This pump is not sustainable.

[Melbustus]

After cracking a longstanding all time high, bitcoin has never done *less* than a 4500% run *from* the prior all time high. In this case, that'd be ~$5200.

Of course parabolic spikes are not sustainable. But their magnitude in bitcoin has been mind-blowing every time so far. Just look at a 6 year chart.

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[Wendigo]

Bitcoin is at 1120$, wow! I am holding a couple of bitcoin and in half a year the value has doubled. I don't know if bitcoin will dump or pump more. I am clueless. Opinions please?

I am most concerned with some governments moving in and spoiling the rally ultimately forcing people to panic sell and crash the price further than a simple correction. Bitcoin is very fickle and can be swayed by the smallest sign of fear mongering.

[coynedterm]

It cant continue like this, mostly because I need to buy back in lower then I sold $1000 and also because its charts is just going straight up. This is insane.

Actually it is not pump .
This is natural thing . The main reason of increase price is the bulk buy of bitcoin by the China big trader .
The Chinese are making sell of bitcoin at price 77000INR while the actual price in the India is about 75000INR .
So here are more chances to jump from the price 1100$ ( near ) to 1200$ .

[bitjoin]

It cant continue like this, mostly because I need to buy back in lower then I sold $1000 and also because its charts is just going straight up. This is insane.

This price right now is probably not even the bottom, it can continue for a while yet.  Please look over the price history of previous moves. This might not actually be a "bubble" we need more action to confirm.

[severaldetails]

I'm really not sure if it is a pump this time.
I suspect it more to be a reaction on the global acceptance of more and more companies.
Of course, the last two weeks price went extremly high, and smaller drops can not be avoided.
Simply because some people want to withdrawl a bit of their profit.
But the huge crash some expect, I do not see it.

[Its About Sharing]

It cant continue like this, mostly because I need to buy back in lower then I sold $1000 and also because its charts is just going straight up. This is insane.

lol
You are limiting yourself with your language. There is merely an inflow of cash coming in, looking for protection.
I throw out the Technicals (in the end) when dealing with BTC.

[craked5]

You must be new..

Not new enough to not see whats going on. The crash is coming and its coming very soon.

Well what you're saying is a bit like the old "after rain the sunshine". Yes of course, after a pump you got a crash that's how it works ^^
But the interesting fact is that this drop whatever it is might not be so hard as you seem to believe. If you check the chart you'll see that the 1000$ support seems to hold rather nicely (at least last time I saw it). It's.... Surprising to the less, but it's holding. I also thought there would be a crash at the begining that's why I sold some funds after the 1000$ hit, but it seems I was wrong! No reason for it to go below now that people support it. Or at least not too far below. You can expect the 950$ and 900$ to be solid walls and I doubt it will go any further! And you'll see it back to above 1k in not time.
Of course all that I'm saying is just my guess... But halving had to be compensated by some kind of price rise, so you just see it here.

[RobertDeNiro]

After cracking a longstanding all time high, bitcoin has never done *less* than a 4500% run *from* the prior all time high. In this case, that'd be ~$5200.

Of course parabolic spikes are not sustainable. But their magnitude in bitcoin has been mind-blowing every time so far. Just look at a 6 year chart.

If that happens we are all getting rich. But how long do you suppose that could take?

[angaper]

A potential market correction would be perfectly possible right now, but that does not imply an eventual collapse in the price of bitcoin. I really think there are solid bases to expect that the price can be sustained at these levels (+$1,000), although we should never rule out any possible scenario in order to avoid overconfident decisions.

[Melbustus]

After cracking a longstanding all time high, bitcoin has never done *less* than a 4500% run *from* the prior all time high. In this case, that'd be ~$5200.

Of course parabolic spikes are not sustainable. But their magnitude in bitcoin has been mind-blowing every time so far. Just look at a 6 year chart.

If that happens we are all getting rich. But how long do you suppose that could take?

** Note: typo my quote above: 4500% should be 450%. Price target is right, though. **


Well, in 2011 it took about 8 weeks to ramp from around $1 to $32.
In Spring 2013, it took about 6 weeks to get to $266 after cracking the prior ATH of $32.
In Winter 2013, it took about 4 weeks to get to ~$1200 after cracking the prior ATH of $266.

So it happens fast. Most assets are escalator up, elevator down. Bitcoin is the opposite.

[MatDerKater]

It cant continue like this, mostly because I need to buy back in lower then I sold $1000 and also because its charts is just going straight up. This is insane.

Usually with a Bitcoin pump, before the top beings to form, there is a brutal crash followed by a quick recovery. Can't say I have seen anything close to that yet......I reckon $1300 is incoming:

[BillyBobZorton]

Ultimately the market is to decide what is or isn't sustainable. Thus far it is, and it doesn't seem to want to stop. We have seen in the past hour or so, a correction that has went from the current 1139 high to 1077, and this has been yet another dip because we are back at 1130... everyone that is buying all those dips is making tons of money, and the people trying to short them are getting kicked out of the rocket trip, it's sad to see but all the noobs keep panic selling.

[Yuuto]

It cant continue like this, mostly because I need to buy back in lower then I sold $1000 and also because its charts is just going straight up. This is insane.

Well if you are just salty that you lost a few thousand dollars because you didn't buy in, then I really do not know what to say to you. Come on now, just because you didn't catch the pump earlier doesn't mean you have to spread FUD without basis on this forum.

As stupid as your claim may sound, the last part is quite true.

This is insane

[RobertDeNiro]

It cant continue like this, mostly because I need to buy back in lower then I sold $1000 and also because its charts is just going straight up. This is insane.

Well if you are just salty that you lost a few thousand dollars because you didn't buy in, then I really do not know what to say to you. Come on now, just because you didn't catch the pump earlier doesn't mean you have to spread FUD without basis on this forum.

As stupid as your claim may sound, the last part is quite true.

This is insane

He must have probably made money if he sold at $1000, but he could have made more if he waited for $1150.

[CyberKuro]

It cant continue like this, mostly because I need to buy back in lower then I sold $1000 and also because its charts is just going straight up. This is insane.

Hopefully, you didn't sold bitcoin because it had reached $1000 at the time.
I ever did once and regret that, I won't sell any coin because the price but I will if I need money.
You must be so regret to see the price keep climbing and there's no decline peak.
The price persistent stable at $1000 and won't go lower imo, keep hold on tight on bitcoin rocket. We're going to the moon.

[fuckingidiot350]

Lets be honest guys this is going to go crazy and we are only at the beginning.

Some big whales have got bitcoin in their sights.

Lets be clear, mkt cap of bitcoin is like $14BN..

All it would take is a few super rich persons to start getting interested in BTC for the price to be spiking like it is. 

We all know what the global political situation is like. There's a good reason for mega rich people to be buying bitcoin and something tells me that's what's going on.

So...... a price in the $10,000 - $20,000 is definitely reasonable. 

[Soros Shorts]

What kind of moron shorts this?

In the past the peaks have always been marked with wildly fluctuating prices. At this time we are not there yet.

[JimboToronto]

Pump LOL, good one  

Just using the word "pump" indicates cluelessness.

This isn't some stock market game. No individual group or person is "pumping" the price up to lure in suckers.

This is natural growth, a correction after prices being artificially low for almost 3 years.

"Pump and dump" is a fraudulent stock promotion scam, nothing to do with what is currently happening to Bitcoin.

I'll accept calling selling "dumping" because an investor can dump his holdings, but merely buying bitcoins doesn't constitute pumping.

Long time holders are so weak, specially bitcoin holders...

? ? ? The weaklings are those who panic and waste their coins buying fiat.

They succumb to fiat FOMO. "OMG, if I don't buy fiat now, I'll miss out."

[erpbridge]

I am surprised and puzzled to see this high price too. I have no clue on how to make a decision if I should hold or sell the btc I have.But how are you guys not selling, isn't this the perfect price?

[Alley]

Lmao.  This price is nothing.  Wake me up at a 100bn market cap.