Tuesday Price Prediction

[cbcb]

Utilizing the recent bitcoin news: What's your expectation of the price of bitcoin on tuesday?
Note: today is sunday.

Scenario #1:
All the late buyers will take the oppurtunity of the current price. When more trading resumes on monday. Sending btc to 1200usd


Scenario #2:
People are too afriad to buy - fearing another crash, like earlier this year. BTC drops to $500 and stays.

[1714626365]

1714626365

[zeroday]

It will recover and go beyond $1200

Everybody now is aware of "weekend crashes" and finds it as just a good opportunity to buy.
Demand is still strong as more and more people get verified and have their money deposited.

[exstasie]

I'm thinking it iwll recover a bit..but won't stay above $1,100 by the end of the day!

[windjc]

Utilizing the recent bitcoin news: What's your expectation of the price of bitcoin on tuesday?
Note: today is sunday.

Scenario #1:
All the late buyers will take the oppurtunity of the current price. When more trading resumes on monday. Sending btc to 1200usd


Scenario #2:
People are too afriad to buy - fearing another crash, like earlier this year. BTC drops to $500 and stays.

Looking at the charts, I would say Scenario #2 is more likely. Although, I do not think it has to go to $500. I could go to $700 or $750.

However, because this sell off was on a weekend, when no new fiat was moving in, I am skeptical of its staying power. The charts look like we will test the lows of today. But depending on money coming tomorrow, this correction may be short lived. I think we will have our answer in 36 hours.

[disclaimer201]

It will sure recover. It already has. These dips are good traps to get newbies' coins. So, going up from here.

[BittBurger]

1)  Senate hearing 2 weeks ago:  Droves sign up and wait a week for account verification

2)  Droves make first purchases, kicking Bitcoin from 850 to 1200 this past week.

3)  Droves want to buy more but first purchase is only 10 BTC and they must wait another week for first purchase to clear.

4)  Tuesday/Wednesday first purchases clear and droves able to buy more, with higher quantities and instant availability.

Therefore:  I have a feeling this week is going to see another big jump.

[windjc]

1)  Senate hearing 2 weeks ago:  Droves sign up and wait a week for account verification

2)  Droves make first purchases, kicking Bitcoin from 850 to 1200 this past week.

3)  Droves want to buy more but first purchase is only 10 BTC and they must wait another week for first purchase to clear.

4)  Tuesday/Wednesday first purchases clear and droves able to buy more, with higher quantities and instant availability.

Therefore:  I have a feeling this week is going to see another big jump.

Ok. Tell that to China.

[BittBurger]

1)  Senate hearing 2 weeks ago:  Droves sign up and wait a week for account verification

2)  Droves make first purchases, kicking Bitcoin from 850 to 1200 this past week.

3)  Droves want to buy more but first purchase is only 10 BTC and they must wait another week for first purchase to clear.

4)  Tuesday/Wednesday first purchases clear and droves able to buy more, with higher quantities and instant availability.

Therefore:  I have a feeling this week is going to see another big jump.

Ok. Tell that to China.

China had nothing to do with the most recent surge past $1,000 here in the USA.

Those mass purchases came from Europe and the Americas this time around.

China is why we went from 150 to 800 ....

[bitleif]

It will recover and go beyond $1200

Everybody now is aware of "weekend crashes" and finds it as just a good opportunity to buy.
Demand is still strong as more and more people get verified and have their money deposited.

The Hopium is strong with this one.

[notme]

It will recover and go beyond $1200

Everybody now is aware of "weekend crashes" and finds it as just a good opportunity to buy.
Demand is still strong as more and more people get verified and have their money deposited.

The Hopium is strong with this one.

He had his fiat seized in Cyprus.  Can you really blame him for being a bitcoin fanboy?

[Coinseeker]

It's the holidays, nobody cares about Bitcoin.  This wasn't just a "weekend" crash, this was/is a crash on the largest consumer spending days of the year.  Clearly proves (as if there was any doubt for the non-delusional) that Bitcoin prices are pure speculation and have nothing to do with consumers spending Bitcoin.  In fact, one could make the argument, many people cashed out to go shopping with government fiat.  

There are mega whales with eyes on Bitcoin speculation, so it's always possible one or more of them dumps 10-20 million on Bitcoin but assuming we're basing Tuesday on regular people, I'd say we're in for a good dose of capitulation.   I pick #2.

[NUFCrichard]

1)  Senate hearing 2 weeks ago:  Droves sign up and wait a week for account verification

2)  Droves make first purchases, kicking Bitcoin from 850 to 1200 this past week.

3)  Droves want to buy more but first purchase is only 10 BTC and they must wait another week for first purchase to clear.

4)  Tuesday/Wednesday first purchases clear and droves able to buy more, with higher quantities and instant availability.

Therefore:  I have a feeling this week is going to see another big jump.

Ok. Tell that to China.

China had nothing to do with the most recent surge past $1,000 here in the USA.

Those mass purchases came from Europe and the Americas this time around.

China is why we went from 150 to 800 ....

I like the fact that the UK national mint are going to mint golden bitcoins.  That is getting mainstream!

[disclaimer201]

It's the holidays, nobody cares about Bitcoin.  This wasn't just a "weekend" crash, this was/is a crash on the largest consumer spending days of the year.  Clearly proves (as if there was any doubt for the non-delusional) that Bitcoin prices are pure speculation and have nothing to do with consumers spending Bitcoin.  In fact, one could make the argument, many people cashed out to go shopping with government fiat.  

There are mega whales with eyes on Bitcoin speculation, so it's always possible one or more of them dumps 10-20 million on Bitcoin but assuming we're basing Tuesday on regular people, I'd say we're in for a good dose of capitulation.   I pick #2.

Bitcoin never became what it is because it's so cool for spending. It became big because it's a store of value, a haven for tax evaders, and a hell of a speculation vehicle. Never underestimate greedy people.

[thezerg]

It's the holidays, nobody cares about Bitcoin.  This wasn't just a "weekend" crash, this was/is a crash on the largest consumer spending days of the year.  Clearly proves (as if there was any doubt for the non-delusional) that Bitcoin prices are pure speculation and have nothing to do with consumers spending Bitcoin.  In fact, one could make the argument, many people cashed out to go shopping with government fiat.  

There are mega whales with eyes on Bitcoin speculation, so it's always possible one or more of them dumps 10-20 million on Bitcoin but assuming we're basing Tuesday on regular people, I'd say we're in for a good dose of capitulation.   I pick #2.

Not sure what you are arguing here.  Let me try:

Last weekend was one of the largest consumer spending weekends of the year.  BitPay reported record Bitcoin spending and much of this is probably converted to fiat.  We had a 4-day "weekend", severely depleting the incoming funds.  With all this going on, market manipulators attempted to crash the market as evidenced by simultaneous hacks on bitcointalk and DDOS on campbx and bitstamp.  However, this crash attempt was only able to bring the market back to where it was a week ago and we have subsequently risen back to > 1000 USD per coin.

I think we may rise quite a bit more before the blow off...

[Chalkbot]

It's the holidays, nobody cares about Bitcoin.  This wasn't just a "weekend" crash, this was/is a crash on the largest consumer spending days of the year.  Clearly proves (as if there was any doubt for the non-delusional) that Bitcoin prices are pure speculation and have nothing to do with consumers spending Bitcoin.  In fact, one could make the argument, many people cashed out to go shopping with government fiat.  

There are mega whales with eyes on Bitcoin speculation, so it's always possible one or more of them dumps 10-20 million on Bitcoin but assuming we're basing Tuesday on regular people, I'd say we're in for a good dose of capitulation.   I pick #2.

Not sure what you are arguing here.  Let me try:

Last weekend was one of the largest consumer spending weekends of the year.  BitPay reported record Bitcoin spending and much of this is probably converted to fiat.  We had a 4-day "weekend", severely depleting the incoming funds.  With all this going on, market manipulators attempted to crash the market as evidenced by simultaneous hacks on bitcointalk and DDOS on campbx and bitstamp.  However, this crash attempt was only able to bring the market back to where it was a week ago and we have subsequently risen back to > 1000 USD per coin.

I think we may rise quite a bit more before the blow off...

This. All the spending of bitcoin on Black Friday is downward pressure, not upward as Coinseeker suggests, as most of it is done by those already holding bitcoin, and processed through services like bitpay, which sell the bitcoin at market prices.  All of these forces working in concert barely pushed the price down. I'm voting for up. Up a lot.

[wachtwoord]

Black Friday was definitely downward pressure. But doesn't Bitpay insta-sell. On Friday?

[beetcoin]

It's the holidays, nobody cares about Bitcoin.  This wasn't just a "weekend" crash, this was/is a crash on the largest consumer spending days of the year.  Clearly proves (as if there was any doubt for the non-delusional) that Bitcoin prices are pure speculation and have nothing to do with consumers spending Bitcoin.  In fact, one could make the argument, many people cashed out to go shopping with government fiat.  

There are mega whales with eyes on Bitcoin speculation, so it's always possible one or more of them dumps 10-20 million on Bitcoin but assuming we're basing Tuesday on regular people, I'd say we're in for a good dose of capitulation.   I pick #2.

isnt' "consumers spending bitcoin" part of the speculation though? so if a lot of people start using bitcoins for purchases, it would drive speculation up. at this point, i'm not sure if anyone thinks the majority of the uptrend in BTC's price isn't from speculation.. but the question is, how much of it is based on good speculation vs. pure random speculation?

it's not like bitcoin is a corporation that produces goods or sells services, so of course it is for the most part speculation. trading gold and dollars is the same thing.

[Xialla]

It will recover and go beyond $1200

yep, I expect same scenario.)