Topic: We are down again? - page 18. (Read 18074 times)

My guess is the main reason behind the recent price increase is people's wish to have a lot of bitcoins at the time of block halving. None wants to sell their bitcoins. If someone does sell its just to rebuy later, more and cheaper.

True. The below $300 is usually considered as a low. $500 seems more like an average as the ATH has been $1244 till now. I dont see a reason to panic as it is just the lull before it goes bullish again.

Big players cashing out huge amounts of coins they have been buying around $200-$250 while a lot people were waiting for the price to move. They made themself millions. I'm not sure when the next rally will start, but I think this is just a short break. I hope the price will go above $400 and not go below it anymore.

Don't wait explanation. All the story of bitcoin has one name: volatility. At exception of the last 10 months when its price was almost stable all the story of bitcoin is up and down. The reason: Immature currency, no Central Authority to help it to be stable, short life in the market and very few spread in the overall population are some of the most important. In other words: bitcoin is yet a "innocent child currency".

Ever heard of pump and dump. If you buy low and push the price up, the only real way to profit is to sell high and dump the price. Economics 101. Also, common logic 101.

seems price goes down after reach 500 and now going down maybe can drop under 400$ this evening 

Yeah. I think the increase last night just went too fast, but if it doesn't bounce back up I think it'll stay stable at $380+ for a while before it goes any lower.

$600 in 2016?
Is that all? Just watch, a few more big up days and you will see predictions of $5,000 to $6,000+ in 2016. 

Yes even though price is back to around 440 range but I still feel there will be some more correction because this bull run is without any proper reason. Also now we are almost 100% jump from last month price. I don't think this prices will survive in this range for long time but if the price stabilize at this level for next few days or a week then this is real run up.

i just saw the price at CoinDesk and it's back again to $444 and i think the bitcoin price will reach to $500 again today

1. Bitcoin unicode
2. W3C
3. China new rule

I guess i was right, this is just a temporary crash, the price on preev is back on 430 while xapo touches 434
Should be back at 450 soon if no more dump happening

The Roller coaster is back ! 

The price skyrocketed to 500$, so people unloaded and dumped hard. It seems to be ending though and it's back up.
But I think we've discovered a strong resistance at ~500$.
Yesterday, I had nothing to do at my job so I tried bitcoin trading in JPY, kinda funny when you win, 50$ made.

If its 1. , then they might cashout at some point for sure, causing a massive dump.

if its 2. , then the ponzi owner himself might cashout big time along with the participants causing another potential dump. Either way I see a dump incoming.

Welcome back!

Two theories abound.

But first, the fact of the matter is that the price action is being driven by action on the CNY exchanges. Western exchanges sell off hard, but China keeps on buying. Even now, after that brutal correction on USD exchanges, China is some $60 beyond the USD exchange price (I would have surely thought that someone somewhere would be in the position to arbitrage such a massive gap).

There are two theories as to why the buying pressure from China is so unrelenting.


1) Investors disenchanted with the stock markets, are moving towards Bitcoin, and also using Bitcoin as a way of getting their wealth out of CNY, which 'protects' them from any further government devaluations of their currency and also allows them to easily circumnavigate stringent Chinese capital controls.

2) Some Russian conman is operating a Ponzi scheme offering 20% per month interest payments, for which he requires payment in Bitcoin (to enter into the scheme).


The likelihood is, that Bitcoin is being subject to yet more carefully and centraly orchestrated pumping and dumping. Market cap is still very small, and with the memories of the astronomical gains of past Bull runs (all of them fraudulent to some degree imo), I think that Bitcoin is a market where people might be persuaded to take leave of their senses and their ideas about how markets (normally) function. Question is, how high can the next manipulated bull run go? If I were a venture capitalist cowboy market manipulator, I would imagine that Bitcoin could be easily ramped to around $2000, before I took a great big dirty dump on the market and left the unsuspecting stampeding proles holding the bag.

Question is, is this the start of a new mega-pump?

With an undisputed bottom having been reached, and a period of excruciating trending in $200 range behind us, I think it could well be. Like I said, if I was a pump n dumper, why leave it at $500 when you know that Bitcoin rising up and taking out it's ATH of $1200 is in many investors heads, simply a matter of time? A matter of when, not if?

There wasn't a clear reason for price to rise in the first reason, so a drop isn't very surprising, however the one day thing was.

THe price should anyways rise in the following months, specially due to halving happening soon.

Hopefully this is just a temporary crash, and the price will be back up few days later
If this price keep going on like this i hope sig campaigns want to raise their rate again after being dropped yesterday

600$ in 2016 will probably make sense specially because of the halving happening around then. But I was surprised of the recent rise right now. Does the article describe why the rise in November ?

good article on Coindesk,without hype,fud,speculation news, http://www.coindesk.com/wedbush-revises-12-month-bitcoin-price-target-to-600/

Wedbush is predicting 600$ in 2016,In june thay predicted 400$ level in November,so stay cool