Bitcoin at $112!

[ironcross360]

About buying now: try considering it this way:

* 115$ support was broken with volume
* next strong support is into 100$ area
* Bounces may be false signals, since RSI has gone undersold and has to recover.
* We're approaching weekend, when volume is low and manipulation is easy

You would buy now?

Manipulation is easy Lets manipulate it up

[ft73]

dp

[wopwop]

ft73: please everyone buy PLEASE

[ft73]

I'm not willing to go against trend

[ironcross360]

I want to see on the news, 1 Bitcoin hits all time high of 1mil $!

[Streets 2.0]

Wait until Monday  

[worldinacoin]

I want to see on the news, 1 Bitcoin hits all time high of 1mil $!

Unless Bill Gates chip in a billion or two

[WackyWilly]

It's a good time to buy, but WILL it drop even more is the question?

Exactly. Chances are, it will, although intermediate term support levels (current week: at  $100) are not yet broken.
You might want to take a look at the weekly levels here, for reference:
http://bitcointalk.org/index.php?topic=223860.msg2352683#msg2352683

[FloridaBear]

I guess those gigantic hashing machines operate all at once.   Too much competition.  But somehow or other someone will go in to support the prices.  Bitcoin price drop will affect the VCs and angel capitals that have invested in Bitcoin projects and they have invested hundreds of millions.

All at once? No. Yes, the hash rate has been climbing, but of course the difficulty adjusts to keep the rate of BTC production roughly the same it has been for years. Price of BTC is not about mining, it's about supply and demand.

Personally, I suspect this is just increased volatility due to the Mt. Gox/Dwolla lockdown--with USD more difficult than ever to use to buy/sell BTC, volume drops and volatility climbs.

[Moebius327]

I guess someone needs money for Friday night

[bitone]

[...] VCs and angel capitals that have invested in Bitcoin projects and they have invested hundreds of millions.

Source?

I counted round about $15 Million ...


Thanks,

BitOne

[Welsh]

I think it's due to the amount of people selling off their Bitcoins which they earn from ASIC mining. So they are depositing it into fiat money, to keep it at that value so they are benefiting from it.

[ft73]

I think it's due to the amount of people selling off their Bitcoins which they earn from ASIC mining. So they are depositing it into fiat money, to keep it at that value so they are benefiting from it.

I don't think so.
Many elements prepared the terrain to favour this correction:

* Weak market: declining average volumes since April peak.
* Bad news (Dwolla, FINCen, ...)
* Less hype: Declining media coverage.
* Frustration due to to some irrationally high expectations.
* Speculation.

The weaker alt-coins market gave a first signal with a strong correction on many coins within the last month.
Bitcoin is just following the same path.

I consider this healthy.

[sgbett]

I'm not willing to go against trend

The trend is your friend!

I'd also like to announce the introduction of "Capitulate before its too late" as phrase of the now!

[ThatDGuy]

I think it's due to the amount of people selling off their Bitcoins which they earn from ASIC mining. So they are depositing it into fiat money, to keep it at that value so they are benefiting from it.

I don't think so.
Many elements prepared the terrain to favour this correction:

* Weak market: declining average volumes since April peak.
* Bad news (Dwolla, FINCen, ...)
* Less hype: Declining media coverage.
* Frustration due to to some irrationally high expectations.
* Speculation.

The weaker alt-coins market gave a first signal with a strong correction on many coins within the last month.
Bitcoin is just following the same path.

I consider this healthy.

Surprised some of those things didn't have an effect earlier, but I do agree about it being healthy.

[KSV]

its normal, it will recover. . .

[ft73]

Surprised some of those things didn't have an effect earlier, but I do agree about it being healthy.

Many had effect, since April.
See the declining peaks at (roughly) $260, $170, $150, $130.
Path was clear.

We're still  in the middle of an irrational market cooldown.

[Bitcopia]

Wait until the newly invested capital has time to materialize. We will start to see more reliable, efficient, and easy to use infrastructure to handle real trading volume and serious payment processing. As that happens, and merchants slowly realize that 0.99% beats the hell out of 3%, and consumers slowly realize the benefits of bitcoin... well I'm not saying anything we don't all already know.

[niothor]

Wait until the newly invested capital has time to materialize. We will start to see more reliable, efficient, and easy to use infrastructure to handle real trading volume and serious payment processing. As that happens, and merchants slowly realize that 0.99% beats the hell out of 3%, and consumers slowly realize the benefits of bitcoin... well I'm not saying anything we don't all already know.

You know , people have a lifespan , so most tend to buy something they didn't afford before turning their coins into cash rather than waiting for this... dream (current state).

[dandannn]

How far do you think it will drop before it rises again. Weeks, months, years...?