Price Chart: April 9th = $200, April 15th = $300

[BitcoinTate]

Given the massive influx of people into BTC and the amount of media attention it has received in the last two weeks I predict BTC will hit $200 by April 9th and $300 by April 15th if the current trend continues.

If you look at the massive rise in Google searches for BTC along with the BTC client download increase and the 60,000 new accounts at Mt. Gox last month I believe the upward exponential trend will continue for at least two more weeks. There is a lot of capital right now waiting to flood into BTC.

Right now the wall at $300.00 is 44.88K BTC. So that's 44,880 BTC x $300 = $13,464,000.00

60,000 new accounts last month x $1,000 per new account = $60,000,000.00.

BTC is way under valued!


Small Red Horizontal Lines = Previous flash crash bottoms.

Black Trend Lines = 1 set for upper values, 1 set for flash crash bottom values.

Gray Trend Lines = Attempt at exponential trend line increase.

Green Dot = Price prediction point for $200 and $300.

Historically big price increases tend to occur on Mondays and Tuesdays after deposits clear from the weekend which is why I pick the 9th and 15th.

Please forgive the crudeness of the chart. Bears, what say you? Tell me why it wont happen?

EDIT: 4/8/2013:
A a few more hours to go till $200! Right on time! If you feel the urge to donate to my beer fund, here ya go 16b43ukSUTNSfN5Yt4XgnYqdg8kEGoBf2s

EDIT: 4/9/2013
In the wee hours of April the 9th in the year of our Lord Darth Tater two thousand thirteen.... $200.000 baby!!!!

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[XXthetimeisnowXX]

maybe explain the chart more, for those of us who want more layman terms understanding. I think i get it though

[BitcoinTate]

maybe explain the chart more, for those of us who want more layman terms understanding. I think i get it though

Is that better? Or do you still have questions?

[Manticore]

I can't tell if this is a joke......but no, $200 and $300 are not happening by their respective dates.

[BitcoinTate]

I can't tell if this is a joke......but no, $200 and $300 are not happening by their respective dates.

Three weeks ago people would have said $147 was a joke.

[thomashrev89]

I can't tell if this is a joke......but no, $200 and $300 are not happening by their respective dates.

Three weeks ago people would have said $147 was a joke.

second that. 300usd @ 15 april is realistic

[Manticore]

I said in various posts three or four weeks ago that this could easily go up to three digits (although I was cautious), so I don't think it was that far fetched.

The problem here is that you are assuming those account holders will be indiscriminately buying bitcoins at market price. Doubtful.

I'd like to know more about these accounts. Is 57000 the number of bonafide, funded accounts? Or does it include people that have simply signed up out of curiosity? I know several people that signed up at Mt. Gox but never funded their accounts.

[BitcoinTate]

I said in various posts three or four weeks ago that this could easily go up to three digits (although I was cautious), so I don't think it was that far fetched.

The problem here is that you are assuming those account holders will be indiscriminately buying bitcoins at market price. Doubtful.

I'd like to know more about these accounts. Is 57000 the number of bonafide, funded accounts? Or does it include people that have simply signed up out of curiosity? I know several people that signed up at Mt. Gox but never funded their accounts.

Good point. But it only takes 1 person to dump 10 million in

[Aseras]

One single moderately wealthy person could take the price to 1000 or drop it to almost nothing. If they moved all in or out of the market.

[deeplink]

I said in various posts three or four weeks ago that this could easily go up to three digits (although I was cautious), so I don't think it was that far fetched.

The problem here is that you are assuming those account holders will be indiscriminately buying bitcoins at market price. Doubtful.

I'd like to know more about these accounts. Is 57000 the number of bonafide, funded accounts? Or does it include people that have simply signed up out of curiosity? I know several people that signed up at Mt. Gox but never funded their accounts.

Good point. But it only takes 1 person to dump 10 million in

I see 1 account atm is putting up $1M ask walls at MtGox.

[Manticore]

I said in various posts three or four weeks ago that this could easily go up to three digits (although I was cautious), so I don't think it was that far fetched.

The problem here is that you are assuming those account holders will be indiscriminately buying bitcoins at market price. Doubtful.

I'd like to know more about these accounts. Is 57000 the number of bonafide, funded accounts? Or does it include people that have simply signed up out of curiosity? I know several people that signed up at Mt. Gox but never funded their accounts.

Good point. But it only takes 1 person to dump 10 million in

True, point taken.

I've debated several people on other threads who think that hedge funds will magically drive the price of bitcoin up by multiples.....but one has to assume that anyone injecting a large sum (fund manager or private individual) is probably smart enough to realize the incredible risk involved in single handedly driving the price up to astronomical levels. BTC is not liquid enough for big movers.

The best all of these speculators can hope for is having masses of little people nibble at the market to keep the price up. This sea is too shallow for whales.

[Manticore]

Why does everyone think that wealthy investors are idiotic enough to single handedly drive the price up 10x? Why would anyone do that in a relatively illiquid market (at those quantities/levels)?

[smoothie]

I said in various posts three or four weeks ago that this could easily go up to three digits (although I was cautious), so I don't think it was that far fetched.

The problem here is that you are assuming those account holders will be indiscriminately buying bitcoins at market price. Doubtful.

I'd like to know more about these accounts. Is 57000 the number of bonafide, funded accounts? Or does it include people that have simply signed up out of curiosity? I know several people that signed up at Mt. Gox but never funded their accounts.

This little piggy stayed at home,
This little piggy had roast beef,
This little piggy had none.
And this ^ little piggy went...
"Wee wee wee" all the way home...


because he sold his bitcoins < $35, $50, $75, $100, $125

 

[BitcoinTate]

I could see someone with a lot of money dumping 10 million in purely for egotistical reasons. Just to mess with Bitcoin.

[Manticore]

I could see someone with a lot of money dumping 10 million in purely for egotistical reasons. Just to mess with Bitcoin.

I'm sorry you're having those delusions. Wealthy people are often much more frugal and/or careful than the average person, especially when it comes to their investments. How long would someone stay wealthy if they threw money around at every little deal that popped on their radar screen simply for the sake of ego??

Sure, it's possible we could go up higher than $300 one day......but not by April 15th.

Increased use of bitcoin for its utility is what will ultimately bring us higher in meaningful way. I wouldn't waste time hoping for some sort of dimwitted, wealthy savior to bring BTC up to $1000.

[pera]

I am with BitcoinTate: "bitcoin" is now the most searched term in Google Israel, MtGox+CoinLab, Bitcoin ATMs, news everywhere (including from Mastercard)..
I only hopes this is not growing "too fast".

[deeplink]

I am with BitcoinTate: "bitcoin" is now the most searched term in Google Israel, MtGox+CoinLab, Bitcoin ATMs, news everywhere (including from Mastercard)..

You hear that, Mastercard? That is the sound of inevitability.

[Manticore]

I am with BitcoinTate: "bitcoin" is now the most searched term in Google Israel, MtGox+CoinLab, Bitcoin ATMs, news everywhere (including from Mastercard)..

You hear that, Mastercard? That is the sound of inevitability.

I'm not even sure what this blogger at Mastercard has to do with anything other than someone blogging about a topic that's been in the news (unless I missed something, please enlighten me).

I am bullish BTC, but this media driven speculation + hoarding is not helping BTCs long-term prospects IMO. I personally don't believe it can exist as a purely speculative asset. I would much rather see a gradual rise. There is too much risk in buying into a parabola.

If you care about BTC, you really don't want it to go to $300 by April 15th......

[Qoheleth]

Why do people draw straight lines on linear charts? I'd expect any real trends to be more relative (and thus, logarithmic).

[Manticore]

I assumed this chart was part of the joke....