over $3! almost 50% gain in 72 hours!

[El Cabron]

So, how long until the next 50% up?   

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[ElectricMucus]

buy, buy, buy!!11111

No srsly there is correction from this rally coming up and who knows what it's gonna do from there....

[worldinacoin]

I am now regretting that I did not but at $2 plus, but the funding is so complicated that I gave up .  But the uptrend looks great, not many walls for bitcoin to surmount.

[Mousepotato]

Yeah, but... it's still at $3 

[BadBear]

I am now regretting that I did not but at $2 plus, but the funding is so complicated that I gave up .  But the uptrend looks great, not many walls for bitcoin to surmount.

Once it starts to stagnate people who have been buying on the way down and are gonna dump and fuel an even harsher crash.  Down below 2 this time.  Rinse and repeat a few times. 

[anu]

Once it starts to stagnate people who have been buying on the way down and are gonna dump and fuel an even harsher crash.  Down below 2 this time.  Rinse and repeat a few times. 

You are forgetting that it's getting quite easy at that rate to buy up everything that's offered.

[ElectricMucus]

Once it starts to stagnate people who have been buying on the way down and are gonna dump and fuel an even harsher crash.  Down below 2 this time.  Rinse and repeat a few times.  

You are forgetting that it's getting quite easy at that rate to buy up everything that's offered.

If you want some relevant part of the pie you"ll still need 4-5 figures in USD I wouldn't call that easy. And that doesn't even give serious influence on the market, just to play the game as it is being played now.

[teukon]

No srsly there is correction from this rally coming up and who knows what it's gonna do from there....

Normally yes, there would be a correction to a rally.  But in this case the rally itself is arguably nothing more than a correction to the downward trend we've experienced over the last 3 months.  I wouldn't care to guess where the price will go from here.

[GoWest]

The $3 wall: the gift that keeps on giving.  Every time it gets knocked down, it gets right back up!

[proudhon]

We're not going to make it beyond $3.  Go ahead, watch.

[ElectricMucus]

No srsly there is correction from this rally coming up and who knows what it's gonna do from there....

Normally yes, there would be a correction to a rally.  But in this case the rally itself is arguably nothing more than a correction to the downward trend we've experienced over the last 3 months.  I wouldn't care to guess where the price will go from here.

Well the gap is a classical reversal pattern but suit yourself.

[N12]

We're not going to make it beyond $3.  Go ahead, watch.

proudhon, if you have abandoned Bitcoin, how come you show more activity than before? Also, what will you do if it does break 3$?

Not that I’m saying you are wrong. This situation reminds me exactly of what happened at 7$.

[proudhon]

proudhon, if you have abandoned Bitcoin, how come you show more activity than before?

Just hanging around for the thrilling conclusion.

Also, what will you do if it does break 3$?

I'll have been wrong.

[N12]

Well, you were wrong.

3$ new support level now?

[log0s]

I think $3 is near the top of the overall (apparently accelerating) downward trend right now...I don't anticipate it breaking this bigger trend to the upside, either.

Here's a (logarithmic) chart:

http://img580.imageshack.us/img580/2969/8monthdailychart.png

[proudhon]

I think $3 is near the top of the overall (apparently accelerating) downward trend right now...I don't anticipate it breaking this bigger trend to the upside, either.

Exactly.  So what if we poke up above $3 for a little bit.  I'm confident that a week from now we'll be below $3 consistent with the clear abandonment of bitcoin.

[GoWest]

I think $3 is near the top of the overall (apparently accelerating) downward trend right now...I don't anticipate it breaking this bigger trend to the upside, either.

Exactly.  So what if we poke up above $3 for a little bit.  I'm confident that a week from now we'll be below $3 consistent with the clear abandonment of bitcoin.

I would love to make a side bet with you...

If he accepts a bet, and it's done it Bitcoin, it would be entirely ironic.

[OgNasty]

Exactly.  So what if we poke up above $3 for a little bit.  I'm confident that a week from now we'll be below $3 consistent with the clear abandonment of bitcoin.

Judging from the future difficulty estimates, I'd say enough miners finally threw in the towel to bring demand in line with supply.  I think we'll probably see a slow and steady rise in price until the next difficulty reset.

[evoorhees]

Exactly.  So what if we poke up above $3 for a little bit.  I'm confident that a week from now we'll be below $3 consistent with the clear abandonment of bitcoin.

Judging from the future difficulty estimates, I'd say enough miners finally threw in the towel to bring demand in line with supply.  I think we'll probably see a slow and steady rise in price until the next difficulty reset.

Supply from mining is always constant.  A falling price does not reduce new mining supply.

[GoWest]

If he accepts a bet, and it's done it Bitcoin, it would be entirely ironic.

YES, I did not think he would catch on however. BTW love your site.

Thanks!