All quiet on the Western front

[Zangelbert Bingledack]

It's just working off the recent faster-than-exponential growth spurt triggered by passing the all-time high at $32. Catching its breath, so to speak, before reverting to its exponential trendline to take the psychologically relevant $50 milestone. I'm guessing there's a 70% chance it will break $50 this week, and a 90% chance it will get there by the end of next week.

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[Vladimir]

I would guess that from very trivial TA (the most effective kind) point of view it is just "waiting" for a moving average to catch up i.e. as you just said "catching its breath" and it will bounce up from it.

http://bitcoincharts.com/charts/mtgoxUSD#rg90zigDailyztgSza1gEMAzm1g10za2gEMAzm2g25zv

Such market behavior is also known among pros as "correction by time".

[Endgame]

Looks like we're finally stabilising. I'm sure it won't last long, one way or the other, but I for one will enjoy it while it does.

[bonker]

I would say that BTC is undervalued right now. It will go over 50 in few days.

^^^^^^^^
What this geezer said. BTC price coiling up for a push past 50 I reckon.

[acoindr]

I guess I expected the price to be more volatile. For example, the market for, say, silver is much larger than btc, yet currently it is more volatile. It seems strange to me that such a relatively tiny market can be so stable.

This is a good point, but I think the BTC market is structured far more efficiently. With BTC pretty much everything is a 1:1 correlation, sender to receiver, trader to exchange, etc.  A lot of time wasting and bs is cut out (market hours, brokerages etc.). Also many people say the metals markets are manipulated anyway.

[Vladimir]

... and Bitcoin quietly makes another all time high 49.79$.

[ehoffman]

49.949!

Edit: 50!!!!!!!!!!!!!!!!!!!!!!

[jhansen858]

Well I have to admit it, I was wrong and I'm 100% blown away.  Its the last time I bet against the bitcoin.  After hours of reseaarch, I had pulled my coins at 47 convinced, this was was the peak, only to have them surge to 53 the next day.  I'm getting back in at the higher price, taking the hit, licking my wounds and just going to put them away in cold storage and come back two years from now.  This trying to eek a bit more profit from day trading is stupid and I just wasted 10 btc in the effort. Oh well.  My advice, don't bet against the bit coin.  you will lose every time.   

[BTC Books]

Well I have to admit it, I was wrong and I'm 100% blown away.  Its the last time I bet against the bitcoin.  After hours of reseaarch, I had pulled my coins at 47 convinced, this was was the peak, only to have them surge to 53 the next day.  I'm getting back in at the higher price, taking the hit, licking my wounds and just going to put them away in cold storage and come back two years from now.  This trying to eek a bit more profit from day trading is stupid and I just wasted 10 btc in the effort. Oh well.  My advice, don't bet against the bit coin.  you will lose every time.   

Yeah.  Takes awhile to get that one, sometimes.

But don't stop spending them...

[bonker]

I would say that BTC is undervalued right now. It will go over 50 in few days.

^^^^^^^^
What this geezer said. BTC price coiling up for a push past 50 I reckon.

^^^^

I'm getting good at this prediction lark. Kudos donations here please: 1FU1EX4xCEt26rezoNaEZ1rhbqA4VVP8pq