BTC will reach $130 and it will stabilize.

[wopwop]

The current bitcoin price is forged, sorry

http://www.youtube.com/watch?v=ytuKbNxdjf8

lol

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[bobdude17]

I'm with you, bobdude. I've been conservative. When friends have asked me lately, I respond "We'll be over $300 by the 4th of July."

I personally feel that, barring new negative news, that'll be a conservative estimate.  But that claim has still been enough for most of them to look at me like I'm crazy.

Now it gets fun.

Yup yup.   And I agree, I think that will end up being conservative.

A theory is that people have been actively trying to stabilize the price so that Bitcoin looks viable during the conference to newcomers. Could be complete BS, yea, but yesterday the price started running up a bit and then BOOM, huge 1,000+ dumps. Who would be dumping 1k+ coins after learning about the paypal founders' investment and the Webmoney acceptance, and the other good news, AND the conference about to come where there will undoubtedly be big announcements?

Exactly. My theory is:

Buy Bitcoin while you still can. The price is being be held stable by big money for the Silicon Valley conference. The price will soon explode upwards.

TBH that just does not sound right to me, unless someone is trying to prevent a drop in price. In which case, we should be concerned.
No VC in his right mind will be looking at BTC without looking at price charts, on which this week long relative stability means nothing.

Can't see anyone at the conference having a problem with rising prices  

Good point. But I think this started before MtGox bad news and all the recent good news, so that they could show investors what a future stable bitcoin would look like. Even though rising prices would excite everyone, it might look like a bubble to some investors. The most attractive thing you could show big companies at this point would be a model of future stability.

Of course, these are my guesswork conclusions. We'll see what happens.

Artificially manipulated "stable" market? Investors would spot it, and it's the last thing they would want. I don't think anyone will seriously waste their money doing this.

I think it would be waaaaay worth it. Even if the  investors could spot it, it wouldn't matter, they would understand the need to present a professional looking product. A conglomeration of big money could hold the market steady, make Bitcoin look professional, and then make billions by letting the reigns go and watch all the corporate panic buying ensue.

I mean c'mon, why throw a huge conference in the middle of Silicon Valey with the risk of the price absolutley tanking in the middle of your presentation. Everybody looking at their cellphones...No way they would take that risk. Very worth the money.


Has the recent price stability felt natural to anybody? I don't think so, not with all the drama the past week. Bitcoin has reacted for more violently on less news.

[freedomno1]

Usually a conference would not boost the share price
That said this is the first major conference after the popularity and price of bitcoin surge
To simply be said this is a Genesis test not a make or break of the currency but could be the start of making it mainstream
So a fair bit of expectations are incoming and it will be interesting to see how it affects the prices

[bobdude17]

I disagree. Within the next couple days the price is going to absolutely erupt.
Once the high rollers release the reigns from the markets.

I say bullshit.  

People are cautious. The crash from $260 happened a month and a half ago...

I don't think we'll touch $130 this week or next week.

Market: PROVE ME WRONG  


I predict a long, slow slide... upwards  

Think about the fact the fact the market even got to 260 a few months ago. With hardly any people and not much good news, by comparison. If panicking speculators could raise the price that high, think about panicking VCs and companies and incoming new users...


And because Bitcoin basically works like a financial virus, a long slow slide upwards is practically impossible. This disease will spread exponentially.


BTW Ashley I never think you get enough credit for your posts. Even if I disagree with you, I hardly ever see careless responses from you.
So +1 I guess.

[Theraty]

The only think we need to see how the btc price skyrocket, is another country in bankrupt.

And i think that will bring the BTC to + $300 USD

Yes or there was a repeat of what happened in cypress. If it stabilizes at a specific amount it will be an event like one of these that will let it rise way above. Of course with more services accepting on and offline, who knows what coul happen.

[Beta-coiner1]

The buying pressure is definitely quite high considering I just saw someone sell almost 800 btc but the price didn't even drop a dollar.

[michaelGedi]

so yeah, the price might change at some point...

[BitcoinAshley]

I say bullshit. 
People are cautious. The crash from $260 happened a month and a half ago...
I don't think we'll touch $130 this week or next week.
Market: PROVE ME WRONG 
I predict a long, slow slide... upwards 

Think about the fact the fact the market even got to 260 a few months ago. With hardly any people and not much good news, by comparison. If panicking speculators could raise the price that high, think about panicking VCs and companies and incoming new users...
And because Bitcoin basically works like a financial virus, a long slow slide upwards is practically impossible. This disease will spread exponentially.

I *almost* agree. I'll have you know I am purposely tempering my sentiment. Bitcoin is indeed quite viral and the danger is that this can not only result in huge rallies upwards, but also wild swings downwards. I am convinced that Bitcoin price will go to the moon, but tempering my short-term expectations allows me to make more rational decisions regarding price movement and recognizing [temporary] over-bought conditions.
In addition, I think a LOT more people will be selling to strength on the way up if we have any sort of explosive movement in the near future, so that such a movement will only be initially explosive. Not just plebs like me looking to cash in on a new laptop at a certain price point or whatever, but big cats who are interested in (a) living off of their gains in a fiat world, and/or (b) market-making; slowing rallies and catching knives.

BTW Ashley I never think you get enough credit for your posts. Even if I disagree with you, I hardly ever see careless responses from you.
So +1 I guess.

Thanks for the vote of confidence 

[Malawi]

Hard to say where the price is going at the moment.

I myself think it will stay under 125, possibly with spikes just passing that number (like 126 or so).

I think the current price-hike is due to US-customers who want to move BTC to other exchanges for easier payout due to the Dwolla incident.
This will most likely stabilize in a day or tree, and exchange rates across exchanges will become narrower again.

IMHO - If you want to profit from this, you should move USD into whatever exchange that offers the easiest way to get fiat out to US. At those exchanges the sell-pressure will be higher and you can swipe up some cheap BTC and move them into storage or over to MtGox.

[dataphile]

so yeah, the price might change at some point...

That is a bold statement. Do you have TA to back it?

[Kaiji]

Its going to take a while to reach $200+ prices again since everytime there is price increase all the people who bought before the bubble at inflated prices try to recoup their losses by selling.

Despite all the news coverage bitcoin has gotten lately, the word hasn't gotten out that there is an ridiculously easy way to send money over the net. Once the masses pick up on this everyone is going to follow each other like lemmings and prices could easily reach $500-$1000.
There are only 2 obstacles to this. First there is no easy way to buy bitcoins online. Second there is not yet many popular online market places that use bitcoins other than SR. If people can buy all their online needs with bitcoins they will prefer to do so.

[DrG]

Its going to take a while to reach $200+ prices again since everytime there is price increase all the people who bought before the bubble at inflated prices try to recoup their losses by selling.

Despite all the news coverage bitcoin has gotten lately, the word hasn't gotten out that there is an ridiculously easy way to send money over the net. Once the masses pick up on this everyone is going to follow each other like lemmings and prices could easily reach $500-$1000.
There are only 2 obstacles to this. First there is no easy way to buy bitcoins online. Second there is not yet many popular online market places that use bitcoins other than SR. If people can buy all their online needs with bitcoins they will prefer to do so.

I concur.  Every lame media piece on the news focused on the frenzy and crash - some even neglected to state that BTC can be used by a regular person to send money.  They focused on lack of government oversight and anonymity and drugs.  Once people start to realize that this is a viable option then it will go past 300.  But they won't realize it as viable if the price swings 20% every day.  Catch 22 I suppose.

[freedomno1]

Its going to take a while to reach $200+ prices again since everytime there is price increase all the people who bought before the bubble at inflated prices try to recoup their losses by selling.

Despite all the news coverage bitcoin has gotten lately, the word hasn't gotten out that there is an ridiculously easy way to send money over the net. Once the masses pick up on this everyone is going to follow each other like lemmings and prices could easily reach $500-$1000.
There are only 2 obstacles to this. First there is no easy way to buy bitcoins online. Second there is not yet many popular online market places that use bitcoins other than SR. If people can buy all their online needs with bitcoins they will prefer to do so.

I concur.  Every lame media piece on the news focused on the frenzy and crash - some even neglected to state that BTC can be used by a regular person to send money.  They focused on lack of government oversight and anonymity and drugs.  Once people start to realize that this is a viable option then it will go past 300.  But they won't realize it as viable if the price swings 20% every day.  Catch 22 I suppose.

Once enough people realize it will already be really profitable and we will all already have XD

[wamatt]

Everytime there is price increase all the people who bought before the bubble at inflated prices try to recoup their losses by selling.

I used to think this, and it's a seems to be fairly logical conclusion on the surface. However, upon further reflection, it could be that those speculators rushing into the bubble were inherently greedy.

If that's the case, that would mean they are probably not the overly risk adverse type. Thus when the price starts to going up again they could be thinking to themselves: "Why sell out today when I can sell out 20% higher tomorrow?"

[Pzi4nk]

I have a different take on the $260 peak. Yes, it was a bubble as it turned out and many people got stuck holding bitcoin they bought at inflated prices. This may have soured some who were late coming to the game.

But psychologically it's a huge benefit that we've already been to $260. Now it seems reachable. If you'd asked people in January if bitcoin was going to be above $250 at anytime in 2013 not many people would have made that bet.

Now it's in sight. Now it's someplace we've already been we just need to approach it more cautiously, gradually, sustainably.

I think having been there once it's more likely to return quickly.

[phatsphere]

there are no long and slow slides upwards. idealistically, it's like: $.1 per week, next wee $.2, then $.4, $.8, … then maybe 2, 5, 10, … kaboom. the only question is, if sometimes during that buildup a downward correction happens.

[Pzi4nk]

There are only 2 obstacles to this. First there is no easy way to buy bitcoins online. Second there is not yet many popular online market places that use bitcoins other than SR. If people can buy all their online needs with bitcoins they will prefer to do so. [emphasis added by Pzi4nk]

I think this is right on the money and a huge factor in opening bitcoin to mass acceptance.

When I started investigating bitcoin it was confusing. In fact, I looked into it in late 2009 but couldn't see the vision. When I recently came back to it I saw what it could be but it was painful getting it set up.

Forget about my parents, my wife would never go through the hassle. I'm convinced most people won't adopt bitcoin until it's as easy as PayPal. When it's just another option at checkout and you can sign up on the spot the masses will start using it.

[michaelGedi]

so yeah, the price might change at some point...

That is a bold statement. Do you have TA to back it?

sure, been working hard on this model...

[Jaroslaw]

So wheres your 130$ now  ?

[Zaih]

Sounds good to me. Go Bitcoin!