Bitcoin Forum

Saw bitcoin is 750 USD right now. How much you guys think it will go down and stabilize to.

Also how long the stabilization period you think will last before the next jump.

It has already been down, now it's time to go up. You see the jump happening right now and ask how long before the next?
P.S. This should be in speculation.

There is nothing for sure but we will probably not get under those $400 low ever. If BTC is banned by all countries we will look to 0 of course. Last news being overstock.com with 5M unique visitors daily!!! Will begin accepting BTC. If you did not buy 400-500 are the best prices you will probably get

It can go down below the $400 levels. If there is a massive sell-off in China, then it can even return to the pre-China boom levels. A lot of BTC is still stuck with BTC China, with people unable to withdraw to CNY. 

They are not unable to withdraw CNY, they are unable to deposit fresh CNY to the exchange.

They can withdraw until 31. january, then neither are possible.

Where is this info from? I have not heard that

Truth is nobody knows. Whatever you do, don't listen to anybody on this forum.

Remember, it will go way up. Eventually. Someday.

//# HOW MUCH will Bitcoin can go down ?

Zero ( zero; BrE: /ˈzɪərəʊ/ or AmE: /ˈziːroʊ/ ) ... nap

Hmm the walls at 400-550 on Gox and stamp look pretty convincing. I remember thinking the same thing after the 575 bottom too though.

The charts of the two big USD exchanges suggest that a sort of double bottom has formed (at least in Bitcoin terms), which is kind of bullish.

The BTC China charts however, suggest that there is another heavy slam dunk to come.

BTC China is leading this market.

I have heavy buy-in tranches set up between $100 - $230, but also have capital ready should the market correct back down to around the $400 level, and show that it is ready to spring back up again.

If anyone considers a $100 - $200 buy in tranche to be a bit crazy, just think how you would have thought about a $380 buy in tranche just 14 days ago, it would have been impossible, right?

That can only happen if and only if the protocol is broken. That is very unlikely. Someone somewhere will always mine, and someone somewhere will always covet bitcoins. Even if a New Coke comes out, some folks will always want the one and only original.

I'm not sure about this double bottom:

Crash 1:
Gox: 570
Bit stamp: 550
Btce: 550

Crash 2:
Gox: 455
Bit stamp: 375
Btce: 420

The difference between 550 and 375 on stamp is huge. That's a 32% loss. Maybe you should be looking at this on a log scale. In comparison, the double bottom in April was 55 and 50, which are only 10% apart.

What I am impressed with, though, is the volume. There was a big volume increase on the second crash in western exchanges. Btce alone did 150k. This would suggest that the next crash might be the double bottom.

hahaha, if so don't take this advice!
Or my advice just now!

http://www.bloomberg.com/news/2013-12-18/btc-china-says-it-can-t-accept-new-deposits-for-bitcoin-trading.html

“The PBOC statement on Dec. 5 was somewhat vague and there is more clarity now,” Zennon Kapron, managing director of financial consultancy Kapronasia, said in an interview yesterday in Shanghai. “The way it’s reading now is that after the Chinese New Year, you won’t be able to get your money off the platforms.”

After all, they did stop deposits right away, so what else can the deadline be about than withdrawals. But I guess its possible that Im wrong.. but I would not keep my money there after 31. of january.

oh, I dunno, small things like BTC China being at least $100 ahead on the way up, $100 dollars lower than anywhere else on the way down. The fact that BTC has exploded on positive Chinese government/ PBOC statements, and imploded on the negative ones.

Tell you what....you continue to look at what is happening on LocalBitcoins or wherever you think the market is bieng made, and I will keep looking to China, and we will see how we both get on.

Possibly I have a hyperphobic intolerance of anyone who disagrees with what I think. Something I need to work on perhaps.

But I certainly wasn't angry at you. If was, I would have swore at you and insulted you. I seem to be able to do that on this forum without getting banned....its great!

yeah, ok, Gox leads for the last 20 minutes.

What time is it in Beijing at the moment?

I know what side of the fence I am sitting on. You are free to place your bets wherever u wish.

BITCOIN IS GOING FOR A PLUMMET AGAIN HODL OR SODL!!!!

(we want cheap coinz!!!! :D)

I still think $400 was the rock bottom price and that $600 is good price to buy at right now though I expect a lot of volatility over Christmas and into the new year.

My buy orders tonight are in at  $400-600.

How can you call a rock bottom price when the bounce was led by btcchina (hence it was artificial)? How do you know it will bounce at the same price once btcchina is removed or continues dropping?

How can someone be sure $400 is the bottom when $400 was reached for the first time about a month ago? This is totally uncharted territory.

Yep...I get the uncanny feeling that a lot of people are going to be very shocked at just how low Bitcoin will be made to go.

If Bitcoin hits ~$400 again and confirms a double bottom, with a strong upsurge, then I too will read this market behaviour as the bullish signal it would have to be seen as and enter the market accordingly. If such a scenario were to occur, then I won't be one of the ones who gets in at the bottom as I will need to be strongly convinced that the trend is reversing at this price range, by strong resulting upward market action...which means i will miss out on a few tens of percent of upside.......but like I said, i think it is going much lower yet.

Here are my buy-in tranches on Bitstamp:

OPEN ORDERS
Order type   Date and time   BTC amount   Bitcoin price   Order value   Order status   
Buy   Dec. 20, 2013, 12:53 p.m.   10.00000000   $230.00   $2,300.00   Open   Cancel
Buy   Dec. 20, 2013, 12:31 p.m.   10.00000000   $200.00   $2,000.00   Open   Cancel
Buy   Dec. 20, 2013, 12:31 p.m.   12.00000000   $180.00   $2,160.00   Open   Cancel
Buy   Dec. 20, 2013, 12:31 p.m.   14.00000000   $160.00   $2,240.00   Open   Cancel
Buy   Dec. 20, 2013, 12:32 p.m.   16.00000000   $140.00   $2,240.00   Open   Cancel
Buy   Dec. 20, 2013, 12:32 p.m.   18.00000000   $120.00   $2,160.00   Open   Cancel

Ha you are dreaming. I see way too much fundamental REAL value to Bitcoin to see it ever go to $200, let alone $120 without some kind of major Bitcoin catastrophe, China can't do it alone imo.

Have to remember how many people are using Bitcoin as a store of wealth right now, I can't see there being much appetite for anyone to sell down that low.

If you see on exchanges such a low prices, it doesn't mean that everybody is going to sell at it.
The most of whales are now only buying, not selling. I personally know people who hold over 10K btc and have never sold a single bit below $1000. They just don't care about Chinese, FUD and depressed speculators. They don't even look at charts. The same is about big-scale miners.

I personally would be happy to see bitcoin at $300 but I'm sure if it ever happen, it will be a flash crash for a few seconds.

P.S. thanks to proudhon's hilarious FUD post which helped to complete all my bids around $400 :)

I certainly don't expect a bottom below previous ATH ($266), and below $300 I find highly unlikely. Granted, it's bitcoin.... certainly possible. If it happens, it will be over in a flash.

Your right, bottom might be $300, but no lower, $300-$400  too good price to miss buying

Who in their right mind is using something as volatile as Bitcoin as a 'store of wealth'

Bitcoin is used for shifting money around, shifting money around under the radar, for buying drugs on the internet, but it's first and foremost use at this point in time is surely speculating, I would have thought.

I would suggest that so far, we have had a relatively weak recovery since we are now entering a clear downtrend again (my MACD's and my Stochastics say so). This $380 - $720 pales in comparison to the the $540 - $990. Lots of people thought the bottom was in then as well, I didn't and actually made a lot of posts suggesting $300's would be next stop....wish I had listened to my own advice.

Looking at the USD charts and especially the BTC China chart, instills zero confidence in me that the bottom is in or that the next dip will either confirm the bottom or set a higher low.....especially since this Chinese Bitcoin 'ban' gremlin is still at large.

Time will tell.

Fundamentals look good to me too: www.bitcoinpulse.com

the Unshackle Vodkas .. listem

http://www.youtube.com/watch?v=eVRpA-_jzV4

My feeling is most of the chaps here 'investing' haven't got a clue about fundamentals which is why it's not often discussed on these boards. All they want to discuss is the latest bit of pump+dump news like China.

Spend a bit of time outside of this sub-forum, also check out many other bitcoin related websites, see how many people are talking about it, how many businesses are using it. This really is still the beginning. As I keep saying, short of a catastrophe, BTC will continue to trend up.

Got a bunch of coins at $550 last night, my buy orders working so far. I think we will see a few more short drops into $500 over the next few weeks as well as some highs into $750 ish, but generally settling into the $600 mark. I will be sniping coins under $600 whenever I can.

Perhaps I don't have a whole lot of knowledge about the fundamentals, but I do know that the fundamentals won't have changed much in the last fortnight. I do however know that the price of BTC however, is down 50%.

I know what catches my attention most at this point in time.

When we get another period of relative stability in Bitcoin, then I might start looking in to fundamentals.

Such hostility from long term holders around here. Why so hostile simply because others trade on different time frames than you? I am a long term bull, I keep some in cold storage. Such hating on day traders. Digging for positive fundamentals isn't particularly useful when trying to navigate a short term bear market.

Maybe I'd be talking shit like that too if I was around in early 2011.....

Day traders are full off shit, nothing more same as BTC-e troll chat :)

I don't think we will see it go below $400 unless something worse than the recent China news happens. Hell like I've said before, $500 is the new 'cheap' price that has a lot of support, and every time it dips below $600 i buy a coin and hold.

haha LOL to this comment.