Topic: Did we finally reach the bottom? - page 2. (Read 3358 times)

Now tell me please who would mine nowadays for nothing,I mean if price is not so important for you how miners could cover his losses and reach ROI huh?

I fully agree with that.  Bitcoin's fundamental is merchant adoption.
The demand for bitcoin as a means of payment is the real fundamental of the price.  In other words, the market share it can take in the fiat market as a currency.  For the moment, that is still very very low, but it is growing.

The funny thing is that it gets frowned upon by "bitcoin bulls" because it "lowers the price with all that dumping", while it brings bitcoin exactly towards (one of) its fundamentals.

Of course, on top of that, there are two other contributions:

1) long-term store of value (which is not credible right now with such a short-lived and volatile asset) such as gold.

2) speculation on the future fundamentals (which Warren calls "bubble territory").  It is the dominant price determinant for the moment, and is totally unpredictable because it depends on the whims and beliefs of people.

Pretty big range. Almost too big to disagree with. I don't like to think that long term. I am eyeing the $200 zone (Bitfinex) for a mid term bottom, personally.

I think it wasn't bottom
the bottom is around $1-$100 dollars

me thinks BTC may go to $90, LTC under $1. It would certainly need to be this low before I bought any more.

The prize is hidden at the bottom. :p

Bitcoin needs a big corporate player to change the game.

Very close to bottom. If price continue to go down, the whole system will implode and say goodbye to bitcoin.

This is the smart talk.

No. the bottom is the bottom Which would in this case be 0. Now i don't think we will ever get to 0.
 

I think we havent reached the bottom yet, but the upside is that the price should go up around february

Up to most 305 but I doubt it will go much higher than current price.
In about 5 days we know how low it will get. I would say at least 240

I am not sure, I think the fall trend is not finished.

no that wasnt bottom, it would have bounced way harder

im feeling short term uptrend to 305-315 range then down to 230-240 in a few weeks to a month

It depends what you call the bottom.
I think it can go lower than this.
Too bad I'm a greedy motherfucker, I want the cheaper versions of the same coin so I get more of them in the end.

Aren't we all?

I know you like learning the hard way, but sometimes its best to look at the big picture and not with your crazy eyes (you know, the ones that have dollar signs in the middle).

No. Just plain and simple.
Don't want to explain, but I'm sure I'm right.

My prediction for the year. Up some, down some, up some, down more, up some, down a lil, up some, down more, until 2016 halving. then panic due to mining only making 50% and the epic bubble never came... D: D: D:

PS - there's still a chance for self-fulfilling prophecy though!

TL;DR - Volatility and lower lows.

Everyone think to know where the bottom is, but at the end it surprises many of us time on time again. 

Let's see what happens with the price when Bitstamp resumes trading, that's what people are waiting for now.

I seriously think we are headed down to 200 or lower, there's no reason for bitcoin to be this expensive. Bitcoin is used for transferring value from person to person without anyone in the middle taking an outrageous fee. The ONLY reason bitcoin should be higher priced is if there isn't enough value in bitcoins to hold the amount of wealth the community as a whole would like to transfer and frankly... no one uses it for that atm. It has plenty of room to move down and still be extremely functional for what it was intended to do.

As Warren Buffet says, it's silly to think Bitcoin has some giant intrinsic value, especially in it's infancy... the value is the blockchain, it functions exactly the same no matter how high the price is, and until people start using it for its intended purposes and not just a speculative investment, we will always be in "bubble territory".

Granted, there will always be investors in every single asset. But right now, its an overwhelming unbalance of speculation, with barely anyone actually using it for it's intended purpose other than the few.

I'm starting to feel like too many people's futures are dependent on the next bitcoin bubble and that this is going to be a self-fulfilling prophecy. The only thing a giant group of people with greed in their eyes are going to cause is a bubble.

If you truly care about bitcoin and feel it's the future, start using it for it's intended purpose or we will never get passed where we are now. Don't buy it.... say "I'm pro bitcoin, it's the future!", sell it when it rises at a profit and continue using the same fiat system you speak so negatively about..

It just goes to show that when it comes to profit, bitcoin doesn't mean all that much, and lets face it: Most of you only know of bitcoin due to the bubbles, you're here for a profit.