Bitcoin Forum

Are we seeing the start of a multi year demise/downswing with bitcoin?  This is potentially the 1st year since bitcoin's induction that price has decreased.

https://i.imgur.com/MaNLV4F.png

One technical trader stated back in November that bitcoin is on a multi year down swing to $40.  Could he be right?

Just remember Tim Draper bought 30k BTC @ 900 USD each while the market rate was +/-600. VCs do calculate... U know ;)

8 Sept. 2013 > 116$
8 Sept. 2014 > 465$

30 Nov 2013 > $1199
30 Nov 2014 > ???

Can u please post the data for the following ?

8 Sept. 2012 > ?
8 Sept. 2011 > ?
8 Sept. 2010 > ?
8 Sept. 2009 > ?

Yes so far but why are people dividing in years does measuring bitcoin from jan 1st - December 31st have more relevance vs  july 1st june 30th ?

Only time will tell.


8 Sept. 2012 > 11$
8 Sept. 2011 > 6.53$
8 Sept. 2010 > 0.062$
8 Sept. 2009 > -

"1st time in history bitcoin has dropped"

This is nonsense. BTC has been on $260 on Gox and then dropped back to about $70. It has dropped every year after reaching a new high and it will happen again and again.

2014

Where does that figure - 900 - come from?

So, if we consider the jump on every September 8, we get the following around fig...

2010 -> 2011 => x100 or 10^2
2011 -> 2012 => x2 or 2^1
2012 -> 2013 => x10 or 10^1
2013 -> 2014 => x4 or 2^2

-- Prediction based on same nature of price fluctuation --

2014 -> 2015 => x1 or 10^0, i.e. Around 465$ on September 8, 2015
2015 -> 2016 => x16 or 2^3, i.e. Around 7440$ on September 8, 2016

https://i.imgur.com/FFJ5KSU.png

Draw your own conclusions.

The year isn't over yet.

My warning back in december, lol:


when gordon tells you something, you should listen.  Yes I am the gordon geiko of this forum.

Which technical trader?

Masterluc

Are you sure you don't mean Walter Mitty?

VC's aren't infallible. Some of them make mistakes. It happens all the time.
Draper probably dumped his coins a long time ago.

Wow, at first i wasn´t sure but Xiaoxiao seems 100% mentally challenged.

I appreciate the compliment.   ;D

They're dead and they don't know it yet. Don't even waste the energy telling them -- just watch them fidget around in panic. I am going to amass some money and set a short with a liquidation price above $800. It'll be gold for the grandkids.

You never replied to my earlier post. If you actually believe what you fervently post here - that bitcoin is destined to be worthless in the near future - why bother posting on a bitcoin forum hundreds of times? :)

When Masterluc says $40 he means $400. He is a shark who profits on others money.

Indeed.

I really doubt Bitcoin will see $800 in two months and a half.


But better wait the thing happens, and not consider it done before it is done.

pulled out of his ass like most of the "facts" spread around here.

poor kids. then again, grandpa probably didn't have much to begin with, with such insight :)

You should know that eventually bitcoin will drop and eventually it will rise again. What you should do is to wait and hold.

Probably the 10x increase in value was too fast and now bitcoin have to sleep for some months.

LOL at people saying 2014 is "the year of bitcoin" just lol.... please get the fuck out 2014 is a shit year for bitcoin aka price MATTERS. Bitcoin can't reach its potential until it's over $2-3K/btc

"First time in history"

In the past six months it was the bullish fever effecting a storm of posts and threads about their market sentiment, describing their bullish dreams without any objective reason, consequence: bear market.

I'm not so sure about that the bear market had just stopped now, but last weeks the same disease has infected bearish feeling market participants - a maniac of shouting out all your purely subjective sentiment - let the whole world know what I put out of my ass - reasons are not needed, only audience.

Is it that these shouting bulls and bears have no self confidence and need to compensate it by shouting "their feelings" to whole world?

Another cool thread to bring up a year from now and laugh at all the boat missers, feels good man. How many more boats do you want to miss? Every day under 1K is a great opportunty to obtain a piece of the future.

$800 might be a long way to go but we still dont know. It dropped more or less $40 in just one day. Maybe it will rise twice that amount in just a week.

One cannot decide the fate of a certain thing. It will rise, it will fall, and it will rise again. Its all about faith. Dont blame anyone when you missed the fun.

No one knows what will happen next..  ???

2014 is the year of bitcoin, but not in the way you think it is.

Look at all the new merchants accepting bitcoin.

Dell, Expedia, Newegg, Dish, Paypal, etc.

Just wait a little bit for the commons to realize the impact of this, and you'll see that the price will follow eventually.

Yes, the price will most likely skyrocket in 2015 rather than 2014, but the reasons for the increase have their foundation in the events that happen now.

You see, events and price do not influence each other in real-time. There's a massive delay between them.

Good luck with that.

Yes that is the hope I have and that is why I'm holding on.

But as far as adoption goes, you could argue that 2013 was still better than 2014

Exactly, using January as a reference date is completely arbitrary. Just use continuous year-over-year values.

Tell me when it is down on a yoy basis. I am sure it can happen, but that time is not now.

It's guaranteed to do that sometime in the future.

And it is still dropping until now?

We still have 3.5 months left in 2014.

The title of this thread is a lie.

All this means is that you can buy into the biggest dip of bitcoins history.

Unstable.. Bitcoin is very unstable.. You glance, bitcoin has dropped a dollar. Bad.

First, but not last.

Bitcoin is still going up and down until now..