Bitcoin will never reach $30 again

[Richy_T]

I think the current price is probably correct for now but I suspect we are really going to start really bubbling any day now followed by quite a severe correction.

Should be fun.

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[Luno]

Just in memory, a thread from 11 June 2011.

https://bitcointalk.org/index.php?topic=15067.msg208970#msg208970

There are simmilarities and differences between then and now. Faithfull to the the title of this thread; "Bitcoin will never reach $30 again" looking back to June 2011 right now is healthy for a traders coolness.

[johnyj]

During recent rally there were two fast drop, followed by an immediate push back

One possibility is that some big player earned enough and tried to cash out, but the market liquidity is so low that he could not sell all of  his coins without cause a heavy drop in price, so he immediately bought them back and keep pushing the price up until later he can sell at a much higher price, then even price dropped a lot, he would still be able to make some good profit

So be careful

[cypherdoc]

So be careful, BEARS.

ftfy

[Fiyasko]

Well, It hit thirty, Your wrong

[Luno]

During recent rally there were two fast drop, followed by an immediate push back

One possibility is that some big player earned enough and tried to cash out, but the market liquidity is so low that he could not sell all of the his coins without cause a heavy drop in price, so he immediately bought them back and keep push the price up until later he can sell at a much higher price, then even price dropped a lot, he would still be able to make some good profit

So be careful

Carefull and dilligent, thats the way. I have tried to guesstimate the 5-15K walls on the whole Dollar prices the last days.

It looks like this is fixed Dollar amount selloff: Every the price climbs another Dollar, he sells for the same amount of Dollars, before the price moves up. Thats a clever tactic, if you don't want to run out of coins and quite harmless to the natural market movements.

So yes, the dump always comes out of the blue, but the current unloader does not intent to cause any setbacks. On the other hand, if someone was not babying the panickers now swing would go wilder and the panic would spread, not good either!
 

[cypherdoc]

Well, It hit thirty, Your wrong

lol

[cbeast]

Let us hope Bitcoin never reaches $30 again.

[Luno]

There also is the psycology about the price now, as there was as we approached 30 a few days ago.

I can't imagine that anyone caught in the last crash are still in it for the money so close to their break even price. Nither anyone new buying the last few days for the first time is going to cash out after a 3 Dollar rise.

The last category: The ones that didn't loose enough in 2011 to want to get completely out of Bitcoin or are in it, because they "believe" know that we need to get above our last all time high, and stay there if Bitcoin is going to survive.

Another crash now, even for only a few days, would make headlines and start the Bitcoin FUD articles all over again. There is no coming back a third time.

[cbeast]

There also is the psycology about the price now, as there was as we approached 30 a few days ago.

I can't imagine that anyone caught in the last crash are still in it for the money so close to their break even price. Nither anyone new buying the last few days for the first time is going to cash out after a 3 Dollar rise.

The last category: The ones that didn't loose enough in 2011 to want to get completely out of Bitcoin or are in it, because they "believe" know that we need to get above our last all time high, and stay there if Bitcoin is going to survive.

Another crash now, even for only a few days, would make headlines and start the Bitcoin FUD articles all over again. There is no coming back a third time.

Meh, Bitcoin doesn't care what you think. It is a decentralized distributed network. It will come back again, and again, and again. Then more people will have a chance to become early adopters. That is, unless Ripple... nevermind.

[Luno]

Bitcoin is not only math, It's people.

Though stability and "soft" waves is not a requirement for the protocol to work, it certainly is for an economy.

How many, in the perception of the public that have never used Bitcoin, Pump and dumps before Bitcoin is written off as un reliable?

It's like an ASIC producer that keeps promising to deliver, but sets a new date every month! (Bad example, this trick apparantly works an unlimmeted number of times.)

[cypherdoc]

There also is the psycology about the price now, as there was as we approached 30 a few days ago.

I can't imagine that anyone caught in the last crash are still in it for the money so close to their break even price. Nither anyone new buying the last few days for the first time is going to cash out after a 3 Dollar rise.

The last category: The ones that didn't loose enough in 2011 to want to get completely out of Bitcoin or are in it, because they "believe" know that we need to get above our last all time high, and stay there if Bitcoin is going to survive.

Another crash now, even for only a few days, would make headlines and start the Bitcoin FUD articles all over again. There is no coming back a third time.

Meh, Bitcoin doesn't care what you think. It is a decentralized distributed network. It will come back again, and again, and again. Then more people will have a chance to become early adopters. That is, unless Ripple... nevermind.

Ripple doesn't have a chance.

[Luno]

Buying is ten to twenty times more intense now than 16 months ago, so maybe we have passed the point where it is likely that any early adopter being capable of crashing the market would not have found other investments for his bitcoins in the past months and thus have them tied up in real Bitcoin business?

There is still a possibility, but a guy sitting on 1/4M BTC after the first crash would not bet that it would work a second time and find more profittable use of his coins in the mean time.

[TraderTimm]

Once things truly get going, and people are getting paid in bitcoin, it will be hard to turn back. Having goods and services priced in bitcoin will mean the "edge" exchanges will be needed less, since they have served their purpose "bridging" currencies.

We won't be looking at the traded price anymore, perhaps only to laugh at the rest of the stubborn fools who couldn't see the potential of the system. Like someone still stuck on dialup, listening to the screeching handshake of a distant modem down the wire.

[piramida]

Once things truly get going, and people are getting paid in bitcoin

Like that you mean? http://venturebeat.com/2013/02/22/internet-archive-starts-accepting-bitcoin-donations-for-employee-pay/

[SgtSpike]

OP is now correct.

[Fuzzy]

OP [will one day be correct]

 

[SgtSpike]

OP [will one day be correct]

 

Is now correct.  From this moment on, Bitcoin will never reach $30.00.

[Beans]

Agreed.  Ok, $20. But $30... Impossible!

Yeah, that would be crazy

[Richy_T]

I don't think there was even time for a "Bitcoin will never hit $40" thread.