Gentlemen (and ladies). The main reason, other than booming demand and popularity (as we are all *well* aware of
), that I suspect the price will increase as I have outlined is mainly based on the speculation of a correlation between price and mining difficulty.
I have seen this correlation made before on the forums, but if you look at all three of the major rallies/peaks and subsequent crashes over the past month, they line up nigh on exactly with the difficulty increase, and there is also a relationship between the reduction in the mining network total hashrate and the 900-500 correction (in other words, if you see a big drop in the network hashrate, get out or move to an altcoin for a day or two). I poured over the graphs, studying, analysing and overlaying for hours and lately it has proved to be a great indicator for the price increases and times to buy
To some of you this relation may be indeed old hat. Also I have seen on this forum people saying the two are not related. I have found it to be the case. Take it with a grain of salt.
The thing is BTC and all cryptos, I have found, follow rather predictable patterns (I have found so far). I also believe that FTC is about to undergo a massive increase in the next 4-5 days akin to what we saw in LTC recently (akin to LTC @ 10 currently; but that's not to say i think FTC will get to $4...). Even though I hate FTC and I, so far from what I've seen, I think it's a scam coin, I still think it will happen.
There are others that are showing signs of improvement too. Sadly, due to Cryptsy being a piece of S*** (!!!!!) and not depositing my funds quick enough I missed out on a great opportunity yesterday (MEC). Megacoin just went from $0.56 to $2.70. Around 500%. Thankfully a friend of mine got in there. Franko (FRK) also made huge gains overnight and both continue to grow.
Fortunately, I just bought into QRK at 0.000048 BTC/QRK and tripled my BTC holdings in around 10 hours (and it's up another 10% in the time it took to write this EDIT: And now another 100% of my initial investment from 0.00014 to 0.00019 in the time to read through my post... get in while you still can), so honestly, I'm not that upset, especially after seeing Max Keisers' most recent tweet regarding Quark. The same guy that said LTC to $50... What happened? So far 4 week return sitting around 2500% I think, I haven't had time to work it out.
So far I've been right about my predictions and multipied my BTC holdings greatly, and I believe I'm about to again. Call me stupid and say price/difficulty aren't related. Don't take my word, look at the graphs.
I'm not here to brag, only to try and share my findings because I know there is a great community here and I am not comfortable just keeping this to myself.
