That failed line is interesting but is a totally different trendline !

edit:



Pink dashed line is the line that failed, the one you showed from Bitcoin Wisdom. I think pink solid line still might provide support and launch next bigger bubble.

Thats debatable, your line slopes too high. Anyway on such huge range in price scale there bound to be large margin of error, I wouldn't yet say support is broken. Not saying it won't be but isn't definate yet.

maybe its nearly time ?

Both showing similar thing which is really just that we are still in a longish term down trend. The lower chart is similar but on a log price scale. As a long term perma bull I'm hoping bottom will be around that region where the bottom trendline is which is a long term bullish trend going back almost to the start of bitcoin.

I'm not really showing what happens after next, when rocket may take off, may post another chart later to show longer term bullish expectations.

P.S I blog my thoughts on bitcoin as well as gold and silver regularly. All visitors very welcome. Link in sig

Been ages since i posted here. An unfortunate loss of my password coupled with emails not coming through telling me the new one whenever I tried to change it has kept me locked out for months. Anyway after a moment of inspiration I suddenly remembered my password so here I am.

Thought I might aswell share my latest speculation on bitcoin price. In summary after the latest fall in price it looks pretty clear that the trend is still down, chart below shows Bitstamp data in US$ with 1 day candles.



On my log chart below, this is all fitting the picture I've had for some time now of a sideways, or slightly downwards consolidation. I still think the path shown by my arrows is likely kind of action. I first placed on that chart back in September when the price first fell into that channel and so far they have fitted the picture pretty well.



My feeling is that price trend is destined to eventually reverse back to the long term bullish trend probably where the bottom trendline lies. There will be more bitcoin bubbles in good time.

edit: I don't really think bitcoin will crash below zero, but that doesn't mean it couldn't

The blockchain is more than 15 G now. It is a  concern how big it is getting, how do the devs intend to handle it as it keeps growing ?

So who are the good guys? Nato? And Putin is the evil baddie? Hmm

Honestly some people on here need to try and see bigger pictures. War is being brewed by bankers for bankers benefit. Like all wars. Politicians of either 'side' are pawns are quickly removed from the picture as soon as they don't follow the script. Its time people became more enlightened. Why are western forces destablising Ukraine? To absorb them into the technocratic borg of the EU. Blue print for the zionist global new world order. Dont trust media to tell you any truth.

Buy gold silver and bitcoins and Hodl!

Nice thread, kudos to the brave investment decision. In my humble opinion diversification into physical gold and silver would be well worth considering, that doesn't mean get rid of all the bitcoins.

Bitcoin has huge potential for sure and the way the media are behind it makes me think the powers that be have plans to use it (or similar , Iceland will soon have its own national crypto currency). But I think gold and silver are true wealth available at manipulated low prices.

MatTheCat

Thats the direction I'm starting to think in too. I forsee bitcoin eventually being embraced by big money and individual freedom and anonymity dwindling away in the process.

I was all out too, but now back in Never say never

Yes now is a good time to buy.

Heres my 2 satoshis.  Don't sell silver to buy bitcoins. Do it the other way around. Accumulate bitcoins, then on peaks trade some in for precious metals. I think PMs are long term more reliable, stack them for the future. Bitcoins is untested at mass adoption, how well will the blockchain scale? will it remain decentralised? But yes keep some bitcoins for long term too in case.

If I had bitcoins on MtGox (which I don't) I'd be itching to get them out to store in my own wallet. Don't trust third parties with your valuable bitcoins, its not worth the risk.

Its a good point. Only slight difficulty with local bitcoins is the spread is so big, making pinpointing an actual market price quite tricky

Really enjoyed reading that opening post. Great theory, something to think about.

+1

This is an awesome thread. I'm in bitcoins, gold and silver mainly but definately interested in diversifying into more crypto currencies. Peercoin and Litecoin sound quite good for starters.

Can anyone recommend good ways to do this? Do you have respective wallets for all these synching with their own blockchains or hold it on the exchange ? What exchanges are good ?

A poudhon alt !!!
That made me LOL

Woah, steady on! I bought around that level too! Bitcoins may drop a little but longer term the bull still looks like its in good shape to me.

Will Gold and Silver lose all its speculative value to Bitcoin.

Short answer.

No

Gold and Silver have properties that bitcoin does not. Bitcoin cannot replace gold and silver. Also bitcoin itself may fail or become centralised. The scalability of bitcoins will become a problem in the future. Gold and Silver have no such issues and are tried and tested several times throughout history being used as money.