It hit 500!

[gentlemand]

Yeah, what's the deal with the spike today? Is there some piece of news I am missing, or is it just coincidence?

If you watch the charts it was expected to happen sometime this week or next.  We had finally reached the end of capitulation and it was just a matter of days before we were going to break out.  We have breached the resistance line for the first time since November so we should begin a new bull run up to the next ATH.

It really becomes quite predictable after a while.  

Yeah, obviously this small rise in price means the ATH is at most a week away.

I didn't realise that. Awesome news.

[1714912673]

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[BitChick]

Yeah, what's the deal with the spike today? Is there some piece of news I am missing, or is it just coincidence?

If you watch the charts it was expected to happen sometime this week or next.  We had finally reached the end of capitulation and it was just a matter of days before we were going to break out.  We have breached the resistance line for the first time since November so we should begin a new bull run up to the next ATH.

It really becomes quite predictable after a while.  

Yeah, obviously this small rise in price means the ATH is at most a week away.

Hey, it is a start. 

In spite of your sarcasm, a week is probably a little too optimistic.  Looking back it takes several weeks from the start of a bull run to reach the ATH.  I am not sure the exact number of days.  I am sure it is out there somewhere.  But I think 4 more weeks perhaps and it might bounce around the ATH price for a while with some significant sell-offs.  It should be fun regardless.

[serenitys]

So let's say this is technically a false start, like a pump/dump (if I understand that correctly) and it shoots up to $599...and then the media sees the jump and starts reporting bitcoin's jump...

What happens next?


(Also, please explain the lines question...trying to learn here, don't know *where* to go to learn this so I ask )

[bananaControl]

So let's say this is technically a false start, like a pump/dump (if I understand that correctly) and it shoots up to $599...and then the media sees the jump and starts reporting bitcoin's jump...

And what should they report? "Bitcoin is now worth half of what it used to be!" ?

They will not report anything before the old all time high is broken.

[BitcoinBobbeh]

Yeah, what's the deal with the spike today? Is there some piece of news I am missing, or is it just coincidence?

If you watch the charts it was expected to happen sometime this week or next.  We had finally reached the end of capitulation and it was just a matter of days before we were going to break out.  We have breached the resistance line for the first time since November so we should begin a new bull run up to the next ATH.

It really becomes quite predictable after a while.  

Yeah, obviously this small rise in price means the ATH is at most a week away.

Hey, it is a start. 

In spite of your sarcasm, a week is probably a little too optimistic.  Looking back it takes several weeks from the start of a bull run to reach the ATH.  I am not sure the exact number of days.  I am sure it is out there somewhere.  But I think 4 more weeks perhaps and it might bounce around the ATH price for a while with some significant sell-offs.  It should be fun regardless.

Can I just have you, on record, stating that the price will not stall or go down again until it reaches $1,000 ?

[hellscabane]

I'm not sure if this necessarily ushers in a new bull run, but this level of volatility hadn't been seen for a while, especially after a fairly quiet period before hand.

I would like to think this is another strong run, but I can't convince myself of that conclusion. That's why I sold a few coins on Coinbase when it hit just over $500.

[alani123]

Seems familiar? The pump and dump just ended.

[jamesc760]

Shite, I sold some YESTERDAY!!!

[BitChick]

Yeah, what's the deal with the spike today? Is there some piece of news I am missing, or is it just coincidence?

If you watch the charts it was expected to happen sometime this week or next.  We had finally reached the end of capitulation and it was just a matter of days before we were going to break out.  We have breached the resistance line for the first time since November so we should begin a new bull run up to the next ATH.

It really becomes quite predictable after a while.  

Yeah, obviously this small rise in price means the ATH is at most a week away.

Hey, it is a start. 

In spite of your sarcasm, a week is probably a little too optimistic.  Looking back it takes several weeks from the start of a bull run to reach the ATH.  I am not sure the exact number of days.  I am sure it is out there somewhere.  But I think 4 more weeks perhaps and it might bounce around the ATH price for a while with some significant sell-offs.  It should be fun regardless.

Can I just have you, on record, stating that the price will not stall or go down again until it reaches $1,000 ?

Will the price fluctuate on it's rise up to $1000?  Of course, so I can't say it won't go down at all, and it might stall for a day or so at each interval but the boring days of $440 are behind us now.  Also, I will say that once we breach $550 we will most likely never see the 400s again.  

[byt411]

It was obviously going to go up, but I did not expect it to spike so suddenly without any positive news. Going down right now.

[BitChick]

It was obviously going to go up, but I did not expect it to spike so suddenly without any positive news. Going down right now.

When the price rises so quickly there is always corrections along the way.  It hit $500 then bounced down a bit but it will pass $500 by the end of the day I believe.  Then the same thing will probably happen at $550 and so on. 

[byt411]

It was obviously going to go up, but I did not expect it to spike so suddenly without any positive news. Going down right now.

When the price rises so quickly there is always corrections along the way.  It hit $500 then bounced down a bit but it will pass $500 by the end of the day I believe.  Then the same thing will probably happen at $550 and so on. 

I think so too. By the way, is there an IRC where we people can chat?
It should be able to reach at $500 by end of day, it only barely touched it. It's going up again.

[BitcoinBobbeh]

Yeah, what's the deal with the spike today? Is there some piece of news I am missing, or is it just coincidence?

If you watch the charts it was expected to happen sometime this week or next.  We had finally reached the end of capitulation and it was just a matter of days before we were going to break out.  We have breached the resistance line for the first time since November so we should begin a new bull run up to the next ATH.

It really becomes quite predictable after a while.  

Yeah, obviously this small rise in price means the ATH is at most a week away.

Hey, it is a start. 

In spite of your sarcasm, a week is probably a little too optimistic.  Looking back it takes several weeks from the start of a bull run to reach the ATH.  I am not sure the exact number of days.  I am sure it is out there somewhere.  But I think 4 more weeks perhaps and it might bounce around the ATH price for a while with some significant sell-offs.  It should be fun regardless.

Can I just have you, on record, stating that the price will not stall or go down again until it reaches $1,000 ?

Will the price fluctuate on it's rise up to $1000?  Of course, so I can't say it won't go down at all, and it might stall for a day or so at each interval but the boring days of $440 are behind us now.  Also, I will say that once we breach $550 we will most likely never see the 400s again.  

If the price doesn't reach $1,000 by the end of July, will you eat your hat?

[bitcoinsrus]

Yeah, what's the deal with the spike today? Is there some piece of news I am missing, or is it just coincidence?

If you watch the charts it was expected to happen sometime this week or next.  We had finally reached the end of capitulation and it was just a matter of days before we were going to break out.  We have breached the resistance line for the first time since November so we should begin a new bull run up to the next ATH.

It really becomes quite predictable after a while.  

Yeah, obviously this small rise in price means the ATH is at most a week away.

Hey, it is a start. 

In spite of your sarcasm, a week is probably a little too optimistic.  Looking back it takes several weeks from the start of a bull run to reach the ATH.  I am not sure the exact number of days.  I am sure it is out there somewhere.  But I think 4 more weeks perhaps and it might bounce around the ATH price for a while with some significant sell-offs.  It should be fun regardless.

Can I just have you, on record, stating that the price will not stall or go down again until it reaches $1,000 ?

Will the price fluctuate on it's rise up to $1000?  Of course, so I can't say it won't go down at all, and it might stall for a day or so at each interval but the boring days of $440 are behind us now.  Also, I will say that once we breach $550 we will most likely never see the 400s again.  

If the price doesn't reach $1,000 by the end of July, will you eat your hat?

[btc-owl]

By the end of this year it should hit the $1200 mark again, catapulted by the consolidation of interesting start-ups and the cash injection of their VCs  

[BitChick]

By the end of this year it should hit the $1200 mark again, catapulted by the consolidation of interesting start-ups and the cash injection of their VCs  

$1200 by the end of the year is a very conservative estimate. 

[wachtwoord]

Yeah, what's the deal with the spike today? Is there some piece of news I am missing, or is it just coincidence?

If you watch the charts it was expected to happen sometime this week or next.  We had finally reached the end of capitulation and it was just a matter of days before we were going to break out.  We have breached the resistance line for the first time since November so we should begin a new bull run up to the next ATH.

It really becomes quite predictable after a while. 

Yeah, obviously this small rise in price means the ATH is at most a week away.

A entire week? Why are you so bearish?

Yup Jesus, do you expect me to wait a whole weak? Do you think I'm made of patience?

[BitchicksHusband]

I warned you guys weeks ago. This isn't news driven; we reached the end of the consolidation period. This push up was obvious to anyone with TA skills.

No doubt we're consolidating, each correction is getting tighter and tighter. The revised forecast is now May 19 for trend reversal confirmation. Then.. moon!

Edit: One more period of consolidation, but I'll eat my god damned hat if we break $380 from this point.

And it DID start on May 19 (at least in the US).  Nice call!

[BitchicksHusband]

I warned you guys weeks ago. This isn't news driven; we reached the end of the consolidation period. This push up was obvious to anyone with TA skills.

That's what they all say.

And yet, he predicted the exact day 12 days ago.

[BitchicksHusband]

Resistance lines - is that what the whitishblue and tan lines are? And if so, are they referencing: white = resistance to going up and tan = resistance to going down?

Have you guys started buying or are you just riding up on the panic buys?

No.  We bought at $425, $400, $375 and $350 on the way to the absolute bottom.  This is what you learn after a while.  When Risto starts saying "ROCK BOTTOM", it means if you are smart you start buying right then.