Bitcoin Forum

Heres a chart from my blog

http://afbitcoins.files.wordpress.com/2013/05/20130514-3-month-log-chart.png?w=650

It will be interesting to see what happens when the price hits this line in the near future. Will we get a bounce up in price. I think there’s a decent chance that may happen and if it does the chart will start to look rather bullish again.

If you’ve been sitting out, maybe its soon time to get back into bitcoins?

Lets talk about this when its at 125.

Since may 3rd, there is a constant growth of demand, a couple of percent every day (according to my tracking of mtgox order book).
It looks good :)

I reckon prices might be higher than $200 USD before long

:)

This chart clearly illustrates to me the trader sentiment that the April 10 bubble can be re-inflated. This sentiment should become weaker as peaks at $266, $166, $147 and now $125 remain unsurpassed.

+1

It's bull time, hang on to your knackers!

Simply the coin growing because more and more people are starting to use it isn't possibility, no?

But the bottom has gone from $50, to $79, to $98. If the bubble is over, why can't we have an uptrend or growth on a more realistic scale?

I don't see why we can't. The bubble doesn't have to be reinflated but we could see a long and slow sustainable growth pattern similar to the long slow slide downwards after the 2011 bubble only in the opposite direction this time. Most of the time bitcoin has been going through a slow appreciation or depreciation instead of the volatile times we've had during and after parabolic growth. $125 doesn't have to be broken in a couple of days, the rocket launching phase could very well be behind us now. Boring as that may be. :P

I have been seeing some rather large purchases earlier....but it is still a bear market,imo.

Very soon, it may be proven that it was never a bear market to begin with.

Famous last words?

Certainly not, I'd love it if it dropped to the 40s, lol. But if this chart, and others like it prove right, then yes, the 'bubble' may just re-inflate and we simply experienced a huge correction. I'm actually happy either way.

2 days since we have about 2.19% growth rate daily. You can do the math also. I hope we can sustain that, with minor upside and downside bubbles

In 3 days everything that everybody in this thread before me has said will be proven wrong.

Mild resistance at $80, strong resistance at $70. Once 70 is broken there will be almost no resistance down to $50.

From there comes highly volatile times, before a phase of stability for almost 3 months, after which a new bubble will begin to form.

Mid January 2014 will see the peak of the bubble at absolutely insane highs, but with a new asian crypto-coin gaining in popularity the bubble pops before February begins.

Sorry but I won't call that proof.

Aren't you the same retarded who posted this?

https://bitcointalk.org/index.php?topic=173558.msg1806423#msg1806423 (https://bitcointalk.org/index.php?topic=173558.msg1806423#msg1806423)

At least now you're not using secret messages to make your predictions. Keep us updated on your car purchases though.

Note that I said in my first post 'may be proven' and in my second "if" they prove true. So if the price eventually reaches say 280, then yes, it wasn't a bear market, and yes many of these charts were on the right track. I didn't say that if the price reaches 126 than we are 100% in the clear.

$1/day is not bad. => +$365 per year. :-) (300%)

Just asking but "new asian crypto-coin" are you talking about one of the new ones now or TBD?

Who are you, the new Nostradamus? :P Quite a bold and detailed prediction, what will you do if it doesn't come true?

While the bubble up to $266 ended in a horrific fireball of a crash, it gave Bitcoin a boat load of exposure. Some of that translated into growth. In a two month span, we had more new users to the forum, more google searches, more client downloads, coverage all over the world (plenty in China). The highs are getting lower, the lows are getting higher. We're finding some balance and things are starting to stabilize a little.

Anyone talking about $30-$40-$50 coins just wants to buy back in on the cheap. It's become wishful thinking by people on the sidelines with pockets full of fiat. I'm sorry they missed the boat, but you can always just go buy a ticket. It's a little more expensive then when you sold, but that's how it works sometimes.  ;D

He will make an equally bold and detailed prediction tomorrow of course!  Wait until Saturday and see :D

No, he's Coinstradamus. Maybe we can get a bounty together and we can pay him to start encoding all his posts again. Clearly his forecasting skills are too good to just release them to the public like this. We'd be much better off if he just encoded everything. Come back in 10 years and decode everything, then we'll all fall to the ground and worship at Coinstradamus' feet.

I tend to agree with namelessone that its still unproven if this was the peak of the bull run or in fact just a huge correction. The lines of support and resistance have been swinging from a bearish outlook, to more and more bullish recently though.

I like to think I'm quite neutral at the moment, if price drops i'll buy lots of cheap bitcoins, if it starts rising my current bitcoins will be going up in value but i won't be able to buy as many new ones.

Yokosan thinks ChinaCoin will surpass Bitcoin in January 2014. Big resounding LOL.

Look at silly Yokosan trying to talk down the price with his bold but impossibly detailed predictions.

Yokosan, do us a favor and encrypt your posts so I don't have to read them unless I really want to ;D ;D ;D

Also say things like "If I don't release the text within in 7 days I will quit the forum forever" and then don't release the text or quit the forum forever. This way we can laugh at you even more. 

Ouch., a bubble that re-inflates is just another bubble, not a correction. Or, if after the correction the price goes back to all-high then there was no bubble in the first place.

Well, in my opinion the price was way too high at the bubble peak for that time. There was not enough to justify it and to carry the momentum.
I think it was related to the perception that BFL would soon deliver.
In any case, i think that the price will go back to $200+ but when that will happen will depend on an interaction between people frothing for asics and actual deliveries.

I meant that the last month would have been the correction. My quotations around 'bubble' were there as a kind of 'yeah everyone seems to call this a bubble' thing. It would be glorious if time proves no bubble happened at all.

Yeah and MAYBE i did not read your posts too well.
Did you ever stop to think about that? Huh?  :P

last 2 days seem to have a pretty consistent tight moving bottom and top channel.  Looks like the 119-122 resistance is slowing the uptrend down and been flattening out for the last few hours...  If it breaks could continue for slower but positive trend up...  Though it could bounce too.

This uptrend seems a little steeper then the run up before the bubble so it seems consistent.  Are we starting to see some stability in the market... who knows.

Indeed I did, hehe, but I was simply clarifying.  :P

3...2...1... POP!

LOL! $40 please!

++1

Premise: Price falls 3-4% on essentially negligible volume
Conclusion: it's clearly the end of the world

Logic grade: full retard

Sorry, no. It's bear time. We're going down, dont sell too quickly.

What we saw was manipulation and the insanity of more mtgox lag....

FEELS SO GOOD MAN!

http://cdn.memegenerator.net/instances/400x/15835194.jpg

Sorry to tell you but today wasn't even close to a pop... More like a single or group dumped their coins.  Wasn't even a 10% drop and already more then 50% of the drop is recovered.

A few days ago there was mass buy where it went to 122.  I would just guess, these are the same people trying to pump and dump since the 120 resistance was holding.  Add mtgox lag and you got yourself a mini correction/crash.

Could also be the dwolla or ripple/google news...  Though I think for there to be movement like that caused by fundamentals, it would have to be bigger like US bans btc or something.

Then again BTC isn't really that big of a market, 1 ol'timer could have decided to get out with the dwolla news.

Pop! ..... and bounce ?

I've updated that line on this log chart here

http://s22.postimg.org/s5sszh29d/20130514_log_chart.png

That looks very much like a validation of the line to me!

Up up and away...

That looks like a nice shakeout candle to me there. Up we go! ;D

I don't think anything popped... This was just a large sell off by 1 or more organized people/groups.  Went down less then 10% then in less then an hour recovered 50% of the loss.

That moving support line is looking pretty good though:)

You're right. It did look a bit like a pop when i first glanced at it on the 10 day chart though !   :o

NO ITS BEAR HOUR!!!

Ooops forgot that, sorry  :-X

Ok one hour playtime for you bears, you deserve to have a little fun now and then too. But after that it's back in your cage again, no more tears. :P

Lets get it down... then buy back... as bulls and then sell as bears!

Its all good

Heres an update to that support line on a 2 month log chart

http://s4.postimg.org/v4rojiefx/20130515_2_month_log_chart.png

Maybe the bears will have the last laugh, its close.

Here is my prediction for next weeks trading on Mt.Gox

http://cdn.arstechnica.net/04-14-2011/seized.png

As I said in the bear thread:

i didnt know the US govt. had jurisdiction in Japan.

They have jurisdiction over the .com domain names.

And the 7th fleet to prove their point if Japan finds anything to say against it ;D

Wait, you're proud of the fact that your government can censor the Internet?

I'm not.

Besides, they can't really censor it... just certain TLDs.  It's pretty easy to get a new domain that isn't in their jurisdiction.

The weak response to touching that support has me a bit concerned I have to admit, I was hoping for a stronger reaction than that.

Lol can't see it happening though. If it did there'd be uproar. Theres a better way to deal with bitcoins if you don't like them, send in a trojan horse -> Ripples

My government can't do jack to censor the internet. It'll be the day those idiots will be able to use a smartphone without some aide acting as a go-between interface... ;D

price : 113 usd.
:D

You're quoting old analysis from before the dwolla news, nobody could have predicted that that would happen yesterday. 113 usd is more than most expected today I think, many thought we would have dipped below 100 by now. We can still go down again though, but I think the market is waiting for more news before deciding what to do next.

Hadnt heard about the Dwolla news, thanks for that.

Wonder why Dwolla chose this particular moment in the market to do this? Hmm.... Its almost like they want to push bitcoins below support and make the chart look bearish... but that would be crazy. Why would dwolla try to hurt bitcoins?

edit:

The department of Homeland Security ordered this!!! Holy shit
http://betabeat.com/2013/05/department-of-homeland-security-shuts-down-dwolla-payments-to-and-from-mt-gox/

When are the american people going to realise what has happened to their country. Their government is gone rogue.

Our government was always rogue. They have murdered countless millions of people, and no one does a thing. Attacking bitcoin? No one is going to give a shit.

Bitcoin must go up due to this Dwolla case because people will realize that it is only one safe way to keep funds not reachable by U.S. govt!

Bitcoin is not the only way to keep money safe from the US government. In fact, Gox should have begun by not incorporating in fucking Japan. They should have established their exchange on a country code top-level domain instead of .com. Then once they started printing money, they should have used it to hire competent counsel. Bunch of morons...

Truth.