Topic: Do you think the rally is over now... or very soon? - page 3. (Read 16010 times)

I sold 20 at 27$, I'm not kicking myself, it gave me fluid capital to buy and sell  in the dips and peaks over the past few weeks.
Now i've sold 5 BTC at 41, going to sell another 10 at 50$ (if it hits there) Then I'm sitting for a while to watch the market. I also have an order placed to buy in another 20 at 20$

I sold ALOT of btc around the $31.50 mark. I am kicking myself in the ass right about now because I thought it was going to be over around $33. 

too fast for accuracy.

You mean $45.

up to 44$ now..
were def in a real bubble now, this spike is nuts.

Another dollar up per bitcoin in the last couple of hours.

There comes a point in time where the price growth becomes exponential.  We saw it in 2011 shortly before the collapse.  Is $2 or more growth per day sustainable?  Who are the buyers?  Are they buying simply because the price is going up?  That's a classic bubble.  It's not different this time.

While I was typing this the price spiked another 50c...

please... please drop back down to low 20s... please? D:
XD I want to buy more!

I lol'd.

Rally will end when I decide, everyone.

Did you see it? We crashed to 39. Soon enough for you? My, it gave me a real feeling of nostalgia to be back in the 30s. Took me back to the heady times of early this AM when you could buy three quarters and still get change from a dollar (copper/nickel quarters, that is. Real ones are too rich for my blood).

Y'know son...

Nobody thinks this is the time to sell. That is why the market is rising.

When it is going down, then your assumption makes sense.

yeah this is definitely the top. we are never going above 41, since it's just like 31 in 2011

The rally is over.. LMFAO

Q) Since this thread was started, only one thing was missing, do you know what that is?

Panic buy!
You need to buy now before we hit $49, $59, $69, $89!!   

Definitely it's possible and even sooner. Just missing one part - substantial improvement. You don't just fork bitcoin code for that, there needs to be solid intellectual investment. Shortcomings of bitcoin are well known - just need an elegant solution. I don't see one around, but maybe because I'm the "h8ter" Slight "improvement" over btc will not cut it, it needs to be substantial. Any kid can take the code, up the coin limit 4 times, mine some for himself and call it kidcoin, but that's not serious. Once any serious organization steps in and starts their alt-coins, I'll be watching, now - nothing comes close.

Fear is more powerful than greed. We've just broken the ceiling of last time, and nobody thinks this is the time to buy. I bet people have dumped their coins so they don't get burned like last time. The fact that it has stabilized rather than crashed instantly indicates that it's not the same beast. Prices are going to keep rising, slowly but surely.

True. Though I think for anything to not be eclipsed by Bitcoin, it will have to offer something that bitcoin does not and occupy a different niche. Consider that in the Galapagos, there were birds operating in several roles that mammals typically occupy in the wider world. They could do so, not because there was room for more than one animal in that role but because there were no mammals to fill that role in the Galapagos.

WRT Litecoin, I'm not particularly familiar with it but looking at its webpage, http://litecoin.org/ , it seems it doesn't really offer anything that bitcoin does not except, perhaps to the miners. And Bitcoin is about done with mining being a dominant part of its lifecycle. Good luck to it but I don't think it will be in my portfolio. Other currencies? Need exploring on a case-by-case basis.

So LTC and NMC and others are basically sucking on BTC's tit?
Makes sense, I agree with the analogy.

But I disagree that "no alt-coin will ever gain substantial traction." Basically saying that
This is not how a healthy market works. Even if, in 25 years, there are only 3 main cryptocurrencies - say, BTC with 94% market share, something else with 5%, and a third with 1% - then we'd still have a handful of hobby currencies trying out new features and trying to gain market acceptance. This is healthy. IMO, expecting that bitcoin is the work of God and will forever dominate 99.99999999% of the cryptocurrency market is akin to expecting an unhealthy monopolistic market with absolutely no competition or expecting that Bitcoin is the "perfect" cryptocurrency with the "perfect" features and the "perfect" everything that will absolutely never experience any problems and meets 99.99999% of the needs of 99.999999% of use cases. Is that a realistic expectation? Uhh, hmm...

Bitcoin started off great and yes, has a proven track record unlike any currently existing alt-coin. But we're only 5 years in. Why are we making grand assumptions about the future of cryptocoins? In 10 years, bitcoin will have been proving itself for 15 years but some other cryptocoins will have been around for 10+ years so what will stop them from gaining 2% of the market or something?

There's plenty of room for other playas in the game, don't be a h8er. :-P

I am going to quote you on this and then throw it in your face in a year or two. Really small thinking in my mind. Ltc will be adopted much faster than BTC was. Bitcoin already proved the concept, litecoin won't have the same hurdle to cross. In 5 years they will both either be dead or widely accepted, along with some other coins too.

I doubt LTC or any other coin for that matter would be able to gain significant followers, aside from few curios types and people with no money who missed the bitcoin bandwagon.

BTC worked 5 years on adoption, business acceptance, and generally proving itself as a real deal that can be trusted - and that is the basis for the current valuation, not the raw idea or some future expectations. Alternatives have that path yet untraveled, and by the time they will be where bitcoin is now, bitcoin will naturally be 5 years ahead.

So no, it is absolutely unrealistic that a clone cryptocurrency would take any measurable portion of BTC market. Right now, they are all in different states of BTC circa 2009 - play money for a handful of geeks. For any alternative to have any significant impact, it would at least need to have some serious benefits over BTC *and* a proven track record. BTC has a track record - 5 years of uninterrupted blockchain operation. Nothing comes close. And the process of claiming market share, if we see some game changing crypto protocol one day, would be gradual - cross-rate of exchange would keep rising until it completely replaces bitcoins. I don't see anything with a slightest potential for that, yet.

The only serious market portion now taken by alt-coin is NMC, and you know what kinda portion that is - 0.1%. LTC or any other wannabecoins won't have even 0.01% in a couple of years.