Bitcoin Forum

The bubble has burst, but where will the correction stop? My bet is 30. What do you think?

There's a huge selloff taking place, yet the price is holding up remarkably well above $110 so far. This probably isn't a crash (but you never know!). Keep calm and... Bitcoin. :)

k so i just joimed this so i can post to a user so I gotta send 5 posts first apparantly so here goes:
I am a trader of FX markets for 2 years.
I have BROKEN EVEN trading day in and out for the past 2 years... bitcoins jumped out to me as being like GOLD (ie: scarce
but at the same time uncontrollable like pirating and also gaining major popularity. So what matters now is the major
inflows of money. Remember, its not just buyers and sellers, or more buyers than sellers, for every buyer there is always a seller
on the other end, what matters is the INFLOW of money willing to take market orders at WHATEVER the next seller is willing to sell at.

Sell offs will be very short lived now I believe
this isnt a stock...
the value will continue to increase to at least 200 in the near future (this month)
my educated guess.

Hopefully we go back to $30, we can get as many super cheap BTC the available fiat can buy, and in the process new and more reliable exchanges appear on the market

$85

127USD. 

Wait till people start coming out with derivative BTC financial instruments. Then it will get interesting. The problem is that no pair trading is available yet like all other currencies. You can't hedge.

hopefully back to a new normal. this exponential growth cant last forever

Nope -- small correction and then upwards -- watch what happens in Cypress !

The real question is: "should I take profits?"

It looks like the price is bouncing back from just below $120. I think there's a reasonable chance that it will move down to below $100 in the near-term, but it's not a certainty by any means. Ultimately, I see the long term (years) value of Bitcoin being $1k+ and I don't think the risk of liquidating some of my position now to hopefully get a discount in the near future is worth the chance that I'll end up missing out on that large growth.

Exchanging real money (BTC) for play money (fiat) is never a profit in my book.

ITT someone hoping (praying) he will be able to buy at $30.  Not going to happen.  The exchange rate may fall more, hell it might fall to below $100, but $30 that is just the stuff dreams are made of.

A man can dream

yeah we are already returning to normal

Yes, I think we've topped out at about $130. I'm guessing it will plummet once all the speculators pack up and move on to their next tulip craze.

Doubt it but who knows...

Think you have a perfect storm effecting the price...

simple supply and demand will drive it..

1) supply is limited by increased difficulty in mining..
2) worldwide economic issues
3) acceptance by the more general public to use bitcoin for transactional payments

So long as that continues I think it'll continue to go up but speed may slow..

We've leveled out now.

$80

Watch, it could hit $150 tonight when a bunch of new money clears the bank and enters the market. It has happened twice a day the past few weeks.

I don't see it going below 90 again for a long time to be honest, if ever.  The small bubbles that I have seen have corrected themselves after ~20% spikes in the positive or negative direction.  We shall see though, $30 would provide a massive buying opportunity, and to be honest, with a Mt Gox queue of over 9000 and rising, I don't see demand falling significantly below supply.

Minor bubble, I always thought it would drop back down to 30 mark... But I don't think it'll drop below 50-75 after a decent "crash"

57 probably

seems unlikely to go that low for a few weeks.  the amount of still to be verified accounts to  MTGOX is still large if you believe the reports.  All this new money coming in WOW.  I wish it would cool a little.  Stable market prices would allow more business models to evolve.

Really? Price right now is 132  ::)

I was thinking the same thing...!

I went to get verified back on Monday...just logged in and states that I am 7,060th in cue.  ::)

Where can i buy bitcoins at 30 or 50$????

No more like 150$ today :)

It will never get down below 100$ from now.

With the national news coverage Bitcoins got yesterday for hitting $147 on Mt.Gox, there's going to be a ton of new influence over the coming week... people wanting to get into the market with huge sums of money. It will just take 5-7 days for everything to clear.

I wouldn't be surprised if it hits $150 this weekend.

If you step back and look at the past week's activity, the direction doesn't seem down.

http://we.lovebitco.in/img/mtgox4-1.png

ALL OF THE GAINS WE MADE IN THE LAST 36 HOURS HAVE BEEN LOST, GET OUT WHILE YOU CAN!!

And what evidence do you have to back this up?

Heading to $270 in the next few days :)

I was hoping the all-caps would ensure no one missed the sarcasm....

Lol! If only written words could make sounds...

The trading actions I'll be taking in the near future:

-12 ounce curls, using my favorite beer, paid for fully by recent bitcoin rally.
-music appreciation, in the form of the Bitcoin Rally Song (https://bitcointalk.org/index.php?topic=168163.0 (https://bitcointalk.org/index.php?topic=168163.0).)

The one I will most certainly NOT be taking:

-pressing the Sell button.

IMHO, with the euro crisis going on, the current 1.5 billion market cap of bitcoin is going to look laughably small, very soon.

I predict we hit $270- $300 on April 15th.

https://bitcointalk.org/index.php?topic=167611.0

Can we use a different date?  I don't like that one.

Next rally on Mon-Tues of next week will push us to $200. I am selling half my BTC at $195 and will be buying back in at $165 the same day :)

Lol! That just dawned on me! Haha... it is where the data points to... its almost like BTC is flipping the IRS the bird!

Can we use a different date?  I don't like that one.
[/quote]
I guess, we could set a deal on Apr 13th. Have a nice next weekend :)

According to the 90 and 180 day trends the price should be more like 30-40. My guess is that it will eventually come back down once the current hype stops(if it stops).
http://bitcoincharts.com/charts/chart.png?width=940.3333339999999&m=mtgoxUSD&SubmitButton=Draw&r=180&i=&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=SMA&m1=90&a2=SMA&m2=180&x=0&i1=&i2=&i3=&i4=&v=1&cv=0&ps=0&l=1&p=0&

You're ejaculating prematurely. Hold on to your coins and release them only when your entire body is gripped by spasmodic waves of euphoria.

hope too we'll see <50$

It is a 2-sided issue. As the value of bitcoins goes up, the profitability of mining also increases and we see more coins in the market

additionally, bitcoins are becoming evermore permenant and recognised. Thuis bubble has not been reported by most of the news sources i watch (ie local, CNN, the globe&mail, etc). A report about its new value could cause far more investors and drive it well past $250 in the short term.

I had 0.323BTc since when it was only $20 a few months ago. today i loaded up 2 more coins at slightly above market price in order to truly have a horse in this race. I can see us  flying upwards further, hitting resistance 9lets pretend at $200, selling down to $150 or less as a lower resistance, then running at it again to get to $250 within april

The network self adjusts.  In the very short term a spike in hashing power could marginally increase the rate of supply but within 2016 blocks difficulty will adjust to keep the new generation relatively constant at 3,600 BTC per day. 

I do not think that word means what you think it means.

the market is definitely stabilizing
i dunno about 200+ but i'm pretty sure it will solidify at 150 by next week

1 BTC = 142 $ now.

Elaborate, with diagrams, please.

looks like i was right.. 200....
big wall at 200, but we will surpass it.
it wont go down much.... too many eager new INFLOWers joining mtgox with only one thing on their mind:
getting a piece of this action,
man, i gotta get out of this newbie stat so i can post...
goddamn