Bitcoin Forum

Just asking :)

Left to right, with peaks and troughs.

Christmas is coming, the geese are getting fat, and people need money to go buy a new hat. I foresee a lot of miners selling off what they can while they're still in the green (e.g. over electrical costs). It's what I'm doing at least, though with only 2GH/s I'm not exactly a major factor -- about 0.05% of the total Bitcoin network power I think? Anyway, my bet is we see an even lower low than what we've had in October and November, if only because of the desire to shop for gifts.

THE MANIPUALTOR either pulled out or his bid walls got sold into. where the heck do you think it is going without santa manipualtor.

I'm dreaming of a nice bidwall, like all the bidwalls I use to know...

The rally speed was unsustainable  - a correction was long overdue and only the bid wall was postponing it, when it was broken this generated a lot of down momentum - but it quickly got dumped.  Maybe it is still early - but it seems that this time a sell off of 45K BTCs didn't have the same consequences as the last time - that shows the strength of the uptrend.  My prediction is that there will be one small wave up, then again one down and then we'll be back to the up trend.

I think that is it for now, we are at least heading back to 2.9 but if it will surpass 3.14 is questionable.

going to 2.6

then to 2.9

then above 3, stall out early in the week

big sell off back to 2.8

upswing to 3.5

Can your explain your targets?

I can also write something:

Down to 2
Up to 2.4
Down to 1.9
Up to 2.2
Down to 1
Up to 1.8
Down to $0.75

:)

There is only one thing that I know for sure, the $2.5 zone is a massive bear trap. Combined with the incredible strength the $2 support zone has demonstrated in the past, Bitcoin has actually had more good news and more positive indicators (spikes in google trends, a probable reversal in transaction count decline etc.) than in a long time.

So unless some really bad news come up, I can't even see a test of $2 as a possibility. That's why we're in a big bear trap around the $2.5 mark and I think most people realize this, which will probably lead to back and forth between $2.5 and $3 for a while. There is a possibility of a spike to lower than $2.5 though, if there are people willing to step on it, so to speak.

And I do agree that the next time we pass $3, there is likely to be more enthusiastic buying at prices over $3, leading probably to a break of $3.5.

Always near to the loss-margin, but in general above it.

It's good to see your hypothesis concur with mine! Onward price graph!

The hype from the Fox news story has worn off.  Many people bought on the news and kept buying while it was going up.  As soon as momentum dropped the speculators tried to cash out as quickly as possible.

If it was started from 2.4, will it stop at 2.6 ?

Still on a downward trend.  I wouldn't expect it to go below $2.50 however.  Some people who bought on the sizzle of the news are likely to hold for better selling opportunities.

if we can reach 3.25 we can go to the moon and have a nice little afterbubble.
otherwise I expect a drop of about .2-.3 over the next 2-3 weeks.

I for one am strained in chistmas budget and cannot buy additional coins this month.

Can we first drop to 2.5 to ignite the engines in prep for lift off, its just where my money is thats all  :P

If bitcoin does not breach $3.14 immediately, and I do not think it will, then I expect a bounce below $2.6 before peaking in the $3's. However, a drop below $2.5 (the first peak 20 November since <$2) would have devastating psychological impact.

Nope, none.  I'm gonna go click some things and make some numbers happen now.

Hmm the fact that difficulty is very likely to rise could have a positive effect (as it will become cheaper to buy them).

Bitcoin could reach up to $4 or more. I'm 100% certain about this.

Hi everyone, I want to point out that Jon got the first three perfectly correct.  He called the 2.6 bottom EXACTLY, then a 2.9 spike EXACTLY, then the stall out at $3 EXACTLY :O

When?  My guess is sometime soon; if not then, then later.  What do you think?

Can you post a chart or graph relating psychological impact to BTC/USD price?  Please measure impact in units of nano-WTFs.

The graph of devastating psychological impact is similar to the trajectory of a brick falling from the roof.

's about 17 000 nano-WTFs then.

Nano? I'd expect a WTF on a macro scale

Bitcoin might be mega-FT

We are now in the "upswing to 3.5" stage.  Brace yourselves. (wtf Jon is a psychic)

Except we didn't have any "big" sell off, and it's very possible that's still waiting in the wings.

LOL. We missed the 2,80 target by a hair (I think we went down to 2,90ish, don't remember. The rest was spot on. Any more predictions, MASTER? :p

Jon says all his mana was spent on that forecast ;)

by which he means he's the Manipulator and he ran out of funds

Me too!! I'm a 100% certain it might happen.  LOL.

Hi everyone!  More predictions from the Oracle of Bitcoin, Jonathan Ryan Owens.


There you have it.

Spike to 3.6.
Back to 3.3, stagnate.
Then 4.3.

To be fair i said 3.6 - 3.65 .. just happened BTW

This looks like a key moment.

Even a broken watch is right two times a day.

It never points at the wrong time.

So whats going to happen? Are we looking at a long turm cuve now going upwards or is the price now going to drop down to the low value again?

The strength of this rally is so strong, and breaking the important area of $4 so crucial, that I'm willing to say that this changes longer term situation, it's not just a short term boost. However, this doesn't mean it's going to be a "gargantuan rally straight to a new bubble". There will be corrections on the way and many struggles, of which some will be hard to overcome. But I feel very optimistic of the long term picture, not only based on price technicals but the fundamentals of Bitcoin as well. It's here to stay and very unlikely to decline. Bitcoin has so much growth potential and it has survived a lot of crap, that is a big deal from a price perspective as well. And I think people are starting to get it.

this is correct.

there are more funds on the bid side than there were yesterday

and only 18k BTC in asks before $4-5 is cleared

Please post a depth chart...

here
http://bitcoincharts.com/markets/mtgoxUSD_depth.html

I see 40k BTC in asks!  What are you talking about?

my bad, not enough coffee..  i don't know where i got that number from ) 40k is spot on
thanks