Price rise after the weekend?

[massivebitman]

Well if history is anything to go by, the price usually rises after a weekend dip.

Will we see the same pattern this week now that the correction looks to be over?

[blackreplica]

Some would have you believe the correction has only just begun

Edited to include my opinion (rather than that of others)

IMO the (relatively) stabilising price is indicative of buyers and sellers in 'wait & see' mode. This is for a good reason. No one knows where we're going from $100. Bear and bull chants are almost in perfect equillibrium (using this forum and market depth as a proxy)

My view is that from here, any sustained price action below $80 will send us further down and it would take $150 and higher for us to enter rally mode again (no science or fancy charts, just my opinion)

I've taken a neutral-ish position at the moment. When the crash happened I sent some money to the exchange and did some swing trading, netting me some profit (the profit is mostly held as BTC)

I am using my BTC profit as a hedge in case the price goes up . The other 80% of holdings, I am keeping cash for scooping up cheap coins if the price falls. Should that happen, I plan to do most of my buying in at $60 and below.

I guess that makes me short term bearish (but long term bull for sure).

I say long term bull because I have a large holding of BTC (offline wallet, not used for trading) that I will hold for at least 5-10 years unless the bitcoin experiment fails. I genuinely believe the experiment will succeed (time horizon intentionally omitted) one day.

I think we will head lower before things pick up again but I do NOT think the doomsday scenario some bears here are talking about will occur. I'm guessing a maximum bottom of $50, some sideways action, and we're back up again, albeit at a reduced rate compared to the good ol' days of not too long ago

[bitcoiners]

Well if history is anything to go by, the price usually rises after a weekend dip.

Will we see the same pattern this week now that the correction looks to be over?

A weekend dip? lol...

We just watched a bubble half-way burst.  It's falling more.  I love people still in denial.

[ManBearPig]

Well if history is anything to go by, the price usually rises after a weekend dip.

Will we see the same pattern this week now that the correction looks to be over?

A weekend dip? lol...

We just watched a bubble half-way burst.  It's falling more.  I love people still in denial.

Do you believe it's a series of purely market-driven sell-offs and the killer lag on Gox doesn't compound it?

[smoothie]

Well if history is anything to go by, the price usually rises after a weekend dip.

Will we see the same pattern this week now that the correction looks to be over?

A weekend dip? lol...

We just watched a bubble half-way burst.  It's falling more.  I love people still in denial.

Well if you're mindset is short term, maybe you are right.

But in the long term, if you look back at 2011 until now people thought the bubble burst in june 2011. Now we are at 300%+ from the top there.

So, speaking too soon?

[bitcoiners]

So, speaking too soon?

I like your posts smoothie.  But we are falling much further.  I love your convictions but no, I'm not speaking too soon.  Quote me please.

I posted before the bubble burst.  And I am posting now.

Edit: I believe in crypto.  It's the future.  It's just not hit bottom yet.  Now matter how much people would like it to be.

Cheers.

[bitcoiners]

So, speaking too soon?

And it's dropping hard again....

[BitcoinAshley]

Dropping "hard?" Lol dude. If that's your criteria for "hard," I'm guessing you don't have much luck in pleasing the wimmin

[bitcon]

price falls, cheap coins for long bulls. win-win either scenario.

[smoothie]

So, speaking too soon?

And it's dropping hard again....

Oh yeah?

Price is about the same as it was when you first posted. $95?

LOL

Keep praying to the bitcoin bear gods.

The new interest into bitcoin will only propell the price higher.

Limited amount of coins....tons of fiat and new participants.

But you keep waiting for that "dip" you keep talking about.

[randrace]

I'm going to make a radical prediction: the price will stay about the same all day Monday (12-12PST). It will not go below 90 nor above 110.

Take that!

[crazy_rabbit]

I have to agree with smoothie. We've had a couple days around $100 and now it's monday. Means new deposits are going to clear that were sent from before the crash- there's a lot of new money moving into the system. People won't be so patient as to not buy. They will simply see that bitcoin isn't dead, and indeed is back up to it's high two weeks ago and think it's a good time to buy.

My guess: $150 by wednesday. But then I hope it just holdssss for the Longgggesssst time.

[SlipperySlope]

I think the market will decline a bit by the end of next week. After the new deposits buy bitcoins at Mt Gox, who then will buy?

Classical bubbles tend to give back *all* of the bubble gains. At what price did Bitcoin Bubble 2 start - know that and you might know where it will approximately end up.

[crazy_rabbit]

I think the market will decline a bit by the end of next week. After the new deposits buy bitcoins at Mt Gox, who then will buy?

Classical bubbles tend to give back *all* of the bubble gains. At what price did Bitcoin Bubble 2 start - know that and you might know where it will approximately end up.

I think a lot of people would argue the bubble started 4 years ago, so I don't know if that helps us here. Assuming bitcoin will one day succeed, the true "bubble" is probably still far in the future, when BTC gets overpriced to tens of thousands of dollars. I don't really think this counts as a bubble.

[phlogistonq]

I have to agree with smoothie. We've had a couple days around $100 and now it's monday. Means new deposits are going to clear that were sent from before the crash- there's a lot of new money moving into the system. People won't be so patient as to not buy. They will simply see that bitcoin isn't dead, and indeed is back up to it's high two weeks ago and think it's a good time to buy.

My guess: $150 by wednesday. But then I hope it just holdssss for the Longgggesssst time.

I think new money is not the critical factor.
Lots of people have sold thursday and there is plenty of fiat in accounts waiting for a clear sign of what is going to happen.
If we move further down, people will wait it out.
If there comes any clear indication that we are embarking on an upwards trip again, all the fiat pulled out at >$200 will be put back into BTC, driving the price back up very very quickly.
We may encounter more resistance than the previous 'bubble' though, since there will be people that regret not having sold >$200 and will seize the opportunity.

[proudhon]

I have to agree with smoothie. We've had a couple days around $100 and now it's monday. Means new deposits are going to clear that were sent from before the crash- there's a lot of new money moving into the system. People won't be so patient as to not buy. They will simply see that bitcoin isn't dead, and indeed is back up to it's high two weeks ago and think it's a good time to buy.

My guess: $150 by wednesday. But then I hope it just holdssss for the Longgggesssst time.

I think new money is not the critical factor.
Lots of people have sold thursday and there is plenty of fiat in accounts waiting for a clear sign of what is going to happen.
If we move further down, people will wait it out.
If there comes any clear indication that we are embarking on an upwards trip again, all the fiat pulled out at >$200 will be put back into BTC, driving the price back up very very quickly.
We may encounter more resistance than the previous 'bubble' though, since there will be people that regret not having sold >$200 and will seize the opportunity.

All the money that was on the order book before the crash is basically back on he order book now, it just distributed at much lower prices than before.  The main difference between now and before the crash is that there are 4x as many bitcoins for sale.  It's not a question of whether we may encounter more resistance, there's so much resistance now that moving upward is basically out of the question.

[AJS_]

Well I have to agree, almost, with Randrace, I think that it is going to fluctuate between 85-100 for a while, no matter how much money is waiting to be dropped. When a 'crash' happens obviously people are going to be slightly wary of the market, surely this is inevitable. People don't jump in front of cars when they are about to crash, its normally a small number of injuries not a mass suicide. So as I say I think the small fluctuation is inevitable. People are picking up a couple of coins here and there when they themselves feel 'right' about it ( there s a lot of psychology involved right now) or making profits on day trading, with the solicited risks that holds, which will always happen,  but I don't think the Monday rallies people have become accustomed to are going to occur for this reason, that is not to say that the fiat isn't there, it's just not being used to buy BTC. We are following approx. the growth that happened before the huge spike, and with people more aware of the old BTC (this fact cannot be argued) I think this steady price rise (with minor corrections) could be sustained in the forceable time. It could only take another trigger (as before) to send the price rocketing again after which it is certain to 'burst' (if we are calling it a bubble still), but the overall direction will be upwards in the long run. Unless of course a major legislation comes against BTC or trading it etc.

[bitcoiners]

.

But you keep waiting for that "dip" you keep talking about.

And it's down again. 

Hit a low of 71. 

Cheers!

[wopwop]

go pray at your local church

oh plz god plz i wanna be rich

[noedaRDH]

go pray at your local church

oh plz god plz i wanna be rich

Go troll somewhere else loser.