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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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notme
Legendary
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Activity: 1904
Merit: 1002
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January 12, 2013, 06:37:27 PM |
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 When the price hit an all time high at June 5th 2011 we have seen a rally about every 7 months. If this pattern continues we could reach the old high around march 10. From that level we would probably have a correction (to the $20 level?) If this materializes it would set the stage for a gigantic cup and handle pattern with a price projection of $58.  This chart and analysis is licensed under a Creative Commons Attribution-ShareAlike 3.0 Unported License. I used Bitcoincharts.com. If you find this useful you can donate to: 193UusyT5UAiy2MAwhWUZF6oUGUwF3pH19 I but optimistic IMO, but I wouldn't complain if you were right. |
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Bowjob
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January 12, 2013, 06:41:01 PM |
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Mhm.. Quite bullish, I agree. I made a similar chart while I was in Lalaland. http://i45.tinypic.com/2uz8ao3.pngNo doubt if Bitcoin gains traction, there will be a day where 100 Bitcoins can purchase a modest sized home.  |
It seemed like a good idea at the time.
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lucif
Sr. Member
Offline
Activity: 462
Merit: 250
Clown prophet
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January 12, 2013, 06:44:50 PM |
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bitsource
Member
Offline
Activity: 96
Merit: 10
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January 12, 2013, 07:16:04 PM |
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Hey! Why not - not too long ago we were happy when it broke though $5.00 p so let's get set for a lot of activity -
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32DgAoQRMAkqbaYhShLWQnFt4LWJhWe3Ba
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Kupsi
Legendary
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Activity: 1193
Merit: 1003
9.9.2012: I predict that single digits... <- FAIL
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January 12, 2013, 07:16:43 PM |
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Hey! Why not - not too long ago we were happy when it broke though $5.00 p so let's get set for a lot of activity -
+1 |
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phatsphere
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January 12, 2013, 07:19:12 PM |
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I don't think you are right. there has never been a real resistance above 15, the 2011 spike was just an overshoot. Once we've finished the current rally and we are down to a decent resistance, we'll know much more ... but that's completely in the dark right now.
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zero3112
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January 12, 2013, 08:19:08 PM |
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Don't all rallies just burn out eventually.
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jonitas (OP)
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Activity: 57
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January 12, 2013, 08:39:58 PM |
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Yes it is bullish, but that is not an argument as to why this projection couldn't happen. What Phatsphere said about the 2011 spike being an exceptional overshoot that lasted for a very short time I can agree with. Personally I think we do will revisit the previous high especially because BTC is prone to big moves to the upside and downside. Since I believe in the fundamentals of this new technology, and since we are establishing a very good support at $13-$14 I think it'll be to the upside. Considering this 7 month cycle we have seen since 2011 this could happen as soon as March. It then could go ballistic and overshoot but will probably correct.
Also don't forget we just saw a 500,000 USD investment in BitPay and Wordpress speaking up for Bitcoin in a very short time span. This will be something that will be happening more often. And as of today the total market cap of BTC is just $154 million which is next to nothing.
For those who are making references to drug use here, please deliberate further on why you find these ideas so ridiculous or just shut up.
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ElectricMucus
Legendary
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Activity: 1666
Merit: 1057
Marketing manager - GO MP
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January 12, 2013, 08:46:25 PM |
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For those who are making references to drug use here, please deliberate further on why you find these ideas so ridiculous or just shut up.
It's just a figure of speech chill out. What I find alarming though is that you found your way into the /Speculation after such few posts. I have no idea who you are, but if I have to guess proudhon or smoothie.  |
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jonitas (OP)
Newbie
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Activity: 57
Merit: 0
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January 12, 2013, 08:54:27 PM |
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What I find alarming though is that you found your way into the /Speculation after such few posts.
Good point |
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herzmeister
Legendary
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Activity: 1764
Merit: 1007
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January 12, 2013, 08:58:14 PM |
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Don't all rallies just burn out eventually.
it's better to burn out than to fade away, right? |
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smoothie
Legendary
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Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
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January 12, 2013, 11:00:19 PM |
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For those who are making references to drug use here, please deliberate further on why you find these ideas so ridiculous or just shut up.
It's just a figure of speech chill out. What I find alarming though is that you found your way into the /Speculation after such few posts. I have no idea who you are, but if I have to guess proudhon or smoothie. Nope not me. lol |
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ .
LEALANA BITCOIN GRIM REAPER SILVER COINS.
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lucif
Sr. Member
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Activity: 462
Merit: 250
Clown prophet
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January 13, 2013, 02:16:51 AM
Last edit: January 13, 2013, 02:48:33 AM by lucif |
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Investments to Bitpay? Hehe...
They will burn with their investments because:
- They participating in BFL fraud
- They accepting unconfirmed Bitcoin transactions. I surprised nobody used this vulnerability so far
- They advertising their customers bypass PCI Compliance . This means forget about security.
This all will end very sadly. Capitaliztion requires security and resposibility. And what do we have here? Hack here, hack there, scam end rumors everywhere...
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smoothie
Legendary
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Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
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January 13, 2013, 03:02:49 AM |
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I do agree with the OP. The pattern is there. Perhaps it might take an extra month to spike (April or May). Anticipation may drive prices to likely skyrocket in February.
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███████████████████████████████████████
| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ .
LEALANA BITCOIN GRIM REAPER SILVER COINS.
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21after2
Member
Offline
Activity: 112
Merit: 16
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January 13, 2013, 03:17:55 AM |
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I do agree with the OP. The pattern is there. Perhaps it might take an extra month to spike (April or May). Anticipation may drive prices to likely skyrocket in February.
April/May would make sense to me since people will be getting their tax refunds around that time (for last minute filers). People take more chances once they receive those lump funds. |
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vssa
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January 13, 2013, 06:06:50 AM |
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lucif
Sr. Member
Offline
Activity: 462
Merit: 250
Clown prophet
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January 13, 2013, 07:28:59 AM |
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The topping signal is correct, but EW count isn't correct in any way. There is a tripple zigzag ending diagonal. |
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🏰 TradeFortress 🏰
Bitcoin Veteran
VIP
Legendary
Offline
Activity: 1316
Merit: 1043
👻
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January 13, 2013, 12:08:50 PM |
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Yes it is bullish, but that is not an argument as to why this projection couldn't happen. What Phatsphere said about the 2011 spike being an exceptional overshoot that lasted for a very short time I can agree with. Personally I think we do will revisit the previous high especially because BTC is prone to big moves to the upside and downside. Since I believe in the fundamentals of this new technology, and since we are establishing a very good support at $13-$14 I think it'll be to the upside. Considering this 7 month cycle we have seen since 2011 this could happen as soon as March. It then could go ballistic and overshoot but will probably correct.
Also don't forget we just saw a 500,000 USD investment in BitPay and Wordpress speaking up for Bitcoin in a very short time span. This will be something that will be happening more often. And as of today the total market cap of BTC is just $154 million which is next to nothing.
For those who are making references to drug use here, please deliberate further on why you find these ideas so ridiculous or just shut up.
Exactly, but if you can't see it's a good idea to sell BTC at around $30 then you're being significantly delusional. Bitcoin is set to grow. What is unknown is what banks and gvoernments will do about it. |
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