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January 30, 2016, 08:25:00 AM |
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no, i believe that was in the downtrend from 400-600 when we were at 1200, now we are between depression and hope, there is even a word to describe it?
Yep, we're dope! That's where/what we are right now! Joke aside, we are all in on the beginning wave of a massive monetary takeover, by the people. Unless one is a trader, I don't think one should ever sell one's Bitcoin. Instead we should all start using it, then whatever price it would be wouldn't matter anymore as it would slowly become the new standard currency.
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uki
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cryptojunk bag holder
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January 30, 2016, 12:14:35 PM Last edit: January 30, 2016, 12:34:49 PM by uki |
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-snip-
I believe that there will be more scares to come, and that the $350 low will be breached, and panic selling will ensue. But as per your market pyschology/state diagram, there does indeed come a time, when the bottom is well and truly in and that bottom happened one year ago. What we have now, are the Chinese BTC Cabal, pumping n dumping, swishing coins around to sucker traders in, and then scare them back out of trades, and suck all their wealth from them. 'They' want as few filthy white foreign barbarians getting in on 'their' action at optimal prices as possible. 'They' want us to be buying in, chasing momentum which they will generate.
$650 BTC is a very logical target for many reasons, and whilst I suspect a lot of resitance around here, in the long run, I can see $800 Bitcoin, and perhaps even a spike up to $1000 BTC......but of course, it wouldn't surprise me at all to see $320 BTC in the coming week or two, and a whole lot of doom n gloom surrounding the move down there.
MatTheCat, thanks for this nice analysis. I believe we agree in many points you made, as stated not only in this thread. I also see $500-600, as the target resulting from the halving event, if there is no other support due to the fundamental developments that would influence the adoption. Apart of that, we are driven by Chinese speculators, so it is up to them what is in the cards for the coming months, but I would also expect actions similar to that recent November pump and dump afterwards to repeat.
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Tzupy
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January 30, 2016, 12:27:27 PM |
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So I guess the answer will depend on the market then? If it goes down sub 300 it's denial, if it continues going up we're at optimism...? And since no one can really predict the market, how do we really know if it's denial or optimism?
Sub 300$, but above 200$, would still allow a shoehorned bullish scenario. If 200$ will be broken, then very likely a new lower low (than January 2015) will follow and possibly double digits. Here are the bid sum / ask sum ratios for the last 6 months and 4 exchanges (BTC-E not included, looks more bullish, probably due to Russian capital flight): ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FfnqIxmc.png&t=665&c=SZXyjq9P6jrJDQ) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FwczFtib.png&t=665&c=PJ4qh67UT1MquQ) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FXjfTfQ6.png&t=665&c=q6sAlEK0CkTY_A) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FTSedYxb.png&t=665&c=aKU3k5UxsaKscg)
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Sometimes, if it looks too bullish, it's actually bearish
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tokeweed (OP)
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February 01, 2016, 12:59:29 AM |
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As more and more time passes by I think we're all in denial. The trend is now down.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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DieJohnny
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February 01, 2016, 03:42:57 AM |
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halving pump happened two months ago.... btc is 18 months from the next pump...... get over it
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Those who hold and those who are without property have ever formed distinct interests in society
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Tacalt
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February 01, 2016, 11:23:25 AM |
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As more and more time passes by I think we're all in denial. The trend is now down.
When the Bitcoin Core decides to adopt higher block size, the price will rise dramatically. It will be at least $600.
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RodeoX
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The revolution will be monetized!
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February 01, 2016, 03:22:27 PM |
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As more and more time passes by I think we're all in denial. The trend is now down.
When the Bitcoin Core decides to adopt higher block size, the price will rise dramatically. It will be at least $600. I think that is a huge factor right now. The community's inability to come to a consensus on block size is a worrying sign for the year ahead. If we do come to ANY change then I think it will send buy signals.
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Biodom
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February 01, 2016, 03:52:23 PM |
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Maybe this whole thing is a reflection of the fact that humans are unable to reach consensus on pretty much anything that matters. I think that bitcoin was badly damaged by the 'premature' price spike of 2013, which resulted in too many economic actors and policy makers pressing their case before the software was ready. As far as going forward-who knows.
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Biodom
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February 01, 2016, 04:00:22 PM |
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halving pump happened two months ago.... btc is 18 months from the next pump...... get over it
That was not halving pump, that was a boost in price coinciding with large hashing deployment by Bitmain and Bitfury. In fact, miners rewards are LOWER now (in $$ per the same hashing power) than they were in September of 2015, despite somewhat higher price (from $225 to 373 now). Sharp difficulty increases ate all mining rewards and then some. This resulted in ALL miner purchases made in September-October to be projected as unprofitable in the longer run without taking into consideration halving projected in July.
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tokeweed (OP)
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February 07, 2016, 12:36:48 AM |
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As more and more time passes by I think we're all in denial. The trend is now down.
When the Bitcoin Core decides to adopt higher block size, the price will rise dramatically. It will be at least $600. I agree. But what if that comes 4 - 5 years from now...? So BTC price will stay at current level or lower?
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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lumeire
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February 07, 2016, 03:36:35 AM |
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As more and more time passes by I think we're all in denial. The trend is now down.
When the Bitcoin Core decides to adopt higher block size, the price will rise dramatically. It will be at least $600. I agree. But what if that comes 4 - 5 years from now...? So BTC price will stay at current level or lower? True, and for the doubters, haven't you guys been here long enough, we've seen lows of down to $200 last year. It's a really complex cycle, a lot of factors blend in and it takes time. What I'm concerned today is this statement: "It's proven easier to get a bank to participate in payments standards than a bitcoin community company," by the W3C Web Payments. He further added that "these companies aren’t looking to interoperate, but instead want to dominate." It's easy to assume that they'll kill BTC if given the chance right now.
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tokeweed (OP)
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February 07, 2016, 05:14:42 AM |
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As more and more time passes by I think we're all in denial. The trend is now down.
When the Bitcoin Core decides to adopt higher block size, the price will rise dramatically. It will be at least $600. I agree. But what if that comes 4 - 5 years from now...? So BTC price will stay at current level or lower? True, and for the doubters, haven't you guys been here long enough, we've seen lows of down to $200 last year. It's a really complex cycle, a lot of factors blend in and it takes time. What I'm concerned today is this statement: "It's proven easier to get a bank to participate in payments standards than a bitcoin community company," by the W3C Web Payments. He further added that "these companies aren’t looking to interoperate, but instead want to dominate." It's easy to assume that they'll kill BTC if given the chance right now. That really didn't answer my question. It's not about doubting.. And your answer makes me think that we are indeed in a state of denial as no one wants to face reality. Go read the question again.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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RyNinDaCleM
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February 07, 2016, 03:22:41 PM |
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As more and more time passes by I think we're all in denial. The trend is now down.
When the Bitcoin Core decides to adopt higher block size, the price will rise dramatically. It will be at least $600. I agree. But what if that comes 4 - 5 years from now...? So BTC price will stay at current level or lower? True, and for the doubters, haven't you guys been here long enough, we've seen lows of down to $200 last year. It's a really complex cycle, a lot of factors blend in and it takes time. What I'm concerned today is this statement: "It's proven easier to get a bank to participate in payments standards than a bitcoin community company," by the W3C Web Payments. He further added that "these companies aren’t looking to interoperate, but instead want to dominate." It's easy to assume that they'll kill BTC if given the chance right now. That really didn't answer my question. It's not about doubting.. And your answer makes me think that we are indeed in a state of denial as no one wants to face reality. Go read the question again. I think it all depends on how other versions are taken... Block size changes are inevitably coming soon, but perhaps not on the Core client. If Classic is adopted and a fork occurs, then it's about how people perceive that change. If negatively, then we stay flat or go down until Core gets their shit together and we fork back to Core. But then it's two forks, and ain't nobody got fo dat! So more likely imo, if we fork to another development, that will be it, and we all have to deal with the repercussions. Users who are against this change, will leave and Bitcoin will get its true test of sustainability.
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Tacalt
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February 13, 2016, 11:39:37 AM |
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I think it all depends on how other versions are taken... Block size changes are inevitably coming soon, but perhaps not on the Core client. If Classic is adopted and a fork occurs, then it's about how people perceive that change. If negatively, then we stay flat or go down until Core gets their shit together and we fork back to Core. But then it's two forks, and ain't nobody got fo dat! So more likely imo, if we fork to another development, that will be it, and we all have to deal with the repercussions. Users who are against this change, will leave and Bitcoin will get its true test of sustainability.
If the Core team does not want to change the block size soon, due to the conflict of interest, I will most people will support Classic and learn a lesson from the process.
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