Timeframe for new highs

[wobber]

Based on the previous experience of bitcoin going from 1 to 32, and provided a RALLY would start now, is there a way to determine how fast it could go to that point again and even higher?

I am currently being bullish on bitcoin because I see that it won't dip below 3.80.

[Shinobi]

Lol

[NamelessOne]

I'm bullish as well, though there is no way to predict exact speed of new highs, it would be a wave of up and downs gradually getting higher. The climb from 7-8 to 32 took about two weeks at the beginning of the summer.

[being]

Based on the previous experience of bitcoin going from 1 to 32, and provided a RALLY would start now, is there a way to determine how fast it could go to that point again and even higher?

I am currently being bullish on bitcoin because I see that it won't dip below 3.80.

my crystal ball says it's gonna hit 32 in about 348hours from now.

[S3052]

The strength and speed of the next rally will show us whether we will be in a strong 3rd wave up or a fifth, terminal wave.
If it will be a THIRD (edit, was a typo before) wave, you will likely see a new high reached even faster than the move from 1$ to 32$.
If it is a fifth wave, it can be very slow, taking up to 6-12 months.

Near term, it seems that some news flow and the OWS movement leads to many new bitcoin users / investors. I see that on my twitter followers which jumped to records in the past few days, much more growth than the past months before.
This is not fully reflected in the Bitcoin price as it will take some time for new people to get funds into the exchanges.

[Mousepotato]

I'm bullish as well, but not for another couple years.  In the meantime I hope it goes lower (difficulty too).

[Crypt_Current]

Near term, it seems that some news flow and the OWS movement leads to many new bitcoin users / investors.

I was thinking this as well... good to see others thinking along similar lines.

When people talk about Bitcoin going "back to its obscure geeky roots" or whatever -- I just don't see that as a possibility, especially with OWS accepting donations in BTC now.  These protesters are fired up and as long as they have enough brain capacity to understand "BTC = useful", their acceptance will help the bull market.

[NamelessOne]

Current trendlines would indicate that 'another couple years' may not be an option. Right now is an important time for bitcoin.  I hope it is the third wave that S3052 mentioned.

[S3052]

Current trendlines would indicate that 'another couple years' may not be an option. Right now is an important time for bitcoin.  I hope it is the THIRD (sorry I had a typo) wave that S3052 mentioned.

[zby]

I've also noticed increasing interest in bitcoin and I was thinking about the coincidence with S3052 predictions - seems uncanny.  I even invested a bit - maybe too early.

[fivebells]

Bitcoin will take off again when you can do something with it which you can't do with real money.  (Not that far fetched, but hard to put a timeline on, from what I know.)

[BitMagic]

You know one idea I haven't seen anywhere on these forums? That the jump in June was minimally caused by new adopters. Instead, it was the existing community deciding to spend more and hoard more above and beyond the introduction of new miners (old miners expanding?), based on the wrongful perception that news = new.

I have no evidence either way, but it sure wouldn't surprise me (and it would be hilarious) if you all were just fondling each others' jewels this whole time.

[Crypt_Current]

You know one idea I haven't seen anywhere on these forums? That the jump in June was minimally caused by new adopters. Instead, it was the existing community deciding to spend more and hoard more above and beyond the introduction of new miners (old miners expanding?), based on the wrongful perception that news = new.

I have no evidence either way, but it sure wouldn't surprise me (and it would be hilarious) if you all were just fondling each others' jewels this whole time.

Attitudes like yours make the world a shitty place.  Your precious traditional economy is about to crash hard -- why don't you go revel in that assured carnage??  But you probably already do.

[wareen]

the jump in June was minimally caused by new adopters.
...
I have no evidence either way

Well, I have - the number of forum users nearly doubled in June.
Please come back if you have evidence to support your wild speculations.

[dree12]

the jump in June was minimally caused by new adopters.
...
I have no evidence either way

Well, I have - the number of forum users nearly doubled in June.
Please come back if you have evidence to support your wild speculations.

The number of forum users more than hundredfolded the first week this forum was founded  .
Of course, the correlation has held previously, but it's important to realize that it is just a correlation.

[wareen]

The number of forum users more than hundredfolded the first week this forum was founded  .

So it seems - what do you conclude from this observation?

Of course, the correlation has held previously, but it's important to realize that it is just a correlation.

Sure, hence the term evidence instead of proof.

[ama]

my crystal ball says it's gonna hit 32 in about 348hours from now.

You should NTP sync your ball, it'll actually be in 348.5.  Oh, wait, your ball said "in about..."

[BitMagic]

the jump in June was minimally caused by new adopters.
...
I have no evidence either way

Well, I have - the number of forum users nearly doubled in June.
Please come back if you have evidence to support your wild speculations.

Nice, you should tell everyone who has no evidence to quit posting. You'll find 3 people left.

Maybe you should come back when you don't have any evidence? This is the speculation subforum. Thanks.

[Elwar]

The price will fly past $32 by the middle of next week on its way to $1000/BTC where it will hold steady for about 2 years.

[bayer]

nice joke....