Hm?  not sure if I see it.   

Who?

I believe that $1,000 is just an easy reference point numerologically to round off.  I don't hold $1,000 in any high regard either because in November/December 2013 from exchange to exchange, bitcoins were trading at a vast array of high levels above $1k, including $1,163 on Stamp, and northwards of $1,500 on Local bitcoins, and higher on various other exchanges.


One thing that seems a bit special about the $1k price point concerns theories about whether BTC prices break that threshold or shoot past such price threshold.  

From the history of bitcoin price spikes and the breaking of previous ATHs, we have generally witnessed a considerable overshooting of the previous ATH... once the BTC price gets moving in the upward direction.  

Personally, I have the sense that this time around is not really going to be too much different from previous times.... even though there are more tools for shorting and more big money looking at it and more liquidation possibilities and trading platforms, etc. To me it seems that once the price gets moving into the upper 3 digits and breaks into the 4 digits territory, there seems to be a considerable likelihood that  BTC prices are going to overshoot again and to go past the previous ATH.  

Nonetheless, we have several resistance points, and seeming a considerable distance between $334 and $999.99 before we get to 4 digits in BTC pricing....

Furthermore, in my view, it seems that the past nearly 2 years of a bear market and almost a year of the bears being able to hold BTC prices in the below $300 territory, could cause some kinds of violence in the upward price momentum, and it could be possible, that  just moving past $500 again in prices could cause considerable piling on board with more fiat looking to buy BTC and less BTC looking to sell, which will merely cause BTC prices to go up very quickly and to again shoot past the $1k and above territory, possibly into the $3k to $5k territory, where people will again become more willing to sell than to buy.  I don't really know either, and I am just speculating the best I can based on my watching the market and interacting myself with both buying and selling (and mostly attempting to accumulate more BTC through such buying and selling activities).

This projection seems within the realms of possible and realistic  , yet it seems to be a revision of your previous prediction of $32k in July 2017, no?

What has caused such a $32k delay by two quarters?  you fucker!!!!  I was hoping to become elite by mid-2017.   

A dump is not guaranteed.

What is your target price point?  $325?  

Currently, prices are at $334, and there is a lot of difficulties getting below $330, and maybe you should invest 25% of your available fiat at this price point, and then maybe another 25% at $330 (if we get there)  and another 25% at $325 (if we get there)  another 12.5% at $320 (if we get there), and save the remaining 12.5% in case we break $320.  Just a thought.




Edit:  On the other hand, if prices spurt upwards from here, you may be chasing the price upward with your fiat.

Cannot be stable with this level of volume... think of below 15k per day or 105k per week as thresholds on Stamp... and if we get below those volume numbers or at least in that ballpark, then we could possibly assert that BTC is stable.

Each of the two above posts, seem like wishful thinking, as if each of these have oversold, and want to buy back in at lower prices... maybe below $320 if that is still possible?  or maybe near $300 which seems to be becoming even less likely to be in the short-term future of BTC prices....  

From the info in OP, it seems that you need to have a minimum of 10 posts in a week in order to receive a payment.

I may have misspoke a little bit, because I was not really trying to box in any exact formula for potentially getting rich on bitcoins because each formula will be somewhat dependent and hopefully tailored to the individuals overall circumstances.

And, in that regard, there will certainly be individuals with a lot of philosophies including those who have no intention to invest any further into bitcoin, no matter what the price.

Yet, to some extent, I believe that several readers of this thread assume that the price of BTC is increasing, yet there may be quite a lot of variance concerning whether individuals believe that they should continue to invest or to rest on the amount that they already invested.  In that regard, even though was criticizing some of the points of Biomech, I agree with him that there is likely increased value to have an interactive plan with regard to bitcoin holdings, even though I was criticizing his apparent assessment that trading is the only way to really profit from bitcoin (and to put one's BTC investment to work).  Maybe in the end, I agree with a lot of his points, except I have some difficulties with his apparent assertion that trading is good for everyone, when in fact some BTC investors may not be at that stage of their BTC investment, and they may never really be comfortable with the concept or practice of trading their BTC holdings.

I really doubt that it is fake volume on Stamp.

Without evidence, don't attribute the same shenanigans on Stamp as some of the Chinese exchanges have been accused of and admitted to.

Maybe I get a little annoyed at some of your word choices, even though I don't really disagree with a lot of your ideas?

Let me just ask why you need to assert "the whale" to suggest that one entity is repeatedly responsible for various market movements both up and down and it is the same one as was there before, etc. etc. etc? 

You could have made a lot of the same points without being so narrowly conspiratorial in your assumptions by merely suggesting "a whale" or "various whales" are increasing their trade activities in an apparent pattern, etc etc.

Your points are very valid, Denker.   A blanketted recommendation suggesting that the only way to accomplish meaningful gains is to trade your BTC (or any  other asset) is short-sighted and self-absorbed.

Every person needs to assess his/her own financial circumstances to ascertain risk, distribution and likely continue to tweak in the event that the totality of the investments are in fairly infant stages.


In this regard, building and hoarding BTC could be a very good strategy in light of the persons total distribution of investments, including considering the time horizon of the person.

On the other hand, if a portfolio becomes fairly well-distributed, and it has segments, such as BTC, that have become very profitable, then it may be prudent to take some of those profits; however, there seems to be likely considerable utility to continue to build the BTC portfolio, based on the overall expected value of that particular asset, in comparison to other fiat based assets that a person may hold (or have). 

In this regard, it seems prudent to continue to dollar cost average invest into BTC and to increase the overall accumulation of BTC while it is under $1,000 per BTC.  Surely, every person, while still accumulating, will need to decide for himself/herself, the extent to which s/he feels it is necessary to take some of the profits between $330 and $1,000.. and maybe even attempt trading and/or reinvesting - depending on the totality of the persons BTC holdings in comparison with other investments that s/he may have, etc.

Yes, you may be suggesting a form of dollar cost averaging, as well.

If he has 20BTC at 30 years old, he can continue to invest a portion of his paycheck, and maybe acquire 20 more BTC or some other reasonable amount, and the appreciation of the BTC plus his continuing to invest will likely have a compounding effect.

At todays, prices, investing $50 per month will get you nearly 2 BTC a year, and if the prices go up, then that same amount may only get you .2BTC a year; however, a guy may well begin to draw a higher income too, as the years go by, and will be able to continue to invest more, maybe $100 or $500 per month.

I bought all the way down from $1,200-ish in November 2013, yet my intention was a form of dollar cost averaging, and really when I started buying, I did not expect BTC prices to go below $200 or even below $300 ever again. 

Anyhow, even though BTC price dips were somewhat beyond my expectations, I did not sell any coins on the way down to $160-ish, I only continued to buy, when I could and in a kind of hybrid-dollar cost averaging arrangement.

I had a little bit of cash flow issues in the first several months of 2015 (not directly related to bitcoin), and I was not able to buy too many bitcoins in the early part of 2015 (i did not sell any either), but I was able to buy quite a few coins through the subsequent parts of 2015, and accordingly, I felt comfortable to conceptually divide my BTC holdings into 4, and therefore, I could justify first beginning to sell some (small portions - like less than 1% of my holdings) after the price returned above $250. 

Now, I have a little bit of a hedge in my total BTC holdings on the way down and profits on the way up.  My BTC portfolio is not in the best arrangement for all scenarios (because my underlying assumption is that BTC prices will eventually go up), and I believe that my BTC holdings are in a much better place with a plan (that is somewhat tweaked from time to time), and I believe that I have a pretty decent plan to cash out little by little on the way up, while continuing to attempt to accumulate coins and to attempt to hold a vast majority of my coins, even while I am cashing out little by little as the prices should go up.

 

Which one are you Jbreher?  Were you able to hang on to some of your early purchased coins?  Do you have thousands of coins, as some of the posters here assume? 

I believe that you are suggesting that your bitcoin holdings are much more modest than the assertion of "thousands."  I would suggest that if anyone from 2011 time period has more than 100 coins, then they are doing pretty well to have been able to hang onto some of their coins while possibly engaging in some of the practices that you described in your post.

See my above post, too.   My point is that it is very difficult to hold coins when the market is going up and down.  Surely, some of the people at $5 are going to be doing really good, but they are likely tempted to sell on an ongoing basis.  They are tempted to sell part or all of their holdings, because until it happens, there is no certainty with bitcoin, and there is no certainty that bitcoin will even reach $500 ever again. 

I believe that those are some of the difficulties for real people.

I would not assume that 2011 adopters have thousands of coins, even though it is possible that at some time they had thousands of coins.

They could have profited with their experience and they could have been burned a few times by the up and downs of BTC prices.

Imagine buying 1,000 coins at $10 when the price goes up to $32, but then maybe you fail to cash in and then the price goes down to $2, and you decide to recover your losses because you fear BTC is going to $0 and thereafter you witness the price go up to $260...

Those kinds of experiences could cause some earlier adopters to feel bitter about getting involved in bitcoin, because it has been so frequently difficult to time anything with the price or to have a plan exactly for what to do when BTC prices goes up  to cash in some but to hold on to some, also, and people have a tendency to want to lock in profits of all their holdings when they see their BTC holdings losing value... 

So they may end up with no coins or only a few coins based on their inclinations to cash in profits or fear of losses in the value of their BTC portfolio.

Actually, there are likely going to be all kinds of flavors of persons entering and exiting and reentering the bitcoin space. 

Those earlier adopters are at least somewhat aware of bitcoin, and even if they became disenchanted or skeptical, they may have enough subliminal knowledge of bitcoin that they are going to assist in various pump phases of bitcoin when they jump back on board while the price is going up or provide support when the price is going down, and they think that it will go back up.

Bitcoin has come a long way over the past 4-5 years, and people who were already aware of bitcoin are likely going to become reacquainted with it at various times - even when their level of information may be skewed by their own negative initial experiences.

I agree with you regarding a very considerable potential that $300 will be retested; however, you are way off base to assess volume as anemic.

look - about 5 hours ago, we witnessed a battle involving nearly 14,000 BTC on stamp over a period of about 90 minutes.

In the past 4 hours, we have also witnessed about an additional 3,000 BTC exchanged... relative to 14k, that is a smaller amount, but it is no where near any contextually accurate concept of "anemic."

How am I supposed to know?

I thought that resistance is used to describe difficulties in price movement on the way up and support is to describe difficulties in price movement on the way down.