Bitcoin Forum

sentiment is abysmal, the spec forum is overrun with bearish posts.

Perhaps one last washout when the bear market ends or... Smashes down into double digits? That will be some serious blood on the streets.

Doesn't loo like 200 will be our last stop down at the moment, but it seems perhaps this is a serious juncture in terms of cycle too.

Just writing some thoughts. keep level heads and powder dry!

Double digits won't happen, there are way to many people waiting to buy at such price level.

Market is very unsure, really good news gets very low support while the coinbase news gets Bitcoin from  ~$160 to over $300 in just a short time while it was nothing new and exciting.

The recent spike down and up seemed largely technical in nature rather than news driven to me.

TA and sentiment does indeed seem to be indicating a bottoming out point.

Imagine the pump when the winklevii release the exchange and etf IF the coinbase exchange doubled the price.

No way,  Coinbase pump was done very well..that was all news

too much gravity

look at uno, it doesn't give a shit  ;)

I had to stop selling because i can't get back in lower.
tbqh i stopped to care about bottoms for Bitcoin. I can't see it before the halving.

I doubt we have hit the bottom with two more US marshals auctions left to go.

imo bottom is already there and now it is trading at pivot point of 230$ that supporting it
we hope to see bitcoin again 260-270 next weeks

I personally hope that this is the bottom.
If bitcoin drops down below 150$ then it will really make me cry.
I am fearful of people leaving bitcoin due to price drop and when people leave there is always a drop in demand and thus drop in prices.

Coinbase probably made a few million from such a pump.

It's possible and we and the miners will be in big trouble if it happens, but I don't think it will go that low. I'm hoping for a series of good news that will send the price going the other way and I think we'll get some this year but the question is how long do with have to wait?

Just more miners dropping out. This is good for me, as I am a small scale cloud hasher.

Double digit is not possible. Even a 150 will make a lot of people put tons of money in. the resistance is strong.

you are saying ~55% drop in bitcoin is now impossible?
could you also tell us where did you buy your magic crystal ball?

Its very much possible and has happened.

I agree, the more it gets lower, the higher the resistance. The order book in exchangers will not reflect this but I'm sure, if it suddenly drops to $100, imagine the amount of funds serious buyers are willing to put in to grab the coins.

Over 7000btc is dumped every day to cover mining costs. I dont think bids can take those hits.

exactly, i doubt double digits will happen, im the first one whos waiting for something like that to happen and invest, and i think there are tons of ppl that think the same.
people are starting to think of their investment in terms of 5+years, and they're pretty sure they will make a profit.

short term trading spikes are usually irrational and form a true top or bottom.
bitfinex leveraged shorts are for sure greedy and it is not easy to wipe them out and convert to the long side.

there is no better cure for low prices than lower prices.

where are all those people proclaiming how they are going to buy shitload of coins $200? well maybe they did or were too late but it was not enough to support the price that managed to fall to ~$150.

there is a bitcoin hard fork ahead of us and its popularity is not very high.
in other thread people laughed me off as this little gavin project, a bitcoin hardfork, is certainly below the radar and has miniscule impact on prices but we are getting closer to that day with every week and i just can't see a true rally until this is resolved.
some people might put off buying millions just to be sure bitcoin is not fucked and everything went alright y know

i expect the price to oscillate around these levels but who knows what black swan might happen.

i converted 1/4 of my btc i bought @$160 to altcoins already.
the altcoin scene is in better shape than ever - if you are a contrarian
the church of satoshi members might start to see the value in other forks and not just in gavincoin

well we already hit the bottom, remember the sub 200? that's the bottom, expecting double digit is stupid, not gonna happen, unless some major thing will destroy btc in some way

yes it is stupid but thinking it can't go lower than that and still 'recover not being destroyed at all and stronger than ever' is also stupid.

Didn't we already hit bottom twice ? The first at 275$ level, and the second at 152$ level .
A new bottom would be questionable for now and unlikely to happen.

Making up facts is fun isn't it?

do you have any proof like an article or something? because if not you just wrote various numbers didnt you?

Good point. Coinbase's recent advertising:

http://dcmagnates.com/wp-content/uploads/2015/01/countdown.png
To the moon!" This will be embarrassing to Coinbase in front of a judge and jury. (http://tripplevy.com/news/coinbase-inc-investigation-of-licensure-of-coinbases-bitcoin-exchange/)

Here's how the SEC defines a "pump and dump":

“Pump-and-dump” schemes involve the touting of a company’s stock (typically small, so-called “microcap” companies) through false and misleading statements to the marketplace. These false claims could be made on social media such as Facebook and Twitter, as well as on bulletin boards and chat rooms. Pump-and-dump schemes often occur on the Internet where it is common to see messages posted that urge readers to buy a stock quickly or to sell before the price goes down, or a telemarketer will call using the same sort of pitch. Often the promoters will claim to have “inside” information about an impending development or to use an “infallible” combination of economic and stock market data to pick stocks. In reality, they may be company insiders or paid promoters who stand to gain by selling their shares after the stock price is “pumped” up by the buying frenzy they create. Once these fraudsters “dump” their shares and stop hyping the stock, the price typically falls, and investors lose their money.

Sound familiar?

Getting venture capital and opening a US-based Bitcoin exchange is fine. Coinbase seems determined to promote it wrong. The "to the moon" hype, the false claims of being licensed and regulated, and the free trading to get volume are all bad signs.

yea.  i think either his math is a bit off, or just clueless.

something like  a hardfork without consensus? Will you support Gavincoin? I for one will use litecoin and other coins instead of bitcoin later because i'm only a little man with a normal internet connection and only 500GB harddrive.

I can back this, at least 3 of my friends /colleagues whom i have talked about bitcoin were saying (=laymen, not at all familiar with the technicality, future prospects of the tech) that below 100 $ they want to buy a coin, just for the "who knows what" prospect.

And this is only my non "bitcoin trained" personal circle, who wants to get in based on mostly negative MSM reports. I can see millions of layman asking a bitcoin knowing friend to buy them some if/when/at below 100$, so double digits could not hold for a sec.

If it did go to double digits it would cause problems with miners shutting down.

Except the fact that BTC is not a "company stock" for Coinbase, they have not promised anything in a written contract (pictures of a rocket, space, and the Moon does not constitute as far as i know), social media has no special law requirements compared to a man screaming in the street (they are the same in the face of law), BTC is not even a stock, so stock market regulation can not apply. And a thousand other legal and logical problems with the above sentiment by SEC (which is alos an USA only institute and can not deal with a global phenomenon as it is).

Simple fact of the matter is, there is no real bottom: The only bottom is when the movers decide otherwise.

It could be 100, 50, or 1 or 10 cents.

There is nothing real holding up the prices and market isn't moving anywhere but down, it's only a matter of time.

Lol@thinking that anything below the previous $150 bottom is illogical.  

There is no 'law' stating what btc's market should be.  It's simply supply vs demand + investor sentiment.  Hitting single digits isn't any more out of the question than being at double or triple digits....and at this point all 3 are equally possible.    It's anybody's guess.

You think the likelihood of hitting single digits is the same as being at triple digits  ???

Chances of being at triple digits is 100% (we're there) so your basically stating that with 100% certainty we will hit single digits.

I'm speaking in terms of the future, Einstein. The chances of being at single or double digits is just about as probable as it is being in the triple digits a year from now.

It really isn't but your free to think what you like.

Oh, I get it.  Your crystal ball is cooler than all others.

Now tell me what next Sunday's winning Powerbucks lotto numbers are.

No one can predict whether there is a bottom or not or whether it sinks to double or go up to four digits

the below chart is what keeps me up at night........then again...if bitcoin survives....'cheap coin' if not
well having all these btc and alts in my elder years is more tidy then 'collecting cats'

http://4.bp.blogspot.com/_asfsjYTq4Tg/TH9NV1nrhuI/AAAAAAAAARQ/wDPG5gpjjRI/s1600/boombust.jpg




flip a coin time.......we are dealing with a bunch of silly hairless primates on all this ...and they do and always will like to throw 'poo'. :)

You're free to think what you like.

Indeed, which is why I posted what I posted...as you also did yourself. 

Back in the days of $1200 coins, I recall most posters saying "sub 1000 won't happen, there are way too many people waiting to buy at such price level".

This phrase was repeated all the way down to where we are now: "sub 700 won't happen", "sub 600 won't happen", etc.


Try googling the word "sentiment". You might learn a thing or two.


Double and single digits will happen, btw. They'll happen in 2015. And price won't magically rebound. It'll stay low for the rest of Bitcoin's history, reflecting the true value of this blockchain experiment.

Actually I use your posts as a reverse indicator to make money. How's that for sentiment?

Good for you. Then I guess you should buy all those "cheap coins" right now? 3600 new "cheap coins" are created every day. Please gobble them all up. Take up some more loans to finance your gambling habit, leaving you even deeper in the red.

Is somebody talking?

its hard to reach, once done its ntng

I can with certainty predict it's not going to 4 digits within the next 14 months - 100% certain

Quoted so I can later rub your fat buddah nose it it if it does  ;)

LOL - yes, please.

Mister Satoshi Einstein invented gravity in 2009, and it has plagued us ever since.

Bottom is as low as people want to risk it to try to invest as low as possible (you can miss the train if you wait too much)

Train missing is FOMO talk. There are always more opportunities.

what train? The ghost train? Are you still FOMOing? You need lobotomy.

http://www.joylandbooks.com/themagiceye/images/follyfarmhghosttrain.jpg
Quick, quick buy before you miss the ghosttrain!

Well, last night's low was $208.  Around $220-$225 now.

As I point out occasionally, the two Bitcoin bubbles were driven by external illegal use cases - Silk Road drugs, and China exchange controls evasion.  Both of those holes have now been plugged.  Without a new use case that provides a similar boost, there's no reason for Bitcoin to have a value much higher than it had before the Silk Road bubble. 

Interesting points, I think you could certainly be on to something.

We'll have a very long period at 120-220 territory imo.

Either that or this thing could be on the move to 300 before we know it, nobody knows. Some say we've bottomed while others think we have more room to move. One thing is for sure, somebody is gonna get played coming up here. Place your bets.

Now and in a long time the bottom will be $200, let the whale to eat enough bitcoins, and then the price can pump

why do you say that?   it's actually quite reasonable. 

despite inflation of 10% i can see btc price rise steady 10-25% per year for the next 10 years..

and btw nothing wrong with that!  let's not be greedy children.

I won't say double digits will not happen, even though I dont expect it to happen

but neither did I expect sub 300 levels.

If double digits will happen though I will probably buy as many as i can.

..and what about trader bots Willy and Markus on MTGox?

Ya reckon 800'000 BTC worth of fraudulent 'bullish' Bitcoin trades didn't have a huge impact on the market and the price action, especially back when MtGox accounted for over 90% of all Bitcoin trades.

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That aside, I have to shake my head in disbelief at the "double digit coin can't ever happen' brigade. As exocytosis points out, such drivvle has been proclaimed on these forums all the way down for $1200 Bitcoin.

Going way way back, I always suspected that Bitcoin would bottom out somewhere in $200 range (I have been proven wrong on that already) and this was the price point that I was going to bet the house on Bitcoin. Yet here we are, right in that lower $200 range, and am I piling every spare ounce of cash I can get my hands on into Bitcoin? No! And why not? Because in the fullness of time, Bitcoin will go lower than $200, and lower than $150, and possibly lower than $100, and when the bottom is finally in, it will take a very long time for the price of Bitcoin to recover.