There has got to be a bottom soon?

[Amph]

well we already hit the bottom, remember the sub 200? that's the bottom, expecting double digit is stupid, not gonna happen, unless some major thing will destroy btc in some way

[thelibertycap]

well we already hit the bottom, remember the sub 200? that's the bottom, expecting double digit is stupid, not gonna happen, unless some major thing will destroy btc in some way

yes it is stupid but thinking it can't go lower than that and still 'recover not being destroyed at all and stronger than ever' is also stupid.

[calci]

sentiment is abysmal, the spec forum is overrun with bearish posts.

Perhaps one last washout when the bear market ends or... Smashes down into double digits? That will be some serious blood on the streets.

Doesn't loo like 200 will be our last stop down at the moment, but it seems perhaps this is a serious juncture in terms of cycle too.

Just writing some thoughts. keep level heads and powder dry!

Didn't we already hit bottom twice ? The first at 275$ level, and the second at 152$ level .
A new bottom would be questionable for now and unlikely to happen.

[inca]

Over 7000btc is dumped every day to cover mining costs. I dont think bids can take those hits.

Making up facts is fun isn't it?

[elephantas1]

Double digits won't happen, there are way to many people waiting to buy at such price level.

Market is very unsure, really good news gets very low support while the coinbase news gets Bitcoin from  ~$160 to over $300 in just a short time while it was nothing new and exciting.

I agree, the more it gets lower, the higher the resistance. The order book in exchangers will not reflect this but I'm sure, if it suddenly drops to $100, imagine the amount of funds serious buyers are willing to put in to grab the coins.

Over 7000btc is dumped every day to cover mining costs. I dont think bids can take those hits.

do you have any proof like an article or something? because if not you just wrote various numbers didnt you?

[Nagle]

No way,  Coinbase pump was done very well..that was all news

Good point. Coinbase's recent advertising:


To the moon!" This will be embarrassing to Coinbase in front of a judge and jury.

Here's how the SEC defines a "pump and dump":

“Pump-and-dump” schemes involve the touting of a company’s stock (typically small, so-called “microcap” companies) through false and misleading statements to the marketplace. These false claims could be made on social media such as Facebook and Twitter, as well as on bulletin boards and chat rooms. Pump-and-dump schemes often occur on the Internet where it is common to see messages posted that urge readers to buy a stock quickly or to sell before the price goes down, or a telemarketer will call using the same sort of pitch. Often the promoters will claim to have “inside” information about an impending development or to use an “infallible” combination of economic and stock market data to pick stocks. In reality, they may be company insiders or paid promoters who stand to gain by selling their shares after the stock price is “pumped” up by the buying frenzy they create. Once these fraudsters “dump” their shares and stop hyping the stock, the price typically falls, and investors lose their money.

Sound familiar?

Getting venture capital and opening a US-based Bitcoin exchange is fine. Coinbase seems determined to promote it wrong. The "to the moon" hype, the false claims of being licensed and regulated, and the free trading to get volume are all bad signs.

[tss]

Over 7000btc is dumped every day to cover mining costs. I dont think bids can take those hits.

Making up facts is fun isn't it?

yea.  i think either his math is a bit off, or just clueless.

[fat buddah]

well we already hit the bottom, remember the sub 200? that's the bottom, expecting double digit is stupid, not gonna happen, unless some major thing will destroy btc in some way

something like  a hardfork without consensus? Will you support Gavincoin? I for one will use litecoin and other coins instead of bitcoin later because i'm only a little man with a normal internet connection and only 500GB harddrive.

[gustav]

[AZwarel]

Double digits won't happen, there are way to many people waiting to buy at such price level.

Market is very unsure, really good news gets very low support while the coinbase news gets Bitcoin from  ~$160 to over $300 in just a short time while it was nothing new and exciting.

It's possible and we and the miners will be in big trouble if it happens, but I don't think it will go that low. I'm hoping for a series of good news that will send the price going the other way and I think we'll get some this year but the question is how long do with have to wait?

I can back this, at least 3 of my friends /colleagues whom i have talked about bitcoin were saying (=laymen, not at all familiar with the technicality, future prospects of the tech) that below 100 $ they want to buy a coin, just for the "who knows what" prospect.

And this is only my non "bitcoin trained" personal circle, who wants to get in based on mostly negative MSM reports. I can see millions of layman asking a bitcoin knowing friend to buy them some if/when/at below 100$, so double digits could not hold for a sec.

[fred930]

Double digits won't happen, there are way to many people waiting to buy at such price level.

Market is very unsure, really good news gets very low support while the coinbase news gets Bitcoin from  ~$160 to over $300 in just a short time while it was nothing new and exciting.

It's possible and we and the miners will be in big trouble if it happens, but I don't think it will go that low. I'm hoping for a series of good news that will send the price going the other way and I think we'll get some this year but the question is how long do with have to wait?

I can back this, at least 3 of my friends /colleagues whom i have talked about bitcoin were saying (=laymen, not at all familiar with the technicality, future prospects of the tech) that below 100 $ they want to buy a coin, just for the "who knows what" prospect.

And this is only my non "bitcoin trained" personal circle, who wants to get in based on mostly negative MSM reports. I can see millions of layman asking a bitcoin knowing friend to buy them some if/when/at below 100$, so double digits could not hold for a sec.

If it did go to double digits it would cause problems with miners shutting down.

[AZwarel]

No way,  Coinbase pump was done very well..that was all news

Good point. Coinbase's recent advertising:


Here's how the SEC defines a "pump and dump":

“Pump-and-dump” schemes involve the touting of a company’s stock (typically small, so-called “microcap” companies) through false and misleading statements to the marketplace. These false claims could be made on social media such as Facebook and Twitter, as well as on bulletin boards and chat rooms. Pump-and-dump schemes often occur on the Internet where it is common to see messages posted that urge readers to buy a stock quickly or to sell before the price goes down, or a telemarketer will call using the same sort of pitch. Often the promoters will claim to have “inside” information about an impending development or to use an “infallible” combination of economic and stock market data to pick stocks. In reality, they may be company insiders or paid promoters who stand to gain by selling their shares after the stock price is “pumped” up by the buying frenzy they create. Once these fraudsters “dump” their shares and stop hyping the stock, the price typically falls, and investors lose their money.

Sound familiar?

Getting venture capital and opening a US-based Bitcoin exchange is fine. Coinbase seems determined to promote it wrong. The "to the moon" hype, the false claims of being licensed and regulated, and the free trading to get volume are all bad signs.

Except the fact that BTC is not a "company stock" for Coinbase, they have not promised anything in a written contract (pictures of a rocket, space, and the Moon does not constitute as far as i know), social media has no special law requirements compared to a man screaming in the street (they are the same in the face of law), BTC is not even a stock, so stock market regulation can not apply. And a thousand other legal and logical problems with the above sentiment by SEC (which is alos an USA only institute and can not deal with a global phenomenon as it is).

[TheWiseandUnwise]

sentiment is abysmal, the spec forum is overrun with bearish posts.

Perhaps one last washout when the bear market ends or... Smashes down into double digits? That will be some serious blood on the streets.

Doesn't loo like 200 will be our last stop down at the moment, but it seems perhaps this is a serious juncture in terms of cycle too.

Just writing some thoughts. keep level heads and powder dry!

Simple fact of the matter is, there is no real bottom: The only bottom is when the movers decide otherwise.

It could be 100, 50, or 1 or 10 cents.

There is nothing real holding up the prices and market isn't moving anywhere but down, it's only a matter of time.

[flipstyle]

Lol@thinking that anything below the previous $150 bottom is illogical.  

There is no 'law' stating what btc's market should be.  It's simply supply vs demand + investor sentiment.  Hitting single digits isn't any more out of the question than being at double or triple digits....and at this point all 3 are equally possible.    It's anybody's guess.

[dreamspark]

Lol@thinking that anything below the previous $150 bottom is illogical.  

There is no 'law' stating what btc's market should be.  It's simply supply vs demand + investor sentiment.  Hitting single digits isn't any more out of the question than being at double or triple digits....and at this point all 3 are equally possible.    It's anybody's guess.

You think the likelihood of hitting single digits is the same as being at triple digits 

Chances of being at triple digits is 100% (we're there) so your basically stating that with 100% certainty we will hit single digits.

[flipstyle]

Lol@thinking that anything below the previous $150 bottom is illogical.  

There is no 'law' stating what btc's market should be.  It's simply supply vs demand + investor sentiment.  Hitting single digits isn't any more out of the question than being at double or triple digits....and at this point all 3 are equally possible.    It's anybody's guess.

You think the likelihood of hitting single digits is the same as being at triple digits 

Chances of being at triple digits is 100% (we're there) so your basically stating that with 100% certainty we will hit single digits.

I'm speaking in terms of the future, Einstein. The chances of being at single or double digits is just about as probable as it is being in the triple digits a year from now.

[dreamspark]

Lol@thinking that anything below the previous $150 bottom is illogical.  

There is no 'law' stating what btc's market should be.  It's simply supply vs demand + investor sentiment.  Hitting single digits isn't any more out of the question than being at double or triple digits....and at this point all 3 are equally possible.    It's anybody's guess.

You think the likelihood of hitting single digits is the same as being at triple digits 

Chances of being at triple digits is 100% (we're there) so your basically stating that with 100% certainty we will hit single digits.

I'm speaking in terms of the future, Einstein. The chances of being at single or double digits is just about as probable as it is being in the triple digits a year from now.

It really isn't but your free to think what you like.

[flipstyle]

Lol@thinking that anything below the previous $150 bottom is illogical.  

There is no 'law' stating what btc's market should be.  It's simply supply vs demand + investor sentiment.  Hitting single digits isn't any more out of the question than being at double or triple digits....and at this point all 3 are equally possible.    It's anybody's guess.

You think the likelihood of hitting single digits is the same as being at triple digits 

Chances of being at triple digits is 100% (we're there) so your basically stating that with 100% certainty we will hit single digits.

I'm speaking in terms of the future, Einstein. The chances of being at single or double digits is just about as probable as it is being in the triple digits a year from now.

It really isn't but your free to think what you like.

Oh, I get it.  Your crystal ball is cooler than all others.

Now tell me what next Sunday's winning Powerbucks lotto numbers are.

[worldinacoin]

No one can predict whether there is a bottom or not or whether it sinks to double or go up to four digits

[Searing]

the below chart is what keeps me up at night........then again...if bitcoin survives....'cheap coin' if not
well having all these btc and alts in my elder years is more tidy then 'collecting cats'






flip a coin time.......we are dealing with a bunch of silly hairless primates on all this ...and they do and always will like to throw 'poo'.