Bitcoin Forum

Retailers are dumping pre-Xmas bitcoin payments. Their action causes a temporary bearish countertrend. The shape of the bull rally has maintained. If you want to treat yourself with some fancy Christmas gift, this is a very good entry point. Rally will jump start again when traders are back this Friday and next Monday.

Earlier this week, the Chinese currency, RMB experienced a sharp depreciation following worse than expected trade data. If this depreciation continues, it will send a signal to wealthy Chinese to convert their RMB into USD. Given the official quota system that only 50K USD can be exchanged per capita per year, the round trip from RMB to bitcoin to USD will become a way better option. This will push the demand of bitcoin significantly. If you want to speculate on bitcoin, don't overlook this important trend.

Tbh 320 wouldnt be worth it... we have xmas.

Let it drop to atleast 300

Merry xmas ;)

Merry Xmas!

320 serves as a resistance and the selling wave has been exhausted. I am afraid we may not go back to $300. Therefore, I give out the call.

Told you guys to buy dip at $320. We will head to north soon.  ;D ;D ;D

Bought 1 BTC today.  Merry Christmas to me!   ;D

ivyleague, go back to Harvard and study up on something else. Your market reading skillz aren't up to par.

Actually, failcoins sock?  :P

I believe the decline is momentarily and it seems to have a correlation with the fx market where it is rather quiet right now. Hopefully once this holiday period is over people would start doing exchanges again using bitcoin as a medium. Not sure if traders will be back by Friday, if not then just wait for Monday.

The vast majority of merchants are going to sell the bitcoin they receive regardless of the season. I am not sure that merchants like overstock (and others that accept bitcoin) have seen that much of an uptick in bitcoin related payments since black friday

Agreed. I'd question it myself... merchants need to keep their stock moving. Their inputs will be in all likelihood bought with fiat so they'll be exchanging it as soon as it is received.

Influence :P waiting for buyer buy dip at $320 and sell your coin --> you rich ::)


LOL ;D

Too early to celebrate,  the teens and lower is where you want your limit buy orders.

The price of bitcoin has been going between 300 and 375 (or maybe 400) since September or so. This is just another swing down towards the 300 level when we will probably see a modest recovery to around 400.

I would predict the price stay in this range until we see some kind of major catalyst (maybe the DPR trial) that will cause the price to break out in either direction

Just buy at any price at this level if you plan to hold your coins for the long term.

Some people wait days for Bitcoin to go down a few bucks before buying.

It's not worth waiting days just to save some bucks.

Yeah I think it's also the best time to buy bitcoin. The price can go up anytime by the end of the year. Just remember that we have been testing previous lows. We already tested $310. If it touches below that then we are going to retest $300. And if we pass that then it's over

First speculation thread that makes some sense. I too think we will head to the moon come new year.

lower prices before this, but only sell and no one buy

You're wrong dude, btc rocket is about to fire off! there will be millions of people buying bitcoin once they learn of this bitcoin bowl. everyone will want one.

Managed to gain 50 local bucks by buying on Xmas and selling today.

Planning to make more by buying in weekend and selling after new year

Price dropped to $314...
It still seems to be a down trend, although gradual.

Exactly. The fact that there are not enough businesses accepting bitcoin for things like inventory and business services essentially forces businesses to sell their bitcoin for fiat so they can pay their suppliers and vendors (and employees)

I have a modest online business that accepts BTC as one of it's payment methods.  In the last year we've had just 5 people pay in BTC (roughly 0.1% of transactions).  Of course being a Bitcoin evangelist I've never converted any of it to fiat (to my cost in fiat terms).  I would like to think that other businesses also choose to stay in BTC rather than fiat so that we can some day trade in BTC or other blockchain based exchange mechanism.

To see the price in fiat go up would to me be a show of strength that fiat is losing value rather than we're all going to the moon just so we can jump ship back into fiat at a later date.  What I've put into this experiment I'm standing by even if the ship sinks (I have some diversity in case of that outcome however...).

I've told many people about Bitcoin, endless hours of going head to head trying to get people to understand what currency/money/assets/commodities or any other name people choose to call it.  Mostly it falls on deaf ears, except...  If I say "there is your wallet, I've given you 5 USD (or some other amount), and it's waiting for you if you put the work in yourself to retrieve it, then suddenly it's a very different outcome.

What I'd like to see is some of the big holders donate a dollar to each of their friends to spread the coin into more hands and increase awareness and usage.  I'd happily donate a percentage of my holdings to friends to get them on board, as it would be service to others *and* service to self - we all win.

The BTC-e price has hovered right around the $310 mark now for a few days and has been testing the 307-308 level but has not punched through it yet.

I would say that if we see a sustained drop below ~$305 then we will likely see the price go down as low as $250, although the chances of that happening seem low because there appears to be a lot of support at this level