Bitcoin Forum

wots the reason for this i know its based on the capitol controls in china but this is madness eny news i dont no about ? ? ?

Did you see this:

https://www.btcc.com/news/article/btcc-now-accepting-direct-bank-deposits

BTCC Now Accepting Direct Bank Deposits
Nov 02, 2015

Recent bitcoin price increases have reignited enthusiasm in buying bitcoin. BTCC is confident this trend will continue. As such, we are pleased to announce that we now accept direct deposits.
 
Customers now need only log in, click on “Account,” then “Fund,” and then select the “Bank Deposit” option to fund their BTCC accounts through their bank accounts. All customers who have Chinese bank accounts will be able to make direct deposits through ATM transfers or online banking.
 
BTCC will stop accepting customer deposits through agents on November 15.

Bitcoin was heavily undervalued.  1 billion invested in infrastructure.  Only 3 billion market cap?  You do the math.  It was bound to explode.

Exactly!

so wot does this mean then china can trade freely with the rest of the world for the not so average joe without being restricted by paypal, mastercard ?? this is an exchange in china yes

Blockchain is on a verge to go mainstream, enjoy the ride!

self feeding, there need be no real reason behind a bubble, only that there are people that do not want to miss out, and holders that will only exit much higher. New entries for cash, a pop in price, a panic buyer, an optimistic holder = bubble insanity

You don't need to be scared, next stop is 1000$. People wait for this time in 2 years. Now what a time to be alive!

It's all moving too fast and definitely looks like a bubble not as steady growth. It will burst eventually, but I hope the new low will settle above $350.

Or maybe I'm just butthurt for selling at ~430 and chances of buying back at 414 look rather pale.


Most mainstream mentions of 'blockchain' (or 'blockchain technology) don't involve Bitcoin.

its exploding right now how know on what price will be held cuz price change every minute

It looks very much like a bubble right now. There were no big news that could justify such gigantic price spike

I fully agree it is undervalued when considering not only the market cap but the entire ECO system surrounding BTC. FACEBOOK is massively overvalued at 200 billion. Its use is limited and it wont last 20 years. Bitcoin will still be around in 20 years and its value will far exceed anything Facebook ever achieved.

More people are buying than there are selling. Er, that's about it. If there'd been a rise another time there would've been good news somewhere to pin that on too. Good news is a remote player at best. Only bad news gets the job done.

how so?

did you look around recently

https://bitcointalk.org/index.php?topic=1220428.0

this one alone can be the reason, no need to add the other

there is not much sense to talk about a bubble when the price was very shitty before

But no one will buy at $500 because who spends $500 on a coin really?

/s

What's the most secure blockchain out there?  :o Mhhhm, Bitcoin.

China controls the btc price, bad news instant crash good news instant pump. Or so it seems.

The same people who bought at 1100, 1000, 900, 800, 700, ect. 500 is still a great buy if we are going back to at least our ATH

In 2013, the all time high (£1200) was 24 times of the price before the jump. The bitcoin was around $220 before the jump. The new ATH could be $5000 this time.

I have a crazy theory that this has something to do with the ratio between supply and demand.  ;D

One day people have to accept that buying a whole Bitcoin will be very hard and incredibly expensive.I mean who is able to buy a whole bullion of gold just that easy?!
People will have to buy mBTC and later even smaller units.

I think also that this day will come. As the price rises, we will have to learn how to operate in satoshis and honestly, people will not even notice a difference.

Maybe us, older users and early adopters will find this very nostalgic, the use of whole bitcoins but I am sure even we will get over this! :)

I think this time price will go all time high and will be on permanent basis not like 2013.Now Bitcoin is more solid and well recognised and has large adoption which is constantly growing.In couple of days we will see price stable over 500 $.

if we can manage to stay above the $1000 price level for a very long time, then we know it's real. if we go over $1000 and one week later it goes down to $800-$600 it's another fake pump.

I think this was another fake pump.  probably end up below 400 today

Certainly looking that way. What a ride !

What's your definition of fake?

Technically closed 'blockchain' network, accessible only to interested parties (i.e. banks, to manage interbank transactions only) would be much safer. Remember that all those high profile institutions interested in 'blockchain technology' have other goals in mind than decentralisation, trustlessness, open source etc.


Possible, I wouldn't mind if it took a short dip under 400 overnight. But we're still in up-trend.

I am with you on that one. I was expecting mostly $350 as the peak of the last wave. We got till $500 in no time. That is, first, not sustainable at this pace any longer. Second, from the fundamental perspective there is nothing really significant happening recently to back this growth. Purely speculative, based on unproven volume data from China. So be it. let's see where the correction stops.


 

And, as expected, we're already in the 380 range (by CMC). Hope the casual traders are more thick-skinned now than in the past and they don't start panicking.

Anyhow, I bought back what I sold @430, so I call it a good day.

Reality seems to have set in for a bit, dropped back under $400 (hit $370ish briefly on Coinbase) before it rebounded some.

 Gotta wonder when the next reality check and how big it will be.

yeah reality hit badly. Was on 368 on stamp and now is closing on to 382. Doesn't look like we will make it back up to 500. Some large player probably cashed out at the right time, causing the other holders to suffer

exactly my point.

it would be great but think that time wont be like this
4 digits price will be great for all of us to see so 1000 would be fine
bold to place 5k in this game

Looks like it's back into a slow sink, each roller-coaster peak and valley gets lower.

 Dunno if it will get back down to $250, but looks like we won't be seeing $500 this year.


 I do wish I'd waited a day or so to cash out what I had on hand, made a fair bit but it could have been more....

Wasn't the price high yesterday as there was a Silk road auction? It's down today and one user predicted this as well.

The auction is later on today - this small sell off is just taking some of the pressure out of the rally - a dose of reality is a good thing - the slower the rally the more sustainable it becomes

When the price reached $500 I was hoping it wouldn't go below $400 anymore the comming weeks. Now it did go below $400 it's just waiting and hoping we'll not go sub $300 again.

I think there is a big defference between demand and a pump.  Clearly when you have price going up AND down within 24 hours there is no demand causing the variations, its being pumped and dumped.

Yes I know but that was the reason given yesterday that the auction will be held on 5th November and hence the price is rising. I now believe it.

Edit: Just read this article: https://www.cryptocoinsnews.com/bitcoin-surges-us-marshalls-hold-final-silk-road-auction/

Just a reminder that a little over a week ago everyone was surprised and happy that the price reached $300. Now everyone's complaining that it took a dip below $400. Come on, this is Bitcoin, it's not called 'volatile' for no reason.

We were on long down-trend, then relatively long period of quite stable (boring) price of around $230. If it stabilise now anywhere above $300, that's a great news.

It's in people's nature to complain. As long as we maintain to stay just over $300 then I'm already fine with that. Only time will tell what will happen next. A stable period or another bull run. We'll have to wait to figure out.

The price is stable around $360-390, so the situation is similar to the $230 level. It bodes well for the future price performance.

The price now is stable but it can be even more better if the price stays only 400+

you need another pump+ correction price for that, the market cannot move in a up trend indefinitely, there must some stop here and there, to prevent big dump afterward

It's a bit too soon to call this a stable price. I hope you're right. For me, any stability above $300 is good.

When it comes to Bitcoin, there is no such a thing as stability. People might not consider 3-4% price swings in a day to be a lot, but look at what your wealth looks like when you have millions and it goes up and down like that. 4% is of 2 million is a 2 year salary for good earning people that they gain or lose each day.

All true, but stability can mean different things for different assets/currencies. Generally, in the Bitcoin world, the word 'stability' is used to describe longer period of (relatively) low volatility.

Also, if you have $1 billion invested in certain stock, the movement of 0.1% equals gain/loss of $1 million, but you still wouldn't call that volatile or wild swing.

The price is drifting around $330 now. So the mini bubble has burst. It is good for the sustained price rise in the future.

It may have burst, but it seems to have consolidated around 100 usd above the pre pump price.

Not too bad imo, especially if you remember that this 100 usd is almost 50% increase in value.

Only if you hold your coins. I know people sell at %10 increase then buy back at 450-500$, then sell again at 300$. :D

Trading bitcoin is quite difficult. We cannot always buy at the bottom and sell at the top. Some times, we buy high and sell low.

The price has come down since the OP. It is quite stable around $320. There is no flash crash of the price.

The price has risen a bit to $420 now. The price is less volatile than a few month ago. It might rise slowly in the near future.

it would be great if the price could come back i really wait for increases

The price is as volatile as it has always been. The level of volatility will only increase as we are comming closer to the block halving.

Price is more volatile during november and december now i think it will not go sharp up or down like nov last year. We may see small pump near halving and with all of the good support at 400 i think the new buttom will be 500 near halving.

The pump near the halving will  not be a small one. It will be a big one as bitcoin becomes more popular. So the pump can be 3-4 folds.

$500 near halving is quite conservative. I think the price will be well over $500. It could be between 700-1000.

Yes i think it is because of china, when price of bitcoin is so high don't be suprised but be happy, you won't see thathigh price other days

Also price now is alot smaller, 453$ and i don't know why it droped, but i hope that it will rise again

It is a bit low indeed. But dont worry. It will rise soon and that will be very good. I hope that it will rise for a long time.
And we all know that the halving is also coming so that will be very good. But it can also be down but lets hope for not.

It will rise not because of halving, just of the backing technology  which has provided bitcoin a natural growth with certain ups and downs in price at some predicted intervals.

I think it has proven that it does not need the halving to rise to this amount, it has been at a steady growth and has been at $416 and has not gone down for the last week. Has been going up on bitfinex to $433 tonight so it is on it's way there in the next month which is a few months before this halving.

Markets are predictive, not reactionary.  It has gone up from $200 to $400 because people KNOW the halving is coming.  If demand really does outstrip supply once the "buy the rumor, sell the news" crowd has liquidated for profit, things could get interesting.

Any gauge of when halving will go down,speculating I know but would be interested to see what people think.
Like do I have to end of summer or before that time?

Ah, so the rumor mill caused this double spike up in price since this time last year. Thought it was actually the fact of halving was going to have on bitcoin as a whole was being considered for it's increase when it does happen.
If more people want to buy without bitcoin available that would be Armageddon.

It is fact.  Don't take my "rumor" comment as saying the block reward isn't halving.  It is a wall street saying.  It basically means when something positive it going to occur, you buy beforehand and cash in profits when the event occurs.  However, it is very likely the Bitcoin price will continue to rise for many reasons.

Its not that high now. Because the value is rising slowly and that is very good. And we just have to wait and see for what is going to happen.
So we need patience. And that is very important. The halving is also coming so I hope that it will more rise after that. But you never know....

If the price of bitcoin rises 30-50% a year, I am very happy. Too much pump and dump is bad for its usage.

The stability of the bitcoin price will make it more useful to the business. A business will not keep bitcoin if the price changes 10% a day.

How has BTC volatility affected your business? (And why didn't you investigate the existence of tools to hedge against volatility, the same type of tools people use when transacting with multiple fiat currencies?)

It will be very nice if the value is going to rise in the future, and that can be very good for the people who already have some Bitcoin, so that is perfect for them.
But some people dont have either patience and that can be bad for them if they are selling too early.

selling too early didn't mean not patience because you don't know when you'll need a money for paying something,and bitcoin was created for become a cryptocurrency,buy-sell activites not for holding

I know bitcoin is not a stock and all that. But with other assets, when there is a well known event that might affect price, price is already affected many months before the event comes. Halving is near enough to be reflected in price, but it does not seem to be affected it yet. That is somewhat strange.

I see last year's rise - after an extended period at $200-$300 - as part of the second halving being "priced in".

That was about one year away. I think the market will not respond to the halving so early. That was just the rise due to adoption.

Well, eight months (the rise was early November; the block reward reduction is likely to be early July at the latest). Would it blow your mind if I told you I believe the current price reflects not just the 2013 and 2016 block reward reductions, but 2020 (and subsequent halvings) too?

What makes you say the November rise was "just" due to adoption (or have I misunderstood you)? I certainly think adoption played its part (along with the relaxation of its then-latest "ban" on BTC by the PBoC) but I don't see that as mutually exclusive.

Yes, it would blow my mind.
Markets (especially crypto) are not that efficient.

They don't need to be. You don't need to (and I don't) fully accept the Efficient Market Hypothesis to believe that a known event will be reflected in the price in advance.

It seems that the price is slowly but surely going up. For those that have Bitcoins this is a good thing because you can sell them soon. This is not the time to be being in my opinion. 

Markets become efficient when user profiles increase. Now compared to other forms of market hypes bitcoin has its circulation keep on increasing which is good for a stable growth.

A straight indicator that markets are not efficient - substantial differences in prices across various bitcoin exchanges. We can see this decreasing only over a period of time.

You're both talking in absolutes - markets don't "become efficient", they become more efficient. Perfectly efficient markets are hypothetical only.

Right now the USD and CNY exchanges are all at $416, but assuming there was a substantial difference between, say, the USD exchanges and the CNY exchanges (as there has been in very recent history) then arbitrage would efficiently address that. The price difference would reduce until it reached the cost of arbitrage.

The price is going up slowly but surely. I am sure that we are going to hit $500 any time soon. I hope that it will go higher so we can make more money. We will have to wait and see what is going to happen.

The price is going up slowly but surely. I predict that the price is going to hit $500 any time soon. I hope that it will reach higher so people can make more money. But it will be harder for people that want top buy coins.

yeah for sure the price had increased compared to last week, don't get scared and bored of slow increase, we are going to meet a high price rice during halving. don't be upset wait for few more days you can earn more money.

The price is now indeed rising slowly and that is quite nice for the people who are waiting for a price increase so they can sell it in the future with some good profit.
It will be really nice if we can reach that value, and that makes also many people happy.

$486 should be reachable in two months time. The price has been consolidated for 4 months now, the next step is to go up to $500.

I forgot that the price was ever this high only 5 months ago. Thinking it was around $250 at most around that time. How the times change so quickly in the bitcoin world. Just can't believe it was higher than what it is now at that time. So that does make the outlook of $500 soon so much more possible now since it was that close only half a year ago.

Should be in the $600 zone by the time halving does happen..

After that I cant even imagine the prices, I`ll be mind blown if we go close to high $800 zone.

I expect we'll be at $475 roughly a month before the halving, then it will be volatile from there.

I would be extremely surprised if we hit $800 after the halving, but I wouldn't mind it at all. Might as well get hyped, see if we can generate value that way. I don't think we can do much else before then.

That prediction could be true. The bitcoin price is $469 now, it is just $6 away from the $475 predicted.

This is a long back thread created during the end of last December when bitcoin moved towards $486. Now it has suited well for the recent days increase in price which is soon gonna touch $500.

could? i am fairly sure that we'll hit that price before the end of this week. a tiny bump from a whale brings us there within a second.

What a madness bitcoin price after long time of accumulation is growing,but it has to pass 520$ breaktrough level to goes 650$

I think the bitcoin price could reach $520 in middle or later May. It could reach $650 in later June or early July.

We only have 5 days to the middle of May. It seems the price is still stuck at the $460. It will not be over $500.

The $500 price is for the reach in June or early July. If the price rises too fast, it will also drop very fast.

We need another event like that to happen. Perhaps one major exchange will increase the ease of funding, perhaps.

Or more awareness of bitcoin in the general public. Most of the people don't even know that BTC exists.

There are now a lot of people that is happy because of the value and that is because more people have not also the possibility to make profit soon and that is nice.
We all waited a long time until the value will be more and that is perfect for us.

The people who sold short when the price was $450 will not be so happy. No more than 50% of the trader will be happy.

For the bitcoin trading, it is better to buy the bitcoin for the long term. Sell short only when there is a big bubble.

That is right. I used some bitcoin when the price was $675, thinking it was very high. The price is $746 now.

Never mind, the bitcoin is $670 now again. I think the price will around the $640 to $740 for the next few months.

There is such a possibility. I think the resent price rose too quickly. It needs some consolidation like it did 6 months ago.

That is the reason why I do not like big pump and dump. Slow but steady bitcoin price rise is preferred.

In the future, when the bitcoin becomes more mature and price is higher, it is going to be more stable.

The bitcoin market cap is just $10 billion at the moment, it is smaller than most companies, it is easy to manipulate.

yes that is a fact and there is no doubt about this but the problems is that where will the present down fall stop, at what stage the people start buying again. by the way my personal view is that the present price of bitcoin is ok to buy it. because i do no think that the price of bitcoin will ever go lower than 550$, therefore it is a good opportunity to buy bitcoin in the present position.

well it is just a guess, it might be even more volatile as more people will be pumping and dumping, in my opinion the price is not going to go to lower than 550 prices

Apart from the Bitfinex hack caused price dump, the bitcoin price has been quite stable in the last two months.

I think the current price is quite good to buy. The bitcoin price will rise soon after people forget about the hack.

The bitcoin price is in the consolidation stage after the recent price drop and recover. When this stage finishes, the price will rise again.

I expected the previous consolidation stage makes the bitcoin to rise high but it broke and falled down to $530 and now has recovered better. I believe this consolidation stage makes the price to increase sharply.

The bitcoin price is consolidating around $590 at the moment. After a few more months of consolidation, the price could rise 50%.

What makes you think the price goes up with 50%?
This is stupid investment advice and no you are in no way to qualified to make such, as the most you can do is to state it as your personal opinion...
As for consolidation no the price is looking for a new resisting point that can be over or lower the current price point.

of course it is low enough to buy right now, after it the price is going to grow only

As long as there is no problem associated with the bitcoin itself, more and more business will use the bitcoin.

There might not be true. Other coins are developing fast, for example, the Ethereum can do smart contract and trasnaciton is very fast. If the bitcoin does not catch up, it will not be used.

That is my concern as well. For the time being, I have some investment in digital coin, mostly in Bitcoin. I might have to divest.

Why was this threaded bumped to the top of the Speculation section and why is it remaining on the first page?

thats true, more and more companies get into bitcoins right now and it definitely makes bitcoin an even bigger currency, i hope it will continue like that