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Author Topic: 6/15 Difficulty Increase & current price volatility  (Read 2274 times)
bitcoinminer
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June 12, 2011, 03:17:44 AM
 #1

So bitcoinwatch is predicting a 40-50% difficulty increase by my guesstimate sometime early Wednesday morning.

My thoughts, which are complete guesses in the dark, with all the volatility, I think we're going to see the price settling back down around $14/BTC, and then I think it will slowly creep back up towards 20 over the next week or so.

I was a little alarmed at first with it dropping like a rock, but looking at the market depth, there are hundreds of thousands of dollars waiting in the $8.00-$10.00 range on the bid side, which tells me a lot of people are looking for a new floor to jump back in.  I think a lot of people cashed out at those higher prices, and are sitting on their USD waiting for the correction to sort itself out.  I think we'll briefly see it touch down to 7 or 8$ this weekend, and then mon/tues/wed we'll see heavy volume with slow increases up to around $14, and then see it test $18-$20 over the next week or two.

These are all just gut feelings, I just wanted to put this down in writing, so I can look in a week or two and see if my gut instincts are correct.

Be fearful when others are greedy, and greedy when others are fearful.

-Warren Buffett
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imperi
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June 12, 2011, 03:21:59 AM
 #2

My gut feelings, closing prices:

Day       $/BTC

Sunday:       10-13
Monday:       14-16
Tuesday:      17-19
Wednesday:  16-20
Thursday:     20-24
klamathonsite
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June 12, 2011, 03:34:30 AM
 #3

I agree I posted some one instantly took my post away wow talk about  freedom of speech NOT,
I wanted to get my feelings out and someone with allot of BTC that probly contributed to the drop of the btc value is deleting my post. Bow keep show your true colors.
Im not trolling not like everyone that brand new.
I was expressing the value and the trust now compared to cost of mining after Difficulty goes up monday or so.

Wont be worth cost wise to even try if the value is so low if my opinion is wrong then post dont delete thats acting llike scared little btc seller.
Oldminer
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June 12, 2011, 04:54:25 AM
 #4

I agree I posted some one instantly took my post away wow talk about  freedom of speech NOT,


Ive been trying to reply to a post to help a newbie for the last 10 minutes but get a message saying I've already replied (which a refresh of the page shows I havent) or saying Ive replied within the last 300 seconds which I havent..very annoying..

If you like my post please feel free to give me some positive rep https://bitcointalk.org/index.php?action=trust;u=18639
Tip me BTC: 1FBmoYijXVizfYk25CpiN8Eds9J6YiRDaX
imperi
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June 12, 2011, 04:57:57 AM
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I got that too recently!! So I logged into my corporate VPN and now it's fine. I couldn't tell if it was a bug or if my IP got banned for trolling.
bitcoinminer
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June 12, 2011, 07:00:37 PM
 #6

what a crazy market this bitcoin business is.

Be fearful when others are greedy, and greedy when others are fearful.

-Warren Buffett
flug
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June 12, 2011, 07:22:25 PM
 #7

what a crazy market this bitcoin business is.

it's a journey
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