Bitcoin Forum

The market has very slowly gained ~$30/btc since the last low.
Do you think this is setting up for a slam-down to $400 (maybe lower), or a "rising base" for the next Huge Rally?
...or both? (i.e. Fast down, then a real rally)

Any guess what time-frame?
Will the whole summer be boring or will the action pick up long before Autumn?
The most accurate predictions win a lifetime of income from your own trading skills.  :)

No one knows.

I think it will be pretty stupid for the price to go lower when we have had so much good news about Bitcoin lately

LOL, good one.

I predict that everyone will fall asleep waiting and nobody will know ;)

dump-attempts repetedly fail. I'd say we go sideways for a while creeping up slowly maybe a little drop here or there (10$ / 20$) and finally acceleration and big stampede then. Run up to at least 1000$ by mid-summer.

we will see this price for some weeks. Still remember BTC stagnated at 800's for almost one month

Did you notice that on Bitstamp? Apparently there's this character or group (haven't checked the order book for stamp) that's been trying to collapse the price by dumping ~ 730 coins for the past 4 days or so. Not sure what his/their intention is because most of the easily skittish have already been panicked and driven off. Its quite easy to see by looking at the chart on bitcoinwisdom and examining the 15 minute volume. Its amusing to see the price holding but you never know... there may still be some nervous types left just waiting to get plucked. Its been entertaining to watch this play out. Just conjecture but this guy must really be greedy or delusional or perhaps he knows something that we don't. Maybe its one of the chinese pump and dumpers who didn't recieve the memo  ;D

I think that if anyone could accurately determine what is going to happen, and the time frame, they would be rich right now.

Yes, price slowly creeping up with dropping volume.

Very bullish
Such CHOO CHOO
Much sense
Negative volume @ 1 000 000 onwards

Why is there is some grand conspiracy theory over the motivation of someone selling a mere 700 coins? It's just 700 coins. It's not that many. Someone is just trading/selling a small amount of coins like that because they have to. It could be a miner, company, trader, whatever. They probably don't have the slightest thought about market manipulation. You guys just need to completely stop analyzing price movements and trades  when there is pathetically low volume, at all.

But you don't understand! 700 coins is like 93% of the entire Bitcoin network!

....

It could just be someone who bought a house with Bitcoin. Or a Lamborghini, :p.

How does one buy Lamborghini with Bitcoins he or she just sold for USD cash? I dont get it.

Step 1: Person buys Lamborghini using Bitcoin
Step 2: Person or Dealership cashes in Bitcoin to pay for new stock (another Lambo)
Step 3: You see the coins be converted into cash because the dealership or car seller had to cash them in

Hope that clears it up.

Ok, maybe second hand Lamborghini, Lamborghini company doesnt accept Bitcoin.

http://www.coindesk.com/lamborghini-dealership-sells-cars-bitcoins/

That'd be a dealership, which works on behalf of Lamborghini. So it's the same thing.

Not rly, Lamborghini company receives cash, they dont even know what BTC is.

For a time I had the expectation the the velocity of bubbles would continue at the same speed (April --> November --> ...) but I now see that this is likely unsustainable. I think even if we see a nice bull rally soon, it will retrace the November bubble heights and we will probably drop to longer term support trends before a real implulsive bubble up.

Dealerships work on behalf of the manufacturer (it's a bit more intricate than just "working for"). When you buy a vehicle from a dealership, it's the same thing. All the dealership is doing with the BTC is cashing it in for fiat, as that's the only way to pay the supplier. Therefore you are buying a vehicle in BTC, and the dealership is the middle-man that converts it.

You mean like Risto?  Or Goat?

Did they just take a risk and it pay off, or were they absolutely sure they knew what was going to happen? I can spend $1 on the lottery and win $500m. It doesn't mean I knew what the numbers were ahead of time or that I'd win.

Yes, perhaps instead of a "Huge BTC Rally" we will retest the all-time high.
$900 to $1,100 might be enough to give the Bears a much stronger case. With the price now down more than 60% it seems foolish to sit with excess cash.

Even Bear markets have rallies and we are due for a good one soon.  :)

I agree. I still think we could see another leg down first. But there is much more room for up than down at from this point, I think

Keep cool, bro
it is too early for proclaiming a huge Rally
I would like a short squeeze though

Howdy Tera,

I'm not trying to imply there was a conspiracy  :) It just seems odd that within this context of a 15 minute volume with an average of 30-60 bitcoins traded for the past few days a repeated dump of ~700 bitcoins with a slow repurchase at close to sell price does not seem the norm. I was just wondering if that particular entity was either trying to suppress the price below 450 or actually trading. My reason was that at most they have managed to drop price of around $5-$10 dollars which does not yield that much profit ~$3000-$7000 on ~$315,000 worth of BTC. I wonder if there's money to be made with this methodology, because they slowly buy more btc soon after and then do the dump again as soon as price approach 450-452. This has been happening for the past 3-4 days. Anyway, folks are free to do as they wish so I'm not really complaining. Its just a strange way to trade especially in a sideways market. Maybe they are experimenting with fading the trend who knows. Either way, just commenting on this particular activity.  ???

A large holder could be slowly selling to prevent slippage/price from declining significantly. One might do so if he thought price would continue on down ... and down ...

Why would you assume he is buying back right away?

I predict that: bitcoin will go to the moon, it will also crash and it will stay where it is.