September and October will be eventful.

[BIGMERVE]

I love when this happens.

[smoothie]

We are on the verge of panic buying and seller strikes. Once price breaks 170$, which could be next week, the bulls will go berserk and all those who hoped to buy once it crashes will surrender and buy back at loss.

I know lots of long time Bitcoin bulls who are patiently waiting for a crash with loads of fiat. I know too many of those temporarily bearish bulls. I do not think that their strategy will be profitable. Too many people are waiting with fiat to pick up cheap coins. It will not happen this time. They will have to buy back at a higher price.

Look at the daily chart right now. Only during 11 days ever the price was higher than it is now.  Only during 5 days the price was above 141$ for most of the day and the the volume during those days was rather mediocre.  On the other hand, days that marked bottom prices had huge volume. Everyone, but those who sold coins any day other than those 11, above 141$, with intention to buy back (and still has not bought), is being hurt now. Emotions are starting to boil. It is kind of prisoner dilemma for them.

Expect a bunch of elephants to try to squeeze into Bitcoin room via a tiny door of roughly 50-100kBTC available on sale at a price below of the all time high 266$. Buy popcorn. September and October will be eventful.

and here we find ourselves more than 60% above the pre September levels

told ya so

... meanwhile loads of smallish hippos are incoming and will try to buy their fractions of bitcoins. November and December will be eventful too ;-)

This ^.

The recent two month move is not done...

To be revisited at the end of the year.

[vokain]

I have been in NYC the past two weeks working on several very significant Bitcoin related projects.

Any chance you can elaborate? Also - Will you be posting to your blog anytime soon?

Wish I could.

Just wait for the news, serious journalists like the WSJ have already been getting briefed but cannot write about it yet, which should come out around the last week of September. Additionally, this fall there will be probably 6+ 'big names', like Richard Bove or Chamath Palihapitiya [starting at 19:15], in the investment community that will come out in favor of Bitcoin and that will cause a lemming like effect.

And the private wealth managers out of Asia are stacking Bitcoins away as the new favorite asset class. Many of the HNWI family offices will not make an investment in the sub-$25-50m range. So, when Bitcoin melts up then it is going to be free range for a lot of these ultra-rich Asia families to move in.

If about $1m of new capital moves the price $9 then just imagine what $500m-$1B of new capital flowing into this asset class would do to the price. Especially if that $500m requires 'clean bitcoins' from a known source of funds. The making of a 'melt-up' in price to a much more fundamentally sound valuation since Bitcoins are largely undervalued given their characterstics (no counter-party risk, cannot be seized and equity based like gold).

This is going to be a wild ride this fall. So strap yourselves in and let's kick the tires and light the fires!

Chamath Palihapitiya, check
Asia, check
Wild ride, in progress

[wachtwoord]

OP delivered

[BitChick]

We are on the verge of panic buying and seller strikes. Once price breaks 170$, which could be next week, the bulls will go berserk and all those who hoped to buy once it crashes will surrender and buy back at loss.

I know lots of long time Bitcoin bulls who are patiently waiting for a crash with loads of fiat. I know too many of those temporarily bearish bulls. I do not think that their strategy will be profitable. Too many people are waiting with fiat to pick up cheap coins. It will not happen this time. They will have to buy back at a higher price.

Look at the daily chart right now. Only during 11 days ever the price was higher than it is now.  Only during 5 days the price was above 141$ for most of the day and the the volume during those days was rather mediocre.  On the other hand, days that marked bottom prices had huge volume. Everyone, but those who sold coins any day other than those 11, above 141$, with intention to buy back (and still has not bought), is being hurt now. Emotions are starting to boil. It is kind of prisoner dilemma for them.

Expect a bunch of elephants to try to squeeze into Bitcoin room via a tiny door of roughly 50-100kBTC available on sale at a price below of the all time high 266$. Buy popcorn. September and October will be eventful.

and here we find ourselves more than 60% above the pre September levels

told ya so

... meanwhile loads of smallish hippos are incoming and will try to buy their fractions of bitcoins. November and December will be eventful too ;-)

In the past Decemeber has flatlined, perhaps because people pull money out for travel, Christmas/Hanukkah gifts etc.  I was thinking that would happen this year as well but perhaps it would be best not to bank on that?

[vokain]

We are on the verge of panic buying and seller strikes. Once price breaks 170$, which could be next week, the bulls will go berserk and all those who hoped to buy once it crashes will surrender and buy back at loss.

I know lots of long time Bitcoin bulls who are patiently waiting for a crash with loads of fiat. I know too many of those temporarily bearish bulls. I do not think that their strategy will be profitable. Too many people are waiting with fiat to pick up cheap coins. It will not happen this time. They will have to buy back at a higher price.

Look at the daily chart right now. Only during 11 days ever the price was higher than it is now.  Only during 5 days the price was above 141$ for most of the day and the the volume during those days was rather mediocre.  On the other hand, days that marked bottom prices had huge volume. Everyone, but those who sold coins any day other than those 11, above 141$, with intention to buy back (and still has not bought), is being hurt now. Emotions are starting to boil. It is kind of prisoner dilemma for them.

Expect a bunch of elephants to try to squeeze into Bitcoin room via a tiny door of roughly 50-100kBTC available on sale at a price below of the all time high 266$. Buy popcorn. September and October will be eventful.

and here we find ourselves more than 60% above the pre September levels

told ya so

... meanwhile loads of smallish hippos are incoming and will try to buy their fractions of bitcoins. November and December will be eventful too ;-)

In the past Decemeber has flatlined, perhaps because people pull money out for travel, Christmas/Hanukkah gifts etc.  I was thinking that would happen this year as well but perhaps it would be best not to bank on that?

Bitcoin adoption rates are not seasonal (calendrically)

[Melbustus]

We are on the verge of panic buying and seller strikes. Once price breaks 170$, which could be next week, the bulls will go berserk and all those who hoped to buy once it crashes will surrender and buy back at loss.

I know lots of long time Bitcoin bulls who are patiently waiting for a crash with loads of fiat. I know too many of those temporarily bearish bulls. I do not think that their strategy will be profitable. Too many people are waiting with fiat to pick up cheap coins. It will not happen this time. They will have to buy back at a higher price.

Look at the daily chart right now. Only during 11 days ever the price was higher than it is now.  Only during 5 days the price was above 141$ for most of the day and the the volume during those days was rather mediocre.  On the other hand, days that marked bottom prices had huge volume. Everyone, but those who sold coins any day other than those 11, above 141$, with intention to buy back (and still has not bought), is being hurt now. Emotions are starting to boil. It is kind of prisoner dilemma for them.

Expect a bunch of elephants to try to squeeze into Bitcoin room via a tiny door of roughly 50-100kBTC available on sale at a price below of the all time high 266$. Buy popcorn. September and October will be eventful.

and here we find ourselves more than 60% above the pre September levels

told ya so

... meanwhile loads of smallish hippos are incoming and will try to buy their fractions of bitcoins. November and December will be eventful too ;-)

In the past Decemeber has flatlined, perhaps because people pull money out for travel, Christmas/Hanukkah gifts etc.  I was thinking that would happen this year as well but perhaps it would be best not to bank on that?

I tend to buy bitcoin (in Casascius coin form) around the holidays to give away as gifts.

[sinner]

We are on the verge of panic buying and seller strikes.  ....

Expect a bunch of elephants to try to squeeze into Bitcoin room via a tiny door of roughly 50-100kBTC available on sale at a price below of the all time high 266$. Buy popcorn. September and October will be eventful.

I think you may be underestimating where the price could go this fall.

I have been in NYC the past two weeks working on several very significant Bitcoin related projects. I think there is a possibility we could see a major price melt-up based on fundamentals to $1,000+, perhaps even $5,000+ and then a crash if the markets get particularly unruly, bitcoins over the next 6 months.

when i read this i thought "no way...", but u were right

[wachtwoord]

OP delivered

Vladimir, what is the next eventful period?

[RHCwebhosting]

Price is going up and down 10-50% day by day, this is beyond eventful..

I think I'm going to overdose on popcorn

Can't even sleep