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Question: breakout or fakeout?
breakout - 41 (82%)
fakeout - 9 (18%)
Total Voters: 50

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noob2001
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November 05, 2013, 11:06:09 AM
 #1

We're at all time highs...........

So is this a breakout or a fakeout?
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bythesea
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November 05, 2013, 12:43:30 PM
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Still not there, Bitstamp = 235$ atm and it was 260$+ when it was highest.
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November 05, 2013, 01:21:09 PM
 #3

We're at all time highs...........

So is this a breakout or a fakeout?
The all time high is 266 on Gox. Once Gox goes over 266 and Bitstamp gets near there, then we can say all time high. But in my opinion, it's the chinese that are driving the price up. Question is, will it go down ever?

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noob2001
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November 05, 2013, 01:26:29 PM
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sorry, I was looking at the closing price......
noob2001
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November 05, 2013, 01:37:21 PM
 #5

We're at all time highs...........

So is this a breakout or a fakeout?
The all time high is 266 on Gox. Once Gox goes over 266 and Bitstamp gets near there, then we can say all time high. But in my opinion, it's the chinese that are driving the price up. Question is, will it go down ever?



I think the price could go either way.

Either it drops to $120-$140, or perhaps a move up to $500.
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November 05, 2013, 01:53:57 PM
 #6

It's an ATH for the market cap, because although the price is lower than April, the total number of coins is higher. It's easy to forget that the annual bitcoin inflation rate is still running at over 12% !!

"There is only one thing that is seriously morally wrong with the world, and that is politics. By 'politics' I mean all that, and only what, involves the State." Jan Lester "Escape from Leviathan"
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November 05, 2013, 01:56:21 PM
 #7

It's an ATH for the market cap, because although the price is lower than April, the total number of coins is higher. It's easy to forget that the annual bitcoin inflation rate is still running at over 12% !!

So btc is undervalued in your opinion?
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November 05, 2013, 02:18:27 PM
 #8

It's an ATH for the market cap, because although the price is lower than April, the total number of coins is higher. It's easy to forget that the annual bitcoin inflation rate is still running at over 12% !!

So btc is undervalued in your opinion?

I think the potential upside is at least 1 to 2 orders of magnitude higher than the current price in the medium term (2-5 years).

Against that, there are risks (Regulation, technical failure, lack of adoption, exchange failures etc). But network effects are so powerful that it is hard to see any show-stoppers. 

"There is only one thing that is seriously morally wrong with the world, and that is politics. By 'politics' I mean all that, and only what, involves the State." Jan Lester "Escape from Leviathan"
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November 05, 2013, 02:43:13 PM
 #9

sorry, I was looking at the closing price......



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