So far it's been amazing how accurate the general sentiment on this forum (I mean the general sentiment of the relatively oldtimers and some other astute ones) has been been on this surge. Between the markets' shrugging off the SR shutdown, plus China, plus the BIT, plus intense and way more positive media coverage, a big rise was very very predictable and many were predicting it (including me myself).

On October 14th I posted the following reasons why the price was about to surge:


To me it was the easiest call ever, and I said as much. Many people who I recognized from the early 2013 bubble were similarly confident in an imminent price rise.

Surging up toward $1000 was considered quite bold but many here predicted it nonetheless, with a correction back toward around $500 then settling in between, and that looks like exactly what is happening.

Then now, by looking at the log charts and seeing when the moves look exponential even on the log chart, when they start curving upward, most of these same people have been able to anticipate the imminent correction this week.

One thing about a market with more mature, experienced investors is that it is less volatile. They are waiting to damp the tops and catch the bottoms. Now with the newbie China investors here it still gets dicey, but I feel like the oldtimers are doing pretty well holding the fort down.

As to where we'll go from here, since we had a nice big correction now it seems we'll do the familiar dragon/alpaca pattern, which is basically oscillating in the triangle SlipperySlope drew above and then maybe some steadiness before going higher. I think there is yet more steam in this run-up, but double exponential growth cannot be tolerated, not even in Bitcoin. Bitcoin likes exponential growth, which is insane enough already.

Just to clarify, so do I.

Last time I think it was Thursday.

Hmm...

My outlandish call in Feb/March/April for $10,000 by Christmas doesn't look so impossible anymore

It's basically either we correct/consolidate now or we have a large correction/crash from quadruple digits. I'd rather see this thing take a breather for now and continue chugging along steadily for the run to quintuple digits.

By the way, congrats to all who saw this giant rally coming from a mile away back in Sept/Oct. Easiest call ever.

Just one more blip to go.

Bitcoin: Eating out the substance of the money trust since 2009.

Sorry to hear that, molecular. Somehow crazy things end up happening during these moonshoots. Maybe someone there was watching the price and left a burner on a cig fell out of their hand or something.

Well the last bolt has been released from the floodgates now...

EDIT: Except the lag. But between three exchanges we can pull through somehow.

Gold who cares. Bitcoin exploding into the stratosphere.

At the last minute, Chamath Palihapitiya pops up and says, "Bitcoin is a huge, huge, huge, HUGE deal. We expect it to be $500,000 to a million per coin in a few years. This thing is gonna rip!!"

China about to break 5000

Choo choo, old chap

Are they talking about porno actors?

I certainly hope it works out that way. The "financial Internet" is a term that may catch on, more so when things like colored coins and maybe mastercoin come on line.

This is the very best angle possible. Highly bullish if this becomes the dominant narrative going forward. Incredibly bullish in fact.

I think there's enough risk and return already. If you want to amplify it that just forces you to time the market on a finer scale. Why make your job more difficult? Nothing wrong with setting a little aside to catch the tops and bottoms, though - that smooths out volatility and does everyone a service.

Just study the log chart and you can find some recurring patterns.

Litecoin wasn't moving for a long time as Bitcoin rose and doubled and doubled, so then Litecoin sprinted to make up for lost time.