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Author Topic: Bitcoin will reach 5-6 dollars within 1-2 months  (Read 7050 times)
angelo95
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July 30, 2011, 12:13:26 PM
 #21

I have stopped trading yesterday. I was actively trading on a daily basis with a very elaborated bot but it's not worth it anymore yet I prefer to go back on Forex. Not enough liquidity to play with.
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July 31, 2011, 09:08:47 AM
 #22

There are real uses for Bitcoins at this moment.

You can transfer money taxfree over the world.
Paypal is getting bad press.

But I think you could be right.

Also...
I predict that there will be a lot of other kind of predictions in a predictions thread.

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July 31, 2011, 10:48:01 AM
 #23

There are real uses for Bitcoins at this moment.

You can transfer money taxfree over the world.
Paypal is getting bad press.

But I think you could be right.

Also...
I predict that there will be a lot of other kind of predictions in a predictions thread.

Correction: You can transfer bitcoins around the world tax free.  If you want to convert bitcoins to money, you then need to feed it through an exchange and a bank to get the cash.  There are fees there. 

PayPal is always getting bad press.  Has been for almost a decade, yet it's still around and as popular as ever.

Bitcoin's value is slowly limping along and falling.  $13.18 as I write this.  There are the usual excuses, such as this being the weekend, and that Dwolla transactions are delayed until Monday so traders can't take advantage of the low low bitcoin prices.  There is nothing new here, and everyone expects a dip on the weekends so there is nothing natural about it.  Bitcoin is in a natural, slow, gradual decline.

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July 31, 2011, 11:05:47 AM
 #24

I think it might decrease yes. But predicting a target is totally absurd.

I'm not in any way predicting, it's more a guess, and I know that there are many things that can happen in that time period that can substantially make my guessing look totally wrong.

Say what? English not your first language I guess ? Predicting and guessing is the same thing buddy.

A prediction or forecast is a statement about the way things will happen in the future, often but not always based on experience or knowledge.

Estimate or suppose (something) without sufficient information to be sure of being correct

So it seems to me, a guess is a kind of prediction implying a lack of information (meaning that a guess is a prediction, but a preditction is not necessarily a guess).

Predicting and guessing might be the same thing for someone who is always lacking information.


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July 31, 2011, 11:13:13 AM
 #25

I predicted also that bitcoin should fall into the single digits, I have predicted this for a while now. I base this on the fact that bitcoin honestly has currently no real use. I also do not see it having any real use. The problem is that it is too easily hacked. It is too risky to use it as a currency as that may bring the government after you. Plus many other reasons which I do not want to get into.

How is bitcoin easily hacked?

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July 31, 2011, 12:37:19 PM
 #26

I think the mybitcoin.com situation might be spooking some people.

I haven't seen much in the media about their disappearance.. but it's potentially another bit of bad publicity.

CNN's recent bitcoin story showed a screenshot of mybitcoin on someone's phone so I suspect rather a lot of people used it.. especially those who are less techie.   
Bitcoin-related companies burning new investors like this can't be good for the price.


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August 02, 2011, 07:15:55 PM
 #27

It looks like it will reach under 10 dollars very soon. If you do the math, just the heavy investments in the rigs shows you all the signs that we will have high pressure on the price when it is still at this levels (around 12 dollars). That without even taking in notice all the other things that are happening plus all the money that has been made in the short term from the early early adapters, many of them still have 1000-10000 % + gains, that is crazy returns in such a short time.
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August 03, 2011, 10:43:45 AM
 #28

The mybitcoin thing is a wake-up call that we need an open source and secure wallet solution to store BTC online... somehow. I don't have a problem with some bitcoins being destroyed/lost because it makes mine more valuable in the long run.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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August 03, 2011, 11:04:14 AM
 #29

It looks like it will reach under 10 dollars very soon. If you do the math, just the heavy investments in the rigs shows you all the signs that we will have high pressure on the price when it is still at this levels (around 12 dollars). That without even taking in notice all the other things that are happening plus all the money that has been made in the short term from the early early adapters, many of them still have 1000-10000 % + gains, that is crazy returns in such a short time.
your theory makes sense and is also linked to my chart patterns

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August 03, 2011, 11:27:28 AM
 #30

Posts like these do make me laugh Cheesy I don't normally entertain them but I'm feeling frisky this morning. What I don't get is why there are so many people worried about what the price is doing atm ! it's got nothing to do with the future of bitcoin. This is my opinion and in no way am I saying that I am right or wrong but we are still in the very early stages of bitcoin. The hype has caused many non technical people and traders trying to make a quick buck to the table and the price of bitcoin is unstable to say the least. trying to predict if its time to make or break is a mugs game in my opinion !! It's all about the future Wink Once things are established bitcoin I predict will be very different than it's current form. People will start services and offer solutions to the non technical minded and then we will see the real worth of bitcoin.

Your average Joe is not interested in block chains, crypto currency and how money works. If you asked the majority of the world how do currencies work they would probably shrug their shoulders at you or take you to the nearest shop so you can witness them buying something. Once bitcoin has been established there will be bitcoin banks, payment portals, merchant services and just about every way you can think of to spend and transfer money without having to install a client on your computer or even use a computer.

If you was a smart person you would not worry about how much electric you are using or how much money your loosing right now because the smart people know that as the governments of the world fail miserably to cover up there mistakes there's a collective of people that are setting the foundations for a currency that will change the world and the way people think about money. it will give you the choice to stay with a currency owned by dishonest, selfish and destructive people that are in it to make them selves rich or to move over to a currency where you are in control. Where the people of the world decide on how things are run and are not just blindly following the crap they are fed by greedy people.

Just my two pence !!
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August 03, 2011, 11:36:26 AM
 #31

Posts like these do make me laugh Cheesy I don't normally entertain them but I'm feeling frisky this morning. What I don't get is why there are so many people worried about what the price is doing atm ! it's got nothing to do with the future of bitcoin. This is my opinion and in no way am I saying that I am right or wrong but we are still in the very early stages of bitcoin. The hype has caused many non technical people and traders trying to make a quick buck to the table and the price of bitcoin is unstable to say the least. trying to predict if its time to make or break is a mugs game in my opinion !! It's all about the future Wink Once things are established bitcoin I predict will be very different than it's current form. People will start services and offer solutions to the non technical minded and then we will see the real worth of bitcoin.

Your average Joe is not interested in block chains, crypto currency and how money works. If you asked the majority of the world how do currencies work they would probably shrug their shoulders at you or take you to the nearest shop so you can witness them buying something. Once bitcoin has been established there will be bitcoin banks, payment portals, merchant services and just about every way you can think of to spend and transfer money without having to install a client on your computer or even use a computer.

If you was a smart person you would not worry about how much electric you are using or how much money your loosing right now because the smart people know that as the governments of the world fail miserably to cover up there mistakes there's a collective of people that are setting the foundations for a currency that will change the world and the way people think about money. it will give you the choice to stay with a currency owned by dishonest, selfish and destructive people that are in it to make them selves rich or to move over to a currency where you are in control. Where the people of the world decide on how things are run and are not just blindly following the crap they are fed by greedy people.

Just my two pence !!

Your point is right, longer term bitcoin should have a bright future and that gives the reasons that we are all here talking about it.

But what would you like to have 500 bitcoins or 1000 bitcoins? Thats the different in short term. Even if what you are saying is right, timing is everything, that is something both the early adopters (as you?) and the ones that bought at 30 dollars understand...
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August 03, 2011, 11:55:40 AM
 #32

Posts like these do make me laugh Cheesy I don't normally entertain them but I'm feeling frisky this morning. What I don't get is why there are so many people worried about what the price is doing atm ! it's got nothing to do with the future of bitcoin. This is my opinion and in no way am I saying that I am right or wrong but we are still in the very early stages of bitcoin. The hype has caused many non technical people and traders trying to make a quick buck to the table and the price of bitcoin is unstable to say the least. trying to predict if its time to make or break is a mugs game in my opinion !! It's all about the future Wink Once things are established bitcoin I predict will be very different than it's current form. People will start services and offer solutions to the non technical minded and then we will see the real worth of bitcoin.

Your average Joe is not interested in block chains, crypto currency and how money works. If you asked the majority of the world how do currencies work they would probably shrug their shoulders at you or take you to the nearest shop so you can witness them buying something. Once bitcoin has been established there will be bitcoin banks, payment portals, merchant services and just about every way you can think of to spend and transfer money without having to install a client on your computer or even use a computer.

If you was a smart person you would not worry about how much electric you are using or how much money your loosing right now because the smart people know that as the governments of the world fail miserably to cover up there mistakes there's a collective of people that are setting the foundations for a currency that will change the world and the way people think about money. it will give you the choice to stay with a currency owned by dishonest, selfish and destructive people that are in it to make them selves rich or to move over to a currency where you are in control. Where the people of the world decide on how things are run and are not just blindly following the crap they are fed by greedy people.

Just my two pence !!

Your point is right, longer term bitcoin should have a bright future and that gives the reasons that we are all here talking about it.

But what would you like to have 500 bitcoins or 1000 bitcoins? Thats the different in short term. Even if what you are saying is right, timing is everything, that is something both the early adopters (as you?) and the ones that bought at 30 dollars understand...

it depends on your motivation. Most that bought into bitcoin these last few months were looking to make a quick buck. If I had 1000 bitcoins I'd hold on to them and wait at least a year before moving. If you bought 1000 @ $30 as a short term investment you was very silly to do so Cheesy The way you have worded your reply sounds like your holding on to a short term investment. Using phrases like"That's the different in short term" and "timing is everything" is classic day trader talk like the silly posts here titled CRASH and SELL. Wise people are in it for the long haul Cheesy
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August 03, 2011, 12:10:29 PM
 #33

Posts like these do make me laugh Cheesy I don't normally entertain them but I'm feeling frisky this morning. What I don't get is why there are so many people worried about what the price is doing atm ! it's got nothing to do with the future of bitcoin. This is my opinion and in no way am I saying that I am right or wrong but we are still in the very early stages of bitcoin. The hype has caused many non technical people and traders trying to make a quick buck to the table and the price of bitcoin is unstable to say the least. trying to predict if its time to make or break is a mugs game in my opinion !! It's all about the future Wink Once things are established bitcoin I predict will be very different than it's current form. People will start services and offer solutions to the non technical minded and then we will see the real worth of bitcoin.

Your average Joe is not interested in block chains, crypto currency and how money works. If you asked the majority of the world how do currencies work they would probably shrug their shoulders at you or take you to the nearest shop so you can witness them buying something. Once bitcoin has been established there will be bitcoin banks, payment portals, merchant services and just about every way you can think of to spend and transfer money without having to install a client on your computer or even use a computer.

If you was a smart person you would not worry about how much electric you are using or how much money your loosing right now because the smart people know that as the governments of the world fail miserably to cover up there mistakes there's a collective of people that are setting the foundations for a currency that will change the world and the way people think about money. it will give you the choice to stay with a currency owned by dishonest, selfish and destructive people that are in it to make them selves rich or to move over to a currency where you are in control. Where the people of the world decide on how things are run and are not just blindly following the crap they are fed by greedy people.

Just my two pence !!

Your point is right, longer term bitcoin should have a bright future and that gives the reasons that we are all here talking about it.

But what would you like to have 500 bitcoins or 1000 bitcoins? Thats the different in short term. Even if what you are saying is right, timing is everything, that is something both the early adopters (as you?) and the ones that bought at 30 dollars understand...

it depends on your motivation. Most that bought into bitcoin these last few months were looking to make a quick buck. If I had 1000 bitcoins I'd hold on to them and wait at least a year before moving. If you bought 1000 @ $30 as a short term investment you was very silly to do so Cheesy The way you have worded your reply sounds like your holding on to a short term investment. Using phrases like"That's the different in short term" and "timing is everything" is classic day trader talk like the silly posts here titled CRASH and SELL. Wise people are in it for the long haul Cheesy

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August 03, 2011, 12:17:07 PM
 #34

My calculations confirms that equilibrium price are around 5$ and rely on miners behavior, not only on people using and trading bitcoins. Actual demand of bitcoins is really low. I suppose without Silk Road we never saw it over 10$ for long time.

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August 03, 2011, 06:03:38 PM
 #35

12 dollars not so many hours ago, down to 8,70 dollars, and now just over 10 dollars. Another opportunity to sell over 10 dollars (as I see it)...Probably the last one in many weeks.
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August 03, 2011, 06:07:23 PM
 #36

12 dollars not so many hours ago, down to 8,70 dollars, and now just over 10 dollars. Another opportunity to sell over 10 dollars (as I see it)...Probably the last one in many weeks.

Yes agreed, it seems like once it hits a new low it is not long before it will be below that last low.

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August 04, 2011, 11:30:19 AM
 #37

Keep in mind the wise adage "Past Performance Does Not Guarantee Future Results."

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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August 05, 2011, 01:50:22 AM
 #38


WELL SAID!

Posts like these do make me laugh Cheesy I don't normally entertain them but I'm feeling frisky this morning. What I don't get is why there are so many people worried about what the price is doing atm ! it's got nothing to do with the future of bitcoin. This is my opinion and in no way am I saying that I am right or wrong but we are still in the very early stages of bitcoin. The hype has caused many non technical people and traders trying to make a quick buck to the table and the price of bitcoin is unstable to say the least. trying to predict if its time to make or break is a mugs game in my opinion !! It's all about the future Wink Once things are established bitcoin I predict will be very different than it's current form. People will start services and offer solutions to the non technical minded and then we will see the real worth of bitcoin.

Your average Joe is not interested in block chains, crypto currency and how money works. If you asked the majority of the world how do currencies work they would probably shrug their shoulders at you or take you to the nearest shop so you can witness them buying something. Once bitcoin has been established there will be bitcoin banks, payment portals, merchant services and just about every way you can think of to spend and transfer money without having to install a client on your computer or even use a computer.

If you was a smart person you would not worry about how much electric you are using or how much money your loosing right now because the smart people know that as the governments of the world fail miserably to cover up there mistakes there's a collective of people that are setting the foundations for a currency that will change the world and the way people think about money. it will give you the choice to stay with a currency owned by dishonest, selfish and destructive people that are in it to make them selves rich or to move over to a currency where you are in control. Where the people of the world decide on how things are run and are not just blindly following the crap they are fed by greedy people.

Just my two pence !!
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August 05, 2011, 06:08:59 AM
 #39


Yes agreed, it seems like once it hits a new low it is not long before it will be below that last low.

The same bulls who saw $24 as a buying opportunity also saw $20 as a buying opportunity.  They next saw $17.5 as a buying opportunity, then $15 followed by $13, and $12, and $11, and now $9.   Not a big wonder they have little cash left to take advantage of the current sale price.

Though at some point they're going to be right.  And I believe that point is like the OP predicts, in the $6 range.  At $14 that pricing was inconceivable, and yet a 30% haircut later it's not so far fetched.

I'm with you.  I expect a $9-$11 trading range for a few weeks before we descend the next stair down.  Mining is still wildly profitable for those of us with existing rigs.  We've got 2 more months of slow pain and then a possible sharp drop when the 7 series or the promised ASIC in a box are released when people cash out to upgrade.  After that we'll see.
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August 05, 2011, 06:12:31 AM
 #40

Keep in mind the wise adage "Past Performance Does Not Guarantee Future Results."
Right, and keep in mind that predictions always fail to take into account the sudden, unexpected events which cause the most serious price swings (both up and down)...

Bitcoin Core developer [PGP] Warning: For most, coin loss is a larger risk than coin theft. A disk can die any time. Regularly back up your wallet through FileBackup Wallet to an external storage or the (encrypted!) cloud. Use a separate offline wallet for storing larger amounts.
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