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I like the idea in opening post. Only thing I'd add is that time seems to be stretching out. The last bear correction from bubble peak took a lot longer to deflate than after previous bubbles. I can imagine next bubble peaking likewise stretched out in time.
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On same day greeks vote no, the bearish trend appears to be breaking.
The end of the bear trend!
up to $300? I could imagine a spike up beyond $300 quite easily, maybe even up to $400 before next correction. As in another of my threads 'Inverse Head n Shoulders' I think possiblility of bullish chart pattern (although many sceptics think I'm mad or don't know what I'm doing... they might be right). Greek situation looks like it will drag on which also can only benefit bitcoin, plus obvious bullish signal of log trend breached. I think those bouncey dead cats are starting to bounce higher. |
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On same day greeks vote no, the bearish trend appears to be breaking. The end of the bear trend!  Edit: Note lovely touches of support and resistance when line was first touched and then where support was found on purple rising trend line. |
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Thats a prediction that takes balls .. 1200 within a month!
I won't predict that, but with Greek situation, collapsing stock markets around the world, possible sudden moves by big players to wrong foot the little fish who've been shaken out. I guess it is in realms of possibility. Bitcoin is very scare when suddenly you want some and theres none for sale.
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I think the point the opening post was trying to make is that it might be too late for hoardes of Greeks who've left it too late to do anything to protect their wealth but for those of us in other countries we can act now before it comes our way.
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I'm getting a lot of grief here, lighten up folks its just a bit of speculation in the speculation forum. Anyway I don't think this one will play out but if it does, my target is somewhere around $380
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End coming into view ?  |
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You all talk here about paper gold... Like it is real gold, while it is not.
Wether we like it or not paper market still dictates what I actually pay when I buy some physical bullion. |
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I apologize for having to bring a little realism to this thread but..
No. Bitcoin will do POORLY in a crisis. Remember even gold collapsed 25% in the 2008 crash. The last thing on people's minds in a crisis is adopting some obscure speculative asset.
By 2011 gold rallied to almost double its pre crisis price!! |
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In the days of Bitcoinica I lost a lot of bitcoin which was lent out for shorting when the exchange collapsed along with my funds. For me the biggest risk is easily that the exchange holds your bitcoin. You should only lend out very small amounts and hold the majority of your stack safely on your own encrypted wallet.
In terms of shorting the market, all those bitcoins have to be bought back one day or another so for long/bullish perspective shorting only adds fuel to the fire in future.
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Well I'll wade in with my opinion.
I think the US$ (and all fiat in fact) IS unavoidably destined to collapse in an extremely ugly way likely accompanied by major war, which the media will say 'no-one could have seen coming'. Fiat currencies usually collapse after 40 years or so, However this will be on a scale not seen before since all countries are on unbacked fiat at the same time. The signs are everywhere when you look, from all the QE being conducted by major central banks, to zero interest rates. The economy is still on life support. Despite a never ending story of recovery in the media it never materialises and never will. Increasing tensions politically as the US dollar being increasingly bypassed by countries such as China and Russia (who are quietly accumulating physical gold by the tons by the way).Everything in the mainstream media is fake, they do not wish people to protect themselves from this huge fiat wealth destruction.
Protection will be found by holding gold, silver and bitcoin who will see value of their monetary assets sky rocket. (Though bitcoin is the riskiest of these assets because it is uncertain how it will scale).
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With price dipping I'm looking for a bounce around $137 237ish?
Target is still to get above upper red trend then I will declare the end of the bear trend has come to pass
Oops yes, 137 would be quite a crash which is where we're headed  no end of bear if we're going to see a downtrend it might get below $200 but more in the range of $190-$200 don't think it will fall below that. i know that's what you are hoping for. BTC price seems to be very fragile right now, even the large companies accepting btc only has seemed to push it down more. I think double digits are possible, it will probably be another "flash crash" where the price drops in an afternoon, and is heading back up by morning. All it would take is ONE big bag holder to accomplish this. And then I still would think we are in a long bear trend, possibly for years to come Alternatively we are 20 dollars from breaking the log downtrend line. Place your bets. Most of my chips are on the table now |
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With price dipping I'm looking for a bounce around $137 237ish?
Target is still to get above upper red trend then I will declare the end of the bear trend has come to pass
Oops yes, 137 would be quite a crash |
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With price dipping I'm looking for a bounce around $137ish Target is still to get above upper red trend then I will declare the end of the bear trend has come to pass  |
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Still well below trendline on some markets. I'd say inconclusive, but the break out looks like its in the pipeline.
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they are acting like those guys from customer support: telling fairy tales to average joe. but the sad truth is that payment processors like bitpay are doing very bad.
In what way are bitpay doing very bad. Not having a dig, just interested in a bit more info |
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Its another deadcatbounce. Dead cats are very bouncey, they bounce all the time
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Trouble is the bigger bitcoin /the blockchain gets the more centralised it will become as it becomes harder and harder to store the whole blockchain. For example how many of you run a full node ? I'm guessing not that many. The blockchain is already getting rather big hard to sync.
I'm not saying this will cause bitcoin to fail, quite the opposite, the more centralised it becomes the more it will be embraced by the people at the top.
Perhaps bitcoin or some new coin will come along that remains decentralised at all scales but that is not on horizon yet as far as I know.
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