call an end to the rally

[eturnerx]

Yep, waaay before Bitcoin hits $1.00 USD I'll be buying them up. Notwithstanding the investment value to myself, there are humanitarian reasons for keeping value in BTC.

[bitcoinBull]

When the difficulty looked like it was going to dip back below 400,000 over the weekend, after peaking at 500,000, I started feeling bearish on the price.

Now it looks like the difficulty might be recovering, and could head towards 600,000.  That, plus all the media, has me leaning bullish again.

At 600,000, a drop to $6 would put us at the historic low of around 1:1.  I don't see that happening, with the explosion of media attention and trade volume.

On the other hand, if the price goes over $10 the pop to $18 is almost certain (an almost flat ask depth beyond $10).  Even at $18 the ratio would still only be 3:1, which was just reached during the first rally to $8.

By a ratio analysis, $18 in the next week or two is in the cards.

[IIOII]

I think the price surge is far from over in the mid-term, provided that BTC really gets established as some kind of currency (which implies that a large amount goods are available for sale in BTC).

In the best case the BTC market capitalization could reach a buying-power equivalent to the traditional currencies used today.

Of course, this is far from certain and at the moment a lot of speculation is going on with many new people (like me) entering BTC. So today's value of BTC is not solely based on fundamentals (e.g. electricity costs), but to a large amount on future expectations.

[altoid]

almost $18, I'm crying on the inside ;(

I still maintain that we'll see parity again, though, or something close to it.  This is a speculative market, and has gone through multi-month bear phases before. 

[IIOII]

I still maintain that we'll see parity again, though, or something close to it.  This is a speculative market, and has gone through multi-month bear phases before.  

I don't think this will happen soon without some serious adverse events (like government intervention or some other kind of attack on the system) - which doesn't mean that I find it unlikely to happen.

[altoid]

ok, turned into a blow-off top.  it's rare but happens...sell your bitcoins while you can, you won't see these prices again for many many months.

[Vladimir]

"call an end to the rally" turned out to be premature... again...

[Alex Beckenham]

you won't see these prices again for many many months.

because they're so cheap?

[altoid]

"call an end to the rally" turned out to be premature... again...

Third time's a charm

[TiagoTiago]

Will it go over 50 bucks before the end of the year without going down past 50?

[eturnerx]

"call an end to the rally" turned out to be premature... again...

Third time's a charm

Yeah it's like forecasting rain... keep on saying it long enough and even in the Sahara you'll eventually be correct. As the saying goes - even a broken clock is right twice a day.

[altoid]

I'll be smiling when I buy your bitcoins for a dollar, it's not too late to become a bear...

[Vladimir]

I'll be smiling when I buy your bitcoins for a dollar, it's not too late to become a bear...

sweet dreams

[Jaime Frontero]

"call an end to the rally" turned out to be premature... again...

Third time's a charm

you're killing me altoid, this thread is hard to read now    have you actually received any encouragement on these sells that I missed?

*6 months later* value hits $100 per btc. altoid will be on the forums shouting, "ANY DAY NOW!11" "CMON PEOPLE, SELL FFS!!!"   

unfortunately, altoid just doesn't understand that Bitcoin comes from a curiously strong mint.


...sorry.

[Bit_Happy]

I think you'll be buying back the coins at $15-18 

I think so too

Ive asked S3052 and others to explain *why* they think an entirely new form of currency that offers *many* advantages over any of the existing forms of value trading systems, and is *just starting* to pick up steam (as far as mainstream awareness goes) would possibly follow the old patterns of "normal" stocks of companies and commodities.

Did the adoption of the Internet and Broadband follow "Elliot Waves" ?
Did anyone talk about "Bear and Bull" markets with regard to BitTorrent's uptake ?
Were Mobile Phones considered a "Bubble that will burst ?"
Did the takeover of the Automobile follow "The Markets *Rules* ?"

Digital Cameras annihilated the 100+ year old film/development industry within a decade, CCD's and Portable mass storage combined to totally change the way we took and stored images almost overnight (in cultural time frames)

Bitcoin is also an entirely new technology combination that stands to revolutionize the worlds whole financial system and how people transact with each other, and some think it will follow the usual stock-market rules just because it uses seemingly familiar "exchanges" to help it along.

I personally think it will rise, and rise, and rise for at least 5 or 10 years, (possibly in bursts according to media coverage/awareness grows) as mass-adoption gradually happens..

Unless something catastrophic (and very unlikely) happens, such as the governments of the world conducting an all-out media-smear campaign against it war-on-drugs style (possible - even although it will likely fail, just like prohibition and WOD), switch off the internet (yeah right), or start jailing people for using it (yeah right again).

I try not be a cheerleader/fanboi, but Ive been in the Electronics and I.T. industry for 30 years and I havent *ever* seen anything with the potential that this project has to change the world for the better.

Nice post PseudoCode. 

[coined]

I'm not an expert but I wouldn't count on parity now, if you get the chance to get back in at close to the price you sold in a future correction just take it, lots of people thinking they missed the boat will be buying up bitcoins if they price comes down, especially if it goes under 10.

either way, you got 25k, better than a poke in the eye with a sharp stick.

I wish you luck getting back in altoid, I mean it.

[cryptoanarchist]

Here's my prediction:

Bitcoin will hit at least $40 by the end of June, and over $1000 by the end of the year.

..and that may prove to be really conservative.

[SgtSpike]

My prediction is that I wish I had $10k to put in to bitcoins right now.

And lol, I think I called the end to the rally at $2.00 early on in this thread.  Or maybe a different thread.  Regardless, makes me laugh thinking about it now.

[IIOII]

Here's my prediction:

Bitcoin will hit at least $40 by the end of June, and over $1000 by the end of the year.

..and that may prove to be really conservative.

full ack.

[altoid]

well, the market is closer to my parity prediction than the previous high.  Anybody wanna join my bear-camp?  Still not too late!  Btw I sold about 100 bitcoins at $31/btc, that felt good