Topic: other indicators of where the price might go (Read 2207 times)

Well I can't even believe he's posting that chart for real. Not even fonzie can take that seriously (as a form of trolling). The resistance in January was already pretty impressive. Then the resilience to go below $220. This could be still 'it' - if not, surely the next big dip will be 'it'.

Just wait until mid April to take any conclusions, until then its too much speculation.

Fundamentally, we have nothing new developed recently, just news that are pure smoke. It means that indeed, price may revisit the levels we have seen two or three years ago and that wouldn't be unusual, as fundamentally nothing changed since then. However, I tend to favour another scenario as more probable for the months to come in 2015, namely more of the sideways boring trend. Volume at the edges of the channel ($200-$300) seems to confirm that so far.

I would expect some serious action to happen one year from here. Next halving event is scheduled for the end of July 2016, thus, it is reasonable to expect that the ETF would be launched in the close proximity to that event, but early enough to maximise the profits. Whales are speculators as well.

You do realize that TA means nothing right lol.

For all you know that it looks like a downward trend with no support, but it can go all opposite direction without any sign. Just know the TA is just for ideal purposes, and ends up being a delusional tool for intra day traders.

People who trade within that 1hr time frame, etc.

Double digits are not only possible, but probable as time goes on and we dont see price support.  People will decide to get out and not risk losing money.  A lot of holders have been holding for years, and have been expecting a return to the 1000+ levels.  Clearly that is not happening ANY time soon, so it seems like more holders will begin to exit btc in the near future

it depends on your starting point for such percentage calculations. only a few years ago it boomed to 31 and crashed to $2 ie 6.4% of its height. if you apply that to the gox debacle where it got to 1200 then a drop to 6.4% of that is $77.
double digits is entirely possible if history repeats

The lower it goes, the tougher it becomes for it to get lower as lowering by the same amount is much more in percentage points.
I am not betting on sub-100. If it goes below 200, I expect a crash to low 100s but that is for a short time. If you you sit hoping for double digits you will miss out.

It is bit involved. Iwill pm you with how to get the most from the site

Lol what support?
It's like a sinking and burning ship with people on it screaming everything is fine, don't worry.

This is a whales game. Some of these whales are completely anonymous, so how could one know their true intentions ?

I follow trends, I follow bitcoin news & legislation. If you follow these things, you will notice certain patterns. The patterns i'm seeing are positive ones that are strengthening bitcoin. Current price does not coincide with the positive news we've been hearing lately at all , therefore it leads me to believe and feel that the price is being held down purposely and indefinitely. 2016 is going to be the year with alot of shocks and surprises for the whole world. I've got my popcorn ready and a front seat.

thanks that's very helpful

I will check out the forums

Edit: Though, looking at these things, it seems to me you can indeed only buy tiny amounts.

Current Top 10 Sell Orders Quantity (Stocks)   Price Per Share
1   $0.0274
1   $0.0374
1   $0.0474
1   $0.0522
1   $0.0573
1   $0.0630
1   $0.0691
1   $0.0759
1   $0.0832
1   $0.0911

That's like half a dollars worth, and then we are back up to odds of "just" $10 per $1. I'm new to this, am I reading it right?

nearer those sort of odds I'd rather just hold the bitcoin itself.

Would it even be possible to buy, say, $1000 worth, in any reasonable period of time without dramatically influencing the market?

But for how long?

Bingo. Finally somebody talking sense.

not really sure how you now this but let me give you the example of Google Wave.

I was an earlier devotee - this seemed to be the next big jump. It had the aura that bitcoin has/had. it had its equivalent to etf and gemini in the wings
i spent 6 months of my life preparing tutorial type material to teach companies how to make the most of it. I thought i would make a good living explaining it to people.
And then Google canned it - some parts eventually have ended up in google docs etc but it never ended up the "saviour" that it set out to be.
Yet google wave was stunningly brilliant in the way bitcoin is in terms of person to person funds transfer (i think the guy who dreamed up google maps dreamed up goggle wave).

Anyway there is no Google type entity in bitcoin to kill it off but since its person to person funds transfer does not rely on its price (ie it can be $1 or $1000 and if you go fiat to bitcoin to fiat in a few hours the bitcoin price is irrelevant.

but the equivalent to being canned by Google for bitcoin is there that we are not establishing any sensible store of value for it . etf and gemini things sort of help but only at the margins.

so i see at least in the 2 year horizon a sub $100 price. to my mind when people are uncertain about the level of its store of value it drops in price - and the more it drops the more uncertain they are.

Sure.  No one is trying to undermine the tech.  But then this is the market, it could go down to 50 usd before rising up above 300 again.  Like you said no expected for it to go from 1 to where it is now, but then again the downside is also real since BTC is being traded in the open market.

This.  I was one of those people who was super bullish on BTC.  I never expected it would go below 500 usd.  And only to find out that the price surge to 1000+ usd was caused primarily by the Willybot.  Unless Willybot 2.0 goes online soon, I do not expect BTC to go up that far in the near term.

If anything I think the price is being held down. Probably keeping it as low as possible pre-etf and Gemini

You shouldn't rule out anything.
6 months ago, I wouldn't have dreamed about Bitcoin being sub-300, but we are there now. 

have a look at how quickly the price has gone down from say $500 in august 2014  to about $250 now march 2015 ie it halved in 8 months.

I saw nothing really holding the price up back then and i see nothing now so I cannot see why it would not halve again or more in 10 more months.


but I have happened to cover myself a little with my bets - I have taken a few at the $100-$500 range and will make $2.23 profit for $1 if that comes in.
I have then spend lots of $1s on the lower two out comes ie $50-$100 and $50-.

so unless the price is back over $500 the worst I can do is make 23c profit for every $3 spent. If the others come in I am going to make substantially more for my lots of $3.