Considering US dollar is very strong recently, breaking 700 means a lot

BitcoinHodler

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in my opinion this only proves that bitcoin price is not really connected to how strong or weak USD is. and i have said this before when people were saying US finances is down the tube and bitcoin will rise, i always said there is no relationship there.

Quote from: The Sceptical Chymist on October 29, 2016, 09:57:14 PM

Well as I write this, my Mycelium wallet is showing $699.30 as a price, so my guess is that a lot of folks are taking their profit off the table. Not a bad thing to do at all, and hopefully this rally will resume shortly. That also means it's probably a good time to buy. Buy the dips and such--I'm usually not a firm believer in that phrase, but I think it's valid here.

whenever there is a rise big or small, people will sell to take some profit and buy back at the bottom that is why there is always a drop after each rise without any exceptions.

pereira4

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The yuan is going down the shitter which is helping a lot since BTC goes up when chinese currency gets devalued, the dollar doesn't anymore, when don't need it, just pay attention to the yuan, and also of course segwit is coming,this is helping the price. 800+ is coming soon.

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Quote from: alyssa85 on October 30, 2016, 05:01:57 PM

Quote from: The Sceptical Chymist on October 29, 2016, 09:57:14 PM

Well as I write this, my Mycelium wallet is showing $699.30 as a price, so my guess is that a lot of folks are taking their profit off the table. Not a bad thing to do at all, and hopefully this rally will resume shortly. That also means it's probably a good time to buy. Buy the dips and such--I'm usually not a firm believer in that phrase, but I think it's valid here.

Hopefully the price will consolidate at this level for a few months. Usually when it goes up too fast, it comes back down again equally fast.

Bitcoin can't be predicted exactly. Right now the price increase has been getting continued, it has also got the possibility to give a consolidate price for a few more months as quoted by above mate. Same as the increase the decrease happens but this time steep increase haven't took place, so price fall occurs to certain limit and not less than $675.

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Quote from: The Sceptical Chymist on October 29, 2016, 09:57:14 PM

Well as I write this, my Mycelium wallet is showing $699.30 as a price, so my guess is that a lot of folks are taking their profit off the table. Not a bad thing to do at all, and hopefully this rally will resume shortly. That also means it's probably a good time to buy. Buy the dips and such--I'm usually not a firm believer in that phrase, but I think it's valid here.

Hopefully the price will consolidate at this level for a few months. Usually when it goes up too fast, it comes back down again equally fast.

Kprawn

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Quote from: aesma on October 30, 2016, 02:03:03 AM

I wanted to buy more BTC but now I don't know, if I buy and it goes down... I could buy some and sell as soon as it has gone up some more to secure the winnings.

I thought the same thing when the price was plummeting to $250 a while ago... everyone was running away and selling. I stopped listening to

anyone else and decided to buy. The price tripled in value in the next couple of months and I made shitloads of money in a very short period.

I cannot predict what will happen with the Bitcoin price in the future, but I will be ready... IF the price goes to the Moon. Today you might buy

at $700.... but within a year the price might go up to $10 000 ... Who knows. Huh

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Quote from: aesma on October 30, 2016, 02:03:03 AM

I wanted to buy more BTC but now I don't know, if I buy and it goes down... I could buy some and sell as soon as it has gone up some more to secure the winnings.

If you look at the market chart and events of last few months you can see same pattern of good uptrend in price however price get dumped as bitfinex lost really high amount of bitcoin. And actually current $700 price was around near to the price bitcoin have just before bitfinex getting hacked, so this recent big pumps can be considered as price recovery.

So now my suggestion for you will be to buy bitcoin with half of your fiat and if price pumps (which is more likely to happen) you will earn good amount and if price gets some dumps you better use remaining half fiat to grab even cheaper bitcoin.

tunctioncloud

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Frankly, I don't see why that would matter a lot. Yes, when compared to another fiat currency - but they're all crappy - you'll have more, but that's too little to be really that important according to me.

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Quote from: aesma on October 30, 2016, 02:03:03 AM

I wanted to buy more BTC but now I don't know, if I buy and it goes down... I could buy some and sell as soon as it has gone up some more to secure the winnings.

I guess this must be a right time to buy bitcoins with a speculation of $1000 price levels, but you maybe needed to wait for two or three months as bitcoin prices may fall down up to $680 or even $650 prices. But many experts are suggesting that bitcoin prices will be testing $1000 levels before end of this year.

aesma

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I wanted to buy more BTC but now I don't know, if I buy and it goes down... I could buy some and sell as soon as it has gone up some more to secure the winnings.

milewilda

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I really cant believe that bitcoins price would able to pas 700+ mark on a matter of weeks on the end days of october which is unexpected though because i was expecting to reach that price on mid november or december but the news regarding on chinese do buy huge volumes of bitcoin did really affect on bitcoins price and now the price is starting to deflate again which is really normal because traders would surely see this as an opportunity to sell of their coins to secure profits.

The Sceptical Chymist

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Well as I write this, my Mycelium wallet is showing $699.30 as a price, so my guess is that a lot of folks are taking their profit off the table. Not a bad thing to do at all, and hopefully this rally will resume shortly. That also means it's probably a good time to buy. Buy the dips and such--I'm usually not a firm believer in that phrase, but I think it's valid here.

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Quote from: monbux on October 29, 2016, 04:53:54 PM

Quote from: biggus dickus on October 29, 2016, 04:46:07 PM

The Swiss national train service making Bitcoin purchases available through all its ticket machines means a lot. Breaking 7000 isn't inconceivable next year with mainstream companies like that taking Bitcoin seriously. Bitcoin's all over the news again, and for the right reasons. The news of the Bitfinex hack held the price down, but once good news started again the price started breaking upwards.

PS

The OP ihas a typo in it, "Consifering" should be spelt considering.

700 Seems big, but so did 1000 back in 2013. However, I doubt we'd jump that high in 2017. Bitcoin is gaining more tracking and the growth may be exponential, but I'd expect to see a fall and a quiet January before it jumps again. Pure speculation though.

A lot of people consider that an ATH over the next few months is a done deal. All we need is something to get the bull rally started off.
We know how insanely prices can be pushed up in the crypto-world.

ivanst776

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Quote from: biggus dickus on October 29, 2016, 04:46:07 PM

The Swiss national train service making Bitcoin purchases available through all its ticket machines means a lot. Breaking 7000 isn't inconceivable next year with mainstream companies like that taking Bitcoin seriously. Bitcoin's all over the news again, and for the right reasons. The news of the Bitfinex hack held the price down, but once good news started again the price started breaking upwards.

PS

The OP ihas a typo in it, "Consifering" should be spelt considering.

Maybe you meant $700 because $7000 is way to far and I don't expect this to happen in this decade so I think we should forget about this target.

US dollar is managed from lots of people and will become strong because it is used by millions or billions of people and comparing with bitcoin is not fear, what I don't want to see now is an exchange hack which could crash the bitcoin price.

monbux

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Quote from: biggus dickus on October 29, 2016, 04:46:07 PM

The Swiss national train service making Bitcoin purchases available through all its ticket machines means a lot. Breaking 7000 isn't inconceivable next year with mainstream companies like that taking Bitcoin seriously. Bitcoin's all over the news again, and for the right reasons. The news of the Bitfinex hack held the price down, but once good news started again the price started breaking upwards.

PS

The OP ihas a typo in it, "Consifering" should be spelt considering.

7000 Seems big, but so did 1000 back in 2013. However, I doubt we'd jump that high in 2017. Bitcoin is gaining more tracking and the growth may be exponential, but I'd expect to see a fall and a quiet January before it jumps again. Pure speculation though.

biggus dickus

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The Swiss national train service making Bitcoin purchases available through all its ticket machines means a lot. Breaking 7000 isn't inconceivable next year with mainstream companies like that taking Bitcoin seriously. Bitcoin's all over the news again, and for the right reasons. The news of the Bitfinex hack held the price down, but once good news started again the price started breaking upwards.

PS

The OP ihas a typo in it, "Consifering" should be spelt considering.

lionheart78

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Yes it is a great thing for bitcoin to pass 700 USD when USD is strong. This simply means that Bitcoin is gaining grounds and the price is being supported and backed by real buyers, investors and not just some pump from whales just to create bubbles and be burst after making bitcoin price to plummet and lots of investors caught in the bubble to lose money. I think this time is different than what happened in 2013.

mkc

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Can we use an old phase? this time is for real.

Topic: Considering US dollar is very strong recently, breaking 700 means a lot (Read 952 times)