Bitcoin Forum

I'm pretty new to bitcoin,  I wonder why we are going up slowly and steady.
Can any bitcoin expert tell me why ? I'm 100% sure there are allot over here in the speculation section.
Thank you.

Welcome to the forum.  I can't say why we are moving up or sideways slowly but it can't be a bad thing at all.  This if anything should do good to attract more people looking to acquire Bitcoins.  There's been lots of good news that I don't think is priced into the value of BTC right now.  This is some interesting times for Bitcoin no matter how the price reacts in the short term.  I think these prices are fair for the time being.

Pushing 10 months going sideways I believe.

Last years' sideways was only 7 months .... :(

Then again, the only reason that broke was because of the mtgox bots ... without them I wonder if we'd have gone sideways/gradual incline right on through to today at $470.

-B-

It's a good thing if it goes up in value slow and steady. If there is a large price increase, even over the course of 2 months, it most likely means a correction back down won't be too far behind. That'd be good for those looking to make a quick buck, but not so good for the overall health of Bitcoin...especially since it's getting into the serious money phase. Imagine if a crash from $4k to $900 happened...that could be a disaster at this stage for the ecosystem and could put a lot of Bitcoin startups out of business.

IMO I think the price is heading back to the $660's level between now and the end of October...it just seemed to gravitate to 666 for some reason...it wants...correction, needs to go back there  >:( .

It depends what you mean by sideways, but the coinmarketcap chart below makes it look like bitcoin's only been hanging around the current price for less than a month.

http://s21.postimg.org/cf949qas7/bitcoinchart.png

This may scare a few of you who bought at this price or higher so you may not want to think about this but I'll throw it in your faces anyway..

The price of a BTC was around $100 when the "mtgox withdraw problems" begun. These problems created a constant 10-20% price gap between emptyGox and the rest of the world.

A few select people got to do what they wrongly called "arbitrage" - they got to withdraw some of what little fiat that was actually at MtGox from MtGox and buy BTC on other exchanges. This created buy pressure on other exchanges. People looked at MtGox and thought "that one must be leading" and "look at all that money in the MtGox orderbook". It turns out that "money" was just numbers on the screen representing long-gone funds.

The interesting questions then: Would BTC have gone from $100 to $1000 without this gigantic MtGox scam? If a BTC really worth more than $100 today?

The answer is no. To both questions.

Yes. Remember the China bubble. For a few months, people in China could legally buy Bitcoin online with yuan and sell it outside China for dollars, bypassing China's exchange controls. That produced a big runup in Bitcoin. Then the People's Bank of China prohibited that. 

If anything, the Mt. Gox debacle scared people away from Bitcoin. The world's biggest Bitcoin exchange turned out to be a crooked operation.         

So willy has been confirmed as fraudulent? News to me and the rest of the world. Just to recap gox accounted for 10% of global volume during the last runup during which most volume and money changing hands was in China - where incidentally the volume remains.

The market has priced btc over 100 dollars for a year and you are arguing it is levitating because of a fraud on a long defunct exchange? Let's see what Mr Market says over the next year. Fundamentals on a relentless onslaught of good news and newsflow suggests that the past will repeat itself once again.

I don't see any steady rise in the last period, but if you consider the last hours then you are right.

Agreed, the price has been bouncing up and down all week. It's only been slowly rising for less than half a day.

people like the 500 border ... ;D nothing like more.
but, low and stable is because people buy ... and miners sell.

if people buy more, miners can not sell more ... so price up.

so :
1) We need more people
2) Wait 2016 to miner pass the 25BTC per 10min to 12,5BTC to 10min (price up)

Over the past months, heroes of entrepreneurship and geniuses of innovation have rendered the bitcoin infrastructure unrecognizable from what it was at the end of last year. News has been relentlessly positive and is just too difficult to keep up with it all. The sheep were pessimistic due the long bear-market, the Fud from China, and the MtGox nastiness. They are still tentative in their buying but we are beginning to see a few dribbles of water seeping through the dam's cracks. This will continue for some time but I think the dam will be gone in the next few weeks as we enter a definite bull market again and more people realize that the good ol' coin is currently grossly undervalued.

Pirate Ragnar

I have a really weird boner right now.

Too much time on the bitcoin waves without wenches can cause a jacktar to get excited over unusual things. Don't worry me matey, such a wave as has never been seen will soon take us to unimaginable prices and bear us safely to port where we shall find riches, rum of the best, and maidens of the lustiest.

Pirate Ragnar

lol

i agree with that pirate guy

i think the trend will reverse soon, although it will probably still take several weeks (like about 7~8 weeks) before we really start seeing results

Pirate Ragnar, my dear chap, in service on the HMBitcoin these 18 months past fighting valiantly against the state, though new in the exotic climes of these forums.
Bitcoin is my sturdiest vessel currently but I also recently obtained a small skiff by name of "the indefatigable Monero"
Jolly pleased to make your aquaintance.

Ragnar

you mean why we are going down periodicity?

we are dropping like $100 - $200 per 2 months

We aren't going up slowly, and definitely not steadily. :)

you still dont learn?
its a trap from the manipulators to make you buy before they do more dumps
it goes on with this until price is $0!

I stand corrected  :D

What if this is true :( ?

If you are worried about random Internet trolling against your trading instrument of choice... Stop trading.

For the life of me I can never understand why people worry about trolls. Didn't you make a decision? I assume you did proper research and didn't over invest? Ok then, let him keep trolling. He is helping weed out the people who are unsure of their positions because they didn't make a properly resolved position. Laugh while the troll makes them sweat, and be glad you don't have to. Hope the troll teaches them a lesson so they can join the ranks of the people who make informed decisions.

I almost made a mistake like that but I realized I didn't want to sweat that much. I still did just fine.

In the last days the price has been stable but the 480$ barrier is hard to break.

I'm guessing you mean why are we going down? Definitely don't seem to be going up at the moment which is a shame as I know there are a lot of us who would love to see it go up and I am one of them :)

Welcome to bitcoin, you'll fit in nice here with the bull-tards who also believe we're "going up" because they can't see further than +/- three days, and have a very difficult time realizing that we've been falling this entire year.

You forgot your signature "final capitulation" thingie :D

Welcome to the forums.

Rule #1) Never listen to exocytosis, Falllling, Fallllllling or Chuckee they are all the same person.

As a side note, we have been going sideways with a slight downhill roll for the past 1/2 a year or so. I do believe this will reverse soon, but honestly no one on these forums really knows where the short term price of bitcoin will be. The question to ask yourself is this: Do you believe that the bitcoin technology will change the world and replace fiat? If so then you already have your hypothesis for long term purchasing power.

I thought that was the idea behind that pic?  Trolls vs Gnomes?

Nice advice, and I noticed that there are many more fallling clones, not only two!

I have absolutely nothing to do with falllling. We roomed together for a semester in college, but that was years ago.

ok our partners have gotten their hands on some 40k new btc from distributed source
will be dumped in the next 72 hours
its not going up slow and steady instead it will go down very fast now but will go back a little after ofcourse
over all still go down all the way!