Christmas Call: $700

[Donald_Buck]

Seems that we will break $475 today or tomorrow
Next resistance is at $700
This will take some time to break
We can reach new ATH in February/March
Than we will see the start of the next bubble ...

[NorrisK]

You think we will shoot straight up to the resistance at 700? That's quite the leap that is needed then.
I agree that we will break the 475 soon, but 700 seems like a bridge too far still.

[LMGTFY]

Seems that we will break $475 today or tomorrow
Next resistance is at $700
This will take some time to break
We can reach new ATH in February/March
Than we will see the start of the next bubble ...

Why do you feel the next resistance is at $700? I'd expect resistance around $500 and $680 because we've previously encountered resistance at those levels (last month for $500, and June 2014 for $680). I'm also thinking that where we are now - around $450 - is a resistance level (~$450 was the November 2014 high point).

tl;dr - until we get clear of $450 I think it's too early to think about $700.

[Zaun]

Yeah 700 dollars is just to far to reach it for now if Santa just can give us 500 dollars this Xmas than I would be a happy man.
700 dollar will happen in 2016, because I see a lot of people that they are saying that it goes to 1000 dollars so yeah.
Lets just have some patients and wait until halving happen and watch what bitcoin is going to do.

[rich93]

Professional traders use Fibonacci resistance levels instead of guessed resistance levels. As most of the professionals use they they become a self fulfilling prophecy. The next Fibonacci resistance level is not $700, there must be a lot of Fibonacci resistance levels before that.

[toy4lov3rs]

That would be a great xmas!

[agustina2]

Your close Chief but not with the $700 resistance guess.

Right now we are building resistance from minimum $440 with the maximum of $470. Bulls always getting back in track after a sudden falls to $440.

Let's see what will happen in weekend.

[ThunderThomas]

You do realize that Christmas is next week right? Which means in order to get to $700 bitcoin would have to shoot up to the moon. Which I doubt will happen looking at how much bitcoin has progressed this week. It's going up in value way too slow to reach $700 by next week.

[rich93]

You do realize that Christmas is next week right? Which means in order to get to $700 bitcoin would have to shoot up to the moon. Which I doubt will happen looking at how much bitcoin has progressed this week. It's going up in value way too slow to reach $700 by next week.

If it went up to $700 by Christmas that wold be over 50% up in price. It would be an unsustainable increase, and drop back down as quickly as it went up like after the pump to $500. If it goes to $700 by Christmas it will go back down to $450 by New Year.

[1Referee]

I can't see the price go much higher than $500 this year. Beside that, I am very happy if we stay at the current price level for the rest of this year. There are plenty of threads where people think Bitcoin will reach very high price levels this year, it's not going to happen.

[kwukduck]

Christmas always seems so far away, right until it's tomorrow!
There is no possible scenario where bitcoin will be valued at $700 at least until the halving of the block reward.
It's already heavily overpriced and downward pressure is rapidly growing as people start to realize this.

Nonetheless I wish you a happy Christmas.

God bless.

[MaritiJames3]

I don't think we'll see a higher price then $500 by the end of the year. $700 is a too big of a reach for now.
I can see bitcoin reaching this price somewhere around 2016.

[Fulmand]

I think the price will be around $500. The adoption of bitcoin will not increase that much to warrant a higher price.

[kwukduck]

I think the price will be around $500. The adoption of bitcoin will not increase that much to warrant a higher price.

If we look at adoption rate it shouldn't be worth more than 50 bucks.... ask yourself. Do you really know anyone else in your real life that uses bitcoin? I'm predicting you'll have to say 'no' in order to be honest.

[agustina2]

I don't think we'll see a higher price then $500 by the end of the year. $700 is a too big of a reach for now.
I can see bitcoin reaching this price somewhere around 2016.

Nope. $700 or even higher than that are possible this month. It's just that today's volume showing us that this won't be happen. Let's see in the upcoming days. There is so called a sudden pump.

[1Referee]

I think the price will be around $500. The adoption of bitcoin will not increase that much to warrant a higher price.

If we look at adoption rate it shouldn't be worth more than 50 bucks.... ask yourself. Do you really know anyone else in your real life that uses bitcoin? I'm predicting you'll have to say 'no' in order to be honest.

I can agree with you that the adoption rate isn't high, but even at this "low" adoption rate it gives Bitcoin this value. And yes, a lot manipulation is going on. This price is just a temporary reflection of what the block halving will do with the price. I want to hear you again once the price is nearing $1000 somewhere in 2016. I'm interested in knowing if you then still think that Bitcoin shouldn't be worth more than $50.

[Amph]

it's possible, because in the first two week we increase by 100 easily, so in another two weeks it cna be quite possible to reach 600 at least

700 maybe seems far stretched, but with bitcoin everything is possible

[CoinCidental]

I don't think we'll see a higher price then $500 by the end of the year. $700 is a too big of a reach for now.
I can see bitcoin reaching this price somewhere around 2016.

Nope. $700 or even higher than that are possible this month. It's just that today's volume showing us that this won't be happen. Let's see in the upcoming days. There is so called a sudden pump.

There are millions of coins in storage of wealthy people we can't control, they will probably buy more rather than panic sell anytime soon because they likely don't need the money.... But it would be relatively easy for the price to double in a flash or vice versa

The issue is, if it doubles when you have already dumped, you can't buy back in, so trade carefully

This is a marathon, don't sprint

[azguard]

I don't think we'll see a higher price then $500 by the end of the year. $700 is a too big of a reach for now.
I can see bitcoin reaching this price somewhere around 2016.

Nope. $700 or even higher than that are possible this month. It's just that today's volume showing us that this won't be happen. Let's see in the upcoming days. There is so called a sudden pump.

There are millions of coins in storage of wealthy people we can't control, they will probably buy more rather than panic sell anytime soon because they likely don't need the money.... But it would be relatively easy for the price to double in a flash or vice versa

The issue is, if it doubles when you have already dumped, you can't buy back in, so trade carefully

This is a marathon, don't sprint

you said it right marathon
he needs to understand some thing that it can be done fast only with patience

[bitlancr]

It's too soon to say this. Bitcoin is really close to $500 but not there yet. It's hard to predict that it will go up to $700 in just 1 week.
I don't think this will happen though. I'm happy enough to end the year on a $500 note.