Bitcoin to $50k before Xmas - page 4.

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: Hyena on July 08, 2015, 11:47:26 AM

Quote from: jonald_fyookball on July 08, 2015, 11:44:24 AM

The growth may be exponential but it is certainly not predictable
so that you could draw a trendline for it. People tried that last
year and were wrong about where the price is now.

But hey, you have your theory and I have mine. Lets revisit this in December and see where the price is.
My prediction: $350.

TBH, I don't believe in trend lines anyway. I just think that log charts suit better for bitcoin because they show more information while linear charts only show us the last rally.

Log charts don't show more information, they show the same information differently.

They show a bias toward exponential growth (obviously) or lack of it.
Personally, I don't think that's a good way to look at data. If there's
truly exponential growth, it will show on a standard price chart.

I do agree Bitcoin has massive potential for exponential growth.
I also think you (and the OP) are overoptimistic and unrealistic about how fast
that's going to happen. But, hey i'd love to be proven wrong.

One thing's for sure. It won't happen just because a chart
says so. Things have to happen in real life. The DEMAND
has to be there. That's the key. Demand is picking up
for Bitcoin, but slowly.

Hyena

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Activity: 2114

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Quote from: jonald_fyookball on July 08, 2015, 11:44:24 AM

The growth may be exponential but it is certainly not predictable
so that you could draw a trendline for it. People tried that last
year and were wrong about where the price is now.

But hey, you have your theory and I have mine. Lets revisit this in December and see where the price is.
My prediction: $350.

TBH, I don't believe in trend lines anyway. I just think that log charts suit better for bitcoin because they show more information while linear charts only show us the last rally.

bumm

sr. member

Activity: 378

Merit: 250

Quote from: bitpump on July 07, 2015, 12:04:16 AM

Bitcoin to $50k before Xmas

Original analysis at: https://www.whaleclub.co/post/0A2Jf

Original analysis at: https://www.whaleclub.co/post/0A2Jf

https://twitter.com/bitpump/status/618272964006518784

i dont think it would reach such heights. i expect it to settle at somewhere around 300-350$ at the end of the year. it can only reach such heights after it has been adoped by the whole world. i think we have to wait for 10 year to see that advancement. but i really wish bitcoin to touch $50k mark.

jonald_fyookball

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Activity: 1302

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Core dev leaves me neg feedback #abuse #political

Quote from: Hyena on July 08, 2015, 10:37:33 AM

Quote from: jonald_fyookball on July 08, 2015, 09:58:09 AM

You cant draw a trendline on a log chart and expect to be taken seriously. Im a permabull but please gtfo with your looney prediction

WTF again you with your log chart racism. Do you understand that log chart is the right thing to look at and instead the linear chart is where you cannot draw any lines because bitcoin doesn't grow linearly.

The growth may be exponential but it is certainly not predictable
so that you could draw a trendline for it. People tried that last
year and were wrong about where the price is now.

But hey, you have your theory and I have mine. Lets revisit this in December and see where the price is.
My prediction: $350.

Xialla

legendary

Activity: 1036

Merit: 1001

/dev/null

hello OP.

if your prediction will be right, please PM me on Xmas and I will send you those 50k USD or 1 BTC. until this happen, you can just enjoy my favorite shot of your favorite animal.

anyway, is cool to see some bullish posts here after flooding of "bitcoin is death, sell everything" threads:)

chaoman

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Merit: 100

hope you're right bud

Hyena

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Activity: 2114

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Quote from: jonald_fyookball on July 08, 2015, 09:58:09 AM

You cant draw a trendline on a log chart and expect to be taken seriously. Im a permabull but please gtfo with your looney prediction

WTF again you with your log chart racism. Do you understand that log chart is the right thing to look at and instead the linear chart is where you cannot draw any lines because bitcoin doesn't grow linearly.

jonald_fyookball

legendary

Activity: 1302

Merit: 1008

Core dev leaves me neg feedback #abuse #political

You cant draw a trendline on a log chart and expect to be taken seriously. Im a permabull but please gtfo with your looney prediction

tyrexs

sr. member

Activity: 266

Merit: 250

i have no reason what i must say when i read this. what a prediction, i think is crazy now price get back to $600 like impossible

SmoothCurves

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Quote from: bitpump on July 07, 2015, 12:04:16 AM

Bitcoin to $50k before Xmas

Original analysis at: https://www.whaleclub.co/post/0A2Jf

Original analysis at: https://www.whaleclub.co/post/0A2Jf

https://twitter.com/bitpump/status/618272964006518784

I prefer your other chart: https://www.tradingview.com/x/pOmNfT95/

bornil267645

sr. member

Activity: 406

Merit: 250

AltoCenter.com

In that case, we better gear up to sell BTC to Santa Claus

Zangelbert Bingledack

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Quote from: oblivi on July 07, 2015, 01:15:59 PM

Quote from: Zangelbert Bingledack on July 07, 2015, 12:59:49 PM

It's not that unrealistic.

Ask yourself, in terms of non-price aspects, is Bitcoin 50x further along than it was 18 months ago when we were over $1000? I'd say it's about 10-20x further along. Back then there was practically nothing compared to the current level of venture capital, big banks on board, popular acknowledgement, etc. Think what would happen if the bearish sentiment receded and people suddenly started feeling FOMO? All this "good news" that happened during the fall suddenly has to get priced in. Then, there's still 6 months until the end of the year, so we could by 2-3x further along by then, amounting to ~50x further along compared with end of 2013, and as price rises to match we could peak near $50,000 in a wild bubble top.

My guess would be that this happens more toward next year after the halving, but this year is quite possible.

And like someone mentioned, after a wild bubble tops and bursts, we'll have a correction, and a much higher ceiling will be set. But when it's all set and done, it will all come down to when to sell at the top. You may think you are at the sweet spot, sell, then find out you sold right in the middle of the rise. You think "I now only have to wait for the correction". The price keeps going up, bursts, and the correction happens, but the correction is never lower than were you sold at, you keep waiting and waiting and the price start going up slowly again. You are now left outside of the game for future gains. Enjoy your dollars/euros while the rest keep riding the BTC train.

That's why you use this: https://bitcointalksearch.org/topic/sss-a-sane-and-simple-bitcoin-savings-plan-345065

Hyena

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Quote from: BitcoinNewbie15 on July 07, 2015, 03:59:08 PM

$50,000 before Christmas would be amazing. That would definitely make a lot of people happy. 50k is a lot though, I don't even know if that is possible, but that would be interesting nonetheless.

You can be sure it will make more people unhappy than happy. All those banksters, warren buffer's cock suckers and duck fuckers will be soooo butthurt.

BitcoinNewbie15

sr. member

Activity: 574

Merit: 296

Bitcoin isn't a bubble. It's the pin!

$50,000 before Christmas would be amazing. That would definitely make a lot of people happy. 50k is a lot though, I don't even know if that is possible, but that would be interesting nonetheless.

Bagatell

hero member

Activity: 722

Merit: 500

Quote from: OrientA on July 07, 2015, 03:22:44 PM

Anybody can draw a random line to justify any price. That is not a prediction.

OPs line is not random.

OrientA

sr. member

Activity: 462

Merit: 250

Anybody can draw a random line to justify any price. That is not a prediction.

stallion

full member

Activity: 182

Merit: 100

50k is unrealistic as we all know it. We can yes reach somewhere to 50 or 500 USD , but 50k. This is possible only when everyone has adopted bitcoins. But then hypothetically ,millions won't be worth the millions.

NorrisK

legendary

Activity: 1946

Merit: 1007

This speculation is still quite conservative.. On the left, the spike was used to determine the startpoint of the trendline. If the spike was ignored and the avarage peak was taken, the line would end up MUCH higher!! Roll Eyes

trackermut

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Not a chance, never, not a snowballs chance in hell before Christmas, i want your drugs, your miles out mate 47000 max me things will be January before 50k.

oblivi

hero member

Activity: 700

Merit: 501

Quote from: Zangelbert Bingledack on July 07, 2015, 12:59:49 PM

It's not that unrealistic.

Ask yourself, in terms of non-price aspects, is Bitcoin 50x further along than it was 18 months ago when we were over $1000? I'd say it's about 10-20x further along. Back then there was practically nothing compared to the current level of venture capital, big banks on board, popular acknowledgement, etc. Think what would happen if the bearish sentiment receded and people suddenly started feeling FOMO? All this "good news" that happened during the fall suddenly has to get priced in. Then, there's still 6 months until the end of the year, so we could by 2-3x further along by then, amounting to ~50x further along compared with end of 2013, and as price rises to match we could peak near $50,000 in a wild bubble top.

My guess would be that this happens more toward next year after the halving, but this year is quite possible.

And like someone mentioned, after a wild bubble tops and bursts, we'll have a correction, and a much higher ceiling will be set. But when it's all set and done, it will all come down to when to sell at the top. You may think you are at the sweet spot, sell, then find out you sold right in the middle of the rise. You think "I now only have to wait for the correction". The price keeps going up, bursts, and the correction happens, but the correction is never lower than were you sold at, you keep waiting and waiting and the price start going up slowly again. You are now left outside of the game for future gains. Enjoy your dollars/euros while the rest keep riding the BTC train.

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