Bitcoin Forum

Looking at the charts, I think we're at the early stages of a new rally. I think there is a good chance of going to 2000-3000 by the end of February. We would have settled at that level now already if the previous rally wasn't interrupted by the China news.

Thoughts?

That's what it looks like to me. Aside from the investment funds and business interest, it appears to me that the exchanges are still bottlenecking the increasing pressure and demand. This is not on purpose of course, but while I am sure they are optimising their systems and hiring to cope with new interest, this activity will always be lagging behind the actual interest itself. It is not easy to keep up in real time, and I think that all the problems you read about - missing transfers, delays withdrawing, etc. - are mainly caused by problems keeping up with demand. 2014 will be the year of exchanges becoming serious international businesses or dropping out of the game.

Just hit $900  ;D

Edit: Now $905  :o

I thinks it's kind of unfair for people all jazzed up about the price to use Gox's standard. The only reason Gox has it so high is because it's nearly fucking impossible to withdraw fiat from your account, so they have to make it worth the extra time to people selling BTC.

Would you EVER sell your BTC on Gox, realistically knowing it would take months to get all your fiat into your pocket?

I personally use Coinbase as an indicator as its price is tied to several exchanges, most heavily weighted by BitStamp - and it's probably the best combination of fast/safe in regards to moving fiat...


Their price says $825 and I'm good with that.

and some said it was china  ;D but seriously what is driving these charts, no major news, nothing, will there be a correction in week or two

The correction is happening. We had a major crash in december, we're correcting up again now.

there's been some major news recently, but bitcoin is a viral phenomenon.

We are just at the beginning of most people's awareness of QR codes, never mind bitcoin.

Keep in mind that the VAST majority still don't really understand any of this. I still have to explain to some of my older (50+) friends how to use Youtube.    ;D  

What I think is important here is to realize that bitcoin != USA.   Sure, folks in the US might have trouble in dealing with Fiat -> GOX -> Fiat transactions, but that doesn't mean the rest of the world does.

well, by now it is probably considered small news, but a billion dollar revenue company just confirmed that it started accepting bitcoin in it's online games (google Zynga).

I'm pretty impressed with the performance so far, the hype and enthusiasm of the new year has been great for bitcoin (not so much LTC, but i'm not worried.. it will follow soon). As long as we do not run into any bad news like the stuff that happened in China, I wouldn't be surprised if it does get to 2000-3000 by the end of Feb. And I really hope it does because if it gets that far so early, $10K/btc in 2014 is definitely reachable.


Zynga and Netflix adding bitcoin as payment methods will help it gain more popularity. After seeing Overstock.com's success with bitcoin, if Amazon and Ebay soon follow suit we will be well on our way to widespread adoption. And hopefully there will be other countries like Cyprus that try to become a central hub for bitcoin.

I went to a big family gathering over Christmas and almost everyone had heard about Bitcoin. A few were even considering investing. Now this is happening all around the world.....

So I think we still have a long long way to go, lots people are still buying in, I think some of you have got forum/chart tunnel vision.

I deal with people who pretend they don't know how to use email. 

I was looking at the chart yesterday and it looks like it's continuing from early November before crash trend.
Have a look at the 1d chart, to me it's a growth not another bubble driven by a number of good news

http://www.coindesk.com/price/ is good too - minor delay but works for my needs.

I got this Impression of the continuing BTC-Price-Rise from early November as well.
BTW: it was never a bubble, because a bubble shrinks to Zero,when it` s bursted.
watch Soap-bubbles and anyone will see that a bubble is

There is also a big hype with the end of the year news about "Best Investments of 2013" with Bitcoin at Nº1, I think there's a lot of 'new blood'  getting on the train right now.

Yes bitcoin never went down to absolute zero but it crashed a lot of time from crazy rally.


Where do you see it nominated as Best Investments of 2013"? From whom?

In almost any online media with a 'finance' section, from Forbes to my neighbor's blog :), just google these words and you'll see what I mean: "best investments 2013 bitcoin" (and that's just in English)

Panic buy has started.

Train is leaving the station.

Bitcoin gains +100 USD in 3 days.

People are screaming "to the moon!" (aka "+10,000 in Q1")

But where is the non-speculative part of this economy?

Needs to keep up quick, but I really don't think it's impossible to do!

Whenever the opportunity arises, spend a bit of your bitcoin people, if possible with merchants who will keep it in Bitcoin! Prepare a live wallet on your 'phone with a small amount of your stash in it for just this purpose. You will be supporting a fledgling market in ways so significant you cannot even imagine!  :)

I don't think there is any need to artificially try and breathe life into bitcoin economy. It will kickstart itself big time, and when it does, your alpaca socks would be not even funny. Most of the internet gaming would be using bitcoin by the end of 2014, that is a trillion dollar economy. You don't need to buy real goods nominated in USD-converted bitcoins, it's artificial and not really a bitcoin trade. The real thing is starting :) All your online games, porn, poker, VPSes, every other digital good will be using stateless bitcoin and the prices would be set in bitcoin, and that's how it will all start :)

Real goods will not be nominated in bitcoin at least another 10 years. Bitpay is an artificial way to pay in "kinda-bitcoin", while actually you are transacting in USD and bitcoin is just the transfer protocol, but it is not very different from paypal. Actual bitcoin trade is when you pay in bitcoin, the price is set in bitcoin (and dollar price changes depending on the ratio), and merchant receives and keeps bitcoin. This is only possible for digital goods, now.

I bet my socks will still be funny!  ;) Probably worth a lot as a collectible also in the future!

But I do think that the faster speculation goes about the real value of a Bitcoin - which is what all this is about of course - the faster the Bitcoin economy needs to ... explode!  :P

The real gaming industrie will start accepting bitcoin soon.
zynga doesn't count. Zynga is a scam with micro payments and a lot of dumb people fall for it.

The non speculative part is still very small. There is nothing else than buy and hold...

Richard Branson I am starting to think you might be a scam... unless you let me test-drive your spaceship!

I am not sure we have even seen full bear capitulation yet.... it is coming

No way

yes, it is already happening with dollar, go and enjoy this.

yup, we should see another capitulation event on the mid-term. this exponential minirally/bulltrap is a great setup for the dumpers. we're so far above the trendline now i'm dizzy...

--arepo

This reminds me of last July when some bears clung to their hopes of $30-50 coins (or even cheaper) and predicted "no triple digits for 2013" as the price moved steadily upwards after capitulation at $66.

Get over it. Capitulation was at $455 this time around. It's time to move on.

Sure there will be dips and panics (like the Satoshi Dice sale or Silk Road bust) but the uptrend is on.

this is simply false. there is a window of opportunity based on the classic bubble pattern about 3 weeks after the period of low volume right before the upwards correction. we saw the consolidation with low volume, and now we're seeing the upwards correction. the greed of short-term-memory-impaired traders will drive us to some ridiculous high (but fall short of a new ATH), the trend will exhaust, and the failure to break up towards a new ATH will spark a short, sudden, high-volume capitulation. where, in terms of price, this will take us is a much harder question but the fact remains that the price environment is begging for it.

--arepo

Man I've said it so many times but $455 was so clearly rock bottom.

blah blah blah blah blah. last May blah blah. 2011 blah blah. Have you not noticed what is going on right now in the Bitcoin world?

What about avalon chips? You could buy only for BTC and USB Block errupters using these chips costed about 0.06 BTC no matter how the USD/BTC moved

Like i said we haven't seen full bear capitulation yet.  Arepo and others will eventually spend all their fiat, my guess it will be when we go past 1250 to 1350 in a single day.

Bears in denial?

Sorry. I misread your post about full bear capitulation. I was thinking about full panicker capitulation where people sell at a loss, not bear capitulation where people buy back in at a loss.

I just woke up. Time to grind some coffee beans.

I think you are wrong  :-\

+1 Having watched this for a couple of years now, this is my read as well. $450 might be the new low, but I'm guessing we will test even lower to flush out the easy money players. Remember that there is plenty of big money that wants to get in the game and as long as there are weak hand players - and there are lots of new ones - they will make repeated efforts to drive the price to lower entry.

This will be healthy for the long-term bull trend, but looks very scary if you don't know what is going on.

That said, I'm not in fiat, and will take advantage of any big drop with new money.

i agree with you but i suspect that $450 is a very solid bottom.

Not realistic. 72 million USD sitting in bids waiting on gox. Right now, these money are extremely anxious that they are not participating. They will buy out any dips immediately, so 50% correction is not happening yet, I doubt we will see anything larger than 20% in January. The bull must ride for a while.

ok. cool. Works for me.  :D

The Rally is ongoing since 12/18/2013
https://www.tradingview.com/x/MKOQfgpF/