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Question: Do you think we're sitting on a rocket that will ignite soon (next month or so)?
Yes - 53 (55.2%)
No - 27 (28.1%)
Don't know. - 16 (16.7%)
Total Voters: 96

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Author Topic: Do you think Bitcoin will start a new rally?  (Read 3838 times)
fewcoins
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November 10, 2014, 01:10:55 PM
 #21

The new rally has started... 400 will be a deciding point and 420 will be possible
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Dafar
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November 10, 2014, 06:10:03 PM
 #22

The new rally has started... 400 will be a deciding point and 420 will be possible

I don't believe you, FEW coins




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Dr.yenzak
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November 10, 2014, 06:21:10 PM
 #23

i think yes
we will see price bumping same like last year
xmasdobo
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November 10, 2014, 06:41:33 PM
 #24

Imo possibly when Second Market announces a date for when their Bitcoin exchange will open or when/if the Winklevoss's ETF gets approved we could see at least a mini rally
ThatDGuy
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November 10, 2014, 07:58:19 PM
 #25

If someone is hoping that it will go sky high as last year in November , even though I'm not an expert but the chances of that happening is 0.0000001% but I'm glad we are moving up a lil 400$ by the end of the year is not too bad either.

The chances of sky high like last year or higher are far greater than 0.0000001%.  There are plenty of people who closed their positions while it's been going down who would also be more than happy to get back in if it was going back up.  Also, keep in mind there's more people that are exposed to BTC with each one, and a year's worth of improved infrastructure since last year.

As drawn out as the fallouts post-bubbles can be in BTC's history, the actual rise of the bubble happens in a markedly opposite manner: quick and violent.
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November 10, 2014, 08:13:27 PM
 #26

the actual rise of the bubble happens in a markedly opposite manner: quick and violent.

What's the reasoning behind this? Other than it's the history of bubbles. Why does it explode as opposed to steady increase?  All of a sudden demand increases 1000x and everyone buys at the same time, seems kind of remote? Is it just crazed excitement?

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November 10, 2014, 08:20:35 PM
 #27

the actual rise of the bubble happens in a markedly opposite manner: quick and violent.

What's the reasoning behind this? Other than it's the history of bubbles. Why does it explode as opposed to steady increase?  All of a sudden demand increases 1000x and everyone buys at the same time, seems kind of remote? Is it just crazed excitement?

Read madness and the delusion of crowds. You are right.
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November 10, 2014, 08:35:41 PM
 #28

the actual rise of the bubble happens in a markedly opposite manner: quick and violent.

What's the reasoning behind this? Other than it's the history of bubbles. Why does it explode as opposed to steady increase?  All of a sudden demand increases 1000x and everyone buys at the same time, seems kind of remote? Is it just crazed excitement?

History does tend to repeat itself if you look at almost any other commodity, there's no logical  reason to think btc will be any different

Expect a rollercoaster because its not going to be smooth sailing on calm seas all the way
ThatDGuy
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November 10, 2014, 08:39:34 PM
 #29

the actual rise of the bubble happens in a markedly opposite manner: quick and violent.

What's the reasoning behind this? Other than it's the history of bubbles. Why does it explode as opposed to steady increase?  All of a sudden demand increases 1000x and everyone buys at the same time, seems kind of remote? Is it just crazed excitement?

A few reasons.  

The history of bubbles is certainly one worth considering, and not to be discounted: lots of us first noticed BTC because of a bubble - it popped up in news, we read about it, either bought in then (high) or waited and watched, bought some on the way down, thinking that it could do it again.  Even though it's quite common (and true) to hear or say "past performance doesn't guarantee future performance," there is a definite psychological effect that says "well shit, BTC's spiked multiple times before, and it's going up again - I should put a little/jump in this time"

Another reason is what I mentioned in the post above.  The price has been depressed quite a bit over the last few months, as people that had held BTC were gradually selling it off to either cut their losses or take some kind of a profit.  I would venture a guess, though, that quite a few people made some hefty gains on the way up and the way down, and are now sitting largely on the sidelines while we are testing the lows, and have possibly gotten to the bottom.  If this isn't the bottom, then the market will keep trying to find it.  Once we do, however, these same people that have been sitting and waiting are also the same folks that were waiting for their buy-in point.  If a large amount of that same money comes back into BTC, there's only one direction it can go - and it will get there quickly because it's already been there before.  So the incremental jumps from 400-500, 500-600, 600-700 could very well be something that you can sit and watch in the course of a few hours or day on Bitcoin tickers.

It's definitely not so much of a case of demand increasing dramatically as it is a case of investors saying: "I have a chance of increasing my investment by hundreds or thousands of percents in a few days or weeks.  I want to invest/re-invest and don't want to get left behind"

Read madness and the delusion of crowds. You are right.

There's a ton of herd mentality in it as well, but that should be obvious.  To call buying at the beginning of Bitcoin's bubbles madness though, seems like shortsighted marginalization - there are some of us on this board who have made tremendous gains by paying attention to them and riding that geyser upwards.

Keep in mind, I'm not saying we are at the bottom now, or were, and are currently in the precursor phase of that event.  I'm only describing two major factors that I think have contributed to prior bubbles, and will contribute to the next one.
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November 10, 2014, 09:27:58 PM
 #30

If someone is hoping that it will go sky high as last year in November , even though I'm not an expert but the chances of that happening is 0.0000001% but I'm glad we are moving up a lil 400$ by the end of the year is not too bad either.

You realize that makes you an exceptional expert, if the numbers were indeed correct?

- You can figure out what will happen, not when /Warren Buffett
- Pay any Bitcoin address privately with a little help of Monero:
 on your mark, get set, go!
Bulletin
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November 11, 2014, 06:14:31 AM
 #31

It is rallying already.
fewcoins
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November 12, 2014, 03:57:34 AM
 #32

It is rallying already.

Looks to be running out of steam, I closed most of my position at 380 now
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November 12, 2014, 04:03:36 AM
 #33

It is rallying already.

Looks to be running out of steam, I closed most of my position at 380 now

Smart move!! I just opened me a fresh short at 381!
dropt
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November 12, 2014, 05:04:21 AM
 #34

Smart move!! I just opened me a fresh short at 381!

 Cry
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November 12, 2014, 05:05:12 AM
 #35

We're gonna see BTC above 1000 USD within 3-6 months. And this is a conservative estimate.
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November 12, 2014, 12:04:29 PM
 #36

We're gonna see BTC above 1000 USD within 3-6 months. And this is a conservative estimate.

When the etf gets launched it could spike over  10,000 and stay there

I wouldn't bet against  10k bitcoins but probably not until thy next halfing of the block Reward...
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November 12, 2014, 12:12:35 PM
 #37

It is rallying already.

Looks to be running out of steam, I closed most of my position at 380 now

Smart move!! I just opened me a fresh short at 381!

shorting right now is a bit bone headed. You cannot short Bitcoin on fundamentals. Bitcoin is like an Amazon a few years ago and Tesla now. People are buying regardless of fundamentals and that is the worst scenario to short. You are basically betting on some type of horrific news coming out like Gox 2.0. Everyone that owns Bitcoin and is holding knows we are in the infancy of crypto, most are willing to weather most all storms.

At this point for Bitcoin to drop even 20% would require something like a coinbase to pull a gox. We will have more scams and hacks I am sure but nobody even blinks at most bad news anymore. The pressure on Bitcoin price is only going to build as 2015 hits and the halving approaches all the while the prospect of a Cyprus 2.0 only grows.

Those who hold and those who are without property have ever formed distinct interests in society
Capt Drake
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November 12, 2014, 12:13:28 PM
 #38

I BILIEVE! THIS IS GENTLEMEN!!

http://www.reddit.com/r/BitcoinMarkets/comments/2lxkqk/daily_discussion_tuesday_november_11_2014/cm0085i

http://www.reddit.com/r/Bitcoin/comments/2m1brp/this_is_gentlemen/
fewcoins
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November 12, 2014, 03:19:14 PM
 #39

Too much greed on this page alone, makes me think this rally will have a sharp fall...
WaffleMaster
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November 12, 2014, 03:36:04 PM
 #40

Fewcoins, do you have anything better to do? It's up 8-9% today ALONE ALREADY hahaha. Here's a chart explaining why this is happening and where it's headed http://imgur.com/Hf3AcQ6,piL7U3L#1
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