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 .

[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