[CLOSED] Bitcoin will hit $1000 by this Friday (07-03-2014)

[Armis]

You must be kidding.... MY ADVICE IS SELL WHILE YOU CAN GET THIS PRICE !!!

What drove you to this conclusion?

If you ask me I'd buy because the trend used to be above 700$ -this was visible when bitcoin crashed in December, quickly came back to prices between $700 and $800, and remained there for almost a month until the Gox fail. If there are no bad news like a large theft, hack, bug the price will slowly go up.

Before a war starts both sides think they will win, once the death toll rises on both sides they are stuck by the true value of human life, and human resources.

The most recent Mt Gox matter financially destroyed very many people, they were very big, they had the best (phony) rates, and they were the oldest in the industry.
What happened to them could easily be repeated with any other exchange as it stands now, so the market that you remember is no longer the market that you are in, this is a redeveloping BTC market

as I indicated above " ... this one has less ignorance, ... demanding more accountability"   

The media hype of yesterday no longer effects this new market in the same old fashioned way.

[igorr]

It's go to slowly to zero

[Armis]

It's go to slowly to zero

hope not, but if it does it will have a new beginning, and a long enough history to learn from

[igorr]

It's go to slowly to zero

hope not, but if it does it will have a new beginning, and a long enough history to learn from

I do not mean it to zero, but certainly at some 50-60 usd to 100 usd max

[fonzie]

It's go to slowly to zero

hope not, but if it does it will have a new beginning, and a long enough history to learn from

I do not mean it to zero, but certainly at some 50-60 usd to 100 usd max

By the end of 2014 we will definetly be under 100$. Maybe even in the next 3 months. We´ll see.

[Hfertig]

You must be kidding.... MY ADVICE IS SELL WHILE YOU CAN GET THIS PRICE !!!

What drove you to this conclusion?

If you ask me I'd buy because the trend used to be above 700$ -this was visible when bitcoin crashed in December, quickly came back to prices between $700 and $800, and remained there for almost a month until the Gox fail. If there are no bad news like a large theft, hack, bug the price will slowly go up.

Oh very easy. MTGox bancrupt, Flexcoin robbed, Poloniex hacked and robbed. Not all news are good news. While the closing of SR was positive publicity, as a lot of people heard how rich you can become with bitcoin. The latest news has the opposite tone. You lose money if you invest in bitcoin.
Exchanges have proven to be insecure, unfortunately they are the Gateway to buy and sell coins. New joiners to the scheme will dry up and existing cash is withdrawn.

coming to trends. The downtrend is very obvious. It will require a lot of coins to push through the current line at roughly at 690. If I had coins I would sell them, due to the limited upside and high downside. If I had no coins I would short them....

[Lauda]

It's go to slowly to zero

You're delusional.

[Armis]

It's go to slowly to zero

hope not, but if it does it will have a new beginning, and a long enough history to learn from

I do not mean it to zero, but certainly at some 50-60 usd to 100 usd max

By the end of 2014 we will definetly be under 100$. Maybe even in the next 3 months. We´ll see.

Sure if we do nothing to improve the problem, however if the community solves the problem it will shoot up to $1000 the very same week the solution is found.

For clarity the problem is the missing money, and the solution is:
1) finding and returning the missing money to their rightful owners, and if that is not possible or doesn't happen  
2) exchanges upgrading security, having actual insurance, providing guarantees, being bonded, being community certified, having audited funds, signing specific transactions to proved solvency, becoming more transparent, more accommodating, more accountable, more reliable, etc ...  enough to actually make up for any fault in the btc protocol.

if neither 1 nor 2 take place then I believe you have a valid point.

[Armis]

You must be kidding.... MY ADVICE IS SELL WHILE YOU CAN GET THIS PRICE !!!

What drove you to this conclusion?

If you ask me I'd buy because the trend used to be above 700$ -this was visible when bitcoin crashed in December, quickly came back to prices between $700 and $800, and remained there for almost a month until the Gox fail. If there are no bad news like a large theft, hack, bug the price will slowly go up.

Oh very easy. MTGox bancrupt, Flexcoin robbed, Poloniex hacked and robbed. Not all news are good news. While the closing of SR was positive publicity, as a lot of people heard how rich you can become with bitcoin. The latest news has the opposite tone. You lose money if you invest in bitcoin.
Exchanges have proven to be insecure, unfortunately they are the Gateway to buy and sell coins. New joiners to the scheme will dry up and existing cash is withdrawn.

coming to trends. The downtrend is very obvious. It will require a lot of coins to push through the current line at roughly at 690. If I had coins I would sell them, due to the limited upside and high downside. If I had no coins I would short them....

well said

[boomertoo]

tick...tick....tick....tick   

[Armis]

hahaha the market is actually showing a little pep in the price, it have moved much faster in the past hour than over the past three days, if this keeps up it just might hit $1000

but the likelihood of this growth rate being sustained is near zero, but I like the last ditch effort ...

[derpinheimer]

hahaha the market is actually showing a little pep in the price, it have moved much faster in the past hour than over the past three days, if this keeps up it just might hit $1000

but the likelihood of this growth rate being sustained is near zero, but I like the last ditch effort ...

Thats nonsense. The volume is still poor right now and nowhere near where it was hours ago, let alone days ago.

[Hfertig]

to me it does look like that 2 or 3 guys believe coins are cheap and bidding on top of each other, destroying their entry price. This is all in the 100-300 size area, nothing major and will not change the current trend.

[Armis]

hahaha the market is actually showing a little pep in the price, it have moved much faster in the past hour than over the past three days, if this keeps up it just might hit $1000

but the likelihood of this growth rate being sustained is near zero, but I like the last ditch effort ...

Thats nonsense. The volume is still poor right now and nowhere near where it was hours ago, let alone days ago.

it doesn't matter what the volume is, all there needs for a price to increase is more demand for less supply, that's the case for 1M btc as well as 2 btc.

to me it does look like that 2 or 3 guys believe coins are cheap and bidding on top of each other, destroying their entry price. This is all in the 100-300 size area, nothing major and will not change the current trend.

again, I agree

[EvilPanda]

You must be kidding.... MY ADVICE IS SELL WHILE YOU CAN GET THIS PRICE !!!

What drove you to this conclusion?

If you ask me I'd buy because the trend used to be above 700$ -this was visible when bitcoin crashed in December, quickly came back to prices between $700 and $800, and remained there for almost a month until the Gox fail. If there are no bad news like a large theft, hack, bug the price will slowly go up.

Before a war starts both sides think they will win, once the death toll rises on both sides they are stuck by the true value of human life, and human resources.

The most recent Mt Gox matter financially destroyed very many people, they were very big, they had the best (phony) rates, and they were the oldest in the industry.
What happened to them could easily be repeated with any other exchange as it stands now, so the market that you remember is no longer the market that you are in, this is a redeveloping BTC market

as I indicated above " ... this one has less ignorance, ... demanding more accountability"  

The media hype of yesterday no longer effects this new market in the same old fashioned way.

Firstly, people who kept money on gox were either newbies who chose it recently or gamblers who thought "it stayed afloat for so long, I'll bet on it" and kept buying even when it was obvious they are dead. Think about that company who invested large money to buy Gox BTC in hope of profit. People were shouting for over a year "dont't keep money on gox, keep them in your wallets", that's why Gox isn't such a big thing, it's more of a PR problem.
Secondly, don't forget gox lost about 2/3 of its money, so technically they could pay back some of their dues. Best case scenario they will be bailed out.

[Armis]

You must be kidding.... MY ADVICE IS SELL WHILE YOU CAN GET THIS PRICE !!!

What drove you to this conclusion?

If you ask me I'd buy because the trend used to be above 700$ -this was visible when bitcoin crashed in December, quickly came back to prices between $700 and $800, and remained there for almost a month until the Gox fail. If there are no bad news like a large theft, hack, bug the price will slowly go up.

Before a war starts both sides think they will win, once the death toll rises on both sides they are stuck by the true value of human life, and human resources.

The most recent Mt Gox matter financially destroyed very many people, they were very big, they had the best (phony) rates, and they were the oldest in the industry.
What happened to them could easily be repeated with any other exchange as it stands now, so the market that you remember is no longer the market that you are in, this is a redeveloping BTC market

as I indicated above " ... this one has less ignorance, ... demanding more accountability"  

The media hype of yesterday no longer effects this new market in the same old fashioned way.

Firstly, people who kept money on gox were either newbies who chose it recently or gamblers who thought "it stayed afloat for so long, I'll bet on it" and kept buying even when it was obvious they are dead. Think about that company who invested large money to buy Gox BTC in hope of profit. People were shouting for over a year "dont't keep money on gox, keep them in your wallets", that's why Gox isn't such a big thing, it's more of a PR problem.
Secondly, don't forget gox lost about 2/3 of its money, so technically they could pay back some of their dues. Best case scenario they will be bailed out.

Please address the part in blue

[EvilPanda]

Please address the part in blue

Part in blue is true, but nothing new. Gox was hacked in 2011, people knew about it and still bought bitcoins, causing the price to jump each year, so why the sudden change of attitude. You believed in bitcoin last year but now you don't because there were some hacks? Exchanges had security problems and they will continue having them, that's why people recommend to keep money in secure wallets.

[MatTheCat]

to me it does look like that 2 or 3 guys believe coins are cheap and bidding on top of each other, destroying their entry price. This is all in the 100-300 size area, nothing major and will not change the current trend.

Watch these joker bids yesterday bidding reasonably large amounts against the grain of common sense and you know what I think?

Fake volume operated by exchanges in order to tease traders into market and then squeeze them out again. Not saying it is exactly that but there is something very baffling and not right about it. Whatever it is, I don't trust it and I think it is all bullshit.

Seems that today there was another big sell off stint just as there was yesterday. Perhaps it the Monday Ukraine panic buyer(s) slowly offloading his position. If this is the case, we can expect a long gradual grind down from here. That was a shit ton of panic bought coins that drove us up to $700 on Monday.

[Garryashas]

The prediction did not come true! it's friday and it's hasn't reach $700 , not to mention $1000

[S4VV4S]

The prediction did not come true! it's friday and it's hasn't reach $700 , not to mention $1000

True.
I might be wrong then.