Bold statement: Next target is low ~$700s (Awaiting scream of laughter)

[8up]

We'll see some more hovering around the 200-300 level in the next weeks. After that we'll be reaching ~$700 (quite fast) followed by a correction to the low ~$400s. After that we'll have a boring, but stable time till mid 2016. Good for merchant adoption and inviting your friends to the party,...

This is a speculation based only on gut feeling and some minor observations.

Let the shitstorm begin! 

[1715134825]

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[Morecoin Freeman]

Seems legit.

[Satu]

I hope your gut come true. I have a good laugh while reading this thread

[goxed]

We'll see some more hovering around the 200-300 level in the next weeks. After that we'll be reaching ~$700 (quite fast) followed by a correction to the low ~$400s. After that we'll have a boring, but stable time till mid 2016. Good for merchant adoption and inviting your friends to the party,...

This is a speculation based only on gut feeling and some minor observations.

Let the shitstorm begin! 

Good 5second entertainment

[Amph]

it seems a realistic prediction, but we won't see 700 or anything above 500(or even 300 for what it counts...) for quite some time, at least this is what the market is telling to us , now...

[DeadCoin]

Volume is pathetic even in low 200s, so how do you expect people to buy in 400s or 700s, and even crazier, how do you expect price to stay that high until 2016? I doubt $200+ can hold for much longer, there are 3600 new coins mined every day, while demand and interest in bitcoin are decreasing. More fiat is getting squeezed out of system than that is injected. It is still ridiculously overpriced and still in the process of deflating from the 2013 bubbles, there are simply not enough new suckers and not enough new fresh fiat to maintain the price levels you're proposing.

[8up]

Volume is pathetic even in low 200s, so how do you expect people to buy in 400s or 700s, and even crazier, how do you expect price to stay that high until 2016? I doubt $200+ can hold for much longer, there are 3600 new coins mined every day, while demand and interest in bitcoin are decreasing. More fiat is getting squeezed out of system than that is injected. It is still ridiculously overpriced and still in the process of deflating from the 2013 bubbles, there are simply not enough new suckers and not enough new fresh fiat to maintain the price levels you're proposing.

The market is suppressed for a while now. Bulls simply have forgotten their strength. If we can maintain $200 now, we will easily maintain $400 in a few month (especially, when reward halving comes on the horizon).

[NUFCrichard]

This is a speculation based only on gut feeling and some minor observations.

Thanks for that, it was a riveting read and showed a lot of insight and analysis on your part...
Why does everyone feel the need to post predictions based on nothing?  Yes it might be $700 tomorrow, yes it could be $25 tomorrow, I get it!

Either trade it or just wait and see what happens, no need for a gut feeling thread 40 times a day!

[ensurance982]

Well, I don't really agree with your hypothesis, but it's as good as any other one around here. This is the speculation forum. But do you mind sharing some more reasons that cause you to believe this?

[Elwar]

I am not sure that another jump like the rise to $1200 is in the cards.

The huge jumps in the past were based on the idea that we were going to reach critical mass.

I think we have reached it and the adoption rate is steady. We have had so much good news this past year that I can't see anything that would rally people to believe that the price will be several times higher than its current price.

Though I can see a price discovery point when the mining reward halves.

[8up]

Well, I don't really agree with your hypothesis, but it's as good as any other one around here. This is the speculation forum. But do you mind sharing some more reasons that cause you to believe this?

Actually, there are so many small observations. It's hard to name them all...

• First of all, look at the 2011 correction. Besides the bitstamp flash crash (exaggeration) you almost perfectly can align the last 3 or 4 major moves to our current correction. Guess where we are.
• No downtrend lasts forever except, there is no left value in a tech, a company or a currency (but then it goes to zero nevertheless). I think the recent investment of more than one major financial player is the clear opposite of "no value left".
• Sentiment is overly bearish. All major analysts (see here and on tradingview suspect declining prices). All of them have a big fellowship. Which means most of the market participants should have positioned themselves accordingly. Bulls are ridiculed or ignored alot these days. No one dares to publish a bullish marketperspective. And the bulls in here, who are trolling at the moment, are not the ones with the big bags.
• ~$220 is an established quadruple bottom. If price would want to go lower, there would be no better time than now. Still it hasn't happend.
• It was to expect, that Wallstreet would not pay a premium for entering the market. Since the low in January you can assume big accumulation. This goes hand in hand with investing in companies like coinbase or circle
• Bitcoin is slowly warming up with other communities (not just crypto-anarchists and speculants)
• Media is overly positive since the beginning of 2015

In Bitcoin terms the doubling of the price is not a big move. Just think of how many people bitcoin have on their radar. And now think of yourself, when you bought in. There is a lag between understanding, the purpose to buy in and the actual act.

[ensurance982]

I am not sure that another jump like the rise to $1200 is in the cards.

The huge jumps in the past were based on the idea that we were going to reach critical mass.

I think we have reached it and the adoption rate is steady. We have had so much good news this past year that I can't see anything that would rally people to believe that the price will be several times higher than its current price.

Though I can see a price discovery point when the mining reward halves.

Well, I don't really agree with your hypothesis, but it's as good as any other one around here. This is the speculation forum. But do you mind sharing some more reasons that cause you to believe this?

Actually, there are so many small observations. It's hard to name them all...

• First of all, look at the 2011 correction. Besides the bitstamp flash crash (exaggeration) you almost perfectly can align the last 3 or 4 major moves to our current correction. Guess where we are.
• No downtrend lasts forever except, there is no left value in a tech, a company or a currency (but then it goes to zero nevertheless). I think the recent investment of more than one major financial player is the clear opposite of "no value left".
• Sentiment is overly bearish. All major analysts (see here and on tradingview suspect declining prices). All of them have a big fellowship. Which means most of the market participants should have positioned themselves accordingly. Bulls are ridiculed or ignored alot these days. No one dares to publish a bullish marketperspective. And the bulls in here, who are trolling at the moment, are not the ones with the big bags.
• ~$220 is an established quadruple bottom. If price would want to go lower, there would be no better time than now. Still it hasn't happend.
• It was to expect, that Wallstreet would not pay a premium for entering the market. Since the low in January you can assume big accumulation. This goes hand in hand with investing in companies like coinbase or circle
• Bitcoin is slowly warming up with other communities (not just crypto-anarchists and speculants)
• Media is overly positive since the beginning of 2015

In Bitcoin terms the doubling of the price is not a big move. Just think of how many people bitcoin have on their radar. And now think of yourself, when you bought in. There is a lag between understanding, the purpose to buy in and the actual act.

I guess you guys represent the both types of bulls there are. You both are rather optimistic or pro-bitcoin, at least, but have different expectations on future price movements. I think both your positions are legitimate and could turn out to be the right one. Thanks for elaborating on your "gut-feeling", 8up!

[Dafar]

Going from $300 --> $700 --> $400 within the next few months sounds weird to me. Won't happen.

[ssmc2]

Yeah if we really do see 700 then that means the train is moving along and certainly won't reverse.

[Dilla]

$700? Why $700? That's full rocket booster territory, it will still be going on up! 

[ChuckBuck]

Before we start dreaming of $700, $7000, Seventeen million, let's focus on cracking $300 and staying above $300.

Seems like a tough barrier to crack this whole year so far...

Just keep expectations and price targets more in line.

[yayayo]

Going from $300 --> $700 --> $400 within the next few months sounds weird to me. Won't happen.

That makes it even more likely to happen. Remember: This is Bitcoin.

I'm not sure regarding the proposed pattern neither, but the upcoming availability of Bitcoin investment instruments (GBTC, ETN, Winklevii ETF) could support the price. Also venture capital continues to flow into the Bitcoin sphere at an increasing rate. So if I had to decide between up and down, I'd say up.

ya.ya.yo!

[Chef Ramsay]

Going from $300 --> $700 --> $400 within the next few months sounds weird to me. Won't happen.

If we are destined for another bull run then 700 could be the first sell off phase and if it did go down near 400 it wouldn't last long there as newer buyers would be getting their second wind at cheaper coins.

[Natalia_AnatolioPAMM]

why not 1700$ 

[fortif78]

I am not sure that another jump like the rise to $1200 is in the cards.

The huge jumps in the past were based on the idea that we were going to reach critical mass.

I think we have reached it and the adoption rate is steady. We have had so much good news this past year that I can't see anything that would rally people to believe that the price will be several times higher than its current price.

Though I can see a price discovery point when the mining reward halves.

Whilst I do not agree with this topic specifically, your statement there is too full of lol.
You may want to rethink that one.