This is looking set to explode upwards

I can confirm the next 7 days are critical

Could even retest new highs this year!

Okay, some good points, thanks!

Does anybody audit some of the bigger mining pools? Are their intentions public?

I really should be doing some research into them but its Saturday and I was hoping to watch some big green candles

Can we just limit bitcoin mining to something only standard GPU's can do?

Or at least something everybody with a PC can have a reasonably even share in?

I loved bitcoin years ago because I used to mine myself, and even with only a little reward, it helped me understand it all. But today it is silly unless you can invest 5 figures +++.

And as we push to even faster ASICs there seems to be a trend of centralisation being set up in the bitcoin mining, where one person/group can own a large chunk of hashing power, and this is only getting worse over time.

With this added centralisation comes the added risk of malicious actors and a distrust in the very verification process that is so sound and secure.

Are we looking for a solution to this or is the consensus that it is either inevitable or not a threat?

I have seen bigger and more market buys this last week than the previous 5 months combined.

Such a big increase in volume is a pretty good trend reversal indicator.

Where do you gents do your trading? Bitstamp?

I got heavily burned with MtGox so one with a bit of security and a competent CEO would be nice..

cheers

If no dip, stability in a cup-handle is major bullish and confirms the trend reversal. Shorts will be squeezed.

Le cup 'n' handle faec


If this holds and we go sideways for a couple of days we'll be well over $500 by next week.

I still can't get over this volume..

Where has it all come from?

There's no major news from what I can tell, it all seems to be from a speculation of a trend reversal.

Not for long :^)

All aboard!  

It's only a matter of time until the next capitulation upwards

A sustained market-cap of over $10B+ for most of 2015 would be nice.

Even the most bearish out there can't look at this without shivering

https://blockchain.info/charts/n-transactions-excluding-popular?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

A repeat of July-October 2013 is my prediction for the next few months.

Long downtrends are great for the few who are into bitcoin right now, they can short or spend more time collecting bitcoins to go long with.

But long downtrends are terrible for growth, nobody new has any incentive to jump into a slowly sinking ship.

I hope we can have a few weeks of stability, around 350-400 dollar region.

Who am I though, this market is unlike anything else I've seen and the honey badger always surprises me, even after over 2 years of on/off trading I still cant predict the next week

aww poor bears

Reminds me of those selling at 10-15 dollars late 2012

China leads the rally again...

What is it with the rest of the world?

Hahah all these smart "investors" saying bitcoin is a good short right now with such certainty...

Yes, we might test new lows or maybe a double bottom. IMO pretty unlikely but it could happen.

But they really don't have a clue about the honey badger do they

Yeah, if the bullrun continues and we break 70 in a few weeks I can see a capitulation upwards.

When a bitcoin train gets rolling nobody stands in front of it.

Just noticed the RSI has been at its lowest on the larger (3-day) graphs since 2011, we are still waaaay oversold.

CCMF


On a side note are there any exchanges which have had a pretty consistent volume on a large timescale?

Bitstamp only goes back to late 2011 and the volume back then was nothing until gox went down

That's 5 days now with about 400'000 bitcoins traded on the main exchanges.

If that hasn't ended the downtrend I'll eat my own hat.

Let's get some stability and stay above 500 for a few months by the end of the year, then the sky is the limit!

This guy gets it, once you have a centrally controlled currency (like ripple) the incentive of the central control isn't on increasing the worth of each unit (the ripple), can you imagine a bank doing this?

So far I'm only seeing small fish buying in. (The wall for example, that was bought by thousands)

Will we see the bigger whales (many who sold BTC1k+ at over $1000) join?

Maybe most of the people who want bitcoin now are people with not a lot of dosh.


I see sentiment around the community remarkably similar to early (5-10th) July 2013. Lets hope for a repeat!!