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Author Topic: If current growth rate continues, $2000 by Dec 16  (Read 2144 times)
Love_and_Squalor (OP)
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December 05, 2013, 02:44:57 AM
Last edit: December 05, 2013, 03:05:40 AM by Love_and_Squalor
 #21

Now my question/ concern is will this growth continue.

Expand your graph to estimate the price 3 months from now and i think that you 'll get your answer  Tongue
i think its safe to assume it wont. but I wonder what price will be once this rate exhausts itself. once buyers run out of steam, sellers will take over driving price down in the same exponential fashion. i've been reading about damped oscillatory patterns because i see them everywhere on bitcoin charts. I'm not exactly sure of all the factors that drive these patterns but its interesting to think about none the less.
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December 05, 2013, 06:59:19 AM
 #22

You should read rpietila's posts...

Market will not "crash". But it will serioulsly correct (-75%) when (and only after) it has grown more than 50% per day for at least 2 days.

Maybe it will crash from $2000 to $500.
Maybe it will crash from $5000 to $1000.
Maybe it will crash from $10000 to $2000.

Nobody knows.

Only thing we know is that right now it needs 4.5 millions dollars of new money every day to stay at this price...

75% is a crash and will never happen again unless bitcoin also fails.  There are too many people now to absorb the large dollar swings that whales could manage.  I think > 33% will never happen again.  So far, I've been right.

You do realize that Second Market is buying about ⅓ of the miners' new coins every day singlehandedly, right?  Wait until we get a couple more hedge fund managers that want their fund to look really good.  Pretty soon they'll be buying MORE than the mined coins every day.




Agree, Price is following the hashrate! harder it is to mine the longer miners need to hold onto there coins to sell for a profit. Those who control the supply, Control the price! Who do you think owns all the diamond mines. They burn diamonds to to keep the price up!


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pand70
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December 06, 2013, 06:11:57 PM
 #23

Also you may want to run your numbers again, this time taking in account the recent news from china  Tongue
I think talking about 2000$ suddenly looks way more distant...

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