Bitcoin Forum

Do you guys all agree with the picture??
Bitcoin will eventually go back up soon. I see that it will be a roller coaster ride for another 1-2 years.
Hoping it will become stable once it breaks out the current early stage.

https://i.imgur.com/GbUhUjm.gif

It's a bummer for adoption as a currency, but I think it's going to be volatile for a lot longer than a year or two. I do think the volatility will continue to reduce, and things will be better in a year or two - but it will be more like 5+ years before we can say anything like "Bitcoin isn't very volatile." And even then, it will probably still be as volatile as things like gold/silver.

price being kept down for sure
there has been a TON of good news to counter the gox/china thing in past few months
price has not been reflected

for now and for some considerable time price is at mercy of whales, just a fact sadly
that will only change when a huge amount of people try to get back in, like what happened with china

I really do see $100k bitcoin one day, I have that much faith
but 99% of us would have sold everything a longtime before then lol

There actually hasn't been much a roller coaster lately at all.   It is more like a plateau right now for current prices.  The last time we were flat like this for an extended period of time, a lot of people were complaining how boring the market had been, and then the volatility came right back with a vengeance, and brought prices down around 20-25%.

It seems like just yesterday when people were saying that BTC gravitates to $666 because the prices seemingly would bounce above and below, but ultimately would return to $666.   In hindsight, it would obviously be great if we were back to those prices.

Just look at the price volatility.

http://www.cryptocoinstats.com/volatilitytrackerdetail.php?ac=BTC

We're currently at near historic lows.

Lol, that is a funny pic. But it is true, we are in a stagnating spot and it seems if you are at the bottom of a roller coaster with no momentum nothing will happen. Just need something to hit the limelight and that could push things up again.

There is no reason to believe that we are at a bottom now, except wishful thinking and denial.

That is kind of like the glass half full logic, because obviously there is no reason to believe that we are at the top either...

i really do think that at the end of summer is when we will see things picking up again. gotta get ready for the christmas season after all. if that's the case, it will have been almost a year between the rallies.

LOL to the funny Bears:
It is child's play to prove we are much closer to the bottom than the recent top.

Bitcoin Price Lately
Depends on how you define "lately", since the last month has been brutally boring.
We will have excitement again, it's only a matter of time before the ton of good news pushes the market higher.

What ton of good news?

Yeah, I remember the original gif. It feels like we are locked in place right now, but it won't last much longer. These next few days will be critical™.

Hey man, did you forget the dogecoin nascar  ;)
http://i1.ytimg.com/vi/OwYpbui5BLk/0.jpg

I agree, but I think it could be a bit more than a few days. We're definitely gonna see some volatility soon, but I wouldn't be surprised if it isn't until early June.

Yes, it easy to prove that we are much nearer the bottom than the top....but that doesn't mean that this is 'the bottom'.

How many bottoms will there be? 1? 2? 21 million?

The final bottom can only be identified in retrospect. An indicator for closing in to the final bottom can be the slowing down of volatility and less forum activity. We're seing both right now. So the picture might be right.

ya.ya.yo!

Makes sense, but we have seen a long period of price stagnation like this before back in the $800, although it wasn't near as flat as Bitcoin is now.

Also the $340 bottom, was very low volume for a 'final bottom'. This wouldn't be typical market behaviour, which of course doesn't mean to say that it can't happen.

EW theory the way that I interpret it, says that we are on a Wave 5 of a greater WAVE C corrective move. It looks as though a descending triangle could be getting formed as a tangent to the recent tops ($710, $548), and the recent lows ($400, $340). If this is what plays out, then Bitcoin is looking at lower $300, upper $200 prices before it rebounds or finally consolidates.

Most market bottoms are signified by a lot of selling pressure which is soaked up without the price breaking to lower reaches. This just hasn't happened here, despite having happened with every other major Bitcoin bottom in it's short history.

You're mostly right, but there also exists such thing like a rounded bottom where prices enter a long sideways movement before slowly rising again.

I also think we already saw a significant sell-off / buy-in pattern on the 10th and 11th of April with solid volume.


ya.ya.yo!

a rounded bottom is not such a bad place to be ;)
http://media.joe.ie/wp-content/uploads/2014/01/Screen-shot-2014-01-03-at-20.46.15-634x512.png

^^^She has a nice smile: When you are done staring and ready to read again....  :D



Do you look here every day?
https://bitcointalk.org/index.php?board=77.0

What ton of good news?
The MIT project
"Countless millions" invested in BTC companies recently
No taxes on BTC trading profits in Denmark
Winklevoss Bros: "Bitcoin Will be Bigger than Facebook"
...etc, etc, etc.

New businesses accepting, new investors investing, tens of millions of dollars funneled towards business and infrastructure development (e.g. $30 million to BitPay), greater legal clarity, it's steadily gaining credibility in an "Oh, this is real, isn't it?" kind of way, increased media coverage, MIT offering BTCs to its students (Coinbase has similar offers for new student registrants), verbal and financial endorsement from various sociopolitical leaders and billionaires, hundreds of ATMs being distributed globally, Winklevoss ETF is progressing, etc.