Bitcoin Forum

When mtgox reaches $100 USD/ BTC, is this the symbolic value when everyone is going to sell? Possibly causing a crash? I've spoken to a few people now who plan on cashing out at $100 USD.

No.

USD isn't the only currency.

Yeah I'm waiting for 10,000 USD ;)

I can imagine the future... "Alright your total for university tuition this year comes to... 1.5 bitcoins." :D

I do hope so. 80€ is the magical number ;) I want to buy but I wait for a (small) crash. Actually my plan was "Ok, Bitcoin is now at 50$. That is way to high, I wait until it falls to 30$ than I buy". I wonder how long I have to wait ;)

Quite possibly a big sell signal... It makes a lot of sense.

Quite possibly a big buy signal, that also makes a lot of sense.   The amount of media attention we'll get when it happens will be huge.

Yes since the european markets are struggling alot it can be a buy sign for them for relying on bitcoin and not in the banks

I'm only selling when I can retire on my 20BTC  ;D

great username

My target until some months ago when the block size issue came to the fore had been around $100 (for a relatively small fraction of my holdings.)  I went ahead and did some at $60 and will do batch #2 somewhat North of $100 because of this.  Probably at around $120...if we get there.

I'll probably be playing out a fair percentage of my remaining BTC in a manner which depends mostly on what things look like on the development front as opposed to what the actual fiat valuation happens to be.

Nobelprice for creativity ahead ;)

If mtgoxlive.com is any indication of what people are thinking about doing when btc hits $100, there seems to be a slight sell wall at $100. However, this obviously does not include orders not listed on mtgox, or orders not listed yet.

its only $300,000 or so. not really a big deal in the grand scheme of things. my guess is at most a $2-5 very temporary drop in price if any drop at all. I think it might very well be a slight hesitation really. especially since if you look at the orders beyond $100. They are almost non existent after that.

i think selling at that point hoping for a dip would be a mistake, especially if the hesitation ends up being very short, and then accelerates onto $150+

There may be a significant dip from 100, but it seems to obvious to crash from 100. Price action has a way of not doing what most people expect. So I'm inclined to think the crash comes somewhere above 100. Also, notice that we haven't had any multi-week corrections during this run. The corrections have played out within a week or a day. But during the first crazy bull run, we had two major multi-week corrections before the final top. It doesn't have to go that way again, but I think it's likely we have at least one multi-week correction before the major top. Also, I don't expect the crash when it comes to be as bad as the 2011 crash (unless really bad news comes out).

I don't expect that much of a selloff.  What I hope to see is that more people will begin to say, "this is real": and $100 is a good psychological point for that.

I do expect buying to slow down among those who have been in bitcoin for a couple of years or so.  It will just start to look so bloody expensive to those who bought or mined at a dollar or two:  why buy more?

I think $100 is a point at which the transition from speculative investment to transactional vehicle is more important than anything.  The recent news about Expensify is heartening in that regard.

I see Bridgewalker as being especially important:  I think any bitcoiner who doesn't install and use Bridgewalker should be drummed out of the Corps.  There is no better tool to use in your/any social circle, to highlight the value of adoption.

Link?

https://www.bridgewalkerapp.com/

I think we'll slice through $100 easily, but probably not right now. I think now we have a heady combination of nervous new hands, and lots of resistance, going into a long weekend with potentially relatively low liquidity on the exchanges.

I think Mt Gox USD/BTC will try to drop today, but can't go too low as it will be held up by buying pressure for EUR/BTC and from other exchanges (they've been stronger all week). We could see a fairly significant dip down to high 70's over the next 3 days though. I imagine this will cause a little bit of panic-sell.

All will be well on Easter Monday though -- on the third day, BTC will rise again, and we'll be gunning for the $100s.

That's where my money's at anyway. I think BTC will emerge much stronger for it.

Looks like it's starting already...

Seems promising. Thanks for the link.

Wow, that is huge. I hope they come out with a desktop version too. Not that critical I guess, but would be nice.

Nice.   Unfortunately I'm back on iOS, and not in the US :D   Good idea though.

As for this:


Cydia ;)