Bitcoin Forum

In my opinion the next few months are slowly turning into a make or break time for Cyrpto. I don't think it will break completely...But it may collapse before doing a "Phoenix" and coming back in another form. Just looking at the BTC price slowly but surely sliding to lower lows and not making new highs seems to confirm that many people are converting back fo Fiat. I strongly believe Crypto will remain in some form or another but these times are not for Widows and Orphans to be investing in it. Said that a little is ok...who knows we may have another bonanza! $1000-$2000 seems a good risk reward level...but it all depends on your personal circumstances...I haven't got a Falcon and a Camel! I am steadily mining investing and trying to stay upto date with the Bitcoin Backdrop....it ain't easy but we are the pioneers of an exciting age... Remember 99% haven't even heard of Bitcoin.....Try and ask your friends and family what it is...you will be amazed at how ignorant people are. Comments always welcome....constructive ones..

These ups and downs happen probably at least once a month and usually always recover within a few days or a week. The currency is still in its baby period really so instability is expected. I do hope at some point it can find stability somewhere so it can gain mainstream confidence and adoption, but at the moment there's still a lot of money to be made by us speculating on the price, so either way it's win-win.

I'd say that more than 99% of people in civilized nations know about Bitcoins. However, I don't think that barely more than 99% knows that much about Bitcoins. But in terms of the next couple months and value, I'd say things will rise back up. It's just going to take some time. Cryptocurrency's are very volatile by nature and this is reflected in Bitcoins ever changing value.

People said "the next few months are slowly turning into a make or break time for Crypto" many many times already but nothing really substantial happened. Nonetheless Bitcoin is reaching new ATH (twice this year!) and it keeps going strong if you look it long term.
Many more merchants, some sane ASIC competition, etc.
Price fluctuation is inevitable, it is still a speculative market after all, isn't it?
As you said, risk what you can, and consider all the money invested as lost.


That's so wrong! I guess we are below 10% in western and 5% in east.
How can you get that number so wrong LOL ???

Edit: Also explain what "civilised" means...

I agree very much with the idea that more people need to know, understand, and use before we see a stable index. When I tried to explain bitcoin to co-workers one of the biggest questions I heard was "what backs this." I was hard pressed to explain that same value that backs the USD was what backs bitcoin. Someone tried to say the the USD was backed by gold. I tried to tell them that the "gold standard" was no longer the case and has not been for a long time. I think here in lies part of the problem with bitcoin. Many people do not even understand their own USD much less understand a new form of currency. As I have said in other posts, the single best thing that can be done to increase acceptance is to inform as many people as we can that good and services can be bought.

As this will also increase the value of bitcoin, it's a win win to educate everyone.

Just tell them the people back it and those that use it. What's backing the value of fiat paper money? People's faith in it. If people didn't have faith in its worth, notes and coins would be worthless bits of paper & metal. Sure they have central banks behind them, but in my opinion that's a bad thing as they can manipulate the price and print more money as they see fit.

oh boo hoo i lost all my shit in bitcoins

that's *not* the attitude to have

be a long term investor, and weather the storm over 10 years.

you'll only be one of the few people in the world still holding onto your 50 BTC (there will only be 21,000,000 in the world)

@hilariousandco this is what I am saying, more people need to be educated about value, whatever that is. "Just Do It" is not working. As a trader, speculator, or investor it only makes common sense to have the consumers on our side. How do we do this? We inform them of stuff (Goods and Services) they can get.

We, who invest and trade the currencies need the consumer more than they need us. It only makes sense to push hard to the consumer that they "need" this, they want this, that they can fulfill their wants and needs. This is psych 101; get someone to point B so your point A goal is reached.

We win if they use, and by default we all win. 

Tell people/merchants about the advantages of Bitcoin. For merchants they have to deal with costly credit card fees and they don't get the actual money paid to them for some time, and there's no chance of any chargebacks. There's also all the libertarian aspects of BTC about taking power away from corrupt governments and bankers etc and giving the power back to us, the people.

yeah very low, only 600 - 700 USD  :D (we start at 10 USD at the begin of the year buddy).

and every month is "CRITICAL" for crypto  ;)

You new folks really need to chill out and stop posting doomsday prophecies. When you've sat through one bubble cycle you'll develop a more mature perspective.

Bitcoin does as Bitcoin wants.

OP,

where the heck do you see lower lows?
I see higher lows (dec 7 - a little below 600, today - around 680),
check it out, if you don't believe it:

http://bitcoincharts.com/charts/chart.png?width=940&m=mtgoxUSD&SubmitButton=Draw&r=90&i=Daily&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=SMA&m1=50&a2=SMA&m2=200&x=0&i1=&i2=&i3=&i4=&v=1&cv=0&ps=0&l=0&p=0&

price bounced off the 50-day MA on Dec 7 and seems to be doing the same again. Well, if we go lower than 660-670 on MtGox, then we may have a longer bearish trend, until then, it's all standard technical market operation. Technically, we could even go to 200-day MA, which is around 290 right now and still be in bullish market long term, so calm down.

Just keep doing what you're doing, and don't worry so much about whether the price rises or falls because there have been worst. Looking at the past, Bitcoin is doing pretty well. If you believe in Bitcoin just keep holding on to your coins and hope for the best.

that statement is completely correct

ever since April the first week of each month has shown some volitility followed by a smoother and steady rise. the only different this time is that december is the blackfriday/christmas period where people spend alot more in bricks and mortar stores. so this month there is a bigger noticable price change while people grab their fiat to buy their family things.

along with this , the panic traders escalate the numbers, and the FUD flinger's try that little harder to throw more FUD around because its never low enough yet for them to buy in.

this is not a bubble bursting, this is best described as a menstrual cycle.
some months can be great, waking up with whatever the female version of 'morning glory' is. and other time, stuck with bedridden cramps, stress, and agression.

you just have to learn to watch out for the signs and know the time of the month to ensure you do not get on the wrong side of our beloved.. bitcoin

From the 13th there have been 6 steps down..... and one up recently...if that's not sliding what is? Plus look at the 10 day ma just about to go below 25 day....MACD negative, Slow Stochastic negative....and a few more also showing a downtrend continuing. Plus BTC. isn't really mature enough to follow chart reasoning....so we may be both wrong lol

https://www.dropbox.com/s/vkc0a8zy2orsjty/BTC%2017th%20Dec.jpg (https://www.dropbox.com/s/vkc0a8zy2orsjty/BTC%2017th%20Dec.jpg)

Maybe you'll start counting hours too and then minutes? :)
It's funny how people on the trollbox on btc-e all scream when it goes down a puny bit.
Just watch for that 670 line, if it's violated and goes to 650, it's short-to-mid-term (a few weeks/months) bear trend.
If price stays above it, we're good.

You could have written the same in July 11 or May 13. In my option all these months are important and critical. When the news are good and the goverments more or less embrace it, the price will soon jump to new all time highs. When fiat money finally fucks up, you will love to hold bitcoins. But it can all come different and go down. We never know.

But sure, now there were more people interested in Bitcoin that had no clue (because it was easier to buy and use) than 2011 or in April 13. One can always say "Ah, we are still higher than 3 weeks ago". But tell this to someone who boght at >1000$. But this is the problem of the buyer. When I buy something that gained in value sixfolded within a few weeks, then everybody must know, that it can easily go down again.




Actually it should be much more. I found this German survey in May 13. One of 6 heard about Bitcoin.
http://www.heise.de/ix/meldung/Nur-jeder-sechste-Deutsche-kennt-Bitcoins-1854908.html
In the U.S. in June: 1 of 4
http://techcrunch.com/2013/06/28/bitcoin-awareness-and-trust/

But I did not find a newer one. Nearly every major newspaper (online) is saying today that according to an survey the German users are sceptical (they always are, I am German)  and many did not even hear of it but I can't find the source.

This is my second bubble pop, the first time I panic sold, that was the crash from 266-60.. sold a bunch at 175-180 and then more at 100..

this time I sold none and I'm more then grateful. I understand where this is going and I have the time to wait.. Just buy and hold and we'll all be rich

Agree, some people should chill. Just think for a moment, if you bought 1BTC a month ago you paid ~300$, now after all the ups and downs it's ~700$ so you earned more than 100% in a month! A bank deposit gives you 3% a year. Some of us bought BTC when it was below $100. If btc goes back to that we may start panicking, but now? It's been a constant ride up. You guys are hyping each other by writing bullsh1t and reading bullsh1t written by other whiners.

Writing bullshit? I'm just saying that at present Crypto currency is sliding and sliding fast.... I'm not making it up...it's happening. Yes if you bought at $100 you are in profit .... at present. If you don't call a 65% drop significant then you are living in CCL.... Constant ride up....mmmmm....1250 odd down to 700...

When I started with bitcoin in 2010 it was at 0.12$, so at the moment we are 500000% higher...

Yes whining about the price drop when it's still much higher than a month ago is bullshit. People who panic because of that are either bitcoin newbies or just greedy. Point is even if you bought at 500 you are still in profit! Yes constant ride up - 2 months ago price was $200, a month ago $300 now $700 or maybe i'm watching different charts  ???

People are born this way: the more you get, the more you want.

Well now it's below $600..... Part of investing is knowing when to exit some or all of what you may have put in earlier...you can always get back in lower... I'm not pretending everything's rosy... I'm just giving newbies my point of view to investing. Technical Analysis isn't new to me... I've been investing for 35 years... People tend to follow the herd... The herd is heading down the riverbank and into a river full of crocodiles... Some won't get out the other side. If it starts to turn again I will post exactly the opposite! I'm not trying to kill Bitcoin or push it's price down. I mine for both PPC and BTC so I haven't given up yet. I will be topping up my holding when I see fit ... But that time is way off in my opinion.

Ok, the support has been broken, most likely going to test 100-day MA at $400+, if that doesn't hold, then it's all the way down to 200-day MA. Still bullish market long term, but short term prepare for some pain.

"Still a bullish market longterm"... You have made one fatal mistake in your technical analysis... You forgot to include the market sentiment and what's going on in the real world. Two big things. 1. Governments getting very itchy about a stranger crashing in on their party. 2. China being the first big country to technically pull in the reins... They had 50% of BTC traffic with 50% of traffic slowly falling away... The charts are looking a bit unsupported.

No fatal mistake, my friend. If something is good, people will always find a way around to get it.
At 100-day or 200-day MA support, it's still a bull market. BTC touched 200-day MA in July and recovered after that, BTC will recover again. Have faith and stay the course.

Ok I have faith.. July was before the real hype and the door slamming. I hope it does rise again but not before I can buy a few more! I will post again when I think its looking like it's going northwards again... If ever :-( thanks for your views....

There will be more hypes in the future, be sure of that. I hope it goes down to 200-day MA, so I can buy more :)

Now below $500......Am I still talking bullshit? Norway and Denark now crashing the party too....China now stops companies processing settlements... They have until Chinese New Year...so 31 Jan 2014 to wrap up.

i think the next few months are critical as well. in november, BTC truly hit the mainstream and set itself on the radar of world governments. the next 2-3 months we'll see what those governments are thinking.

Just a little while ago bitcoin was hovering at about 80-110 USD. Then some news flashes got out which were positive for bitcoin and it went sky-high. Keep in mind that part of it is real and a big part currently is still speculators hoping for it to keep going up and cash in. It's still early days to see a trend where it can remain stable or show an average over time :)

The last $100 blip up was all those yanks with buys set at just below $500...they will wake up andfind they have a S**t load of coins that they will then sell again....driving the price yet further down....It's not looking good is it. I'm just going to hold..... I haven't got my house buried in Bitcoin....just a lawnmower.... I nearly sold all at $900 with a hope of getting in at these levels...but I think the wind has changed altogether...

I keep thinking that this is a good moment to keep buying and keep accumulating, if u have a part of your roll that u can afford to loose.
I got in with 10k€ at 670 now i deposit another 10k and will buy around 400$ and if keep going down will keep buying ... until i reach my personal limit, i mean the amount that i decided to invest maximun in Bitcoin and that i am willing to risk..
And this should be the way of thinking, i mean there are chances to hit the jackpot here so in my opinion it's whort try and keep buying now that the price goes donw.
Being aware that it can keep going down and there is a chance to loose all the money

Not really, it's not going to hit 0$ in few hours. If you observe the market and it hits below 50% of your initial investment it's time to bail out. If it goes up you can always buy back and reclaim some of it. The only way you could lose all is by being careless... or hacked  ;)

 U dident get my point .. what i was trying to say is that there is a possibility to lose a huge part of your money with Bitcoin, but on the other hand there is a decent opportunity to hit the jackpot and have like a 30-40x from what u invest now .. so i guess that the opportunity it's really good.

So we bounced off 100-day MA, let's see if that holds.

True, I'm also very positive about BTC. It's really easy to join the fun and leave with a small profit. It jumps +\- $100 or more daily so even if you put in 1k you can earn about 20% in just few hours.

Now is a great time to buy in. Just hold it and wait for the price to regain, then sell when you're happy with the profit. Buy now at $600-ish, the sell at $1000 or more. Easy profit.

We're just in the very beginning of a helluva ride  :)
If you can read in between lines of lately news regarding BTC. Big things are on the list in the months to come.
Bitcoin can be a game changer in the world's economy.

First countries to fully understand what's going on with Bitcoins can be new world leaders.

Blackswan122 nice advice from your side. Yes I guess now everyone has got some sort of fear after it began the cycle of making new lows every time, thus it will be unwise to gamble entire wealth on bitcoin but only a small proportion will be fine. If you win then wow while if you face loss then forget you ever own that money

Well we are now hanging on a little cliff again testing $640 level.... Will it go up or carry on trying to hit new lows each time...Iv'e been buying on dips...but not really managing to sell on the mini highs. I think we are going to move up from the current $640 to the $770... But with BTC anything could happen. The difficulty is looking rather scary....but the cost per GH/btc at CEX didn't plummet this time... Technical indicators are mixed and seem to contradict each other...I am tipping an upward movement but it's only a 60/40% chance. We may even be trying to stabilise and move sideways for a while.....That will be a first lol

Still I am baffled that so many people dont know about bitcoin. Even never heard of it. I think the good days of bitcoin are still ahead of us. Imagine more people using it, to the extent that we can pay for food, clothes and gas with it, paying our bills. I would be a long road still, but the possibilities are there.