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Author Topic: $30 is the new $5  (Read 2763 times)
piramida
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February 22, 2013, 08:22:39 AM
Last edit: February 22, 2013, 08:39:14 AM by piramida
 #1

Here's my prediction - $30 (+/- 10%) would be the new consolidation level for a month or so. Then, once everybody is comfortable and all bears burned through their remaining fat, we continue upwards.

Obligatory future price pic pulled out of behind technical analysis:


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Bit_Happy
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February 22, 2013, 08:35:52 AM
 #2

If $30 is the new $5 then the market is going above $90 and bottoming at $12.
And MtGox will get hacked (really bad) at ~$86.50   Shocked

...or perhaps this is a new type of reality.

FYI: We are <snip>
piramida
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February 22, 2013, 08:42:37 AM
 #3

If $30 is the new $5 then the market is going above $90 and bottoming at $12.
And MtGox will get hacked (really bad) at ~$86.50   Shocked

...or perhaps this is a new type of reality.

Yes, going to $180 and then bottoming to $12 when Japanese govt arrests Mark Karpeles for tax evasion and closes MtGox.

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February 22, 2013, 08:47:19 AM
 #4

Well, ATM all walls are pulled. Let's see if the market is bullish or bearish by it self? Looks bullish!
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February 22, 2013, 08:52:11 AM
 #5

If $30 is the new $5 then the market is going above $90 and bottoming at $12.
And MtGox will get hacked (really bad) at ~$86.50   Shocked

...or perhaps this is a new type of reality.

Actually, something along these lines is what I half expect to happen. Maybe with extra insanity here and there but with a slightly more mature market behaviour than the last time.
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February 22, 2013, 09:05:52 AM
 #6

If $30 is the new $5 then the market is going above $90 and bottoming at $12.
And MtGox will get hacked (really bad) at ~$86.50   Shocked

...or perhaps this is a new type of reality.

Real is gonna change!
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February 22, 2013, 09:58:57 AM
 #7

I don't think it will go like that. The all time high is less than 2 dollars away. It has enormous psychological effect, and it could spark a media blaze. It could get crazy sooner rather than later. We'll see I guess.

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February 22, 2013, 10:59:09 AM
 #8

We will break the ATH soon, but there will be a pause then. Of course, I can be totally wrong, but I feel we are reaching a point of balance.

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February 22, 2013, 11:01:12 AM
 #9

We will break the ATH soon, but there will be a pause then. Of course, I can be totally wrong, but I feel we are reaching a point of balance.

i have the same expectations

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February 22, 2013, 12:33:26 PM
 #10

If $30 is the new $5 then the market is going above $90 and bottoming at $12.
And MtGox will get hacked (really bad) at ~$86.50   Shocked

...or perhaps this is a new type of reality.

Actually, something along these lines is what I half expect to happen. Maybe with extra insanity here and there but with a slightly more mature market behaviour than the last time.

I hope the coinbases, bitinstants and bitpays of the world have all sorts of contingency plans laid out.
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February 22, 2013, 12:44:34 PM
 #11

I also think we'll see a period of holding steady around $30-$32 while everyone who was into bitcoins in the first crash and got in at low prices get out,after that the price will carry on upwards. People who bought at $20+ only to see it crash to $2 will be thankful to get out unhurt and people who bought very low have made 5x or 6x their money, so it's fair enough if they want to get out, but i think after that we will carry on up to $50 region.

Even at $50 the entire bitcoin economy is only valued at $500m which is scary, in my opinion, because it could easily become a $1-5 billion net worth economy. When you look around at all the major bitcoin websites they all seem to be experiencing explosive growth. Coinbase has over 2,700 merchants signed up and growing rapidly, i think they will play a very important part in bringing the "underworld" bitcoin to the mainstream.

That's one thing i like about this "gamble", the price is not based on just one website or one company, it's basically representing the value of the entire bitcoin economy, so certainly has much bigger potential to reach a few billion in value.

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February 22, 2013, 01:04:06 PM
 #12

At $32 there will be a whole shitload of articles on Bitcoin breaking it's All Time High. There is a reasonably good chance that this will attract investors who regard this moment as Bitcoin's coming of age. Although it's never easy to predict the market, I see no reason whatsoever that the current trend upwards is going to slow down.

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February 22, 2013, 01:34:18 PM
 #13

I don't think it will go like that. The all time high is less than 2 dollars away. It has enormous psychological effect, and it could spark a media blaze. It could get crazy sooner rather than later. We'll see I guess.

This. The google search trend will break when this happens.

Bro, do you even blockchain?
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February 22, 2013, 02:13:55 PM
 #14

100's the new 1.

Cents are the new coins.
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February 22, 2013, 02:24:11 PM
 #15

I don't think it will go like that. The all time high is less than 2 dollars away. It has enormous psychological effect, and it could spark a media blaze. It could get crazy sooner rather than later. We'll see I guess.

You wish.
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February 22, 2013, 02:42:35 PM
 #16

I don't think it will go like that. The all time high is less than 2 dollars away. It has enormous psychological effect, and it could spark a media blaze. It could get crazy sooner rather than later. We'll see I guess.
You wish.

Not really, to be honest. A big bubble would cause instability which I don't like. I'm not a trader, I'm not looking out for a bubble to profit from it. I'm interested in long term growth.

What I am doing is observing. That is my observation, nothing else.

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February 22, 2013, 02:45:34 PM
 #17

Since there is lots of people ready to buy with both hands in case of any significant retracement, my guess is that it just goes up.
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February 22, 2013, 02:56:23 PM
 #18

Since there is lots of people ready to buy with both hands in case of any significant retracement, my guess is that it just goes up.

It seems so. This is the definition of a bull market. Corrections are simply a matter of who can, either by skill or luck, time the correction best and buy lowest. Fear of the gap closing in is larger than any fear of a permanent drop. I feel we're actually still in this situation.

Bitcoin would need to experience negative events, bad news, or a real super bubble, to reverse this situation. That's my opinion.

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February 22, 2013, 03:00:26 PM
 #19

That's interesting... I read in the tea leaves that there's a lot of downward pressure on the EUR -- some "descending triangles" all suggesting a sell-off in the "end of March" ballpark.

Looks like April Fool's Day might be pretty big this year. Damn Illuminati and their ridiculous obsession with crowd-pleasing symbolism Roll Eyes ...  Cheesy
Subscribed to come back on April 1 and see how your tea leaves are doing.

Just out of curiosity, blablahblah: do you hold a position in BTC or are you all cashed out to fiat right now?
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February 22, 2013, 03:15:45 PM
 #20

I meant EUR (and other conventional currencies) selling off... and piling into BTC duh, which mysteriously concurs with the OP's forecast Cheesy
Ok! Sorry if it sounded like a BTC selloff. Here's to BTC being worth more than 25 EUR on April 1st!
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