BIG bullish indicator as we enter 2016...

[kwukduck]

There are much better indicators than difficulty increase caused by one new mining farm.

And they all point down...

[Cryptology]

There are much better indicators than difficulty increase caused by one new mining farm.

And they all point down...

Why don't you tell us which indicators you are talking about?

[Cryptology]

I can't really see any correlation of difficulty and price. It's related to spiraling hardware specs which cares not for what traders are doing. The traders who dictate the price probably don't care as long it all still creaks along.

Well if you think about it for a while it is quite intuitive. There are 3 reasons why you would not observe a clear correlation even though the basic idea is that for any given asset price will converge to intrinsic value over time.

1.  Some assets like bonds fore example are very easy to value because they have more or less predictable cash flows in the future as well as companies like S&P rating the solvency of the issuer. For bonds price and value will tend to deviate little. Bitcoin on the other hand is a different asset more akin to gold with no cash flows one can use for valuation. For these type of assets value a price can deviate significantly over a prolonged period of time. Also value becomes much more subjective and difficult to define.

2. In any case any asset must have value otherwise nobody would waste their time with it so you must think what are the value drivers of an asset like Bitcoin? As a bitcoin trader I have considered this question for long and came up with several ideas one which is the degree of security of the network or how resistant it is to attacks. Of course this is not the only value driver but it is a major one in my view. All other things being equal a cryptocurrency with more mining power backing it will be more valuable than one with less mining power simply because it is more secure.

3. The reason why you'd not observe such a correlation in the short term is because if you would you'd be making money very easily. Buy bitcoins, then buy mining equipment and start mining, price increases, sell come of the bitcoins, buy more mining equipment, make more money, repeat.

[dothebeats]

There are much better indicators than difficulty increase caused by one new mining farm.

And they all point down...

Down to where? Also, which better indicators are you referring to, then? I wanna know because I always see you around threads and saying that it will always go down without some evidence.

[PseudoCode]

Kwuk keeps his Noggin in his Rectum, which explains both his short-sighted inverted view of the situation and his unwillingness to elaborate on, or describe the things he sees. 

Just do the opposite of what he says, and you'll be fine.  Usually, the louder he kwacks, the better bitcoins prospects look..

One day he might figure out to try some reverse psychology and try pretending to be a bull, but until then, hes more of a http://www.urbandictionary.com/define.php?term=bullshit+artist

[Cryptology]

The scene is set for another record breaking increase in difficulty in a couple of days.

https://bitcointalk.org/index.php?topic=1305575.0
https://blockchain.info/charts/hash-rate

[Cryptology]

And here we go again -> https://blockchain.info/charts/difficulty?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

[European Central Bank]

Wow. That is an epic chart. A nice reminder for the little people to think twice about getting into mining.

[darkangel11]

It's about time we went back to that $1000 people were missing for over 2 years.

[davinchi]

It's about time we went back to that $1000 people were missing for over 2 years.

Yes, it is time to go again to hit the most awaited price level of $1000. I too believe that the difficulty raise is the first step towards a price increase. Price will follow difficulties levels. There would be many surprises we are going to experience in 2016.

[bitcoinboy12]

It's about time we went back to that $1000 people were missing for over 2 years.

Yes, it is time to go again to hit the most awaited price level of $1000. I too believe that the difficulty raise is the first step towards a price increase. Price will follow difficulties levels. There would be many surprises we are going to experience in 2016.

We dont know the price fluctuate but according to the chart there's a possibility that it will hit again in $1000.
I dont experience it before but now i think it will happen. But im not ready to experience it yet and im still collecting more bitcoins
and finding another source of bitcoins Before the price start to raise..

[lexuz]

It's about time we went back to that $1000 people were missing for over 2 years.

we have big gap in here and the gap around $500++. first we need break up $700 before we hope price back to $1000.

[helloeverybody]

I dont know why $500 seems to be such a hard number to get to, it looks like we are slowly climbing though. Would be a good start to 2016 if we broke $500 in january which isnt impossible.

[uki]

I'm guessing you are bullish for 2016?

Yes. Very much. If there are no negative events in Bitcoin security and regulatory landscape I'm looking for Bitcoin to make new highs in 2016 (relative to 2015) in a conservative scenario. In an optimistic scenario I think it can touch $1000 or come very close to this figure. In any case I do expect the bullish trend to continue fueled by:
1. Increased adoption as revealed by more transactions in the network.
2. Increased hashing power and hence increased security and therefore higher value of the network.
3. Reduction of supply of new asset supply due to halving by mid 2016.

Of course in the short term anything can happen as any trader with a significant position can push the price up or down. My expectation are on the mid term trend.

I didnt really follow the asic manufacturers but arent the next gen asics out?

I don't know exactly but looking at the last massive difficulty increases looks like this could be the case.

I agree with your opinion that in order to come close to $1k price we would need to have some positive developments in terms of adoption APART from just the halving event. Halving event is overhyped in this forum, but based on that alone we won't go far, if the positive developments do not follow.

[bitlancr]

I dont know why $500 seems to be such a hard number to get to, it looks like we are slowly climbing though. Would be a good start to 2016 if we broke $500 in january which isnt impossible.

There is just too much resistance which makes it hard to get there or to even stay there.
But the whales didn't give up yet In fact it could go there quite easily.

[Arcteryx]

Bulls will aways be bulls... so their bullish ways is no surprise coming into 2016.
I just want to see the price rise a bit more so we can see movement quick so we can move this coin to it's potential value for the prosperous value that it deserves.

[randy8777]

I dont know why $500 seems to be such a hard number to get to, it looks like we are slowly climbing though. Would be a good start to 2016 if we broke $500 in january which isnt impossible.

of course $500 isn't impossible to reach. you only must not forget that there are large traders that bought their coins well below sub $300. as soon as you see the price come closer to the $500 price level, you see it goes down again. too many people are waiting to sell at this point. as soon as they have taken all their profits, then the price will go through the $500 barrier.

[Omikifuse]

If they spent so much in a Bitcoin mining farm, then they must have a good reason to believe the price will increase, and I think they have more information than we.

So I think it is bullish, but not because of the rise itself

[Arcteryx]

1000 is not impossible in ky book

It is not impossible but it will take years to get there unless some big event happens to have this happening.
Then it will rise and continue to rise to the moon some say. But this is my pure speculation of course.

[Cryptology]

I dont know why $500 seems to be such a hard number to get to, it looks like we are slowly climbing though. Would be a good start to 2016 if we broke $500 in january which isnt impossible.

The way up for bitcoin will not be easy even though that's the clear trend in the medium and long term.
The main factor pushing prices down are miners having to convert part of their newly minted coins to fiat to pay for business expenses like for example electricity. Even if they can pay for new equipment with BTC these coins will still need to go to fiat for similar reason at some point.