Bitcoin Forum

The next 8 to 48 hours should be exciting since the market is finally showing some movement.
If $500/$507 (btc-e) holds, then an eventual Rally is coming.
If it breaks below $500 many people will expect $400 (or lower) so we might drop fast, then an Bigger Rally is coming ASAP.

Markets tend to "mess with you", so...
If it dips below $500 (ie. $498.98), and slowly starts to Rally, then just flip a coin and you will know exactly where the market is going.  :D

No matter what happens:
An eventual Rally is coming.

• Will you be ready (after buying on the way down), or nervously hoping it goes back down to the bottom you missed?

Don't know what's it gonna be. Hope doesn't go too much down.

Wouldnt you like to know... ;D

i expect a bulltrend if it doesnt go below $480(flash crash dont count) the next 3-5 days

Doesn't it all depend on whether China ban is a hoax or not?

Surely, if we get confirmation of the story, it will drop like a rock.
On the other hand, if the PBOC comes out with a statement refuting it and restating their position (like they did last time), then we should see a rally....

$400 or even lower is a lot more likely gonna be the bottom than 500$ IMHO seeing the speed of this dump and the news and rumors going around.

The rally is definitely gonna happen but NOT now, it's gonna take a loooong time to properly rally again, hopefully to the next bubble. I'm guessing it's not gonna happen until around june or something.
After the bottom we will probably see sideways or a really slow uptrend.
 

I expect that this is the period of time when people have evaluated their tax situation given that the guidance is out.  I know I was up last night collating numbers for 2013.  I basically took a conservative approach and had the fiat I needed on hand, but could easily have ended up needing a little more.  Had that happened I would have sold now rather than waiting for a re-bound so I didn't get boxed into a corner and forced to sell at a bottom.  Hopefully that is contributing to the current decline.

The tax news is good for U.S. people who hold decent hoards and know how the tax structure is designed (read, by and for the rich) so I could see more people with money deciding to jump in BTC as a speculative play.  And they would have to hodl for a while to get long-term capital gains.  Should this happen I could see notably higher valuations even absent any significant economic breakdowns a-la Cyprus.  Bitcoin will always have some supply-side tightness due to it's design so demand is extra important.

THE rally is definitely gonna happen, but not now.
A smaller Rally to $700, $800 even $900 is very possible.
These markets are nuts, a bit of good news and we could see a nice spike.

You must be confused.  This market is being led by China.  They will decide our direction, not BTC-e.

There has been a plethora of good news over the last two months.  I think it's going to take a little more than "good news" to turn this around ATM.  However, yesterday was looking promising, but then the self-prescribed day-traders and weak hands did what they do.

How so? Nothing of particular interest happened yesterday did it - no major upward movements?

Green candle for one, however from what limited time I was able to actively watch the market it appeared as though there was a slow climb in price despite a constant influx of sell orders.  Further, the wall @<$600 was bolstered with a mob of asks which didn't deter the buying.  It seemed apparant watching the cumulative depth at the $650 and $700 price points.

If it stays longer on 400-500ish it would be paradise for merchants as payments in BTC are payed much higher.

My neural network prediction project (http://www.btcpredictions.com/) is predicting a pretty decent sized climb over the next 24 hours, and I'm inclined to believe that it will be correct about this.

It's been weird, though - we've had lots of good news recently and it hasn't moved much, but one rumor from China shows up and down we go. :-/

I'm not touching my coins. every time I do, the market does the exact fucking oppsoite. every time. that being said, I think we'll be testing the post gox low again within the next few days. dark times ahead, folks.

Cool, thanks. Never ask a stupid question, never learn anything new.
I figure we need to properly establish 500 as a baseline before anything interesting (upwards, anyway) happens.

good news?? lol you must be joking. every god damn day has brought bad news for weeks now.

Wow, yes it does!
Your chance to shine (no pressure...). Good luck!

WTF?  I wholeheartedly disagree.

you must be delusional. every day has either brought news of an exchange freezing assets, governments banning bitcoin, or new tax regulations. what's the good news? new ATMs that nobody is using? the news has been overwhelmingly negative since the start of this year.

+ 1

I'm talking about investments into Bitcoin's infrastructure.  I suppose we likely value certain information differently.  The only news I view as hugely bad is the Mt. Gox fiasco and the perpetual China BS.  I view most of those pieces you've referenced as necessary evils indicitave of Bitcoin's growth and survival.

Ha! I put my paper wallets in a downtown bank safe deposit box - specifically to keep me from trading them. I can of course add more coins to the public address without needing the private key printed on the wallet. I bought some fractional coin a couple of days ago, again this evening, and I plan to test out the two other Bitcoin ATMs in town in the next few days. I love bargains.

I'm aware of China and their influence will fade in time, just like Gox.
Why should I quote prices in a currency that is not familiar?

I think 400 will be the lowest price we'll see in the next 48 hours. After that, it's going to increase again. Like it Always did.

Got some extra money to spend? Hop on and make some quick cash :).

Live like there's no tomorrow!
Buy like the bottom is already set.  :)

That's the spirit! Transferring some money now ^^.

Buying <500 has always been profitable to me, and I'm sure it will again now.

It'd be fun to get some technical analysis in btc but to be honest it's just too young and unpredictable for that data to even be worthwhile. Moving averages don't mean shit, bollinger bands don't mean shit, the only thing that seems to matter is the mood of the market....

....and now back to $520.
Hope your money transfer was fast enough.

It definitely has been quite exciting so far!

Alas, I personally think we'll be kissing $500 for the next day before doing another steady climb to the upper $500s during the weekend.

[I still stand by my prediction for $620ish on 3/31/2014. Hehe.  :P]

Unfortunately I could only buy a fraction of a coin when it was at $475. Damn end of the month bills. Gah. Oh well, got 2 BTC when it was nearly $400 earlier in the month so I'm not all too sad.

Chinese rumors are fucking anti bitcoiners
Everytime when there is something happening or either with a fake news also bitcoin use to rise up and fall down
Now its moving back up so lets hope untill tonight we can see something better

If I was a gov, I would keep BTC friendly/closed as possible to the controlled fiat currency because soon we'll get a real decentralized anonymous marketplace up and running and will be very hard to control it and everybody looking for real world trading of goods will looking to another country's fiat to measure stuff ...

TL/DR -> If you not kiss your bitch, another guy will do it. 

Also disagree. I think one of the biggest indicators for me of the long-term health of bitcoin is the fact that BTC startups are attracting top talent from established financial sector employers.

http://www.entrepreneur.com/article/232364

http://www.paymentssource.com/news/as-bitcoin-companies-mature-more-take-talent-from-the-mainstream-3017408-1.html

While I agree that speculation is fun I think the influx of people with a pure shortterm get-rich-quick-perspective isn't positive.

So I'm fine with another price drop to wash those people out. People need to learn that Bitcoin is not another speculative instrument which should be measured in $$$. It's revolutionary technology with the potential to change economy worldwide.

+1

Very well said

Yeah, I think I may have fallen into the latter camp to some extent. Knew about BTC in 2011, but didn't jump on until January 2014, mainly for speculative purposes. I then started to diversify into some mining...

I digress; I am sort of sore that I could have spent some of the money invested into some other things, but I think it'll pay off in the very long-term. (But I do sort of wish that my pillow cushion of fiat was a bit plumper.)

The BTC community is a lot bigger than this forum, and more importantly, there's way more going on than the sensationalist stories that get inappropriately hyped by the media would seem to suggest.

All the good news is in the sweat of the hard working entrepreneurs and developers, the 'boring' stuff that just doesn't have the same impact as a good doomsday article.

+1

Don't regret what you could have done in the past, think about what you can do today to shape your future positively. We are still at the very beginning of a potential future Bitconomy.

Apart from that, being involved in Bitcoin is a great way to learn what free money is and how it works. Once your infected with this "free money feeling" you will no longer consider USD as a relevant unit of wealth measurement. :)

In that respect, trying to get Andy Goldstein to give me a job at Bitpay.

Im guessing around 450$ Sunday. I think we're in for a bumpy ride

The rally from $471 to $539 was pretty exciting.
Bitcoin prices are really way too stable.  :D

4 days left and im going all in plus taking a loan

its nothin but some cash, lets go 8) 8)