Bitcoin Forum

Its been a rough month for cryptocurrency, although I'm by no means a Bitcoin "doomsayer" I think the markets are only going to get rougher into late December, check out our monthly analysis at wallstreetcrypto.com.

http://www.wallstreetcrypto.com/2013/12/are-we-out-of-woods-yet-bitccoin-market.html

Some evidence based analysis as apposed to the more common "I saw a red candle" based comments.

Good analysis. Rough times ahead.   :-[

About tonight:

I hate to say I told you so, but I do appreciate the return views on our site so...  I told you so.

Do you think the upcoming bitcoin conferences will give some resistance to the deceleration?

I tried to take into consideration market growth and publicity but variables like that are difficult to translate directly into pricing, but I think what were seeing is a natural deceleration fighting the forces of introductory growth.  Public interest is still growing in bitcoin but this down-swing is overdue and I'm glad its finally here.  I think a bounce back from this will shut all the cryptocurrency "doomsayer" bubble peddling idiots up for a little bit at least.

Sorry in advance for my little tantrum  :P

Bitcoin is dead. $5 by the end of the weekend.

/troll

Bitcoin is history in the making, this won't happen.

Agreed, you should check our our article "A Vision of the Future of Bitcoin and Cryptocurrency".  I'm not sure Bitcoin will be around forever but crypto is here to stay imo.

remember me :D

Thanks for posting please post more in future. Do people think it would go to $200 or so?

It looks like were going to stay above $300 momentum on the longer intervals seems to be flipping around

Nice call on the December forecast. Whats your speculation for the price on New Years eve?

I speculate for the month of December Bulls will win, Bears will win, and pigs will get slaughtered.

Hard to call at this point, I plan on publishing a new monthly analysis toward the end of December but we really really have to see if the long interval downward momentum flips around.  Right now were about at the tipping point so keep an eye on wallstreetcrypto, and we'll having something up soon!

Can you see a drop?

Seems to always drop early in the week to mid week and start a rally Thursday through to the weekend?

Myeah, gonna tune out for the rest of December and wait it out. No good can come from acting upon this (except maybe buying)

$550, 'Maybe' a brief dip to low $500's somewhere between now and Christmas.

I would like to see it go back to $400 and grab a bunch at that price. I missed it yesterday. I just don't see it going that low again, ever.

Where to generate our own "fibonacci retracement charts" ?

I think it's pretty likely we'll see another bloodbath before the end of the month.

You can download MT4 preloaded for BTCe or use something like Ninjatrader or one of the many other Forex platforms and dig up some DLL's to import life API data from btccharts.

Fib retracement is something you'll have to figure out though, I'm not aware of any tools that automatically plots resistance and support automatically in any reliable way.

"Bloodbath"? that's a strong word.
What low are you thinking?

[pretty sure a bloodbath already took place]

380 before REAL support hits.

Stamp is about to break 700

Well in december max price will be aroun 900, but q1 and q2 next year rpice has increase to realy hight level ( i mean over 2k) becouse lots of asic miner machine will go out and that company has to keep client.
This is my personal opinion but what happend, we will see

why would asic production drive price in and of itself?

Maybe people stop preordering ASIC miners and buy Bitcoin instead

Ha! Never gonna happen, too many people in the world who failed basic math.

What would this have to do with it?

Bump what are people's call for the next few days?

Lots of cardboard boxes - could be useful for washed out day traders
Lots of men in red suits with white fluffy beards and kids on their knees

BTC ... I'd be surprised if we do not strike for the low again, possibly break it and have a stab at $280-$320 (Stamp), which will hold
Lots of bank holidays to delay new fiat, low volume ... easy to give tree another shake if someone wants to

I'd imagine the days preceding, and maybe a day or two following Christmas will be very low volume sideways downtrend.  Toward the end of the month I'd imagine were going to see a real show.

I think we're still in a bear market, $200's i doubt (below April all time high v v unlikely unless v bad news come up) maybe we go back to $300-$400.

There is a tremendous amount of bids on the books. Who is going to sell right through that?

We are entering a period of stability.  Crashes don't just happen from inertia. When has that ever happened besides the flash crash of silk road?

It looks like the holidays are going to flatline. Which intermediate term looks bullish to me. I think at this point we need bad news to bring the markets down anywhere close to a test of the lows. Otherwise it may be a few/several boring weeks of trading.

I'm still hoping for some panic continuation, bears promised us 300 but hide in the woods now. nobody sells. bot juggling in one place...

2013-12-23 12:31:23,004:*** bought xxxx at 662.801270
2013-12-23 17:18:13,300:*** sold xxxx at 682.646370
2013-12-23 18:17:06,216:*** bought xxxx at 662.801270
2013-12-23 19:52:11,145:*** sold xxxx at 682.646370

tfw

Would you consider the indicated period also to be a period of stability?
https://i.imgur.com/jMMS7tAl.jpg

Inertia? We just rallied from 455 to 775 in 2 days. Following the run-up to 1067, trading entered a relatively stable range for ~5 days. Then buying pressure became exhausted and volume leveled off....

Hey....that is what the BTC price is doing right now as well.

Wait a minute! You dont think that........no, impossible!

We have had our bottom. Now Bitcoin must go up, afterall, we are all agreed that in 6 months time $600 will be consider cheap for a Bitcoin, right?