Bitcoin to rally to $50+

[niemivh]

And like I just posted, the adoption of BTC right now is most a small subsection of geeks and computer-literate who can read and understand what BTC is and how it works.  To the average person it must seem completely hokey, to others who find about it later don't want to get into a market this volatile.  What other demographics of people that have yet to hear about BTC are going to be willing to buy in to BTC at a $20 - $30 price range with the 'legal system' still out to lunch regarding what to do about these markets?  That truly is the question we should be asking ourselves.

[Oldminer]

We should also be asking ourselves when the price will bottom out again so we can buy.

I'm of the opinion it already has.

[iCEBREAKER]

We should also be asking ourselves when the price will bottom out again so we can buy.

You can see resistance to price movement on mtgoxlive.com.

See that wall of downside resistance at $20? 

See that green line bouncing sharply off the $20 line?  That was the local bottom.

The nearly instant recovery from $20 is a very bullish sign!

I've got buy orders at $18.50.  That's the price floor we need to protect to avoid a crash to below $15.

If you want to help maintain the value of bitcoins and prevent chart damage, put some of your mtgox profits back into bitcoins at the price levels where resistance is highest.

Look for the orange cliffs and stand guard over those walls. 

Sell the rips, and buy the dips.  Raise loads of cash and FOR THE LOVE OF MERKLE HELP ME HOLD THE LINE.

[TraderTimm]

I'd buy it with both hands around 25. Hell, I already have.

Stick to your guns, we'll be laughing about how this price level got left in the dust a few weeks later.

[bitcoinBull]

We should also be asking ourselves when the price will bottom out again so we can buy.

You can see resistance to price movement on mtgoxlive.com.

See that wall of downside resistance at $20? 

See that green line bouncing sharply off the $20 line?  That was the local bottom.

The nearly instant recovery from $20 is a very bullish sign!

I've got buy orders at $18.50.  That's the price floor we need to protect to avoid a crash to below $15.

If you want to help maintain the value of bitcoins and prevent chart damage, put some of your mtgox profits back into bitcoins at the price levels where resistance is highest.

Look for the orange cliffs and stand guard over those walls. 

Sell the rips, and buy the dips.  Raise loads of cash and FOR THE LOVE OF MERKLE HELP ME HOLD THE LINE.

Amen!

[CoinMonster]

I didn't read page 2 or 3, but I dunt thinks I need to.

Bitcoin fell from USD 30 to USD 23 today + some of yesterday because Silk Road closed registration. It's that simple.

[imperi]

I think it is bottomed out right now, +/- $1.

[Nesetalis]

it hit something like 10.50 last night :p

[imperi]

it hit something like 10.50 last night :p

It was undervalued and I don't think that will happen again.

[mrpetem]

Just thought I would add my view.
The only real value of bitcoin at the moment is speculation. Everything always boils down to supply and demand. Eventually bitcoin will stabalise as the market starts to agree on the value of a bitcoin. Because it is early days, we will see massive jumps in price due to increase of market participents plus people holding onto their bitcoins selling when price looks tasty. Anyone that says there is no danger of bitcoin crashing and just going into the history books as a failed currency, should be carefull. I would however tend to agree that bitcoin is most likely here to stay, at least for the medium term. There would not even need to be an adoption of it as a currency/payment for it to sustain itself, since it has become a tradable asset.

[goodlord666]

quite possible

[Klestin]

We should be asking when other currency's stability will start to be judged by their exchange rate to Bitcoin.

[unclemantis]

Because of the impending rise in difficulty, next time Bitcoin rallies its going to top $50US..it may even go to $100

Discuss

I don't see no 50 bucks

[bitcoinbear]

Because of the impending rise in difficulty, next time Bitcoin rallies its going to top $50US..it may even go to $100

Discuss

I don't see no 50 bucks

He didn't give a timeframe there, he just said "next time Bitcoin rallies". I think bitcoin has started going back up again, so maybe he will be right this time around?

[Nesetalis]

wow, zombie thread.

[Frankie]

wow, zombie thread.

Wait, you mean the TradeHill codes in the signatures are no good anymore?

[Francesco]

wow, zombie thread.

they are really useful to remind us not to make certain errors again :p

I'd buy it with both hands around 25. Hell, I already have.

Stick to your guns, we'll be laughing about how this price level got left in the dust a few weeks later.

[Nesetalis]

good point.

[TraderTimm]

wow, zombie thread.

they are really useful to remind us not to make certain errors again :p

I'd buy it with both hands around 25. Hell, I already have.

Stick to your guns, we'll be laughing about how this price level got left in the dust a few weeks later.

My collective basis is way below par, and while I did get stopped out on that particular trade, it wasn't the end of the world. All part of the game. I knew what my risk parameters were and acted on them. I suggest anyone trading BTC to have a fully-formed plan to avoid potential pitfalls.
 

[Nesetalis]

I got lucky, didn't have money to buy bitcoins for most of the bubble.. but then suddenly needed linden on secondlife, sold 3 bitcoins on virwox at the going rate of 10,000 at the time.. which equates to almost 40$ XD a half hour later the price of bitcoins crashed.