Topic: Bitcoin points of massive price movement - page 3. (Read 3631 times)

Hmmm where did i read that before?
Ah yea i remember... at 700... 600... 500... 400... 300... 200...

With the advent of leverage the people who decide the price, the traders, can afford to be a lot more agnostic about the overall price.

That's of zero help to the people who actually require a certain value to the keep the whole show operating.

The 100-200 range is easily achievable again. The more time it spends mired around or below there the greater the numbers of people who actually count - organic buyers, overstretched miners, companies like Bitpay that depend on actual expenditure - will fall away.

All money depends on pooled faith and trust in it, even more so when it's 100% voluntary like Bitcoin. I don't think a fresh wave of people would enter at a considerably lower price when the ones who had supported it up to that point were gone.

It's definitely not 'too big to fail'. A cascading abandonment en masse would be very hard to come back from.

The concept will live on whatever happens. The actual money and effort thrown at it so far may well go up in smoke. The wider world ain't gonna blink either.

Point of no return - crash to 50-70$ dollar, "recovery" to 100-120$ after that slow death and prices around 10$ oder lower

i also think it will dip below $200 but definitely not under $100. that wouldn't be a fair price for bitcoin in its current state.

i think if the price continues to fall and we don't see any movement upwards, we will see a lot of people sell and leaving bitcoin behind. even if the downward trend is slow i think this would eventually happen.
this is because a lot of them bought in the last few months and hoped for a big profit and their investment has only returned negative profit for them.

and "the point of no return" i think is going to be something below $100 and that is when we will see a massive dumping.

everyone will see it as the second train from sub 100 already , no need to go as low as <10, they will start to buy in bulk, and buy really big, and for this reason the price will never touch that value, worst case may be 100-200 range or the continuous trend of this stagnation

No matter the price there are project that will use bitcoin without people having any clues they will be using it. i.e. https://www.goabra.com/ that wants to be the Uber of remittance using bitcoin under the hood without people even knowing it. Bitcoin will move forward no matter what speculators think of it.

Don't you think it would be safe to say that bitcoin would evetually be abandoned by majority if the price would touch let's say;10$ ?
Sure, many would buy some coins just in case ti ressurects, but it would make the dream of large scale adoption insanely unlikely..

Well we're getting awfully close to that point with the upcoming fork and all drama surrounding it.
I don't think the price movements of the past few days are any positive indicators, movements in the order books also show an increasing sell pressure and less and less buyers every time i hit F5.

People are just losing confidence in the system, and rightly so. In my opinion it's fair to say the experiment has failed. (Yea i know it still holds value... -.-)

Either way, I don't think there is a point of no return price at all.

lol ok, but will it touch the value from where it will no longer be probable for it to rise back up ?
I believe you missed the point i wanted to make/ask about. All the price zig-zag is not important in the big picture.

Upcoming price movement will look a bit like this...

BTC history how i remember it, doesnt have to be exactly as charts say..

~30 USD spike  
~50 USD spike
Public awareness happened.
~250 USD spike
~1250 USD spike

Now we're at ~220-230 USD.
My question is; to what price would bitcoin have to go for the public mojority to say; Bitcoin is dying, or bitcoin is thriving !

When you look at it, the strongest movement upward (regardless of the initial cause) happens when older players who previously dumped rebuy coins,
and the strongest down pressure is when there's no incentive to expect price rising anytime soon.
So there are two positions, lower, and upper price, that decide what will happen next, so where do you think they are ?

imho;
- the lower point, the point of no return would be 50-70 USD range, where the majority would probably turn their back on bitcoin as an investment and/or viable payment option for mass adoption.
- the upper point would have to be around atleast 1500-2000 USD for the people to be confident how that isnt just another pump

*If the price continues to move within 150-400 USD, it's quite possible that people will eventually loose interest and walk away, making the price nosedive to point of no return (~50-70USD), where only
  rare idealists still support and believe in bitcoin.

Your thoughts?

i.e.
Point of no return up - 50$
Point of no return down - 2000$