Bitcoin / USD next crash

[gollum]

BTC/USD is not so far away from its former top at 266$, Im expecting it to make a double top at around 250-270$ and have a major crash afterwards to 20-30$.
This time I expect bitcoin to stay at low levels after the crash.

High: $32 @  8 June 2011
Low: $2 @ 19 Nov 2011
Correction 90% in 5 months

High: $266 @ 10 April 2013
Low: $54 @ 12 April 2013
Correction 80% in 2 days

[HDSolar]

This time I expect bitcoin to stay at low levels after the crash.

But why?  Can you expand on this statement?

I am not saying it is not possible but I would counter on the increased and increasing utility of the coin would cause price to increase.  As fewer and fewer coins are made as difficulty goes up the price should rise to match need.  I don't believe that as difficulty increases so does price but I do believe that as utility increases and coins become harder and harder to create price could increase.

Also history does not support this statement unless utility becomes less and less or removed in total.  Then you have a currency that has no value.

[gollum]

Bitcoin is a volatile market, even if you believe in 500$ or 1000$ later on you should expect several 50-80% crashes on the way
I suspect most ASIC miners hoarded the coins they mined, they will eventually sell to take their profit. And once everyone goes for the exit the market goes downs fast - that is true for all kind of commodities, and bitcoin is a commodity from the perspective of a miner.

[Miz4r]

ASIC miners are not going to sell below $100, they've paid too much for their hardware to do that. Double top around $266 is possible but it's not going to crash as hard as it did in April. I'm willing to bet on that. It's also not unlikely we see a much higher top this time.

[wobber]

ASIC miners are not going to sell below $100, they've paid too much for their hardware to do that. Double top around $266 is possible but it's not going to crash as hard as it did in April. I'm willing to bet on that. It's also not unlikely we see a much higher top this time.

Explain please?

[Miz4r]

ASIC miners are not going to sell below $100, they've paid too much for their hardware to do that. Double top around $266 is possible but it's not going to crash as hard as it did in April. I'm willing to bet on that. It's also not unlikely we see a much higher top this time.

Explain please?

What's there to explain? We've recovered from the 2013 bubble and SR has been determined to no longer be relevant. China has sparked the next big bull market and it could very well go a lot higher this time. We've cleared the main resistance areas on the way back to the ATH, and bitcoin mining has been taken over by expensive ASICs whose owners are looking for a positive ROI. They're not going to sell their mined coins for cheap.

[johncarpe64]

Crashing soon, get ready.... 80% drop..

[Xer0]

expect single digits crash, then bounce, then negative values
so yes you will have to pay when you want to -sell- your BTC
buy in with all you have when it goes positive again and wait

it's much funnier without irony tags

[nobbynobbynoob]

November 2010 was a bubble (albeit short-lived).
June 2011 was a massive bubble. If comparisons with tulips are to be made, this is the bubble with which to do it.
April 2013 was a bubble.

My gut feeling now is bullish, maybe extremely bullish if the Chinese really want to go to town. 10.000 CNY? No problem. The Chinese know how to build bubbles and they mightn't even stop there. Buckle up folks.

Yes, a drop is obviously possible but the SR takedown was the time for that. That could've tipped the price to $60 or lower but turned out to be just a flash crash.

Personally, if the time ever comes, I'd place more real significance on gold-ounce parity than on mBTC-dollar parity TBH, but that's just my inner gold bug crying out loud.

[wormbog]

I suspect ASIC orders are falling off a cliff at this point. But new investors are still afraid to miss the boat, and buying coins is the only realistic option now. Well surpass the ATH by EOY, IMHO.

[samson]

When enough bids fill in I expect a massive sell off.

Some of those ASIC companies like ASICMINER for example aren't making anywhere near as much money now as they were in the past.

The time to sell is near. Just got to wait for enough suckers to place their bids before it starts.

[TERA]

expect single digits crash, then bounce, then negative values
so yes you will have to pay when you want to -sell- your BTC
buy in with all you have when it goes positive again and wait

it's much funnier without irony tags

So when it goes negative, I can get paid to buy?