Bitcoin Forum

It took just four hours back in June 2011 for the price to rocket from 27 to the still-standing record price of $31.90/BTC:

http://we.lovebitco.in/images/mtgoxrecord.png


Guess what, the price is 27.4 again, the highest Bitcoin has been for it's entire history except for a few fleeting hours on that June 9. We are one button-click away from a new record price!

Will it happen?  ???

Ironically, I got a "502 Bad Gateway" error when voting for the poll. I guess my option of choice is justified.

I'd buy, but I'm out of USD. :(

Interesting times.

There's a lot more ask depth these days, though - I doubt it will be a straight shot from 27 to 32 this time around.

you and all of the other irrational bulls. ready for the squeeeeeze

I'd say 3-4 months

10 days  ;D

https://i.imgur.com/prORgNV.png
Ignore the scale, was just a copy and paste job in paint

I'll raise you with a chart with a less "narrow" view. Increase the timespan a bit and compare to an economic bubble chart:
http://bitcoincharts.com/charts/chart.png?width=940.1666660000001&m=mtgoxUSD&SubmitButton=Draw&r=360&i=&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=EMA&m1=365&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=1&cv=0&ps=0&l=0&p=0&
http://www.novalytica.com/estonomics/macro/bubble2.jpg

I think we might drop down to 8-10, but might rebound and stay around 16-18 USD/BTC. But this last statement doesn't have a lot of research in it. Just a guess on what prices could reach after the bubble pops.

Dude, why are you so mad that you sold too early while the rest of us didn't?

Anyways, I put maybe by the end of the month because it's really hard to tell.  On one hand, we're so flippin' close but, on the other, it's very clear that no one is quite sure what will happen as good news continues to poor in and an unknown number of new buyers are entering the market.  It's also hard to tell what psychological implications are to be had at $30 (if any).  I really thought we'd be stuck at $20 for much longer.

So, in conclusion, I dunno. Maybe?

Single digits here we come!!  the correction is near...  WHEEE!!

No such thing, unless you know of a BTC exchange that supports margin trading. (In which case, being out of USD wouldn't be keeping theymos from buying!)

I think coinbase is driving up most of this and they are out of coins atm. There are other ways to get dollars into the market, but they are not as convenient or cheap. I'll have to wait.

off topic, but is there any idea who/what caused the major dip couple of days ago?

I wish.  I'm now kicking myself for deciding not to buy more at $14.

Bitcoinica.

Seriously, there is icbit.se (http://icbit.se).

chart is really lookin like a bubble.
but nobody knows when the bubble pops :) maybe at 30 USD, maybe at 100 USD, 1000 USD??

bitfinex.com (http://bitfinex.com)

If you believe that it's a bubble, and you still buy more in the hopes that you can sell to the next sucker for more, you deserve whatever outcome that you get.

Most participants in a bubble win something. It's just those left holding the bag that get burned.

i sold when the price hit a specific price-point beyond which the risk of holding btc was greater than i was comfortable with. everyone can't be rich. are you that confident in your skills at musical chairs? when this bubble finally does pop, i'm sure there will be people with gains smaller than mine who continued to hold past when i sold.

I've seen several posts about this in this thread:
https://bitcointalk.org/index.php?topic=101081

The linked thread could do with trustworthy people in it again, as much as is ever the case around here :¬P I'd like to make sure it's kept up to date.

you don't need leverage for a squeeze to happen, leveraging just magnifies the effect. follow me here: "Everyone can't get rich". this is a zero-sum game. if everyone is out of usd, the price will stall and someone will get spooked. some profit-taking will happen and the coins will move to 'stronger' hands. unless the buying pressure is strong, the price will settle at a lower point. long squeeze.

My impression was that "squeeze" specifically meant the effect of margin positions getting liquidated by a big move, necessitating market action by the margin lenders to recover their principal, leading to a multiplication of the move.

It seems I was mistaken!

no thats pretty much right. im just saying the same effect where a positive feedback loop causes the multiplication of a move due to traders being forced to cover their positions (automatically or voluntarily) can happen without leverage.

I agree :)  this trends keep up for some time, and did'nt broke even after some serious sell volume.. :)  It will keep this way :)

In that case, it is time to sell your daughters!