Bitcoin Forum

As the poll states, is bitcoin more likely to rise and stay above $1,000 or go and stay below $500?

Down below $500. Not sure for how long, but likely for the remainder of 2014 at least. I hope not forever.

I think it's more likely to rise above $1,000 for a prolonged period than to stay below $500 for a prolonged period. If it drops below $500 it will be a result of a small group who have tons of coins to sell and would recover quickly. Flash crashes are much more likely now but they will be bought up insanely quickly. We're at half the price of our ATH and the majority sentiment is that BTC has the potential to reach and surpass that ATH within the next few months to years.

When you look at charts you can't predict the support from people who don't have bids set yet. This includes CoinBase, BitPay, and other brokerage firms who buy on customer demand not reflected in the charts.

I think the masses support a price in the $600-$650 range and upwards. That being said, the length of time the price hovers in this range will be a major indicator of how powerful our next rally will be... It has to hover here for a little while to establish a base but the longer it floats at $600-$650 range the less powerful the incoming rally will be on the logarithmic scale.

If the price falls below $500 it will be the fault of the large players and not the masses. Once the FUD clears and Bitcoin still exists the trend will be taking another turn. The 3rd and 4th quarter of this year should bring at least $3,000 (the rally indicated by the peaks of April 2013 to November 2013 on the logarithmic scale) but as high as $10,000 (the rally indicated by the peaks of May 2011 and April 2013.)

The rallies are getting much closer together reflecting the general sentiment as awareness increases...

This is what has happens in the past, and it's going to happen again.... It slowly drops down to whatever.. then the media stops talking about it, and people start to forget about it, then out of no where, it'll sky rocket.

So, I'm thinking it'll dip down into the 400 - 300.. then do a sudden dip to 290's for a very short time before it sky rockets to $10,000... Then the media will be all over it, and it'll all happen again.. Wash, rinse and repeat, Wash, rinse and repeat, etc...

I've been around BTC sense 2011, and this whole up and down thing is just how it works. It's funny what kind of things people relate the price to... "Hax, China, Gox, etc..." ... People will say whatever to relate the price fluctuation to the market, it might be true, but it might not be true.

Yes.

If this week wasn't enough to knock the price down under $500 (excluding that one short-lived blip at BTC-E), it seems bullish to me.

Going over $1000 to stay is a forgone conclusion. The only question is when.

Going under $500 is a possibility. The question is how long it will stay there.

I still think we need more time to allow the market to soak in all the bad news. People are holding and waiting anxiously for positive developments, but have their fingers on the sell button, ready to click. If we don't hear any positive developments about the tx bug and customer withdrawals soon, I have a feeling that the market will get much worse as frusteration mounts.

I don't see it going above $1000 anytime soon (i.e. this year). If it does it'll quickly get bitchslapped down by people like me who are still trying to offload stupidly expensive coins bought during, um, more optimistic times.

On the contrary; people sell out of fear (short term impulse, rapid volatility), uncertainty (medium term outlook, slight downward movement), and doubt (how likely Bitcoin is to survive at all; flash crashes, price doesn't recover.)

Most of the market is selling from fear. The fear happens extremely quickly. If there's more fear injected it won't be for the same news; it would be from something new...The uncertainty is relatively small right now as can be seen by the new support base at the $650 range and doubt remains very slim. People who doubt Bitcoin will survive usually aren't invested in Bitcoin at all.


All it would take is one single company or investor to decide that they want to own 1% of the BTC currently in circulation... They wouldn't just dump a buy wall but they would drive the price in proportion to the rate of price increase. If they feel there is a competitor it will increase the buy volume as if it were a race...

Most investors won't buy when they believe the price is too high. If Bitcoin doesn't tank on these current events then chances are higher that it'll never be cheaper to buy than it is right now and the "too late to win" mentality will be completely washed away...

Silly noobs who bought at the peak don't hold enough coins to bitchslap anyone.

10,000$ in April 2014.

 :D you don't actually believe this, do you?

Sometime in 2014? Likely.

By April 2015? Almost surely.

By April 2014? Probably not.

I believe in this. But it will be like a 10 days rally. So be prepared!

$10k in less then 3 months is a pipedream i'd say

i assume ur eager to catch a profit as a fulltime hodler since december but dont worry, it'll come

U absolute despicable cunt!

You more than anyone have been cheer-leading Bitcoin at the top of the market, telling everyone to buy, telling everyone how you were going to buy, calling bear traps etc etc. Unfortunately for such a junk food addled Bitcoin Nutter retard, you leave an absolute Autobahn sized trail of evidence behind you, proving what a absolute clueless fuckwit you are.

I have taken a little look through your post history and have to say I found an embarrassment of riches (for anyone who interested in humiliating one of the worst Bull-tards on the whole forum).

Take a look folks and if you like these, believe me, there is much more where that came from:










Congratulations. You are probably the most consistently wrong poster on this forum Since Dec 2013. If I were you, I wouldn't have the face to keep spouting so much shite when you clearly don't have a clue what you are talking about.

Its really funny to me that people expect it to stay below $500 for the whole of 2014. That would not only break about every pattern ever in this market, but would also make little to no economic sense.

What pattern would sub $500 for 2014 be breaking?

the truth is always somewhere in between

LOL

Since December? Is that when your world began?

 :) ;) :D ;D
______

Seriously, since I'm not obsessive/compulsive, I have no intention of rummaging through your post history in rebuttal, but I certainly recall many occasions when your beartrolling almost made me reconsider my policy of not putting anyone on ignore.

If i were to start using ignore, you'd be in the first troll group I'd ignore, along with your ideological soul buddies and intellectual peers Revans, Fonzie and Bitcoinlitcoinbtcltc.

There are certainly many other trollbears here but Jaro/Walso at least uses smileys and Mucus has a certain comic wit when they troll, but you obviously lack the intelligence and social savvy to troll at their level. Their trolling seems more detached and thought-out than your deeply personal and emotional outbursts.

Perhaps a little introspection would help you to come to grips with what's eating at you and causing these angry tantrums. Then again perhaps you should just seek help.

Peace.

Bitcoin and bad news never stopping but its proven its most resistant ever. China banned russia banned what can happen worser?

Best. Post. Ever.

All the bulltards who now say 'only idiots buy at the top', were the very same ones who were pumping btc like no tomorrow at $1000+. Fucking peices of dogshit.

Sigh. Permabears. Not the brightest.

http://i664.photobucket.com/albums/vv10/JimboToronto/sillybear1.jpg (http://s664.photobucket.com/user/JimboToronto/media/sillybear1.jpg.html)

They sure can be a bunch of wankers though.

http://i664.photobucket.com/albums/vv10/JimboToronto/rallig-10.gif (http://s664.photobucket.com/user/JimboToronto/media/rallig-10.gif.html)

 ;D

This forum makes me wonder why it's so darned hard to be a committed bear and polite and humane at the same time.

LOL This trollbox will test anyone's resolve to be civilized and avoid profanity.

I try to keep it light and avoid foolish over-seriousness. Some people, especially bears, take themselves far too seriously which is why they're so much fun to tease.
___________

Sorry, I cant help myself:

"It's so darned hard to be a committed bear."

No it's not. It just takes 3 shrinks to sign the papers.

 ;)

Those that bought at peak of April 2013 rise are not doing bad right now ;)

Of course it's not best thing on the world to buy at peak but historically that wasn't a huge problem so far in the long term. I wish I bought at 32 in 2011 and never sold  ;D

Sory,
But what you talking about ?
Wich bitcoin?

All bitcoin has gone.

Not possible withdrawal btc and money.

Number 1 positive about a crash to zero: fuckheads like you don't get to be bazillionaires.

LOL, OWNED

These Bitcoin cheerleerders will never stop. They also sit on here and try to immediately and undermine anyone who posts anything they consider negative.


I just say to them, why do you not just sell your bitcoins if you're going to waste all that time trying to mislead people into buying.

@Edward50

You watched price go from $2 to $1242 but somehow LOST money

you can't talk

from dec 2013 year, the price reverse flow, from 1242 to 2 usd

Confirmed!

I came to this thread looking for some insight as to what the extremely narrow range of trading today might mean (virtually static market often heralds big move in my opinion).
But this is SO MUCH BETTER.

The narrow trading range represents sellers refusing to meet such outrageously low Bitcoin prices, thus Bitcoin is consolidating and preparing itself for a HUGGGEEEE bullish break-out!

Check out the Bid wall on Stamp. An absolute mountain of buyers piled up there in volumes never seen before. No point then in trying to get low priced buy-ins in amongst that lot. The only way you can be assured of cheap Bitcoins at these prices ever again is clearly to pile in at the bottom/front of the Bid Wall now!

Go, do it, before its too late!

Please?

Pretty Please?

With fucking sugar on top?

Ah, but can you back up this thesis with a chart, with coloured lines drawn on in Windows Paint?

Something's about to happen, one way or another. Last time this happened it dumped $250 and then bounced back to $700. I'll probably miss it laughing at the bear though.

What is more likely looking at the chart and current news? I say down so that probably means up since I'm wrong more than I'm right. Good thing I have miners making me btc and doge to cover my fuck ups.
Everyone is looking to pick up cheap coins which means it probably won't happen. Major crashes seem to happen when most don't expect it. I'm still betting it will drop this weekend though.

I reckon it will go to around 500, but not necessarily under and then hang round there for a while before rising to 800 ish.

MatTheCat has a point about the wall of buyers stacked up - though looking back there are suddenly more sellers on the other side now, too.

I think Matt was being facetious.

I was indeed only being 'facetious'.

When the market is stationary relative to the mass of buy and sell orders, trust the Bid/Ask walls like you would trust a fox to guard a chicken coop.

Heh, yeah, when isn't he? :P

Run me through the psychology of that?

Time goes more slowly when you spend so much time in front of the computer waiting for the price to rise. This mini-crisis has only been around for about a week. Right now, even though pushing the low 600's USD, I see the bottom end just about where it is now, and hopefully it will push up again to the upper 600's in a day or so. I don't see it breaking 700 in the next few days, but give it 2-3 weeks I see a very good chance of 800 again. That should get the ball rolling. Tough times require patience. As for the long term, it would be nice to see a steady rise, maybe $1100 by May 1? I wouldn't bet on it though, not until we see what happens in the next couple of weeks.

457 usd at gox !!!

The psychology of Liar walls?

To affect investor psychology of course. At the time I made my previous post, Bitcoin was at $650? Perhaps if a holder of Bitcoin were stupid enough to trust the huge Bid wall, he would look at the thousands of BTC of orders standing in between the then current $650 and a mere $20 - $30 drop and think that he was safe and that he didn't need to sell. He may then look at the comparatively shallow Ask wall, and think, "gee, with all this buying interest piling up I had better get me some $650 Bitcoin whilst I still can".

Now that we are at $590, and probably much lower by the time you read this, perhaps you can see why an investor shouldn't place too much faith in what the Bid/Ask wall is telling him about the market conditions.

These walls need not be 'liar walls' as such, they may be genuine in that there are forces out there with much more to lose than the nominal value of thier crypto holdings if Bitcoin goes dramatically down. There might be huge sums of money being put into these walls that will really stand and absorb any dump that comes it's way, without attempting to immediately liquidate at the next best opportunity that comes along. But the fact that we have this one bullish indicator (the huge Bid volume across all exchanges), in amongst a shit-storm of bearish indicators and sentiment, should tell you not to make any Bitcoin decision based on what the Wall is telling you.

Ok, misunderstood what you were saying (or, at least, the exact way in which you were being facetious).
Bid walls aren't a reliable indicator that the market is going to do the opposite of what they suggest on the surface of it - they're an apparent indicator that isn't reliable in any sense? Of course, if there were any really reliable indicators, the market would take that into account and do something different...
Makes me wish I hadn't sold my house and bought at $640 though.