Bitcoin Forum

That is all.

What is this prediction based on?

Gut feeling.

Many more to come.

Invest now. http://i30.photobucket.com/albums/c303/SiLeNtEuPhOrIa/Counter%20Strike%20Sprays/Hypnosis.gif

+1

It is already here, right after the corner :)
on btc-e for last 3 hours 200k USD buyer is waiting for his coins.

http://i47.tinypic.com/20si1q0.png (http://bitcoin-analytics.com)

notice how it was added in 2 steps by 100k each

LoL, I really hope so. You know how they say..."From your mouth to God's ears"  :D

;)

Of course it is FUD is your friend in this market  ;D

Few more days it will be at $7.. then a couple weeks.. $8

I'm pretty sure that once 7.2 is down 8 will be just around the corner.

Yup, the real resistance/problem is getting to $7 in the first place.
See mtgoxlive to witness the huge blue wall.

FUD?
https://bar.wikipedia.org/wiki/Fud

You mean the huge blue wall that keeps moving up in price?

I doubt this will happen. It will soon return $5 due to speculation imo. The bubble will burst.

I'm pretty sure everyone's said the same thing about $5.00, $5.20, $5.50, $6.00, $6.20, and $6.50.

All we've seen is a slow, steady rise.  I see no immediate reason for that to change just because we hit $7.20, or any other arbitrary number.

Could the end of year reward drop have anything to do with the current rise in price?

That's what I think.

Just hit $7 btw.

Nope. We won't see $5 ever again, count on it.

I increasingly agree. I would have said $4 minimum BTCUSD a few weeks ago, but it seems like there's enough buying pressure even in adverse news situations that the only reason for a significant drop to < $5 BTCUSD would be a 'flash-crash' equivalent that would be so transient as to be meaningless. I wouldn't put falling back to $5 as out of the question, but I'd say my internal odds put it about at 85% of never happening again.

-bgc

I don't think it's unlikely to see $5s again.

It's very unlikely. With the introduction of ASIC mining, the networking power will only quantify the inevitable.

That bear is affecting your judgement ;)

Momentum is definitely gaining.

What mining hardware have to do with prices?

Bitcoin is over if the price ever touches $5 again.

That's what a lot of us were saying on the way down from $32.

Then that's pure stupidity thinking to be honest, it was an obvious bubble waiting to pop. (lots of sudden media attention)

The price of Bitcoin has nothing to do with if Bitcoin is over or not.
It can go to $1 and from there still go to $50000 10 years later.

Its why the value of Bitcoins goes to what it is, that matters.

If its because a FUD campaign which results in panic of uneducated users, Bitcoin will survive.
If its because pricemanipulation, it will survive.

Because there is usefulness in Bitcoin that does not depend on if the price is down to $1 or $10.
Since that price can go up.

If its because a fundamental flaw or another better cryptocurrency gaining over Bitcoin, it might die, since it will be replaced with something better.

Media attention aside, why couldn't this be a bubble?  Or the beginning of another bubble?

Your definition of bitcoin being "over" is different than mine.


At any time a bubble can start, but it has been very stable at $5-$6 totally unlike what was happening during the times BTC was jumping from $10-$30 constantly.

I think we may hit $8 by the end of the week.   ;D

I think we can get to $10 in two weeks, but I think it will crash down to 4-5 by the time OP posted, not sure if that counts

$10 in two weeks? doubt it but maybe. Crash to 4-5? Not a chance. I'll take that bet.

I think if the price moves that fast to $10, then there probably will be a fairly violent crash in the future.  I really don't want to let go of this bear.

If a bubble does happen, the worse case would be that the prices crash back to $6-$7.

Proudhon, please don't get rid of the bear, there aren't enough bears around here.

Yeah, I don't think I can.  The bear has too strong a hold on me right now, and I feel his grip tightening as the price moves higher.  Might sound odd, I know.

I love watching that bear, it wouldn't be the same without it.

You're actions will be rewarded.

:(

Hey, will Wilfred make any difference?  ;D

$7.22
Looks like we are about to set a new 2012 high!

Watch out, many ppl watching this closely with the fingers on the sell button. Coin dump is closing in im affraid.

Does it make sense to sell 1.1k for only $7.12 when tomorrow you can really sell for $7.3 ? :)

ftfy

Makes sense or not, it happened before (in january), so it can happen now as well.

That's okay. Its also the same ppl who watch closely with their finger hovering over the buy button, trying to buy in cheaper than they sold, when it looks like its still going up after all. Its mostly those traders selling-and-buying which drives the price higher. Because they're fighting the trend, they end up with less coins in the end.

Are you going to put a stop this?  ;D

In a way I hope you would as I want more time to acquire cheap coins!

I too think there's an element of "chicken" going on here - "how long will I risk riding this soon to bust rise?".

That said; TizzyTazzy's mind washing technique has proven powerfully effective.

There is nothing to see here.. http://i30.photobucket.com/albums/c303/SiLeNtEuPhOrIa/Counter%20Strike%20Sprays/Hypnosis.gif

http://i30.photobucket.com/albums/c303/SiLeNtEuPhOrIa/Counter%20Strike%20Sprays/Hypnosis.gif

You will buy $15 bitcoins.

So basically just buy at market and deal with it. Right now it is a race to collect the most coins early if the price is going to go up up up.

$8!   ;)

 :D nice job tizzytazzy!

oops

Good call.

I wonder how often these large flash moves correlate with a hack of a major account on Gox? Expect announcement of (insert "bank" "trust" or recent glbse IPO here) lost all your money in 3...2...1....

Ooops  ;) Looks like bitcoin got strengthened since january, nice. Too bad my funds dint make it on time, boo.  >:(

i'm currently regreting my weekend purchases of a couple steam games at 7.45...

Don't feel bad, brah.  You helped prove that BTC is worth at least 7.45 and has room for more value. We can't let these changes in price halt the actual BTC economy.

very good point. though spending makes saving for bigger (mining hardware!) purchases harder... :D

Tizzy,

Any word on the next move?

The next move has to be down.  There's no way prices will stay above $8, and I think the price needs to test the upper $6s before moving up any more over the next several months.

Care to give a rational explanation for this?  Have any fundamentals changed since the rise from $2 to $8?

His stellar record for predictions so far  ;D

http://betsofbitco.in/item?id=500

And we're back below 8.  Now can the next move be up?

Do they have to have changed?

Remember, it hasn't been a straight shot "rise" from $2 to $8. There was a huge rally first, that took us to $7.20 - this then collapsed, and the price fell to $4 before stabilizing at $5 for a few months.

Looking at previous movements, I don't think we're quite due for this big move's correction. But it won't be long - bullish sentiment can only take a rocket so far.

He's actually been very accurate in the past.

Why?

beause  we need a bear

Go to the zoo

Let's just keep going up and never test the bottom! Yeah!

I'll take this as a yes:
http://dl.dropbox.com/u/176027/boom-2012-07-16.png

they dont accept btc yet...  :(

Your next project!

Holy crap. All it takes is for the person bidding on the 25k btc at $8 to decide to buy now instead and we're in the $10s.

I didn't mean the very next move.  But this is going to pop soon.

"Pop" implies bubble... something which you have not proven.  Yes, we may experience a *correction* soon, and the rally will eventually resume. 

Yeah, I hope so.  :'( *prays to the bear god*

Disclaimer: I wanted to buy, but my second money influx missed it.  :'(

fixed for u lol ....j/k

What is your gut telling you now?   ;)

Lol walls like that are super fake. It would be taken down if you actually sold into it for a while.

WTF is a 'super fake wall'...

Plenty of people have {BTC}40,000 and could have sold into him instantly... the owner or owners of that and every wall are risking money.

It's likely controlled by a bot that will remove it instantly if too many coins are sold.

It is my understanding that most of the walls are like that.

Someone MIGHT dump 40K in a sec, but I doubt that highly as that would cost a lot and crash the market while you are trying to sell your coins.


Hence why they are disappearing/moving all the time and why I and many others do not rely on them for analysis.

Yesterday pirate did dump 10s of thousands of coins.

If the wall is standing and I execute a sell order on gox for 40k BTC... my sell order is going through before any bot can issue another command.  The bot cannot jump place in line and pull the wall after I executed an order that would sell through it...

So yeah if someone sold 5k BTC into the wall, the owner of the wall could try and pull it before much more of it gets sold into, but they cant stop the whole thing being instantly sold into.

AFAIK orders can be cancelled while a trade is being executed at MtGox. So, the wall can be cancelled as soon as the price gets dangerously close even if it is just 1 single trade.

I have never tried it myself, but I've asked MtGox's owner about it. :P

This would assume their trade engine isnt fast enough to complete 'my' 40k BTC sell order instantly but it is fast enough to remove depth instantly... this seems wrong.  Why isnt 'my' sell order, which was issued first and was large enough to sell into the entire wall, given priority in the 'trade actions queue'?

I'm really not qualified to talk technicals (that stuff is over my head ;D), but if you want the answers, just ask Mark/MagicalTux.

I just asked him that maybe a few months ago and he confirmed it's possible to withdraw an order while a trade was being executed, and since that time, the order book has lost a lot of its meaning to me, and I assume it hasn't been changed since.

I'd want clarification on this.  He may have meant that if someone happens to withdraw at the exact moment someone else is buying the order will only be partially filled (but in itself this is weird because this should be an atomic operation).  Or maybe he means that the order is publicly posted even though it can be filled right away, giving a trader a tiny time window to pull down a wall.

I doubt he means that a trader has the ability to be forewarned of impending trades and given the opportunity to confirm the trade or cancel his wall -- simply because that would have to be explicitly coded into the API.

Some of you been asking me for another prediction, once I have enough information I will post another at the end of the month.

hey what is this, I called 8 months ago

so far the market has acted EXACTLY as i have predicted

if anyone wants to know what happens next simply refer to the game plan (https://bitcointalk.org/index.php?topic=85687.msg1026305#msg1026305)

lol  ;)

Wanna bet against that game plan? lol