Bitcoin Forum

DOW Up = Gold Down = BTC Down


What will happen when stocks which are peaking crashes..  ::)

Hint:

http://en.es-static.us/upl/2012/07/harvest_moon_lake-e1348770140423.jpeg

you are bullish??

DOW Up = Gold Down = BTC Down


What will happen when stocks which are peaking crashes..  ::)

Hint:

http://en.es-static.us/upl/2012/07/harvest_moon_lake-e1348770140423.jpeg

I think we'll mostly trade in the 250-350 range for a couple of weeks or so.

I think we'll mostly trade in the 250-350 range for a couple of weeks or so.

A crashing market will probably not influence Bitcoin much. Most investors in broad market funds like the DOW are risk averse, or at least have an investment strategy that allows for 1-5% max on risky investments. Their idea of risky includes precious metals. The majority aren't going to be panicking into Bitcoin, and those that do will likely allocate small percentages of their portfolio. An unstable financial system certainly has different implications for Bitcoin.

Anyway, back to topic, I think we'll see range bound trading for the next couple months before we continue on our logarithmic climb. So a bit of North and South for a while. I do think $275 was the bottom.

I haven't been around for a few weeks. Did your troll ego switch from "Bitcoin is d00med!!!" to "maybe things will just be ok."

I've never been a troll. I've been right as well as wrong about price development, but no one here knows exactly what will happen to BTC price in the near or far future. Personally, I think triple digit prices will hold for quite a while. But eventually they'll give in to the massive sell pressure, pushing us into the double digit abyss, where Bitcoin might belong in this post-Gox, post-delusion phase.

Just dropped down again to $355 range - anyone else here expecting some sort of rebound $365-370?

Sub 300 coming by Sunday. Sub 250 by Wednesday, then brief dead cat bounce to 300ish prices.

Back in the day, bitcoin fell from roughly $30 to $2 and everyone thought it was the end.  The drops we're having these days are nothing in comparison.  Hypothetically speaking, we could go down to $50 and still be ok... but miners would not be ok. 

The exit of miners and and declining bitcoin prices go hand in hand.  As the price declines, miners with heavily invested operations need to liquidate coins to pay for their expenses, which thereby leads to more price decline. 

The price is also strongly tied to news/opinion.  We just had BTC Trader and Moolah steal a bunch of bitcoins.  Any time an exchange goes bust or a big scam happens, the price tanks.  These are like 'mini-goxes' as I like to call them.  I think the ultimate test will be when the US government attempts to liquidate the 144k bitcoins they confiscated from Silk Road ownership.  Until that happens, there will always be that dark cloud looming overhead with the possibility that they could dump the coins.  We won't skyrocket until that scenario is eliminated.

Overall, I think we need some consistent positive news for a consistent rise in prices.  When we were going up before, we had consistent positive news.  These days, it's like any good news is quickly overshadowed by regulations, scams, thefts, etc. 

We have a long ways to go before we can go back to the 'rise and rise' similar to pre-Gox and pre-Silk Road closure. 

Boo, thinking lower for a bit :/

I don't know about time period specific predictions, but the best predictive indicator is order book volume.  I've been using this as an indicator in both stocks and bitcoin with much success.

The bid support on a downward trend or the ask support on an upward trend both indicate support levels for price.  The formula of volume on the bid vs. ask based on MACD and RSI indicators will pretty much give you the exact price range and predict the movement.  It's a piece of cake really.

Mark my post, we will see $320 within the week.  If we happen to go back up, we'll see $345-$355 at most, $360 if we're lucky.  Give or take a few dollars, but $300 level is not far off, and as I've said before, we will test $275 within the next month or so.  

Buy when people panic, sell when they get comfortable hoping for the next moon visit.

Overall, the way the prices are moving lately seem highly suspect/manipulated, IMO.  Not manipulated in the sense that there's some conspiracy theory, but in the sense that there are major players getting involved, or early adopters cashing out, or pretending to.  While we do need to consolidate from last year's meteoric rise, the drops seem too calculated, almost like the washing out of weak hands.