When we hit the old ATH -- pullback or slide through?

[Joe200]

The previous all time high of 1210 was made on Nov 30, 2013.

What happens when we reach that price this time? Is there pullback? Resistance? Or does the price just slide through as if it was nothing?

Speculate and back up your speculations.

[MahaRamana]

The previous all time high of 1210 was made on Nov 30, 2013.

What happens when we reach that price this time? Is there pullback? Resistance? Or does the price just slide through as if it was nothing?

Speculate and back up your speculations.

On which exchange was this price attained ?
My sources say the ATH was 1125.

MtGox should not be considered because people could not actually get out.

[Joe200]

Yes, this was Gox. VWAP 1209.94. BTC volume 14782.96.

Regardless of the exchange, what happens now when we get there?

[steven0021]

Depends on the when (and other random factors which doesn't get counted when speculating). If it happens too fast it may become unsustainable and we may see some price drop. If the price get there slowly with some stable price stages along the way then I think the price have a decent chance staying there. I think.

[MahaRamana]

It is just speculation and speculation can only be backed up by more speculation.

Last time we broke the ATH that was 266, we went to make a new ATH 4 times higher. However, the market was being manipulated by MtGox therefore we cannot use the past to predict the future.

I believe there will be a fast price increase after we hit 1100 USD again. I believe we'll go firmly beyond 1500 USD in 2017.

[Traslavin]

Depends on the when (and other random factors which doesn't get counted when speculating). If it happens too fast it may become unsustainable and we may see some price drop. If the price get there slowly with some stable price stages along the way then I think the price have a decent chance staying there. I think.

That is right. I think it might happen in the second quarter.

[piramida]

MtGox should not be considered because people could not actually get out.

At the time of ATH, they still could.

As to what happens, there most definitely be a pullback/resistance around that level as with any psychological resistance, might even sharply drop below $1k. Then the rally will continue. This has played out numerous time at approximately exactly the same scenario.

[Leonard2016]

The previous all time high of 1210 was made on Nov 30, 2013.

What happens when we reach that price this time? Is there pullback? Resistance? Or does the price just slide through as if it was nothing?

Speculate and back up your speculations.

nobody can tell for sure.
we may go to $2000 directly from there and there may be so many troubles staying up there.
my guess is that many will start selling above $1000 and make it hard to rise for a while.

[amacar2]

What happens when we reach that price this time? Is there pullback? Resistance? Or does the price just slide through as if it was nothing?

I think there will be resistance rather than a pullback. And it may take few days/weeks or even months for price to pump again because there are lots of traders who like to pull out their profit but i don't think we will see any huge dump may be small correction.

[1Referee]

I am fairly sure that at the time the price happens to come close to reaching $1000, that large players will set up large sell walls just before $1000 in order to not let it reach that level. In that regard, I believe that breaking through the $1000 barrier will be the most difficult target. Even if we happen to reach that level at some point, it won't be maintained for long. It will need several attempts to finally settle above $1000. But as soon as that is done, I am fairly confident that we will break through the old ATH without much problems several months later. The only certain thing is that we can wildly speculate in advance, but only time will tell what will happen.

[Joe200]

Why 1000 and not 1200? Just because it's a rounder number?

[pooya87]

Why 1000 and not 1200? Just because it's a rounder number?

maybe but mainly it is because selling is mostly a mentality thing
looking around i keep seeing people waiting for the $1000 and praying to the old gods and the new! to see that price and start dumping.

that is why to your main question i say most probably there will be a big resistance starting from $1000 specially if it happens in a short while (not if it happens after a couple of months!!)

[BitcoinBarrel]

Straight to $5k then slowly back to $2k

[Lantind]

The previous all time high of 1210 was made on Nov 30, 2013.

What happens when we reach that price this time? Is there pullback? Resistance? Or does the price just slide through as if it was nothing?

Speculate and back up your speculations.

The old all time high of 1210 is a manipulated price, it has no real value, just a psychological one. 1200 is more important.

[deadsilent]

We cant tell how this story is going. Its very hard to predict like a suspense movie. Maybe we will hit the all time high or more than that. Or maybe we wont make it to the all time high. Maybe the price will just slide down. That depends on people who are willing to buy or hold bitcoin. Big whale affects a huge percentage on bitcoin price. If they dump their holdings, we are going back again from the start.

[rogerwilco]

No matter what happens, it will be impossible to prove the old ATH has anything to do with it.

There are new traders, new markets, new exchanges, new infrastructure... the best you can argue is some kind of psychological impediment but there are plenty of other market forces besides that, and many people who don't care since they weren't around back then.

So while I don't know what the market will do at that level, I will be more inclined to attribute what it does to things other than what happened in 2013.

[Herbert2020]

i think there are only two possibilities either that slide through is a big breakout and price goes to a crazy number like $1500-$2000 in a very short time and we see another bubble shape up shortly after.

or there is going to be another excruciating period of bitcoin price playing jump rope with the $1000 by going above and under it over and over.

i personally think the second scenario is more possible to happen.

[Kevin77]

Before new year !!
Pullback will be certainly possible and it may last till $800 price levels but only after testing above $1200 levels.

At the same time we do witness sustaining prices around $890 to $910 levels yesterday all trading hours, it may trigger to further sustaining prices then we may get some delay in achieving new any time high price levels

But, personally I love sustaining prices as it gives strong foundation for another great rally.

[thejaytiesto]

Why 1000 and not 1200? Just because it's a rounder number?

Both 1000 and 1200 are mental numbers. 1000$ because it's a strong psychological barrier, a lot of people get scared when we get near there, as you can see it's correcting a bit right now, not a bad thing, let the price accommodate.

1200 is the ATH, so another psychological barrier. I think there will be a dip, smart people will buy it, dumb people will miss it and once we get past the ATH+ for good they will be left with no bitcoins to hold.

[Przemax]

Testing the support will be necessary when we will reach the 1200, but it all depends on circumstances. We could easily go to 1500 usd and test the support at 900 in one or few days. It all depends on the dynamics. But we will need to wait a lot for that to happen it seems.