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Author Topic: When it bottoms out at 5 or 6, will it go back up or will it just hover?  (Read 978 times)
Minsc
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September 06, 2011, 03:52:01 AM
 #1

Just lingering at 5 or 6 for a month before it jumps to some random price.

From what I've seen, the price jumps somewhere and then just lingers and lingers.

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September 06, 2011, 04:55:41 AM
 #2

Don't worry, it will hover a bit at 6... then at 4... then at 2... then at 1... then at 0.5... etc.
You will have plenty of time to abondon the bitcointrain at steady platforms!



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September 06, 2011, 11:16:51 AM
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September 06, 2011, 11:37:06 AM
 #4

Just lingering at 5 or 6 for a month before it jumps to some random price.

From what I've seen, the price jumps somewhere and then just lingers and lingers.
Well this is a good question. One thing that's important to note is that a change of one dollar in price is relatively a MUCH bigger deal when we close in on the smaller single digits. There is a huge difference between $5 and $6 and I think this will prove fairly critical in the near future.

We will probably see a major correction when the price bottoms out, whatever the bottom might be. To at least $7+, possibly $8+. Then it's a good question what will happen, there is a possibility of a trend changing rally and there's also a possibility of continuing decline.

But contrary to the doomsday-trolls I feel that a stable price lower than $5 is pretty much not happening, at all. I don't even think of that situation because it's simply so unlikely, the demand for cheap coins just rises exponentially going down from $7 to $4 so with the current fundamentals I can't see a price below $5. I can only see a spike below $5 but even that is very unlikely.

This might of course change and I might think differently in a few weeks but my current estimate for this month in general is positive and quite bullish. It's entirely possible that this is the last crash we're going to see in a while. But time will tell.

 

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Minsc
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September 06, 2011, 05:14:29 PM
 #5

Thing is, people are expecting it to jump back up so they gotta rush to buy it when it hits bottom.  What if it bottoms out and doesn't rush back up so that means there's no rush to buy the coins?

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September 06, 2011, 05:17:03 PM
 #6

buy if it goes down to 5.   we saw this happen about a month ago where it went down to about 5 for a day or two then rallied back up to ~12 over the following few weeks.

Minsc
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September 06, 2011, 05:18:14 PM
 #7

I hope it doesn't rally up now while I'm still waiting to buy.  So far none of the big buy attempts have lasted.

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September 06, 2011, 05:20:11 PM
 #8

buy if it goes down to 5.   we saw this happen about a month ago where it went down to about 5 for a day or two then rallied back up to ~12 over the following few weeks.
Ok, then it will happen again I guess.  Cheesy

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September 06, 2011, 05:25:13 PM
 #9

just giving advice with my expert market analysis.   Wink

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