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Author Topic: Do you think the rally is over now... or very soon?  (Read 15717 times)
afbitcoins
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March 15, 2013, 11:36:06 AM
 #201


Yes it is possible the rally is over because we are near the top of a long term rising channel. However I personnally think the rally is not over yet, there could be a breakout past $50 in the near future and then much higher prices to come.

From my blog



I think we'll get t third attempt to breakout, which if it fails will rebound back strongly yet again, we'll breakthrough at some point in the near future.
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March 15, 2013, 01:25:45 PM
 #202

There is a huge resistance now in $48-49. Rather pointless to buy short term now. For long-term accumulation (especially with megabuck$) this is a good area with stable prices.

The support is around $30 and inching up. I don't really see a crash right now towards the support line, but my inability to see has never stopped the crash from happening.

Imo, many want to sell as the rally has stalled. They will find buyers at around these levels for weeks to come. When $40 or $50 is breached, we will see some serious price action Smiley
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March 15, 2013, 01:40:45 PM
 #203


Yes it is possible the rally is over because we are near the top of a long term rising channel. However I personnally think the rally is not over yet, there could be a breakout past $50 in the near future and then much higher prices to come.

From my blog



I think we'll get t third attempt to breakout, which if it fails will rebound back strongly yet again, we'll breakthrough at some point in the near future.

AF I really liked your blog and posted your last entry in a fb group I am admin (Bitcoin Greece).

Keep up posting there I will cover you...
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March 15, 2013, 04:13:05 PM
 #204

AF I really liked your blog and posted your last entry in a fb group I am admin (Bitcoin Greece).

Keep up posting there I will cover you...

Thanks klee I appreciate your comment very much Smiley

I think bitcoins could become very important in the future particularly in countries such as Greece which are being oppressed via control of money, ie the euro in that instance.
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March 15, 2013, 07:30:38 PM
 #205

I've said it before and I will say it again.

If the price is to rise, who the fuck is buying?

I do believe bitcoin can rise $1k+ but that will NEVER happen when buyers are dependant on exchanges like mtgox.

The explosion begins once aunt jane can buy it with her credit card and bitcoin addresses are as simple as jane@coinbank.btc

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rpietila
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March 15, 2013, 07:41:53 PM
 #206


Institutions such as this one will pop up, and start buying in lots of $million:
https://www.silverbank.net/

I've said it before and I will say it again.

If the price is to rise, who the fuck is buying?

I do believe bitcoin can rise $1k+ but that will NEVER happen when buyers are dependant on exchanges like mtgox.

The explosion begins once aunt jane can buy it with her credit card and bitcoin addresses are as simple as jane@coinbank.btc
Richy_T
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March 15, 2013, 07:55:32 PM
 #207

I've said it before and I will say it again.

If the price is to rise, who the fuck is buying?

I do believe bitcoin can rise $1k+ but that will NEVER happen when buyers are dependant on exchanges like mtgox.

The explosion begins once aunt jane can buy it with her credit card and bitcoin addresses are as simple as jane@coinbank.btc

No reason it couldn't...
Quote
$ dig rich.blahblahblah.com txt

; <<>> DiG 9.4.1 <<>> rich.blahblahblah.com txt
;; global options:  printcmd
;; Got answer:
;; ->>HEADER<<- opcode: QUERY, status: NOERROR, id: 25563
;; flags: qr rd ra; QUERY: 1, ANSWER: 1, AUTHORITY: 5, ADDITIONAL: 17

;; QUESTION SECTION:
;rich.blahblahblah.com.               IN      TXT

;; ANSWER SECTION:
rich.blahblahblah.com.        1800    IN      TXT     "13qnEgPTxJW6mm88dLpnHXZyryN5EXBciq"

Though I think firstbits has a lot of mileage. Perhaps a combination of the two.

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March 15, 2013, 07:57:07 PM
 #208

I've said it before and I will say it again.

If the price is to rise, who the fuck is buying?

I do believe bitcoin can rise $1k+ but that will NEVER happen when buyers are dependant on exchanges like mtgox.

The explosion begins once aunt jane can buy it with her credit card and bitcoin addresses are as simple as jane@coinbank.btc

You are so bang on the money with that last sentence.
afbitcoins
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March 15, 2013, 08:49:22 PM
 #209

The explosion begins once aunt jane can buy it with her credit card and bitcoin addresses are as simple as jane@coinbank.btc

I think there'll be several explosions on the way up before that point, each one orders of magnitude bigger than the last. This one might be fuelled by smart investors who are just starting to see the potential.
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March 16, 2013, 01:53:34 PM
 #210


The explosion begins once aunt jane can buy it with her credit card and bitcoin addresses are as simple as jane@coinbank.btc

I seem to remember one of the webwallets I used in the past had a feature where you could send btc to an email address, if that email address did not already have an account with this service then they would send an email to the email with directions on how to open an account and claim the btc sent.

To answer OP: Yes, I think the rally has ended and we are at the plateau stage again. See how the price spiked up about march 7th, and we have been consolidating ever since.

Use CoinBR to trade bitcoin stocks: CoinBR.com

The best place for betting with bitcoin: BitBet.us
jwzguy
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March 16, 2013, 06:55:11 PM
 #211

I do believe bitcoin can rise $1k+ but that will NEVER happen when buyers are dependant on exchanges like mtgox.

The explosion begins once aunt jane can buy it with her credit card and bitcoin addresses are as simple as jane@coinbank.btc

We're already basically there with Coinbase.

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March 16, 2013, 07:21:03 PM
 #212

Yes, and with Silvervault you can also buy BTC directly by just depositing your trading bank account, no ordering process necessary. (In beta for partners only at this stage)

https://www.silverbank.net
molecular
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November 17, 2013, 03:58:03 PM
 #213

Assuming that the two boom patterns should be similar (i.e. the whole thing be a fractal) - then the second is still very far from the top, it still might grow maybe 10 times.

Exactly. In my opinion the current situation is at most a "small bubble", meaning that there can be a correction, but it's unlikely to be a deep one. To experience a "massive bubble" we would need to see the all time high broken and then panic buys from there. That is the point when it's smart to become skeptical.

there have been 3 "steps" in the 2011 runup to the bubble (from base of about $1):

  • the jump to $2
  • the jump to $4
  • the jump to $9

So the top of the current bubble is either 450, 225 or 100 depending what "jump" the current one is similar to.

I don't believe in this fractal stuff applying to markets somehow, though.

This is quite interesting to recall.

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November 17, 2013, 04:10:46 PM
 #214

Just note that every significant "crash" in the past has been triggered by major exchange failure.
Now, to achieve similar results you would need to have all the exchanges down/hacked at the same moment.


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November 17, 2013, 04:11:49 PM
 #215

Just note that every significant "crash" in the past has been triggered by major exchange failure.
Now, to achieve similar results you would need to have all the exchanges down/hacked at the same moment.


I disagree the 2011 crash was caused by exchange failure. It's debatable, but the mtgox hack and week-long shutdown was well after the top was reached.

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November 17, 2013, 04:13:16 PM
 #216

Great thread to dig up. Its always amusing to read posts calling the top, even below the $50 low of the crash.
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November 17, 2013, 04:14:48 PM
 #217

By the way, all the previous "crashes" now can be interpreted as huge long lasting bear traps.
Only bears were affected, not hoarders.

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November 17, 2013, 04:42:24 PM
 #218

Yeah I was pretty confident it would end up looking that way. Nice to be proven right.  Grin
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November 18, 2013, 08:14:34 AM
 #219

Just note that every significant "crash" in the past has been triggered by major exchange failure.
Now, to achieve similar results you would need to have all the exchanges down/hacked at the same moment.


I disagree the 2011 crash was caused by exchange failure. It's debatable, but the mtgox hack and week-long shutdown was well after the top was reached.



I think that neither was the "first crash of 2013". It was a bubble, it deserved to pop. It popped. Here we are. Soon we have a bubble. Then it will pop. Etc. etc. Circumstances have their role but they do not change the fundamentals nor the technicals.
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March 04, 2014, 03:41:47 PM
 #220


Just need someone to buy up those last 8000 BTC:


their will be 8000 more at 31

haven't you noticed this whole rally has been buy out one more wall and its going to explode UP, one more wall , one more wall , one more wall ,one more wall.

Thing is: I don't want it to explode. And it's not exploding.... a good thing.

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