Topic: RALLY!!! - page 5. (Read 9801 times)
I bought at 12.9$, hope this doesn't turns very bad for me.
What is the top of this thing going to be? I hate when we rally like this because I have no clue where the top will be.
Last rally I called went from 5 to 15$. Let's see if history repeats itself and we hit 36$ before long. Perhaps soon after the block subsidy change event.
Look at the daily chart with a 100 day EMA on it... notice where we bounced hard after the crash from $15. Then pop the 50 day EMA on there and see where we've found support since then. Unless some serious volatility comes out of nowhere, that 100 day EMA won't be broken for the foreseeable future and the 50 should act as significant support. The 100 day is around $10 now and the 50 day is approaching $12. A huge rally above $15 in the coming weeks, on solid volume, would be a technical breakout on an insanely bullish chart. In Mid-August we were insanely overextended at $15+.... but now that our price has developed significant support around $10 and $12, we are primed for higher prices.
I view the release of asics as having the potential to break that support. In fact I'm sure it will happen - the only question is when and for how long.
Personally, I'm getting my bids in now so I'll automatically go long when it happens. And of course, I'm buying asics with fiat.
OTOH, after the rally, the price could come crashing down too. Remember last time the price went beyond $15 /BTC. There are simply too many BTC off the order book.
I remember it pretty clearly. When the price went to $15, it did it very rapidly. It didn't make any sense from any perspective. Then the market got hit with the "bad news" that pirate was supposedly paying back his investors, creating the worry that $5 million worth of coins were about to be released to the market, with a large number of those probably seeking a conversion to fiat.
This growth is slower, and, while retractions can happen, it's unlikely a >10% correction will occur.
What? A 10% correction is relatively minor. We'll have plenty of those, mark my words! Having said that, I do think the current situation is bullish.
Look at the daily chart with a 100 day EMA on it... notice where we bounced hard after the crash from $15. Then pop the 50 day EMA on there and see where we've found support since then. Unless some serious volatility comes out of nowhere, that 100 day EMA won't be broken for the foreseeable future and the 50 should act as significant support. The 100 day is around $10 now and the 50 day is approaching $12. A huge rally above $15 in the coming weeks, on solid volume, would be a technical breakout on an insanely bullish chart. In Mid-August we were insanely overextended at $15+.... but now that our price has developed significant support around $10 and $12, we are primed for higher prices.
OTOH, after the rally, the price could come crashing down too. Remember last time the price went beyond $15 /BTC. There are simply too many BTC off the order book.
I remember it pretty clearly. When the price went to $15, it did it very rapidly. It didn't make any sense from any perspective. Then the market got hit with the "bad news" that pirate was supposedly paying back his investors, creating the worry that $5 million worth of coins were about to be released to the market, with a large number of those probably seeking a conversion to fiat.
This growth is slower, and, while retractions can happen, it's unlikely a >10% correction will occur.
I want as many coins as possible but I don't have a ton of fiat sitting around. What I do have is a bunch of video cards, so they are happily hashing for me. And, I used the coins they minted to order ASIC. For me, it is mining or no coins, so I mine.
I LOVE rally threads!
I don't disagree entirely and I am sorry I didn't buy more when it was $5.50
I hope people realize that they'll soon be saying "I'm sorry that I didn't buy more when it was $13".
We could run through the $13 and $14 levels so fast too.
Should be a fun week!
OTOH, after the rally, the price could come crashing down too. Remember last time the price went beyond $15 /BTC. There are simply too many BTC off the order book.
As for me, I sell 50% of my BTC at every 20% rise in price since my last purchase and I follow my gut feeling for buying.
I don't disagree entirely and I am sorry I didn't buy more when it was $5.50
I hope people realize that they'll soon be saying "I'm sorry that I didn't buy more when it was $13".
We could run through the $13 and $14 levels so fast too.
Should be a fun week!
I don't disagree entirely and I am sorry I didn't buy more when it was $5.50
I hope people realize that they'll soon be saying "I'm sorry that I didn't buy more when it was $13".
I don't disagree entirely and I am sorry I didn't buy more when it was $5.50.
That being said, as a long term personal investment buying btc works.
But if we're talking about a long term investment in the bitcoin network... then we're talking about mining then spending the coin to fund growing businesses that use bitcoin. Growing the network and pushing it to become a mainstream payment processing network is key to enabling long term personal investment stability.
That being said, as a long term personal investment buying btc works.
But if we're talking about a long term investment in the bitcoin network... then we're talking about mining then spending the coin to fund growing businesses that use bitcoin. Growing the network and pushing it to become a mainstream payment processing network is key to enabling long term personal investment stability.
Rally thread brought to you by popular demand.
To add some content: I still think that buying BTC as long term investment beats mining investments hands down. At this time this opinion applies to CPU, GPU, FPGA and ASIC based mining. For what it worth.
The above opinion has not changed since I have expressed it privately and publicly in May-June 2012 when BTC was around 5$.
To add some content: I still think that buying BTC as long term investment beats mining investments hands down. At this time this opinion applies to CPU, GPU, FPGA and ASIC based mining. For what it worth.
The above opinion has not changed since I have expressed it privately and publicly in May-June 2012 when BTC was around 5$.
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