Massive rebound incoming

[TooCasual]

It will be in the 90's by next week.  Great news, Gox on track... Long weekend over.

Lower floor reached last week... Rebound and upswing starting again.

Buy now while its cheap and make your 30%+ when she hits 100...

TC

[Miz4r]

It will be in the 90's by next week.  Great news, Gox on track... Long weekend over.

Lower floor reached last week... Rebound and upswing starting again.

Buy now while its cheap and make your 30%+ when she hits 100...

TC

Cheers mate.

[Ares]

It will be in the 90's by next week.  Great news, Gox on track... Long weekend over.

Lower floor reached last week... Rebound and upswing starting again.

Buy now while its cheap and make your 30%+ when she hits 100...

TC

[Bitobsessed]

It will be in the 90's by next week.  Great news, Gox on track... Long weekend over.

Lower floor reached last week... Rebound and upswing starting again.

Buy now while its cheap and make your 30%+ when she hits 100...

TC

Because TC said so.

[BitChick]

It looks promising that over 2 million from Bitfloor is going to be refunded this week or next week.  Will all of that money go back into Bitcon?  Well we know that the holders of that cash are people that know about Bitcoin and obviously have an interest in it so I think it could cause a spike in price when those funds are deposited at another exchange?

Just thinking about it.  I know that I have a little cash coming and I am tempted to throw it back into BTC.  Granted, the amount Bitfloor owes me is not a huge amount.

Bitfloor refund information: https://bitcointalk.org/index.php?topic=179135.msg2703033#msg2703033

[CEG5952]

 

[RationalSpeculator]

Personally,

Bitcoin started as proof of concept and mostly geeks are into it.

Then it grew big and financial people got into the bandwagon.

As with all financial instruments, speculation and hedging got into the game too.

Hence, price will move up and down.

The big boys will try to push up the price, and the rest of the boys will be chasing it. Then they will sell out (cash out), then there will be panic selling.  This is VERY COMMON in stock market .

There are two players in Bitcoin Price :

1. The Miners
2. The Traders.

Price will eventually stablised when it makes more sense to Trade rather than to mine. Anything BELOW that, is a BUY for Bitcoin, anything ABOVE that is speculative price.

This is the basic of ECONOMICS, DEMAND and SUPPLY curve.

I think this is a very interesting observation. Not convinced yet that it applies to bitcoin though. With gold or any other commodity one can see that eventually price will hover around production cost because indeed production stops when price is below production cost and thus supply shrinks dramatically catching up with demand eventually. With bitcoin however the supply does not change! It's always constant, even when the price is below the production cost and many miners go bust, the amount of bitcoins mined does not go down but remains the same! And vice versa, when price is above production costs, many miners make profits but the amount of bitcoins mined does not go up!

This might explain why prices go higher percentage wise on bubbles, and lower percentage wise on busts, because there is no balancing of supply from production.

[carolstreet444]

We hit the 90$ and are now slowly  droppin back to 70$

[mgio]

The general trend is still down.

Looks up to me.

[bitcoinator]

yes, looks like we'll see triple digits soon

[vokain]

The general trend is still down.

Looks up to me.

primary trend has always been up,  what we had was a secondary bear correction

[ThatDGuy]

The general trend is still down.

Looks up to me.

primary trend has always been up,  what we had was a secondary bear correction

Do you think it's over?

I thought we would spend a bit more time in the $60's... really curious to see what the weekend and next week will bring.

[bitcoinator]

actually I thought we should reach 50 before going up.. but probably many people thought so and hurried to buy at 60.

[freedomno1]

Bwahahahaha 
For now

[vokain]

The general trend is still down.

Looks up to me.

primary trend has always been up,  what we had was a secondary bear correction

Do you think it's over?

I thought we would spend a bit more time in the $60's... really curious to see what the weekend and next week will bring.

 Do you want to sell at 90? 80? 70? 60? I don't. I think long term it's risky to bet against the trend is all.

[bitcoinator]

we came back to $100... and we didn't spend much time below $70... even though we are below $100 currently due to some correction, it looks like $100-$120 is a good price for near future..

[RationalSpeculator]

I predict a massive rebound up into the triple digits next week. Right now there's lots of fear in the market and people are sending their coins en masse into MtGox to sell. Fiat however doesn't move as fast, it takes a few days to arrive and up until last Thursday USD withdrawals were impossible which doesn't help either. I mean who wants to send in their fiat when you know your USD will be stuck in there? So let's sit back and watch how after the weekend lots of fiat starts pooring in to scoop up some cheap coins which will lead to a massive wave of panic buying. You've heard it here first, don't be left behind when it begins.

Great call!

Are you still not trading?

My technique is to simply buy as it goes down and sell as it goes up.

This way I remove my emotions and it's been very profitable for me.

I was out of cash once the recent drop went beyond $76 to $65 but since it's again above $90 it's been again profitable for me.

Selling as it goes up now ...

I plan to switch to a buy and hold only when chances are high we reached bottom. 

[Miz4r]

I predict a massive rebound up into the triple digits next week. Right now there's lots of fear in the market and people are sending their coins en masse into MtGox to sell. Fiat however doesn't move as fast, it takes a few days to arrive and up until last Thursday USD withdrawals were impossible which doesn't help either. I mean who wants to send in their fiat when you know your USD will be stuck in there? So let's sit back and watch how after the weekend lots of fiat starts pooring in to scoop up some cheap coins which will lead to a massive wave of panic buying. You've heard it here first, don't be left behind when it begins.

Great call!

Are you still not trading?

My technique is to simply buy as it goes down and sell as it goes up.

This way I remove my emotions and it's been very profitable for me.

I was out of cash once the recent drop went beyond $76 to $65 but since it's again above $90 it's been again profitable for me.

Selling as it goes up now ...

I plan to switch to a buy and hold only when chances are high we reached bottom. 

Thanks, I do trade but only with a small portion of my bitcoins and I'm just following the long term trend and try to buy the dips. I'm better at buying dips than I am at selling the tops though. Like you I'm not convinced we've hit bottom yet, but my feelings say otherwise. I probably should start to take some profits soon, but like I said I'm just bad at it.

[RationalSpeculator]

I predict a massive rebound up into the triple digits next week. Right now there's lots of fear in the market and people are sending their coins en masse into MtGox to sell. Fiat however doesn't move as fast, it takes a few days to arrive and up until last Thursday USD withdrawals were impossible which doesn't help either. I mean who wants to send in their fiat when you know your USD will be stuck in there? So let's sit back and watch how after the weekend lots of fiat starts pooring in to scoop up some cheap coins which will lead to a massive wave of panic buying. You've heard it here first, don't be left behind when it begins.

Great call!

Are you still not trading?

My technique is to simply buy as it goes down and sell as it goes up.

This way I remove my emotions and it's been very profitable for me.

I was out of cash once the recent drop went beyond $76 to $65 but since it's again above $90 it's been again profitable for me.

Selling as it goes up now ...

I plan to switch to a buy and hold only when chances are high we reached bottom.  

Thanks, I do trade but only with a small portion of my bitcoins and I'm just following the long term trend and try to buy the dips. I'm better at buying dips than I am at selling the tops though. Like you I'm not convinced we've hit bottom yet, but my feelings say otherwise. I probably should start to take some profits soon, but like I said I'm just bad at it.

I think it is impossible to predict short term - and - long term price movements with any certainty. Even if chances are high for something to happen, it can still not work out.

The only thing you can do is indeed evaluate the risk/reward. Clearly when prices have gone up the risk for it to drop goes also up, and the potential reward goes down. If risk/reward is not as favorable logic dictates you want to have a lower exposure and when it is more favorable you want to have a higher exposure. This leads to buying as it goes down and selling as it goes up. The lower it goes the more coins you want to buy, the higher it goes the more coins you want to sell.

And no prediction is required with this strategy. You can be totally wrong in your prediction but you will still have bought most of the coins on the bottom and have sold most of the coins at the top, whatever that turns out to be.

[XXthetimeisnowXX]

We hit the 90$ and are now slowly  droppin back to 70$

yep its 70 and droping....oh no thats nor right. its 95 and going up. i bout a lot at 70 ill sell half at 110. or in four days. but good callon the 70s you are amazingly wrong!!! hahahah