can BTC ever return to significantly below $100?

Jaroslaw

member

Activity: 84

Merit: 10

supernode

Quote from: smoothie on April 26, 2013, 04:55:38 AM

Quote from: Zaih on April 26, 2013, 04:52:18 AM

We had a $40 drop today alone.. We can easily have a $40 drop again from this point. It's going to go under $100 more than likely at some point. Who knows, we could even be looking at single figures at some point.

Unicorns, leprechauns, pots of gold at the end of the rainbow all exist also. Cheesy

Add to you list BFL also

smoothie

legendary

Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

Quote from: Zaih on April 26, 2013, 04:52:18 AM

We had a $40 drop today alone.. We can easily have a $40 drop again from this point. It's going to go under $100 more than likely at some point. Who knows, we could even be looking at single figures at some point.

Unicorns, leprechauns, pots of gold at the end of the rainbow all exist also. Cheesy

Zaih

hero member

Activity: 504

Merit: 500

We had a $40 drop today alone.. We can easily have a $40 drop again from this point. It's going to go under $100 more than likely at some point. Who knows, we could even be looking at single figures at some point.

manfred

legendary

Activity: 966

Merit: 1001

Energy is Wealth

the long term price is made up of:
cost of production + cost of distribution + cost of retail + cost of marketing + speculation
In recent times the speculative demand has been very high and supply steady so price is high. Once the speculation slows down price will settle.

MAbtc

hero member

Activity: 826

Merit: 508

120 support looks strong. We'll see. I've got sub-100 buy orders placed. But I wouldn't expect to fill those that are significantly below 100 (50-70s = significant?).

AmazonStuff

hero member

Activity: 628

Merit: 500

Maybe not significantly, but almost certain that we are going below $100, just take a look at indicators...

Kaiji

full member

Activity: 140

Merit: 100

Hoist the Colours

Anything can happen in a panic led selling frenzy. The lower it goes the more people try to sell to save what money they can. That being said there are too many people who will immediately buy when its low raising the price back up again. The anticipation of another $250 high being the main factor in preventing the price from staying below $100. Contrary to what some people think the high record price of BTC and the increase in speculators is the best thing to happen to it.

It will take a long time for people to lose faith and give up on making a profit. A gradual decrease over many months because of disinterest is more realistic than rapid drop to single digits.

crazy_rabbit

legendary

Activity: 1204

Merit: 1002

RUM AND CARROTS: A PIRATE LIFE FOR ME

It's always possible to go below $100. Even significantly. However, everyone should be happy it's still below $1000. Not buying at any price now will only lead to tears when we are the new billionaires.

zellt5

newbie

Activity: 12

Merit: 0

is there some kinda rule here against mentioning SR? in all of these threads it does not seem to come up...the way i look at it is people need to buy btc in order to initiate the transactions which are profitable enough to them in many cases that they could even be supporting themselves on it so if they cant get the coins they want in a timely fashion they will up the offer price...as long as nothing changes those simple facts i dont see why the price of btc would drop back down below 100 again barring some crazy catastrophic event for more then a very short time...i know people that rely on the bitcoin system to make transactions that otherwise would not be possible and i think that alone is enough to sustain btc well into the future

Dargumin

member

Activity: 107

Merit: 10

Quote from: superduh on April 24, 2013, 03:03:18 PM

Quote from: Dargumin on April 24, 2013, 02:53:42 PM

I don't think we've seen the end of the correction that began today. I'm confident we'll go below $100 before we reach $200 again. Though I don't see it getting anywhere like as low as $50. More like the $80 mark, and not for long.

what exactly do you base your prediction on?

Its far too soon for BTC to re-bubble past $200 given recent events. Even with today's paypal acknowledgment. Too many people who missed the opportunity to sell circa $200 last time won't let opportunity pass them by a second time. The resulting crash should briefly take us sub $100.

superduh

hero member

Activity: 602

Merit: 500

Quote from: Dargumin on April 24, 2013, 02:53:42 PM

I don't think we've seen the end of the correction that began today. I'm confident we'll go below $100 before we reach $200 again. Though I don't see it getting anywhere like as low as $50. More like the $80 mark, and not for long.

what exactly do you base your prediction on?

MykelJH

newbie

Activity: 42

Merit: 0

Quote from: Dargumin on April 24, 2013, 02:53:42 PM

I don't think we've seen the end of the correction that began today. I'm confident we'll go below $100 before we reach $200 again. Though I don't see it getting anywhere like as low as $50. More like the $80 mark, and not for long.

Wishful thinking. I hope you're right Grin

Dargumin

member

Activity: 107

Merit: 10

I don't think we've seen the end of the correction that began today. I'm confident we'll go below $100 before we reach $200 again. Though I don't see it getting anywhere like as low as $50. More like the $80 mark, and not for long.

Le Happy Merchant

hero member

Activity: 634

Merit: 500

Quote from: micalith on April 24, 2013, 10:12:42 AM

Nice selection of opinions

Maybe it's down to the timing of three major factors. Whether the press coverage and ensuing hype will overlap with the rapidly growing support and real implementation of BTC's in commerce, decrease in value due to new ASICs, and how many people decide to sell at around the Aptil 11th peak or not. Undecided

Currently I would say that press coverage is lagging the rate of real implementation of BTC. ASICs will not cause a decrease in value, and there is no reason to think that they would. The people who sell around the previous ATH will cause, at worst, a cup and handle pattern, but considering the current atmosphere I wouldn't be surprised if resistance at $266 was minimal.

micalith

hero member

Activity: 894

Merit: 501

Nice selection of opinions

Maybe it's down to the timing of three major factors. Whether the press coverage and ensuing hype will overlap with the rapidly growing support and real implementation of BTC's in commerce, decrease in value due to new ASICs, and how many people decide to sell at around the Aptil 11th peak or not. Undecided

jubalix

legendary

Activity: 2674

Merit: 1029

Quote from: evolve on April 23, 2013, 05:06:26 PM

Yes, it can (and on a long enough time scale, will) fall below $100. The question is when.

yes well sun exploding and all may do it.....your right

Kazu

full member

Activity: 168

Merit: 100

It can, but I wouldn't bet on it. In fact, I currently am betting against it.

BitcoinAshley

sr. member

Activity: 448

Merit: 250

Yes, it can.

Simple question, simple answer.

Grin

smoothie

legendary

Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

Quote from: evolve on April 23, 2013, 05:58:08 PM

Quote from: smoothie on April 23, 2013, 05:40:09 PM

no

Nope. Not ever.

.........EVER.

Even after the universe suffers heat death, and the last piece of matter has decayed into nothingness, bitcoin will live on...like Jesus or 80's rock.

All Hail Bitcoin!!

Roll Eyes

No

sunblaster

full member

Activity: 126

Merit: 100

If it does it will be at 3am gtm and only for less than a minute.

ElectricMucus

legendary

Activity: 1666

Merit: 1057

Marketing manager - GO MP

Quote from: evolve on April 23, 2013, 05:58:08 PM

Quote from: smoothie on April 23, 2013, 05:40:09 PM

no

Nope. Not ever.

.........EVER.

Even after the universe suffers heat death, and the last piece of matter has decayed into nothingness, bitcoin will live on...like Jesus or 80's rock.

All Hail Bitcoin!!

Roll Eyes

Yes if you follow the true beliefs of a "true believer" to it's ultimate extent, that is actually what they truly think will happen. It's ridiculous beyond any notion but here it is:

Ever noticed the terminology "Bitcoin singularity" here in the speculation forum? As I mentioned in my thread "This is what some of you actually believe" it is borrowed from transhumanism which in term uses it to describe two things: 1. infinite technological progress in a finite amount of time and 2. which is essentially the same thing when it comes down to it the the actual heat death of the universe itself as described in tiplers omega point.
The latter is the holy grail of transhumanism and as such of Bitcoinism which falls under the same category.

In one sentence the omega point consists of a computer made up of all matter the universe build by it's inhabitants to simulate not only infinite universes but every possible universe recursively. (Said to be possible because of time dilation effects)

In a sense it's both the most romantic and delusional idea I know, for what's it worth. That Bitcoiners don't even know for themselves what they are talking about only makes this more funny mention.

PS: No I am not trolling
PPS: Ignore at your own peril

BubbleBoy

sr. member

Activity: 504

Merit: 250

30 (pessimist) to 60 (optimist) is what I expect too, long term. The buying sentiment is simply fading away:
https://www.google.com/trends/explore?hl=en#q=btc-e%2C%20bitstamp&date=today%201-m&cmpt=q

Ditto for mtgox, but I think these smaller exchanges are more relevant for buying sentiment because they are less likely to be searched by someone who simply wants to know the "price" of bitcoins. Plotting the exchanges also addresses the "people don't search for bitcoin anymore because they know what it is" argument.

This current dead cat is caused by people who were incentivized by the first run-up, sent their money to the exchanges, but the ddos and the attacks popped the bubble prematurely, before they could buy in. So they are seeing this as a chance to buy cheap, and the positive evolution confirms their expectation and fuels the greed. Trouble is, there are no greater fools filling the ranks from behind, people who were not caught in the initial whirlpool have seen the risk and will simply stay away.

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

Of course it can, you might search the forum for posts from 2 weeks ago, you'd find much more optimistic questions.

Bitcoin market is so low that one fairly big sell off can send it to oblivion if some big holder decide it's in his interest. It might not too though, there's absolutely no way to know it at this point. Just be careful and don't ever let smarters like smoothie to blind your mind when it comes to your coins and your property.

evolve

hero member

Activity: 700

Merit: 500

daytrader/superhero

Quote from: smoothie on April 23, 2013, 05:40:09 PM

no

Nope. Not ever.

.........EVER.

Even after the universe suffers heat death, and the last piece of matter has decayed into nothingness, bitcoin will live on...like Jesus or 80's rock.

All Hail Bitcoin!!

Roll Eyes

jambaman42

newbie

Activity: 42

Merit: 0

Quote from: superduh on April 23, 2013, 04:04:08 PM

ok man. you'll be buying them soon enough but most likely not for what you are hoping for.

Maybe I will and maybe it won't be for the price I want. Right now I invested in a litecoin mining rig and I'm leaning toward buying some of those. But, chances are bitcoin will drop quite a bit in the coming months. By the end of the year I can see it being at a more stable 100, but it needs to grow.

smoothie

legendary

Activity: 2492

Merit: 1491

LEALANA Bitcoin Grim Reaper

no

nobbynobbynoob

hero member

Activity: 784

Merit: 1000

Annuit cœptis humanae libertas

The only flaw in that argument is this isn't June 2011.

I think (but do not know) that this recent bubble up was nowhere near as (proportionally) extreme or bubble-like as the runup in 2011. So the aftermath will perhaps pan out differently, because there are different forces at play now. That is not to say we won't go down, though.

SlipperySlope

hero member