Bitcoin Forum

Bitcoin Is In The Middle Of A Melt-Up

Read more: http://www.businessinsider.com/bitcoin-is-in-the-middle-of-a-melt-up-2014-6#ixzz33ie1VcRO

It is about time the bitcoin price is actually increasing. After the bankruptcy of MtGox, bitcoin shouldn't have gone down in price. At least this shows that by going up, it isn't dependent on an Exchange like MtGox. And I think DISH has helped it go up since more people will start to know what Bitcoin is as they will advertise that type of payment hopefully.

i got in second line and stop

Very short article, my favorite part is the chart:
http://static5.businessinsider.com/image/538dec5d6bb3f7543a859eea-709-869/screen%20shot%202014-06-03%20at%2011.39.48%20am.png

The up-trend is steep and exciting. In the past I would have said it's time to sell at least some BTC, but these rallies can keep going for a long time. Don't be too quick to go against the crowd.

There is a solid feel to this market. It is a reaction to a steady stream of good news and comes on the heels of a several week stable period.

Well, it's not too surprising that the price is going up now that the shock of the Gox failure has worn off a bit. Sentiment is generally positive and there seem to be a good amount of new projects on the horizon. And I can't remember any major negative news stories to come out in the last little while. Slowly but surely bitcoin is seeping in the the public mind share.

That and China had it drastically under valued. The correction should be a fun ride.

bitcoin is make a surprize for the bitcoin user

i think it will be until 1200$ like 2013

I think so, but probably it will take some time

It might, with better and better news each day though things seem to be speeding up. Once we break the $700 barrier we might see some fireworks.

Bitcoin has been melting up logarithmically since its inception. This will continue for at least as long as BTC is still being mined (100+ years).

Lots of good, positive news lately. No exchanges blew up, no controversies, no more bombs from China to shake the weak hands. Gox is finally dead so it can't ruin the next rally like it did all the previous ones.

A lot of VCs and traditional investors are also now starting to pump millions of Dollars into Bitcoin development and other startups.

Things are looking mighty good at the moment, I'm ready to ride this train.

AGreed about Gox.  It does feel like it's the entity that ruined the other rallies, one way or another.  I don't think there are any exhcnages as big as Gox was so hopefully if 1 messes up it won't spread.

When a great tree falls in the forest, the canopy is opened and the forest floor is flooded with new sunlight. Many new trees will grow to replace the old one that has died.

Exchanges dying will never hurt Bitcoin in the grand scheme of things, only temporarily delay the inevitable (https://www.youtube.com/watch?v=WZEJ4OJTgg8).

Exactly. After GOX exchanges underwent some security improvements and the trend of external audits started. This was really bad for holders for sure but good for the community at large.

some say, 340 is the new 50

in that case the new 1200 is around 7000-8000 ish

Mario Draghi is certainly contributing his part  ::)

http://www.standard.co.uk/incoming/article8474571.ece/alternates/w460/draghi-bubbles-a-(Read-Only.jpg http://pixabay.com/static/uploads/photo/2013/01/24/18/21/euro-76016_640.jpg

I think the floor was probably around $400 it seemed to rally back there each time it dipped. The key is for each bear market to set a higher low. That is the way you build stable value. 

Why would you *ever* sell something, under *any* circumstance, that's obviously going to be worth tens of thousand of dollars?

Because you want a couple bucks now, at the expense of $40,000 later?

This logic completely escapes me.

The most conservative estimate involved Amazon and Western Union equivalent.  With zero other use in the world for Bitcoin.  And that put it at $40,000 per coin.

Do you really believe that's the fullest extent of Bitcoin market cap in the next 10 years?

-B-

Agreed, I don't even spend bit coin with out first buying an equivalent amount with fiat. I don't want to be one of those people with a nice pair of socks to keep their feet warm while they mull over what could have been.