Topic: Is bitcoin more likely to rise about $1,000 or go and stay below $500? - page 3. (Read 3536 times)

I still think we need more time to allow the market to soak in all the bad news. People are holding and waiting anxiously for positive developments, but have their fingers on the sell button, ready to click. If we don't hear any positive developments about the tx bug and customer withdrawals soon, I have a feeling that the market will get much worse as frusteration mounts.

If this week wasn't enough to knock the price down under $500 (excluding that one short-lived blip at BTC-E), it seems bullish to me.

Going over $1000 to stay is a forgone conclusion. The only question is when.

Going under $500 is a possibility. The question is how long it will stay there.

Yes.

This is what has happens in the past, and it's going to happen again.... It slowly drops down to whatever.. then the media stops talking about it, and people start to forget about it, then out of no where, it'll sky rocket.

So, I'm thinking it'll dip down into the 400 - 300.. then do a sudden dip to 290's for a very short time before it sky rockets to $10,000... Then the media will be all over it, and it'll all happen again.. Wash, rinse and repeat, Wash, rinse and repeat, etc...

I've been around BTC sense 2011, and this whole up and down thing is just how it works. It's funny what kind of things people relate the price to... "Hax, China, Gox, etc..." ... People will say whatever to relate the price fluctuation to the market, it might be true, but it might not be true.

I think it's more likely to rise above $1,000 for a prolonged period than to stay below $500 for a prolonged period. If it drops below $500 it will be a result of a small group who have tons of coins to sell and would recover quickly. Flash crashes are much more likely now but they will be bought up insanely quickly. We're at half the price of our ATH and the majority sentiment is that BTC has the potential to reach and surpass that ATH within the next few months to years.

When you look at charts you can't predict the support from people who don't have bids set yet. This includes CoinBase, BitPay, and other brokerage firms who buy on customer demand not reflected in the charts.

I think the masses support a price in the $600-$650 range and upwards. That being said, the length of time the price hovers in this range will be a major indicator of how powerful our next rally will be... It has to hover here for a little while to establish a base but the longer it floats at $600-$650 range the less powerful the incoming rally will be on the logarithmic scale.

If the price falls below $500 it will be the fault of the large players and not the masses. Once the FUD clears and Bitcoin still exists the trend will be taking another turn. The 3rd and 4th quarter of this year should bring at least $3,000 (the rally indicated by the peaks of April 2013 to November 2013 on the logarithmic scale) but as high as $10,000 (the rally indicated by the peaks of May 2011 and April 2013.)

The rallies are getting much closer together reflecting the general sentiment as awareness increases...

Down below $500. Not sure for how long, but likely for the remainder of 2014 at least. I hope not forever.

As the poll states, is bitcoin more likely to rise and stay above $1,000 or go and stay below $500?