Bitcoin Forum

Remember when in May I said that there won't be any rally in the next few months? Now, seeing the price going down so much, I am CONFIDENT we won't see anything more than $400 in the next 6-8 months, even more.

Bitcoin is simply not traded anymore. Maybe it's used as currency, I don't know. But trading volume is insanely low.

Nothing, but nothing is gonna happen. Thing is, I know people sell at a loss to get out but that's only going to put even more downward pressure on the price :(

There might not be rallies soon but volume argument is one of the worst you might use for it as the volume in October was the biggest in last 7-8 months.

He means buying volume. That said, I think we are up from, here... more or less.

the end of this year would a explosion

Yep. Whoever is keeping the price down has no reason to stop. On the upside, we can't go much lower from here either.

Basically... more or less  :-\

Well you might be right, but what is 6 months in the big picture? In years and decades? It's nothing really.

The number of transactions is up, but the total amount of the transactions is not.

Bitcoin is going to crash to below $50 in the first few weeks of 2015.

The amount of despair I have seen lately tells me that it is a great time to buy.

I prefer hysteria...but a long period of despair is good too.

No that is not true. There are rallies. and each and every rally that we had for almost the same 6 months was sold off.

I made some good money selling on rallies.

I'm not convinced. At some point the low price will discourage new mining operations from starting, and the price will stabilise. That is a signal for an entry point for people who have been waiting for this downtrend to end before buying in. That said, I don't think we're going over 600 until the next reward halving, but bitcoin is, in general, entirely unpredictable, so who knows.

What if a rally was just waiting for this thread?

we can't?

He didn't say transactions but trading volume and last bottom at 275 had the biggest volume last 6-7 months.

Other than running out of bitcoins to sell.

Less talk.  More buying.  Problem solved.

Rally only comes when you least expected it. The condition for rally is actually quite high as the supply will start going down due to negative profit.

I love these type of threads. If we can see more threads like this, then we can say the time has come. We only need a few more weeks/months.

But you won't see any. Almost everyone still thinks 10,000 per BTC by the end of the year.

Really? Lol.

everytime someone sells, another one buys.


So the buying volume is equal the selling volume.

No idea what you meant

Yes, except most "sellers" don't really have btc but rather they're shorting it! So they need to buy back those bitcoins at some point... That's what will really make this thing rocket upwards

Yes. rockets... I have this magic globe and I can see it too.

i think max we can see this year is 500$ per BTC
even it seems hard now

I don't want to doubt your psychic abilities or to imply that your crystal ball isn't working :P but the trading volume was really high on mid Sept - mid Oct (maybe on a 6 month high). Does "bearwhale slaying" ring any bells?

I am confident we will see more than 400$ in the next 4months and probably before the end of the year, the market is volatile and there is a lot of selling going on but bulls will come back and bid the price up soon

Volume seems to have been going up a lot and prices are still shifting a lot. Definitely still a lot of people trading. I am almost positive that you are incorrect to say that we will not see prices over $400 in the next 6-8 months. That seems like a very unreasonable prediction.

Depends what is your definition of long time. For some it's an overnight for others it is a lifetime. Define your longtime? 6 months? 5 years ? 20 years? 50 years?

This market is volatile enough to see 400+ prices AND still be on a downward trend

i don't think he has got any idea what he is talking about. he is the kind of guy (legendary) who thought bitcoin will never reach $100 a coin back in 2010/2011.

the difference is that some trades are:
- triggered by a buy
- the others are triggered by a sell

i think the first drives the price up and the second does the opposite

Doesn't it usually tank before a huge bubble? you know so they can buy back cheap en masse then sell high etc...

i have a feelign we will surpass 420 within next few days - fingers crossed

For me it seems too predictable to have a rally in november again so it won't happen. Preparing to sell at 370 and buy back lower (even 320 would do it).

Um, my strategy would be different. If 420$ resistance won't be broken within about a week, prepare to buy below 250$.

Correct, 420 resistance will be a very important ceiling I hope we can break. If we only touch 400 then yes I would be very worried... but staying more or less at 350 isn't scary it's predictable.