HAHAHAHAHA HAHAHAHA
HAHAHA

HAHAHAHAHAHAHAHAHAHA

What a bull shit.So far, Bitcoin has proved to be VERY instable. Period.
The OP needs new glasses.

WOEHAHAHAHAHAHAHAHAHAHAHA

Meaning what?
I don't think that is the point here - at all.

Mind you - given the relatively low USD/XRP price, that circumstance has already been taken into account.

I very much like what the site represents. However, I find it rather biased that the site is not showing Ripple as a crypto currency.
And that -sorry- is simply bull shit.

ALL the way down on the page you can click a small link stating "Looking for Ripple?" http://coinmarketcap.com/ripple.html.
"YES", I might add - I was looking for Ripple! 

I guess, the owner of the site is strongly biased AGAINST Ripple. Okay, you may be so, and it's a free country you live in (I suppose). Now don't claim you don't have a bias against Ripple, since if not, you would not have added some exotic "Emerald" coin with a current market cap of just $1,122 on the page, but were just "omitting" Ripple with a current market cap of $ 1,119,676,268. (That is: SECOND in place after BTC and way ahead of LTC and the likes).

I know, I know: Ripple is still in it's infancy, and in bèta. Both owners of XRP and RippleLabs will be the first to admit that:  "YES, it is. Still. Though not for long."
If you need to, put that as extra info in.  But let's be real... Ripple is FAR, FAR (!) ahead in its development and future potential than any "Emeralds" or other BTC-spinoff (like LTC).

Oops.. probably I'll now get cursed for that    by some of the "other altcoin" evangelists.
To all those potential cursers - FYI in advance:
- I'm a really big advocate of BTC, for the quick trading profits that it has given me so far;
- I'm an even a bigger advocate of Ripple, and that is for the long haul capital preservation opportunity it provides (BTC is currently way too volatile for that IMHO).
These two crypto currencies will rule. They work. And if you can't deal with that, then get a life.

To the website owner: put Ripple in right away, please! (Be it with an extra "in bèta" if you feel the need to do so.)
You'd be much more credible doing so. 

That's exactly the case: it is a regression line, using known data. The current value vs. regression line simply means, the price is sitting at the line. No more, no less. It could mean the price might turn up again.

HOWEVER, it does not mean in ANY way:
* that prices can't fall any further (after which they might start rising again)
* nor that prices might also have already topped at their all-time-high.

There is just no way of telling, not even with your regression line.
Implicating anything else would be an insult to the science of Statistics.

Bottom line: a regression line is of no practical prospective use, it is for historical (ex post) analysis.

I don't think you understand him correctly: he does want his money out of MtGox. Only to find MtGox cannot deliver anymore.

Mind you: not on a USD transaction, but on a EUR transaction!
That is something that really worries me.

FYI: I don't do any trade through MtGox anymore as my trust was gone once the announced USD-withdrawals would not be possible. "For the time being" (Let's see how long that is gonna take). Yet - should MtGox fail, it will be bad for the adoption of Bitcoin by the general public. We simply would not want to see headlines like that. BTC would survive, but would also be facing a set back. Thankfully, we're not there YET. But I am wary of the situation at MtGox.

[ edit: did I miss something while being away from the forum for a while: would the OP be a known troller? ]

Exactly. I fear we're in for a VERY wild ride in BTC.

Imagine: MtGox belly-up, and Bitstamp getting into banking troubles as well (be it just temporarily) if the shit hits the fan in Slovania within 4 weeks from now. There is actually talk that a Slovanian real estate owner (who WILL default) should meet obligations about NOW. It will, in turn, get Slovanian banks in trouble, meaning Slovania will need to ask for an EU-rescue. Just think of the consequences, if Bitstamp's bank gets into trouble...

Mt.Gox trouble... Bitstamp trouble...

Let's hope for the better...

I just saw the announcement at https://mtgox.com/press_release_20130620.html

WTF ?!?!?!

I suspect Mt Gox is in deep shit, but is trying to save it's ass. There is just no point in stopping USD withdrawals, yet still accepting USD.
This is a matter that stinks like rat-filled a gutter on a hot summer night.

I don't trust it. What's next?

So it's now official: the upward intermediate trendline has been broken. 

First thing to look for (as this is a weekly chart) is to see a CLOSE below this trendline. That will occur if the price doesn't reverse sharply. That will be your confirmation.

Once confirmed too, we're into "neutral" from an intermediate standpoint of view. But "neutral" withing VERY large boundaries.
In any case it is by FAR not time to start buying again. This market will need months to work things out (that is most likely to be at a vastly lower level; even from the current levels you might see a 70% drop).

Take care out there.

Exactly. Chances are, it will, although intermediate term support levels (current week: at  $100) are not yet broken.
You might want to take a look at the weekly levels here, for reference:
http://bitcointalk.org/index.php?topic=223860.msg2352683#msg2352683

+1 , well said

@alexeft
Also note, that SHOULD the vast amounts of money created at the moment, at some time in the future get into the real economy as well, then brace yourself. We're running the risk of hyperinflation by then.

Well, let's be honest amoung us, BTC-proponents (yes, I am a proponent):

1. The actual utility of bitcoin may in some cases be a bit better than that of gold, but it is certainly not when compared to the dollar. Or any other fiat currency. Bitcoin is far from that level of utility. If you don't see that, you need to have a better look.
2. Perception of the majority (and trust in any asset) is always the issue. Be it gold. Be it USD. Be it real estate. Be it Bitcoin - TOO !
3. Therefore, Bitcoin will only be able to serve as a "better store of value" and means (utility) if it is supported by the general public.

If people don't support or value an idea/phenomenon, both of us may WISH for Bitcoin to be better than anything else, but THEN it's simply not going to happen.
It even might turn out (if people would walk away from Bitcoin) that Bitcoin turns out to be a worse means to store value. I would not expect that to happen, but it CAN happen: you peoples' support. Yours, mine, everyone else's.

Fact of life, sorry if this should wake you up in a rude fashion 

You're welcome!

Perhaps, I don't know 

Yet - I am closely looking at the long term semi-log chart. Both medium term and long term trend are still in place, but the medium term trend runs the risk of getting broken in the coming weeks. https://bitcointalk.org/index.php?topic=223860.0 If so, we could see significantly lower prices $32- $64. Well, that's my take at this moment.

Quick update on my thoughts - long term, as we may be getting into a rollover in price again.

On the daily chart (normal scale) you'll already recognize a trend line break. But given the volatile nature of BTC, and its remarkable resilience so far, I tend not to read too much into the chart on normal scale. For those nonetheless interested, here it is:





Instead - I am closely looking at the weekly chart on semi-log scale. Given the large percentage wise swings we're looking at.  Here are your red alert levels to watch for the coming weeks. No trend broken, yet. Should the trendline be broken, however, then brace yourselves for a target of $32 - $64.

[ RSI and MACD (not shown here) show either a the old negative crossing (RSI) and an about-to-happen negative crossing (MACD). ]





(sorry, but you will need to zoom with your browser to get a good look)


"And hey... Let's be careful out there!"
Willy

Thanks for your data analysis.

I'm not sure what you are trying to say, though. If you're trying to say that BTC will keep rising in a similar fashion, then let me just add a word of caution: thinking things will be the way they always have been, is a inherent flaw in the thinking of us, humans. It may have saved us thousands of years ago out there on the Savannah ("if I see the grass moving, I start running for my life. It could be a tiger, or just the wind, but my running at least has never got me killed") but that doesn't make it valid reasoning.

Never undererstimate reality, Bitcoin could remain on that 10% track, or it could simply not.
Always be prepared to adopt the unthinkable, that's basically what I'd like to address.

I wouldn't say so. The remarks mgio makes are genuine concerns for the future of Bitcoin. (Well, i.e. a future in which it might be widely used by the general public, instead of being used by just the geeky early adopters. A very dim future is also a future, you might say, but I think we'd all prefer a really bright future for BTC).

Should recent developments be all part of a bigger scheme, then you'd better not be "stuck" with your bitcoins. [Yeah, start bashing me now ]  Worst case I'm afraid one day we'll wake up, noticing that the Japanese have shut down MtGox's bank accounts alltogether - this being just a "friendly gesture" towards their US counterparts in Government. They simply wouldn't care a bit.

Not seeing the risks that are mounting indeed, is not being wise IMHO.

You should read a bit more carefully: I am only posing a possibility.

Yikes!! indeed.

Though I don't know how much OKPay accounts for volume wise, this is again one of those nasty little developments added to the list.

I wouldn't be surprised to see -at a certain point in time, so with the benefit of hindsight, of course...- that this OKPay withdrawal is just another part of the tactical manouevres undertaken by Government institutions to crack down on Bitcoin.  Would the Japanese be next to hit MtGox big time (and thereby trying to hit BTC as they would like to sell you their "lovely deflationary yen" as an alternative   ? )

Yes, I think BTC will survive such Government crackdown, but the only question is: in what shape will it be afterwards?
We'll see.

Here is my take on the situation...

If BTC is EVER going to be a currency (instead of a commodity that it is right now) we are in desperate need of a TRUE spreading amoung a vast amount of exchanges. I'd like to see  more than 50 exchanges (at least) in order to be able to talk about some independent price formation, and stability from within the system.

YET...

For the time being, any Mt.Gox assault by either/and US/Japanese authorities WILL pose a major setback to BTC. As long as it lasts, I know, but IT WILL. There is simply NO way ordinary people are going to adopt BTC when exchanges are either unreliable, filing fraudulent bank enrollment forms, closing after some months, etc. etc.

Bitcoin deserves better than what we've seen over the past weeks.

But let's be honest: it will fail in an epic way if the problems about exchanges won't get addressed at last... And let's be honest once more: that is a problem when having such a decentralized currency... All we can hope for is enterpreneurs willing to setup competing exchanges, and to conduct their business in a moral & lawful way.

I just can HOPE for the better.

Meanwhile, I would not be surprised to pick up BTC at a WAY lower price before the dust settles... Double digits might well be on their way IMHO. And meanwhile, I am also reducing my risks/exposure and/or uplifting my profit potentials by partially positioning myself into Ripple as well (now don't laugh -yes, that IS legitimate, and it is in fact a BUSINESS well run, contrary to the fukcing-up by Mt.Gox)

To those whom it may concern,
Willy

I second that. If BTC is EVER going to be a currency (instead of a commodity that it is right now) we are in desperate need of TRUE spreading amoung a vast amount of exchanges. I'd like to see  more than 50 exchanges (at least) in order to be able to talk about an independent price formation.

YET...

For the time being, a Mt.Gox assault by either / and US/Japanese authorities WILL pose a major setback to BTC. As long as it lasts, I know, but IT WILL. There is NO way ordinary people are going to adopt BTC when exchanges are either unreliable, filing fraudulent bank enrollment forms, closing after some months, etc. etc.

Bitcoin deserves better than what we've seen over the past weeks. But let's be honest: it will fail in an epic way if the problems don't get addressed. And let's be honest once more: that is a problem when having such a decentralized currency... All we can hope for is enterpreneurs willing to setup competing exchanges, and to conduct their business in a moral & lawful way. I just can HOPE for the better. Meanwhile, I would not be surprised to pick up BTC at a WAY lower price before the dust settles... And meanwhile, I am partially positioning myself into Ripple as well (now don't laugh - it IS legitimate, and it is a BUSINESS, contrary to the fukcing-up by Mt.Gox)