wall. Apparently there are no individuals that feel it is worth taking down. It has the effect of forcing miners to sell below the wall. The same person may be buying up some of those coins to add to the wall. They may be selling off slowly to recoup their buying spree, but if someone else doesn't jump in, then eventually the wall will crash down and drop the price. I don't mean to be bearish, but there doesn't seem to be much market exuberance over these extraordinary technological developments.

No, they're just taking my advice. :P

I've always been a massive Bitcoin bull, but if the standard for being a bull is now to expect greater than exponential growth, I guess that makes me a bear, what with me only expecting a straight exponential rise. We rose a little faster than that for a few days, now we may have to "correct" back to "merely" exponential growth. That puts us at $50 next week or so, and $100 in about six weeks. Is that too slow for y'all?

 :D ;)

Are we there yet?

Are we there yet?

Are we there yet?

(emphasis mine)

No, the price tripling in a couple of months is nothing... ;D

Currently, the markets have (surprisingly?) been even more exuberant about litecoin, perhaps because of the opening of Atlantis. It's always nice to have chickens in two (or more) baskets.

46 is a new 15. :)
Bullish consolidation before breaking the wall and 50>100 rally.

We are waiting for news.  The long flat lines are often due to no good news.  Lately, there have been 4~5 good news in a row, that drove the price up.  Now it's all waiting.  And it's the week-end, everything is pretty stopped news-wise.

I think that when BFL confirm they start shipping ASIC though, people will anticipate difficulty rise.  And, remember when Avalon was confirmed working, they had what?  1 or 2 system?  Now, when the media everywhere take on the news that a few people have confirmed working BFL setup, and dozens/hundreds are expected to have the same setup in the coming days, then just watch it!  Should be pretty soon now...  I would say that if BFL start shipping, then expect difficulty to raise to 100M+ in a matter of weeks.  Their latest status on their forum say that their first batch of ASIC are fully packaged, being tested on proto test rig.  There are about to make boards pretty soon.  After that, by May, I would expect difficulty to go easily 500M+

Yes, that looks impressive, but ASIC are impressive devices.  When they come in mass, it will be like when GPU mining came in mass.  Only difference now is that, as opposed to GPU rising age, a LOT more people are in Bitcoins now.  And a LOT more people will switch to ASIC (compared to when people jumped from CPU->GPU).  So the rise in difficulty WILL be much sharper.

I think that not only Bitcoins will raise to 100$, it may even hit easily much higher in the coming months.

Want to invest?  I would have said that the best time was a year ago...  When we were at 8$.  However, now, with ASIC coming, I say the best time is NOW!!!  :)

Once the first person receives their BFL shipment the price will continue its rise to the hundreds.