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Title: Bitcoin price is likely to reach new highs around April end Post by: ndnh on March 28, 2014, 06:59:32 AM Bitcoin price has been plunging because speculators are waiting for a positive or negative news about bitcoin. Lately, all the news was negative and prices of everything is going down. When you sell all your bitcoins, it is very likely that you buy them soon. WHat will you do with all that dollars? They are just waiting for it to go low and to buy them back at the first chance before a huge price jump.
But in a week and Surely after April 15, prices are expected to spike up. The ride will be bumpy. I suggest you not to sell your bitcoin merely because the market is slightly bearish. However, most of the bad news is over. Prices will go up once there is a good poisitive news about bitcoin (like Mtgox restarting its service) Most of the altcoins will go down, while some major coins like DOGE, AUR, MZC and a few others will survive. LTC will go up. I suggest you to wait... Meanwhile, markets will be highly volatile and responsive to latest news. Prices will not fall less than 450. But it can go up to around 800 in 2 weeks. Prices depend on the big whales. You can't predict when or where. There is an "hide order" option available in many exchanges. Remember price went up from 130$ to 1000$? I sold some at 300 when everyone shouted it is the peek, can't go up more... Prices can go very high when market is highly bullish, when there are almost no sell orders These are just how I view it. What is your view?? Title: Re: Bitcoin price is likely to reach new highs around April end Post by: greenlion on March 28, 2014, 08:37:07 AM I think your characterization of how the volatility works is totally accurate.
Right now price discovery is still completely Mickey Mouse, there is no real widespread market-making and derivatives market. The normal mechanisms and forces in play in established markets are not ubiquitous yet, because the entire exchange infrastructure is still completely in its infancy. |