We're WAY too CONFIDENT about the current BTC Price. See picture in topic.

[Nemesis]

I tell people that "okay, so you think it will drop? then short it(some exchanges support this)" most people are quiet after that - lol

the reason why they're quiet is because they already sold their coins...... lol yeah i want price to drop to buy back in.

[Paladin69]

If it drops Ill just buy a hole bunch of bitcoins and hope it has one of these huge up sprees in prices again

Same here. I've been telling all my bitcoin friends that I hope it goes to $100. I'll still sell at $350 on the way down and make a good profit. Then I'll buy a boat load at the bottom and start all over again. I'm ready to ride this love rollercoaster!

you clearly don't really understand investing or btc that well, but its ok. basically don't expect it to go back to 100, unless the us government shuts it down or something, but then it will be worth $0 (this is incredibly unlikely, and possibly impossible). i'd say the lowest it would go at this point would be perhaps $200, but like come on...

Could very easily fall close to hundred if the Chinese Government decides BTC China should be shut down.  They don't let their people invest in much...so why give their btc exchange a free pass?

The only reason why it probably isn't shut down yet is because some colluding with Government officials is going on. A few rich people are clearly involved right now.

[DoomDumas]

Sorry, dont want to be negative, but this kind of chart is CRAPPY !

Use Logscale charts, then you'll get some credibility !

Here's the char for the last running 12 months... ending with this month so far:

I'd like to point out the bubble that burst back in april. It didn't just fall from $266 to $200... it literally tanked. Now I'd like to draw your attention to the right side of this chart... see something similar?



Yep. If you're dealt with bitcoins for a long time, you'll know that history has repeated itself in the past with bitcoin (Remember the first time it hit $28?? haha.. yeah we were all shocked.)

Anyway, be very very very careful.

[DoomDumas]

you do know that those charts mean nothing if they aren't logarithmic. i hope you know what those are.

going parabolic in log = madness

THIS IS RELEVANT !   Thanks

[haightst]

If it drops Ill just buy a hole bunch of bitcoins and hope it has one of these huge up sprees in prices again

Same here. I've been telling all my bitcoin friends that I hope it goes to $100. I'll still sell at $350 on the way down and make a good profit. Then I'll buy a boat load at the bottom and start all over again. I'm ready to ride this love rollercoaster!

you clearly don't really understand investing or btc that well, but its ok. basically don't expect it to go back to 100, unless the us government shuts it down or something, but then it will be worth $0 (this is incredibly unlikely, and possibly impossible). i'd say the lowest it would go at this point would be perhaps $200, but like come on...

Could very easily fall close to hundred if the Chinese Government decides BTC China should be shut down.  They don't let their people invest in much...so why give their btc exchange a free pass?

The only reason why it probably isn't shut down yet is because some colluding with Government officials is going on. A few rich people are clearly involved right now.

not shut down you mean - taken over! bwaaahahaaha =)

[umaOuma]

I tell people that "okay, so you think it will drop? then short it(some exchanges support this)" most people are quiet after that - lol

the reason why they're quiet is because they already sold their coins...... lol yeah i want price to drop to buy back in.

Selling all coins is not best, you can never be sure you will be able to buy lower

[deisik]

Selling all coins is not best, you can never be sure you will be able to buy lower

It cuts both ways really. How can you be sure that the price will ever go higher?

[umaOuma]

Selling all coins is not best, you can never be sure you will be able to buy lower

It cuts both ways really. How can you be sure that the price will ever go higher?

You can never be sure. But when you sell all at 400, and no correction under 400 happens next half year, when do you buy, never?

[haightst]

Selling all coins is not best, you can never be sure you will be able to buy lower

It cuts both ways really. How can you be sure that the price will ever go higher?

21million bitcoins X  - > how many people are on the planet?  /\5OO+KABOOMMM!!!  

[deisik]

You can never be sure.

At first you said you can never be sure you will be able to buy lower, now you say you can just never be sure (for anything). I like the train of your thought, dude!

But when you sell all at 400, and no correction under 400 happens next half year, when do you buy, never?

I could have said something about price going down to zero within the next three months, but what actually matters are relevant facts, not wishful thinking. Do you have any, pro and contra?

[vps15]

probs should have listened to me...

[cryptoanarchist]

I certainly agree and hope we're right since I have been selling some of my btc off on the way up. Last time the price rose like this was because of the Cyprus debacle and this time its China. The difference this time from that spike and the 2011 $30 spike is that this one has been more sustained, so I don't think we're going to sell off as much %-wise, but I am anxiously awaiting a significant price drop.