Did we finally reach the bottom?

[g-unit]

Do you guys think that we finally reached the bottom the other day at ~ 255 USD ? I'm also wondering what caused the recent "crash" from 315 to 255. I've read articles with different thoughts but wondered what you guys thought. I also read somewhere that market analysts predict a big rise sometime around February.

Thanks for your insight .

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[WillyBTC]

Do you guys think that we finally reached the bottom the other day at ~ 255 USD ? I'm also wondering what caused the recent "crash" from 315 to 255. I've read articles with different thoughts but wondered what you guys thought. I also read somewhere that market analysts predict a big rise sometime around February.

Thanks for your insight .

This probably belongs in "Speculation" and not "Economics." I tend to think we did not reach the "final bottom" ... I think breaking $275 suggests that we will continue to down trend further. Maybe $200 psychological zone. Maybe further than that, though, too.

[sandykho47]

Yes, we finally reach the bottom
But, after this bitcoin price slowly recover

Expect, BitStamp have to close their company

[Q7]

I would wait for the signal before confirming that it has reach the bottom support level. Usually a double bottom pattern forming on the price chart will tell you this but despite everything, it is still not 100% accurate.

[Jammalan the Prophet]

Of course , we have reached the bottom. The problem is that there are so many bottoms nobody knows which is the bottom of bottoms.

[Amph]

i think not, the bottom is around 200 dollars, a little below that

[Askenaz]

No way bro, there are only 3 possiblities right now. I bet for the yellow one.

[conteaza]

i think not, the bottom is around 200 dollars, a little below that

I guess you're wrong ,the buttom was reached already and we are moving up

[Hope78]

Just don't be sad. Think about all started at less than 10 bucks/btc.

[Amph]

i think not, the bottom is around 200 dollars, a little below that

I guess you're wrong ,the buttom was reached already and we are moving up

yeah , they said the same thing when the price rised to 370, but then what happened? 270 dollars....

[spacecakes]

I seriously think we are headed down to 200 or lower, there's no reason for bitcoin to be this expensive. Bitcoin is used for transferring value from person to person without anyone in the middle taking an outrageous fee. The ONLY reason bitcoin should be higher priced is if there isn't enough value in bitcoins to hold the amount of wealth the community as a whole would like to transfer and frankly... no one uses it for that atm. It has plenty of room to move down and still be extremely functional for what it was intended to do.

As Warren Buffet says, it's silly to think Bitcoin has some giant intrinsic value, especially in it's infancy... the value is the blockchain, it functions exactly the same no matter how high the price is, and until people start using it for its intended purposes and not just a speculative investment, we will always be in "bubble territory".

Granted, there will always be investors in every single asset. But right now, its an overwhelming unbalance of speculation, with barely anyone actually using it for it's intended purpose other than the few.

I'm starting to feel like too many people's futures are dependent on the next bitcoin bubble and that this is going to be a self-fulfilling prophecy. The only thing a giant group of people with greed in their eyes are going to cause is a bubble.

If you truly care about bitcoin and feel it's the future, start using it for it's intended purpose or we will never get passed where we are now. Don't buy it.... say "I'm pro bitcoin, it's the future!", sell it when it rises at a profit and continue using the same fiat system you speak so negatively about..

It just goes to show that when it comes to profit, bitcoin doesn't mean all that much, and lets face it: Most of you only know of bitcoin due to the bubbles, you're here for a profit.

[1Referee]

Everyone think to know where the bottom is, but at the end it surprises many of us time on time again. 

Let's see what happens with the price when Bitstamp resumes trading, that's what people are waiting for now.

[spacecakes]

My prediction for the year. Up some, down some, up some, down more, up some, down a lil, up some, down more, until 2016 halving. then panic due to mining only making 50% and the epic bubble never came... D: D: D:

PS - there's still a chance for self-fulfilling prophecy though!

TL;DR - Volatility and lower lows.

[findftp]

No. Just plain and simple.
Don't want to explain, but I'm sure I'm right.

[spacecakes]

No. Just plain and simple.
Don't want to explain, but I'm sure I'm right.

Aren't we all?

I know you like learning the hard way, but sometimes its best to look at the big picture and not with your crazy eyes (you know, the ones that have dollar signs in the middle).

[findftp]

No. Just plain and simple.
Don't want to explain, but I'm sure I'm right.

Aren't we all?

I know you like learning the hard way, but sometimes its best to look at the big picture and not with your crazy eyes (you know, the ones that have dollar signs in the middle).

It depends what you call the bottom.
I think it can go lower than this.
Too bad I'm a greedy motherfucker, I want the cheaper versions of the same coin so I get more of them in the end.

[CryptoTrout]

no that wasnt bottom, it would have bounced way harder

im feeling short term uptrend to 305-315 range then down to 230-240 in a few weeks to a month

[Ingatqhvq]

I am not sure, I think the fall trend is not finished.

[findftp]

no that wasnt bottom, it would have bounced way harder

im feeling short term uptrend to 305-315 range then down to 230-240 in a few weeks to a month

Up to most 305 but I doubt it will go much higher than current price.
In about 5 days we know how low it will get. I would say at least 240

[clementinal]

I think we havent reached the bottom yet, but the upside is that the price should go up around february

[Sakarias-Corporation]

No. the bottom is the bottom Which would in this case be 0. Now i don't think we will ever get to 0.
 

[Possum577]

I seriously think we are headed down to 200 or lower, there's no reason for bitcoin to be this expensive. Bitcoin is used for transferring value from person to person without anyone in the middle taking an outrageous fee. The ONLY reason bitcoin should be higher priced is if there isn't enough value in bitcoins to hold the amount of wealth the community as a whole would like to transfer and frankly... no one uses it for that atm. It has plenty of room to move down and still be extremely functional for what it was intended to do.

As Warren Buffet says, it's silly to think Bitcoin has some giant intrinsic value, especially in it's infancy... the value is the blockchain, it functions exactly the same no matter how high the price is, and until people start using it for its intended purposes and not just a speculative investment, we will always be in "bubble territory".

Granted, there will always be investors in every single asset. But right now, its an overwhelming unbalance of speculation, with barely anyone actually using it for it's intended purpose other than the few.

I'm starting to feel like too many people's futures are dependent on the next bitcoin bubble and that this is going to be a self-fulfilling prophecy. The only thing a giant group of people with greed in their eyes are going to cause is a bubble.

If you truly care about bitcoin and feel it's the future, start using it for it's intended purpose or we will never get passed where we are now. Don't buy it.... say "I'm pro bitcoin, it's the future!", sell it when it rises at a profit and continue using the same fiat system you speak so negatively about..

It just goes to show that when it comes to profit, bitcoin doesn't mean all that much, and lets face it: Most of you only know of bitcoin due to the bubbles, you're here for a profit.

This is the smart talk.

[arbitrage001]

Do you guys think that we finally reached the bottom the other day at ~ 255 USD ? I'm also wondering what caused the recent "crash" from 315 to 255. I've read articles with different thoughts but wondered what you guys thought. I also read somewhere that market analysts predict a big rise sometime around February.

Thanks for your insight .

Very close to bottom. If price continue to go down, the whole system will implode and say goodbye to bitcoin.

[ed_teech]

Bitcoin needs a big corporate player to change the game.

[neurotypical]

No. the bottom is the bottom Which would in this case be 0. Now i don't think we will ever get to 0.
 

The prize is hidden at the bottom. :p

[biodieselchris]

me thinks BTC may go to $90, LTC under $1. It would certainly need to be this low before I bought any more.

[LorettaAndrews]

I think it wasn't bottom
the bottom is around $1-$100 dollars

[WillyBTC]

I think it wasn't bottom
the bottom is around $1-$100 dollars

Pretty big range. Almost too big to disagree with. I don't like to think that long term. I am eyeing the $200 zone (Bitfinex) for a mid term bottom, personally.

[dinofelis]

I seriously think we are headed down to 200 or lower, there's no reason for bitcoin to be this expensive. Bitcoin is used for transferring value from person to person without anyone in the middle taking an outrageous fee. The ONLY reason bitcoin should be higher priced is if there isn't enough value in bitcoins to hold the amount of wealth the community as a whole would like to transfer and frankly... no one uses it for that atm. It has plenty of room to move down and still be extremely functional for what it was intended to do.

As Warren Buffet says, it's silly to think Bitcoin has some giant intrinsic value, especially in it's infancy... the value is the blockchain, it functions exactly the same no matter how high the price is, and until people start using it for its intended purposes and not just a speculative investment, we will always be in "bubble territory".

Granted, there will always be investors in every single asset. But right now, its an overwhelming unbalance of speculation, with barely anyone actually using it for it's intended purpose other than the few.

I'm starting to feel like too many people's futures are dependent on the next bitcoin bubble and that this is going to be a self-fulfilling prophecy. The only thing a giant group of people with greed in their eyes are going to cause is a bubble.

If you truly care about bitcoin and feel it's the future, start using it for it's intended purpose or we will never get passed where we are now. Don't buy it.... say "I'm pro bitcoin, it's the future!", sell it when it rises at a profit and continue using the same fiat system you speak so negatively about..

It just goes to show that when it comes to profit, bitcoin doesn't mean all that much, and lets face it: Most of you only know of bitcoin due to the bubbles, you're here for a profit.

I fully agree with that.  Bitcoin's fundamental is merchant adoption.
The demand for bitcoin as a means of payment is the real fundamental of the price.  In other words, the market share it can take in the fiat market as a currency.  For the moment, that is still very very low, but it is growing.

The funny thing is that it gets frowned upon by "bitcoin bulls" because it "lowers the price with all that dumping", while it brings bitcoin exactly towards (one of) its fundamentals.

Of course, on top of that, there are two other contributions:

1) long-term store of value (which is not credible right now with such a short-lived and volatile asset) such as gold.

2) speculation on the future fundamentals (which Warren calls "bubble territory").  It is the dominant price determinant for the moment, and is totally unpredictable because it depends on the whims and beliefs of people.

[conteaza]

I seriously think we are headed down to 200 or lower, there's no reason for bitcoin to be this expensive. Bitcoin is used for transferring value from person to person without anyone in the middle taking an outrageous fee. The ONLY reason bitcoin should be higher priced is if there isn't enough value in bitcoins to hold the amount of wealth the community as a whole would like to transfer and frankly... no one uses it for that atm. It has plenty of room to move down and still be extremely functional for what it was intended to do.

As Warren Buffet says, it's silly to think Bitcoin has some giant intrinsic value, especially in it's infancy... the value is the blockchain, it functions exactly the same no matter how high the price is, and until people start using it for its intended purposes and not just a speculative investment, we will always be in "bubble territory".

Granted, there will always be investors in every single asset. But right now, its an overwhelming unbalance of speculation, with barely anyone actually using it for it's intended purpose other than the few.

I'm starting to feel like too many people's futures are dependent on the next bitcoin bubble and that this is going to be a self-fulfilling prophecy. The only thing a giant group of people with greed in their eyes are going to cause is a bubble.

If you truly care about bitcoin and feel it's the future, start using it for it's intended purpose or we will never get passed where we are now. Don't buy it.... say "I'm pro bitcoin, it's the future!", sell it when it rises at a profit and continue using the same fiat system you speak so negatively about..

It just goes to show that when it comes to profit, bitcoin doesn't mean all that much, and lets face it: Most of you only know of bitcoin due to the bubbles, you're here for a profit.

Now tell me please who would mine nowadays for nothing,I mean if price is not so important for you how miners could cover his losses and reach ROI huh?

[Amph]

I think it wasn't bottom
the bottom is around $1-$100 dollars

that's a stupid bottom, not gonna happen, below 200 is a tough one already

[spazzdla]

I think it wasn't bottom
the bottom is around $1-$100 dollars

that's a stupi bottom, not gonna happen, below 200 is a tough one already

I'd bet we will go to the $100 range.

[Snorek]

I think it wasn't bottom
the bottom is around $1-$100 dollars

that's a stupi bottom, not gonna happen, below 200 is a tough one already

I'd bet we will go to the $100 range.

If we will go near $100 price range it will cause mass panic and the price would go down right to the bottom. It probably would be the end of bitcoin as people will be selling everything like crazy.

[conteaza]

I think it wasn't bottom
the bottom is around $1-$100 dollars

that's a stupi bottom, not gonna happen, below 200 is a tough one already

I'd bet we will go to the $100 range.

If we will go near $100 price range it will cause mass panic and the price would go down right to the bottom. It probably would be the end of bitcoin as people will be selling everything like crazy.

This is not gonna happen,you can sleep in peace.

[skinnyboy]

I seriously think we are headed down to 200 or lower, there's no reason for bitcoin to be this expensive. Bitcoin is used for transferring value from person to person without anyone in the middle taking an outrageous fee. The ONLY reason bitcoin should be higher priced is if there isn't enough value in bitcoins to hold the amount of wealth the community as a whole would like to transfer and frankly... no one uses it for that atm. It has plenty of room to move down and still be extremely functional for what it was intended to do.

As Warren Buffet says, it's silly to think Bitcoin has some giant intrinsic value, especially in it's infancy... the value is the blockchain, it functions exactly the same no matter how high the price is, and until people start using it for its intended purposes and not just a speculative investment, we will always be in "bubble territory".

Granted, there will always be investors in every single asset. But right now, its an overwhelming unbalance of speculation, with barely anyone actually using it for it's intended purpose other than the few.

I'm starting to feel like too many people's futures are dependent on the next bitcoin bubble and that this is going to be a self-fulfilling prophecy. The only thing a giant group of people with greed in their eyes are going to cause is a bubble.

If you truly care about bitcoin and feel it's the future, start using it for it's intended purpose or we will never get passed where we are now. Don't buy it.... say "I'm pro bitcoin, it's the future!", sell it when it rises at a profit and continue using the same fiat system you speak so negatively about..

It just goes to show that when it comes to profit, bitcoin doesn't mean all that much, and lets face it: Most of you only know of bitcoin due to the bubbles, you're here for a profit.

Now tell me please who would mine nowadays for nothing,I mean if price is not so important for you how miners could cover his losses and reach ROI huh?

And herein lies a big chunk of the problem facing bitcoin.  So many people in it for profit, not for what it was invented for.  I will continue to mine even at a financial cost because I want the network to succeed, I want the potential for bitcoin to be realised.

If I want to earn bitcoin then I'll go out and provide something of value to someone in return for it.

You see, Sapcecakes is right.  If you are only looking to sell it out at a profit and carry on with fiat you are part of the problem, not the solution.  To me it doesn't matter if bitcoin drops to less than a dollar, it's still a fundamentally useful technology and that is what I'm hoping to see people build on.  In fact, I'm not just predicting the price will continue to fall, I'm actively hoping it will, because then the short sighted people will be removed from the industry and the people who actually see its true value will be left to develop its future without being surrounded by folk who have nothing but dollar signs in their eyes.

Here's to hoping for a <$1 bitcoin :-D

[Amph]

I think it wasn't bottom
the bottom is around $1-$100 dollars

that's a stupi bottom, not gonna happen, below 200 is a tough one already

I'd bet we will go to the $100 range.

If we will go near $100 price range it will cause mass panic and the price would go down right to the bottom. It probably would be the end of bitcoin as people will be selling everything like crazy.

what? the contrary will happen actually, a panic buy will start, and for this reason we will never go even below 200

[bitcoindance]

I think it wasn't bottom
the bottom is around $1-$100 dollars

that's a stupi bottom, not gonna happen, below 200 is a tough one already

I'd bet we will go to the $100 range.

If we will go near $100 price range it will cause mass panic and the price would go down right to the bottom. It probably would be the end of bitcoin as people will be selling everything like crazy.

what? the contrary will happen actually, a panic buy will start, and for this reason we will never go even below 200

Exactly. Also I don't think that people will sell at a very big loss, most will simply wait for the price to go up.

[LitcoinCollector]

The price will go up, Bitcoin is the future!

[BTCreward]

I think it wasn't bottom
the bottom is around $1-$100 dollars

that's a stupi bottom, not gonna happen, below 200 is a tough one already

I'd bet we will go to the $100 range.

If we will go near $100 price range it will cause mass panic and the price would go down right to the bottom. It probably would be the end of bitcoin as people will be selling everything like crazy.

Every time any kind of physiological barrier is breached people will start to panic. The same was true when the price breached $500, the same was true when the price breached $300.

Assuming the price goes below $250 the same will be true, the same with probably $200

[chaoman]

this is your last chance for cheap coins and you bears are squandering it.

[magicmexican]

no that wasnt bottom, it would have bounced way harder

im feeling short term uptrend to 305-315 range then down to 230-240 in a few weeks to a month

I would agree with this maybe 5 months ago or so, but today i am not sure the bottom will be "marked" with the big bounce.

[Searing]

this is your last chance for cheap coins and you bears are squandering it.

The problem as I see it is not "Bears" per say...it is people in my situation.....or close to it....

I have every BTC and LTC I've ever mined....and am still ahead of the game ...as example BTC will have to go below

like $128 a BTC for me to start on the downward path of money lost (at least on paper...not counting elec as a ballpark figure)

So..I be a mining away.....BTC (Jupiter which will prob shut down next diff change) and Titan (no refund no roi mistake) but be a mining
LTC as of now on the hope and a prayer it will go up when BTC hopefully someday recovers

to LTC and holding out of desperation LTC will come back (no need to yell at me about LTC we will see .....odds are long)

So...back to the point

In my situation and others lots of us are either getting our BTC or LTC or LTC to BTC or whatever by mining out our equipment till
they reach the vaulted 'doorstop status" ...at this point a lot of folk are 'just' gonna sit on their hoard and watch (at best) this is
assuming they don't panic sell (best case)

But I really don't know anyone that at this point in time without a bottom on either BTC or LTC prices that is 'buying' coin...thus with this
and addition to the folk with large farms like KNC and/or merchants like overstock or newegg that xfer their BTC to $$$ directly probably each day at least
which adds to a constant down pressure in price.....well...most of us just sit here and hold...looking for the bottom in price and have
no real urge to buy coin...if the bulls are correct ..we will kick ourselves ..if the bears are correct we will kick ourselves for not selling

MOST of us in the cryptoworld imho are "holding" or we would not have the prices we have now...would be lower...but as to BUYING
BTC most of us who have been in this for a year or more imho are just holding or winding up mining and watching/waiting to get back in

imho that is the vast majority of folks into crypto now as an investment long term anyway

Bulls are still being Bulls ....Bears are still being Bears....but imho most of us are in the above boat...we are in this crypto up to a
point where we are 'holding' but as to adding to the expansion of any cryptocurrency via purchases ..thus the volume being where
it is at

BUYING COIN....er not so much gonna happen unless something breaks this group loose in a positive manner to crypto of any coin type

As to myself...er nope.....shot my wad....when mining equip is obsolete .....will hold....but if a lot of folk are doing what I'm doing gonna be
a sudden stop in BTC or LTC coming into the market this spring from folk like us and just a lot of holding...it wil be even more mine to USD
direct no matter what coin mined by the large farms and/or use by merchants like overstock and such again via bitpay to usd directly

with that in mind....I would not be surprised to see $150 usd BTC or $1 LTC

so that is the crowd BTC or crypto's have to wow into buying coin again ...it is like I've said before if the 'home miners' imho the 'cheerleaders'
in communities they are at .......no longer can mine due to cost and difficulty....where is the push to move BTC or whatever coin going to come
from towards its useage? Even if crypto's survive gonna be a big slump in the crypto movement for acceptance when/if that comes to pass
and as a result i see a further dump in price

hope I'm wrong and useage/acceptance or the facebook twins turn it around with their ETF but as of now ..imho it boils down to how
many keep the faith and hold thru all this...buying...again.....I'm maxed out for risk...and again am saying the majority of those into crypto
at this point of time (that are not trading for coin at least) are in my boat..ie 'fence sitting' and probably gonna stay that way long after
our miners are doorstops at best

my 2c worth (again what do I know I got a knc Titan no roi no refund unit)

[panju1]

this is your last chance for cheap coins and you bears are squandering it.

Most people are quietly accumulating bitcoins, while claiming that the price is going below $200 shortly.

[thirdprize]

Just don't be sad. Think about all started at less than 10 bucks/btc.

And that is back where it is heading. 

[eboard10]

Do you guys think that we finally reached the bottom the other day at ~ 255 USD ? I'm also wondering what caused the recent "crash" from 315 to 255. I've read articles with different thoughts but wondered what you guys thought. I also read somewhere that market analysts predict a big rise sometime around February.

Thanks for your insight .

From my analysis, we still have one move down to go before we reach a bottom which should take us under the previous low but still above $200, though we might revisit $300 before going there. Let's wait and see.

[Sage]

Please do your part to push the market to the bottom (and get my open orders filled).  

Sell... sell... sell...

C'mon.  We all knew this Bitcoin thing couldn't last.  

It was a fantasy from the start.

Sell... sell... sell.... the sooner you sell, the sooner we hit bottom.  The sooner the coins are back into strong hands & the visionaries so necessary to push this movement forward.

[kwukduck]

Ehh no.
There won't be a bottom anymore until it died out around a few cents.
Call that a bottom if you will but it's not going anywhere from that point.

[ssmc2]

How much do trolls have to pay for hero member accounts these days?

[Sage]

I position trader doesn't call the bottom.  That's a fools game.

But they do have the balls to buy progressively until the bottom is indeed hit.

A strategy I would suggest in this current market condition.

No, we aren't at bottom.  We need more pessimism from the Sheeple.  The same sheeple I'll be selling to when we hit the euphoria phase.

Yes, direct I know.  But direct seems to be the way to get the message through.

As much you shout it from the rooftops the sheeple make the same mistake over & over, buying at the top, & then selling in times like these.

Now is not the time to be selling (but please do anyway, cause I want cheap coins).... now is the time to be buying.  But budget yourself to buy in progressively all he way through the dip.

It's the visionaries who are buying now.  Those are the people that will push the innovation that will make the next high multiples of the last.

Those are the people we need in the market.  So non-visionaries, do use all a public service, and sell... sell... sell... please... sell... market orders only when you do.

[mlferro]

Bitcoin needs a big corporate player to change the game.

I'm beginning to believe that bitcoin need this.