When will Bitcoin take off again?

[Wilhelm]

Funny that LTC seems to be pushing upwards and BTC isn't yet

how many million dollars are holding up LTC?

$ 171,525,000 (coinmarketcap.com)

approx 2.72% of the marketcap of BTC.

[adamstgBit]

Funny that LTC seems to be pushing upwards and BTC isn't yet

how many million dollars are holding up LTC?

$ 171,525,000 (coinmarketcap.com)

approx 2.72% of the marketcap of BTC.

i'm going to let you believe that.

[minerpumpkin]

thanks for that reddit article  IMZ makes some valid points, he seems to be dead on which is scary a bit and ZBY ive watched many crypto currencies  halve and there is always a rise in price so you are def correct but that wont happen for another 90+ weeks i believe.

I personally don't think it'll take that long for price to continue to uptrend...then again I also didn't think it would take this long for bitcoin price to recover

I don't know if it will be due to the block-reward halving. It could be, but I rather expect it at some point before that, because it will inherently be priced in by people speculating on Bitcoin's price. They will try to accumulate beforehand, and the actual halving will be boring.

[InwardContour]

It's almost impossible to predict when it will rise again, the only thing we can do is howling.

[Barrie Cliff]

Funny that LTC seems to be pushing upwards and BTC isn't yet

how many million dollars are holding up LTC?

$ 171,525,000 (coinmarketcap.com)

approx 2.72% of the marketcap of BTC.

i'm going to let you believe that.

Adam, could you say more than that ? I would like to understand what you mean.

[Bonam]

Adam, could you say more than that ? I would like to understand what you mean.

Market cap is current price per coin times number of coins that exist. But if someone actually tried to sell a significant number of coins, the market price would quickly collapse. The money "holding up LTC" is not equal to its market cap. A better indicator of the money holding up LTC would be how much demand there is for LTC at or near its current pricepoint.

[nuff]

It will take off. Just hold. When it takes off you'll know about it

[hannscryo]

It will take off sooner than we expect, hold!

[minerpumpkin]

Adam, could you say more than that ? I would like to understand what you mean.

Market cap is current price per coin times number of coins that exist. But if someone actually tried to sell a significant number of coins, the market price would quickly collapse. The money "holding up LTC" is not equal to its market cap. A better indicator of the money holding up LTC would be how much demand there is for LTC at or near its current pricepoint.

Exactly, the market cap is something people tend to get wrong. There aren't 6 billion USD invested in Bitcoin at the moment. It's less. If someone decided to sell a lot of Bitcoin, the price will go down, yes. I often don't get how people can be so obsessed with the market cap. On the other hand: If you see how much money there is in M1, M2, etc. you can only imagine what will happen if only a percent of that went into Bitcoin...

[Wilhelm]

Adam, could you say more than that ? I would like to understand what you mean.

Market cap is current price per coin times number of coins that exist. But if someone actually tried to sell a significant number of coins, the market price would quickly collapse. The money "holding up LTC" is not equal to its market cap. A better indicator of the money holding up LTC would be how much demand there is for LTC at or near its current pricepoint.

Exactly, the market cap is something people tend to get wrong. There aren't 6 billion USD invested in Bitcoin at the moment. It's less. If someone decided to sell a lot of Bitcoin, the price will go down, yes. I often don't get how people can be so obsessed with the market cap. On the other hand: If you see how much money there is in M1, M2, etc. you can only imagine what will happen if only a percent of that went into Bitcoin...

I just answered the question to my best knowledge, I am not obsessed with marketcap.
I agree that if people sell a lot the price will go down and the marketcap will plummet too.
Reading your post it seems that there is no way to answer the question on how many USD is holding up LTC or BTC.

[gog1]

we still need a couple of more years.  when online casino is legalized, and takes bitcoin and give bigger bonuses to BTC depositor, it'll take off.

more porn site taking bitcoin will help.

[btcformat]

It will take some months but eventually in 2015 bitcoin will take off.

[KarmaShark]

End of this year or early into 2015, the rally begins.

[exocytosis]

Never. There's nothing to fuel growth now that Willybot is gone. It's downwards from here.

[azguard]

Adam, could you say more than that ? I would like to understand what you mean.

Market cap is current price per coin times number of coins that exist. But if someone actually tried to sell a significant number of coins, the market price would quickly collapse. The money "holding up LTC" is not equal to its market cap. A better indicator of the money holding up LTC would be how much demand there is for LTC at or near its current pricepoint.

Exactly, the market cap is something people tend to get wrong. There aren't 6 billion USD invested in Bitcoin at the moment. It's less. If someone decided to sell a lot of Bitcoin, the price will go down, yes. I often don't get how people can be so obsessed with the market cap. On the other hand: If you see how much money there is in M1, M2, etc. you can only imagine what will happen if only a percent of that went into Bitcoin...

I just answered the question to my best knowledge, I am not obsessed with marketcap.
I agree that if people sell a lot the price will go down and the marketcap will plummet too.
Reading your post it seems that there is no way to answer the question on how many USD is holding up LTC or BTC.

You cannot know exactly how many USD or EUR or any other currency is the market cap, you can only see partial details.
So thing is we cannot know how or when will next price jump/down will be.
Only we can is to ques when how and why?

[Buo]

Bitcoin will take off as soon as weak hands stop selling, will it ever happen?

[Wilhelm]

Bitcoin will take off as soon as weak hands stop selling, will it ever happen?

Bitcoin will take off after the first u3berbulls start being greedy so the sheeple can follow.

[azguard]

Bitcoin will take off as soon as weak hands stop selling, will it ever happen?

I will soon. We have to w8 not bee inpatient with this.
This will happen when we least expect for sure.

[Zarathustra]

After the next halving.

Yes, summer 2016; at the latest.

http://bitcoinclock.com/

[bitcoinbelieve]

Im sure alot can happen before this scenario happens but ive always felt for Bitcoin to take off like it did last year something big has to happen, what if another stock market crash happens and banks start failing again, people will be searching for a way to protect there money by pulling it outta banks and outta stocks to prevent big losses they sustained back in 2008, and put it into bitcoin, I could be way off but ive had this feeling for a long time though, does anything think im way off base or have some merit here?

The market is oversaturated with bitcoin thanks to the vendors (newegg, dish, overstock, etc...) where they immediately convert bitcoin into fiat. This creates more seller than buyer thus causing the demand for bitcoin to decline. It is good thing that bitcoin is being accepted by various of vendors but at the same time, it could be worse thing happened to bitcoin. It's catch 20/20.