A simple BTC charts tell me a breakout on Apr 2013 levels, which is projected at least double from Apr 2013 high. BTC/USD 500 could be a short term top with most conservative prediction. However breakouts frequently create parabolics which can be translated into four digits in BTC quite possible for the next 6 months or so. One thing people don't understand: BTC charts is unique, it can't be comparable to other charts such as forex charts or indices or even commodities. The difference is all the forex and indices (fiat based) instruments have unlimited supply. Everyone knows what is a stock dilution, when prices go parabolic in stocks or forex demand can be decreased by increased supply.
Now ask yourself: How can BTC supply increase when parabolic-demand occurs? Same analysis is true for crude oil and precious metals also. But BTC gives supply information more clearly than commodities. We know how many BTCs are available to trade. And other imporant point to remember is: BTC prices can't be controlled by paper contracts (gold and silver prices can be manipulated and controlled by paper, yeah futures and options contracts).
Topic: BitCoin to Correct? Your Comments - page 2. (Read 3589 times)
With this recent spike, do you think BTC is going to crash?
In case you didn't notice, there was a correction along the weekend that took a whooping 48 hours to recover from. Now go see the charts at 47$ back in march and tell me what you see. 
So predictions range from about $120 to $500.
It seems fairly certain that there will be a large down-trend through, even if it does break $400.
It seems fairly certain that there will be a large down-trend through, even if it does break $400.
I believe that the current China-driven rally will surpass $500 before a dampened oscillation correction similar in shape to April 2013.
That's because people already tried taking a profit at $30 and look what good that did them. I'm following the Great wall of China, which is saying - up (after a little breather). But hey, who knows?
Bitcoin will drop hard to the 100's$
120-150 is my guess.
People don't understand the concept of profit-taking around here.
It doesn't look that bad to me.
I'm talking about trading volume. It was about $25mil on Sat and Sun, and is now down to about $6. Average for Gox, I believe is about $3-4 mil, so demand is still likely to recede.
What I meant is that buys into the order book are tiny at the moment.
Dude you're noobing so bad right here. Obviously gox volume is going to be lower, considering they screwed up the worst theyve been in months. Volume going down doesn't indicate demand going down, it indicates nobody using the exchange. As April indicated, volume going up can indicate a crash as well as a rally.
Bitcoin will drop hard to the 100's$
Actually -
I saw it happen.
It went from $395 to $307 at 8:10pm EDT Saturday night. Almost instantly.
It then jumped up to $348 right after that.
That was the correction.
It has now recovered from the correction.
I saw it happen.
It went from $395 to $307 at 8:10pm EDT Saturday night. Almost instantly.
It then jumped up to $348 right after that.
That was the correction.
It has now recovered from the correction.
This. We are on a steady path to the moon.
It doesn't look that bad to me.
I'm talking about trading volume. It was about $25mil on Sat and Sun, and is now down to about $6. Average for Gox, I believe is about $3-4 mil, so demand is still likely to recede.
What I meant is that buys into the order book are tiny at the moment.
It went from $395 to $307 at 8:10pm EDT Saturday night. Almost instantly.
It then jumped up to $348 right after that.
That was the correction.
It has now recovered from the correction.
It then jumped up to $348 right after that.
That was the correction.
It has now recovered from the correction.
Is this not just a bull trap?
Actually -
I saw it happen.
It went from $395 to $307 at 8:10pm EDT Saturday night. Almost instantly.
It then jumped up to $348 right after that.
That was the correction.
It has now recovered from the correction.
I saw it happen.
It went from $395 to $307 at 8:10pm EDT Saturday night. Almost instantly.
It then jumped up to $348 right after that.
That was the correction.
It has now recovered from the correction.
Order book buys are miniscule on Gox ATM. Volume in general is also down, both in BTC & USD.
It doesn't look that bad to me.
Ok, I can clearly see where we're headed now:
Up.
This will be an interesting week.
Up.
This will be an interesting week.
Nonsense. Total bid is at $21mil. Few millions more than average last few weeks.
Yes. Order book goes down to $21 mil. at about $1. But trading volume is way down. As demand goes down, so will the prices. The spike saw $25 mil. in trade on Gox in one day. Now its about $6 mil. and a lot of that has been dumps.
Actually no.. volume always goes down after a correction and the price starts consolidating before the next big move. It's called the calm before the storm or the eye of the hurricane. Most people don't know what to do and everyone's looking at each other, so that means volume will stay low until either some bulls or bears make the call and things quickly escalate from there. Since the trend was up before the correction and subsequent consolidation, the most likely outcome will be a rally from here. A crash is more likely to happen at the end of a big move upwards, it will usually come sudden and unexpected for most.
I wouldn't hold a leveraged long position right now, but I'm holding. We haven't seen the end of this rally yet. I think we will approach $500, may not surpass it.
Nonsense. Total bid is at $21mil. Few millions more than average last few weeks.
Yes. Order book goes down to $21 mil. at about $1. But trading volume is way down. As demand goes down, so will the prices. The spike saw $25 mil. in trade on Gox in one day. Now its about $6 mil. and a lot of that has been dumps.
If you haven't noticed last week. The price dipped at $300 from $350, so it's like a mini bubble burst. Don't know if panic or mania propaganda will work this time in manipulating. 
Oh man this next rally will be relentless if I see how many people think it's going down. Everyone who sold or is waiting at the sidelines for a dip will fall all over each other chasing the price way over $400. 
Order book buys are miniscule on Gox ATM. Volume in general is also down, both in BTC & USD.
Nonsense. Total bid is at $21mil. Few millions more than average last few weeks.
Order book buys are miniscule on Gox ATM. Volume in general is also down, both in BTC & USD.
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