Crossed 500 USD - Bull Market returns ?

[SunBin]

Am I wrong or the bitcoin's value is mostly based by whales actions on the market?

Of course they can affect the price but it's hardly the only determining factor.

Whales have a huge impact on bitcoin price, because the bitcoin market cap is still rather small, compared to the stock and forex market.

Not as much as it used to be. It will cost them more than 500k to just move $5 on one exchange. We have more than 4-5 major exchanges all over the world supported by bitcoin users of the regions.

So, unless all the whales all over the world coordinate their selling at the same time, we will not see another mtgox meltdown taking bitcoin price down with it.

[ensurance982]

I guess right now we're in a declining triangle again and need to break out upwards in order to get the bull-market going again. I guess the resistance is at about $530 approximately. Quite a big initial resistance at $515-$520, though...

[apsvinet]

Am I wrong or the bitcoin's value is mostly based by whales actions on the market?

Of course they can affect the price but it's hardly the only determining factor.

Whales have a huge impact on bitcoin price, because the bitcoin market cap is still rather small, compared to the stock and forex market.

Not as much as it used to be. It will cost them more than 500k to just move $5 on one exchange. We have more than 4-5 major exchanges all over the world supported by bitcoin users of the regions.

So, unless all the whales all over the world coordinate their selling at the same time, we will not see another mtgox meltdown taking bitcoin price down with it.

Don't see a problem with another huge price drop, it'll correct itself
as soon as people start buying in hopes of getting rich quickly.

[BigMac]

Am I wrong or the bitcoin's value is mostly based by whales actions on the market?

Of course they can affect the price but it's hardly the only determining factor.

Whales have a huge impact on bitcoin price, because the bitcoin market cap is still rather small, compared to the stock and forex market.

Not as much as it used to be. It will cost them more than 500k to just move $5 on one exchange. We have more than 4-5 major exchanges all over the world supported by bitcoin users of the regions.

So, unless all the whales all over the world coordinate their selling at the same time, we will not see another mtgox meltdown taking bitcoin price down with it.

Don't see a problem with another huge price drop, it'll correct itself
as soon as people start buying in hopes of getting rich quickly.

But the kind of price instability may make businesses more hesitate to take bitcoin payments, which isn't a good thing for bitcoin development.

[apsvinet]

Am I wrong or the bitcoin's value is mostly based by whales actions on the market?

Of course they can affect the price but it's hardly the only determining factor.

Whales have a huge impact on bitcoin price, because the bitcoin market cap is still rather small, compared to the stock and forex market.

Not as much as it used to be. It will cost them more than 500k to just move $5 on one exchange. We have more than 4-5 major exchanges all over the world supported by bitcoin users of the regions.

So, unless all the whales all over the world coordinate their selling at the same time, we will not see another mtgox meltdown taking bitcoin price down with it.

Don't see a problem with another huge price drop, it'll correct itself
as soon as people start buying in hopes of getting rich quickly.

But the kind of price instability may make businesses more hesitate to take bitcoin payments, which isn't a good thing for bitcoin development.

Volatility is part of the system.
Anyone investing into bitcoins should at least be enough educated in the subject to know that.

[BigMac]

Am I wrong or the bitcoin's value is mostly based by whales actions on the market?

Of course they can affect the price but it's hardly the only determining factor.

Whales have a huge impact on bitcoin price, because the bitcoin market cap is still rather small, compared to the stock and forex market.

Not as much as it used to be. It will cost them more than 500k to just move $5 on one exchange. We have more than 4-5 major exchanges all over the world supported by bitcoin users of the regions.

So, unless all the whales all over the world coordinate their selling at the same time, we will not see another mtgox meltdown taking bitcoin price down with it.

Don't see a problem with another huge price drop, it'll correct itself
as soon as people start buying in hopes of getting rich quickly.

But the kind of price instability may make businesses more hesitate to take bitcoin payments, which isn't a good thing for bitcoin development.

Volatility is part of the system.
Anyone investing into bitcoins should at least be enough educated in the subject to know that.

Very true for investors.

But if I open a business and plan to accept bitcoin payment directly (not using bitpay or coinbase to sell the bitcoin immediately), I won't enjoy seeing the price volatility.

[giveBTCpls]

I see a nice support now at around that area. We shall wait and see to see if we are walking on legit waters or not. I would HODL for sure.

[FarSky7]

I'm superstitious about October, thats when we had the big bump last year.

Securities in general get a bump in Oct before x-mas.

[Lamigo]

Securities in general get a bump in Oct before x-mas.

Isn't it the opposite?

http://www.investopedia.com/terms/o/octobereffect.asp
Definition of 'October Effect'
The theory that stocks tend to decline during the month of October.

http://en.wikipedia.org/wiki/Mark_Twain_effect
In some stock markets, the Mark Twain effect is the phenomenon of stock returns in October being lower than in other months.

[BitCoinDream]

Waiting for the next peak ? 2000 USD this time ?

Seems it is a good time to launch the new P2P exchange on www.100bit.co.in

The graph here has data till March 29, 2014. Can someone please provide an updated graph in the same scale ?

[Chemistry1988]

Waiting for the next peak ? 2000 USD this time ?

Seems it is a good time to launch the new P2P exchange on www.100bit.co.in

The graph here has data till March 29, 2014. Can someone please provide an updated graph in the same scale ?

Ouch, that 2000 USD prediction failed and the pattern on the graph didn't hold true beyond April 2014.

[BitCoinDream]

Waiting for the next peak ? 2000 USD this time ?

Seems it is a good time to launch the new P2P exchange on www.100bit.co.in

The graph here has data till March 29, 2014. Can someone please provide an updated graph in the same scale ?

Ouch, that 2000 USD prediction failed and the pattern on the graph didn't hold true beyond April 2014.

Time to reach that 2000 USD is not yet over. Hold on buddy

[ihuntbtc]

Cant wait till we hit 2000 and fallling leaves the forum 

[boumalo]

Cant wait till we hit 2000 and fallling leaves the forum 

2000 will feel great, the start of a new era, it seems around the corner

[Youghoor]

Cant wait till we hit 2000 and fallling leaves the forum 

that will take some time in order to achieve $2000 trade of bitcoin should be in billion.

[BitCoinDream]

Cant wait till we hit 2000 and fallling leaves the forum 

that will take some time in order to achieve $2000 trade of bitcoin should be in billion.

At the current price, I'm just thinking of Tim Drapper, who bought per coin @ 900 USD when Bitcoin was at 600 !!!

[silvestar]

Cant wait till we hit 2000 and fallling leaves the forum 

that will take some time in order to achieve $2000 trade of bitcoin should be in billion.

At the current price, I'm just thinking of Tim Drapper, who bought per coin @ 900 USD when Bitcoin was at 600 !!!

$900? Is that the winning price in the SR coin auction? Where did you find that price? 

[falllling]

still have unrealistic hopes for bitcoin? drop it

bitcoin is going to nowhere but down, lower and lower cheaper and cheaper, buy more = lose more

[boumalo]

Cant wait till we hit 2000 and fallling leaves the forum 

that will take some time in order to achieve $2000 trade of bitcoin should be in billion.

" trade of bitcoin should be in billion." : ??

2000$ is only a 26.6Billions valuation for Bitcoin, a few hundreds billions is the short/medium term potential if things go right so a few tens of thousands in 2014 USD the potential is much more in a USD that is printed like there is no tomorrow

[faiza1990]

Cant wait till we hit 2000 and fallling leaves the forum 

that will take some time in order to achieve $2000 trade of bitcoin should be in billion.

I think this will take too much time or if we are lucky then just one big jump and all is done we have both options open right now for this