Bitcoin Forum

After massive growth this week, and a hefty weekend dip, do you believe we'll keep going up next week? Or is it time to consolidate or go downwards?

Down

I don't know, but I'm leaning towards the week after this coming one for the next leg higher, with this week filling out a nice base under $75. That would also be more bullish, since it would give the next leg more power.

you never know how many amateurs invited to party. Since lot of them believe bitcoin trading has nothing to do with stock trading it might be going up for a while

Yes, because

http://youtu.be/1qfSNgXvbuY

This is the central (main) television channel in Russia. Explain in simple language, the target audience - a little-educated citizens. Approximately 50 million people audience.

Could you give us (as exact as possible) a translation of what the newscaster said in english?

You didn't even need to post, we knew that already ;)

Maybe you did, but all these newcomers need to get the message.

His profile text used to say, "Single digits by April 1, 2013," too.

Down

I think we'll be bouncing off $75 one more time - and finally breaching it within three weeks.  It's a tough number.  So next week ATH?  No.

"Virtual currency Bitcoin out into the real world. Cannabis Steylor Moore may be the first company who sells real estate for Bitcoin. Virtual currency Bitcoin out into the real world. Cannabis Steylor Moore may be the first company who sells real estate for Bitcoiny. These are purely digital money, which in contrast to other payment systems, not associated with traditional financial institutions. And is not controlled by any state. Bitcoin computer specialists have come up with 5 years ago. And many active users of the Internet have got special network wallets. So Moore offers his house with mountain views and a plot of approximately 1.5 hectares per 6750 Bitcoins. However, in Canadian dollars, he also named the sum: 405,000 in U.S. dollars little less. It is interesting that recently another fan Bitcoin wanted to change 10,000 network coins for 2 pizzas, it appears, could have bought a house in Canada and still have remained"

Literally, the original, with preservation of punctuation:

"Bиpтyaльнaя вaлютa Биткoин выxoдит в peaльный миp. Кaннaбиc Cтeйлop Myp мoжeт cтaть пepвoй кoмпaниeй, ктo пpoдaвшeй нeдвижимocть зa Биткoины. Этo тaкиe чиcтo цифpoвыe дeньги, кoтopыe в oтличиe oт дpyгиx плaтeжныx cиcтeм, никaк нe cвязaны c тpaдициoнными финaнcoвыми инcтитyтaми. И нe кoнтpoллиpyюcтя ни oдним гocyдapcтвoм. Иx пpидyмaли кoмпьютepщики 5 лeт нaзaд. И мнoгиe aктивныe пoльзoвaтeли Интepнeт зaвeли cпeциaльныe ceтeвыe кoшeльки. Taк вoт Myp пpeдлaгaeт cвoй дoм c видoм нa гopы и yчacтoк пpимepнo в 1.5 гeктapa зa 6750 Биткoинoв.Bпpoчeм, в кaнaдcкиx дoллapax oн тoжe нaзвaл cyммy: 405000, в aмepикaнcкиx дoллapax нeмнoгим мeньшe. Интepecнo чтo нeдaвнo дpyгoй пoклoнник Биткoинoв xoтeл пoмeнять 10000 ceтeвыx мoнeт нa 2 пиццыв, oкaзывaeтcя, мoг бы кyпить дoм в Кaнaдe и eщe бы и ocтaлocь"

I'll be surprised if $75 isn't breached on Monday or Tuesday at the latest.

I know this can change but there's 'only' 12417 BTC in asks right now to get to $75 and wires will start clearing in Japanese banks in 8 or 9 hours time.

Thanks for the translation. Chances are the short quoted item above should be "Canada's Taylor More" though.

http://business.financialpost.com/2013/03/21/canadian-bitcoin-house-for-sale/

Yes, of course, I had heard wrong.  :D Because of this, my mistake of the Russian censors deleted the comments and number of views, sorry.  :(

+1 $75 this week seems too easy. Think we'll be ready around the time we start seeing posts asking, "why is price so stable?" If we do breach $75 this week, I'm more inclined to think we'll see a pretty major dip, possibly even taking us back below $75, before $100 is taken out. 

Thanks for the translation. That particular piece of news paints bitcoin as more of an oddity than the next big thing in global currency so my guess is that there wont be much in the way of getting more people onboard

If the data from this poll mean anything, it's that when the $/BTC begins to crash, there will be many optimists to buy it all back.

At first, probably yes. However, sentiment can turn from bullish to bearish pretty fast from what I've seen :)

Nobody was actually bearish during the crash, as in, "This will end the rally."  People sold to buy back lower, and they clearly did, because we're at $70 now.

I believe strongly that one should be bullish this week.It would simply because of the 20% tax on high yield deposits in Cyprus and a good majority of those are from Russian Oligarchs.I believe the Cyprus Government is currently limiting withdrawals so how do you suppose they would get over that ? ::)

They take the hit, they don't have much choice, grumble loudly, and then make sure that they never, ever let any money anywhere near a Cyprus bank again. The banks will then collapse and anyone who did not get their money out at the first chance will then lose what was left.

Many will decide never to let their major capital within smelling distance of any bank again ever. They will use shares, gold, and yes, of course, Bitcoin.  It seems to me that many governments here have fundamentally misunderstood the deal between a bank customer and the bank, and I for one will never put significant money in banks again.

I think all involved (and I am not) will feel this very strongly.

I think that there may be revenge by the Russian. (per Cyprus) They (individual oligarchs) can buy a large amount Bitcoin and issue an official report about it in the news. They accuse the EU in the Cyprus problem. The hostages were their money. (The existing news release - a frightening measure IMHO, a warning). So it will be a blow to the heart of the enemy though.  :P

Yes

because of this,

https://bitcointalk.org/index.php?topic=157453.0


Also intesting,

http://www.reddit.com/r/Bitcoin/comments/1ax104/just_checked_the_queue_there_are_5500_accounts/

Interesting stuff,When I was listening to the news about the Cyprus debacle it mentioned that there were ~10,000 accounts over 100,000 that could possibly be taxed.The most interesting thing about the news report is that it was mentioned 1/2 of those are believed to be wealthy Russian individuals. 8)

There were others that simply got liquidated.

I'm with you on this. I think Monday is going to see $76 per coin.

You are pretty much by yourself proudhon right now. But that's okay you can buy back when we fall to $150 from $200.  :D

Yep, the Russians are there with a lot of billions that's a fact...
Cyprus gov. went for help in Russia but they refused help.
I think next week will be one of the intresting times we will see this year and i feel sorry for the "normal" hard working people of Cyprus who put there faith in there (EU) government..

Perhaps such a large number of accounts for approval is owned by the people who want to cash out fiat of the  Gox. This bearish news. "Sell ​​on the news."