Blog post- Bitcoin could "Spike" 200% in a 24-hour period?

[BitChick]

I read an interesting blog from a link on Reddit this morning.  The author thinks that Bitcoin could spike 200% in just a day.  Interesting thought.  I certainly would not mind that.

I’ll define “The Spike” as a price movement upwards of 200% within a 24-hour period, after which the price will not correct below the new level, ever

http://chralash.wordpress.com/2013/05/13/prediction-for-a-future-event-the-spike/

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[fr33d0miz3r]

Panic buy!!!111

[zachcope]

I cancelled all my sell orders at $123.

Honestly I did!

Waiting for the train to leave the station!

[joulesbeef]

yes I think things will change when people can more easily buy bitcoins, for sure, but we have to do something about the hacker problem and we need more exchanges.

[BitChick]

Panic buy!!!111

Well, the author did mention this:

 

I don’t think this day is imminent, since we’re arguably still in for a prolonged cool-off, nor do I think it is inevitable. But I do think that the conditions permit such a leap, at least in theory.

So I guess there is no need to panic yet.

[BitChick]

yes I think things will change when people can more easily buy bitcoins, for sure, but we have to do something about the hacker problem and we need more exchanges.

I don't think it is that easy to get money into MtGox, or any other trading platform, for that matter yet either.  I think once that becomes simplified it will be just a matter of time before there is a huge "Spike" with no return like the author predicts.  I am just not sure how close we are to that yet.  It is fun to think about though. 

[Dalib]

We could not even get over $ 120. A few of these "guaranteed" report does talk about, the seller cancels bids below 130, who has the dollars, buy Bitcoin for 120 and rally can begin  .... 

[lexico]

I don't think it is that easy to get money into MtGox, or any other trading platform, for that matter yet either.  I think once that becomes simplified it will be just a matter of time before there is a huge "Spike" with no return like the author predicts.  I am just not sure how close we are to that yet.  It is fun to think about though. 

bitcoin.de is very simple, since it only uses bankaccounts directly so no need to send money to them. only in europe though.
I dont like that mtgox acts like a bank and 'saves' my money (and sometimes refuses to give it back, so I heard).

[BitChick]

bitcoin.de is very simple, since it only uses bankaccounts directly so no need to send money to them. only in europe though.
I dont like that mtgox acts like a bank and 'saves' my money (and sometimes refuses to give it back, so I heard).

Glad to hear that some exchanges are better then Mtgox.   We still are in need of better ones here in the US and more stable and secure ones too.  Hopefully that will come soon.

[yokosan]

I think this displays a fundamental misunderstanding of the state of affairs.

The writer needs to define "Bitcoin", in that the price could spike 1000% on 1 exchange, but if it's a small one that only 3 people use it means nothing.

I assume he means that it will spike on all major exchanges? In which case things get interesting because for example if an "event" occurs that sends thousands flooding to Bitcoin in the USA, it will take time for those in China to react.

On that note I'm actually hoping for a chinese altcoin to spring up for another bandwagon to jump onto. It's pretty much an inevitability that one will come along at some point...

[Coinseeker]

SMH   

I read it in a blog, it must be true.   

[smoothie]

i'm going to start a blog saying price will go to $300 tomorrow and then $3 the next day.

You will believe it!

Start pumping now 

[BitChick]

i'm going to start a blog saying price will go to $300 tomorrow and then $3 the next day.

You will believe it!

Start pumping now  

Hey,  I am not saying I believe it.  I am saying it is "Interesting" and I would not mind if it did.  That is all.  believe me,  I am pretty pessimistic / bearish about BTC these days.  It is hard not to be with the price doing very little.  Stability is not necessarily a bad thing but I shamelessly am involved in BTC primarily for the fact that it has huge long term potential so fight inflation and give me some great returns on my investment. It is nice to read that there are some hopeful and positive things that could really increase the price in the future.  

[torba]

[GigaCoin]

yes I think things will change when people can more easily buy bitcoins, for sure, but we have to do something about the hacker problem and we need more exchanges.

I don't think it is that easy to get money into MtGox, or any other trading platform, for that matter yet either.  I think once that becomes simplified it will be just a matter of time before there is a huge "Spike" with no return like the author predicts.  I am just not sure how close we are to that yet.  It is fun to think about though. 

Whats so hard about getting your money on gox  I never understood why people complain about it. Just do a wire, wait max 4 days and it Will reach your account, sometimes email them on fourth day their support takes care of it. They accept all major currencies, can't get any easier than this.

Btce on the under hand sucks for deposits.

[BitChick]

Whats so hard about getting your money on gox  I never understood why people complain about it. Just do a wire, wait max 4 days and it Will reach your account, sometimes email them on fourth day their support takes care of it. They accept all major currencies, can't get any easier than this.
Btce on the under hand sucks for deposits.

Well, I had trouble wiring the money the first time to Mt. Gox.  The people at my local store did not know what they were doing.  It took thirty minutes for them to figure it out.  Also, 4 days?  I am assuming you are being sarcastic?  I miss Bitfloor.  It was actually easier to transfer money into their account.  It would usually show up in 15 minutes.  Of course, they are holding a small amount of it now still that I may never see since they closed.   Sigh. AND that is why we are in desperate need of better exchanges that are reliable, and easy for the average person to use.  

[FCTaiChi]

It's fun to throw out prophecy now and then, eventually you can be right and hailed as an expert

[BitChick]

It's fun to throw out prophecy now and then, eventually you can be right and hailed as an expert

It would be so nice if I was right but I can't say I believe it myself.  Of course if it does happen I knew it all along!   

[FCTaiChi]

   sounds good to me.

[Zaih]

I am skeptical, but bloody oath, I'm more than happy for this to happen