Topic: We are headed to $50 (Read 9257 times)

Good job, Kwanduck Junior (OP), did you sell your BTC at 150$ (the bottom)?

If you had bought, would you be able to push the sell button today?

If the price will really drop that would be around -300 USD.
So i think that is not going to happen at least in the near future.
Besides the high pumps i would be happy to see a stable price of $350

All I can say now is that it definitely seems like we're actually headed the other way.  Bitcoin has gone up to over 350$ in just the last week or so.  Anyway, my preference would be for stability over price-gains anyway.  I kinda liked the long-stint at 250$.  I hope we can maintain 350$ for a while, I hate the roller-coaster.

i highly doubt that the price will drop that much as it is clearly going up right now everyone should sell their bitcoins in order for it to reach such low price

I think that for this year there is no way to reach $50.
Likely i am optimistic that the price will reach soon to the $300.
If you missed a '0' then i think that that would be reached in few months or after the halving period.

I was lucky to pick up coins at <= 200. If there is one thing I learned in trading aside from not following my emotions, it would be going against the general sentiment of the market. I'm enjoying a $70+  profit for each coin now.

I know what you mean. I am kicking myself not buying at $237 last month. I keep telling myself I could of made $40 profit off each coin if I held and sold at today's prices.

so we are seeing that the story will repeat itself but with big number this time?

everyone seems to wait for a clear signal of a skyrocketing, before entering serious on the market, but when it will happen for real, when there will be the real bubble, it will be too late as usual...

I was extremely close: $162 (Bitfinex) on August 18th.

I'll bump this thread with a small lesson,

Back in 2013 I was telling my friend to buy some bitcoins (on gox) when the price got to 70$ so he said he'd rather wait for it to go back to 50$, then the price got to 90$ and he still waits.. he finally bought bitcoin when it was 500$, then he lost all of it when we got gox'ed (he didn't listen to me again when I told him to get his bitcoin out..).

I thot this thread was created on 2009 / 2011 but is made in 2015
The btc will never get again at 50$
To many use btc.

Hey troller!

By major retail adoption I was speaking about the large companies who are using BTC as a form of getting paid for their services and goods. And while transactions may be low today it makes me wonder how many people were using the USD in its first 6 years around. I'm sure most "major retailers" were preferring the good ol gold and silver still, and not paying too much attention to the usd which had a major flaw in the beginning due to ease of counterfeiting.

VC investments.. Listen bud.. You can argue all you want but Marc Andreessen is an all star when it comes to the internet.. He built the first major widely used web browser Mosaic before moving on to co-create Netscape. While lots of VC money goes up in smoke i'm still feeling good knowing that such a powerhouse is behind a large portion of the vc funding coming into BTC. And yes while it may only be a few hundred million today that's been invested compared to almost none in 2012, its a great start, and lends more credence to my belief that one day BTC will be a major player out there.

ETF and OTC..... Firstly.. The ETF will be listed.. I dont know how long it should take, but I don't think its unreasonable to think it could take years to get approved. Its been in the process for what seems like almost a year now so I'm sure soon we'll be getting some news. And yes.. The BIT fund has not got any real action yet, but that's to be expected. To be able to sell a share of BIT you must have held it for at least 1 year. That means most of the BIT holders paid over $600 for their BTC held in the fund. Why would they sell the shares at a $300 value? What needs to happen here is either the spot price of BTC needs to move up to to appease the bit share holders or Barry needs to flood his fund with cheap btc to bring the avg cost down which will induce some trading.. He also mentioned somewhere that there is a way to create new shares based on the spot price now and let those shares trade, and I think he's also trying to get the bit fund listed on the NYSE.... Anyway.. Just be patient dude. Ecosystems take time to build, Investor confidence takes tome to grow, bureaucratic red tape is to be expected when applying for an ETF to be listed on the NASDAQ.

"Major retail adoption" -> no, it's only companies accepting USD through a bitcoin dump out of self promotion.  While a lot of merchants and companies "accept bitcoin", nobody is spending them, retail transaction volume with these merchants has totally stalled and is insignificant anyway.
Bitcoiners HODL their coins, don't spend them.

"Major VC investments" --> VC investments are very risky stuff by definition and the majority of them blow up, not a guarantee of anything. VC investments in the bitcoin space are not even that amazing in absolute terms, they just increased from virtually nothing (2012 for example) to something (today)

"ETFs ad OTC funds" -> the winklevoss ETF is taking forever, we never know if it will ever happen. Barry Silbert pink sheet penny stock little fund has not done anything so far, still 0 trades and the bids are a few grand worth, Basically, nobody cares.

It's cute that all you took from my post was this quote above.

 

I'm not saying you need to move on or forget about btc, I'm saying you need to stop calling for the moon thinking there is some reason it should be there, some reason the price should go up, some reason why your holding should be worth more! There is no reason btc should be at any price.. Once you realize that price doesn't matter, and not just you, everyone calling for $300- $500 moon ect... Just forget about it.. Let it "die". It's natural progression will get it to where it deserves to be at that time in its life. And if you want to keep buying btc and calling for the moon that's up to you.. But it wont get there till it bottoms out and stabilizes there. If you want to buy btc at $250 that's great just dont be buying it because you think its the floor and we're gonna moon tomorrow.. The moon is far far away if it ever comes.

So Mr Commoner. In closing... Dont forget about bitcoin, just forget about its price and loose the bias that it's gotta be at some price for whatever x reason.

Good luck with your Buying and hodling and trading!

So you're suggesting that the common man (i.e.,  the audience that bitcoin was made specifically for) should just quietly forget about bitcoin... so that whale traders and rich investors can quietly accumulate in the meantime.... and then just pump n' dump on the common man's head in the future when he is supposed to care about bitcoin again?

Ummmm, no thanks.  I'll buy it now, along with the other smart commoners.

OMG.. Bro If I had one BTC for every time I heard someone on here say we would never see it lower then $800-$700-$500-$400-$300-$200 Id have all the btc in the world! 
This is btc.. Anything is possible..Dont get me wrong.. I wanna see btc pop and go to the moon I really really do as my net worth would grow substantially but Ima realist and I know that anything can happen, and that for btc to moon a few things in particular need to happen.

Just look at BTC like any other alt.. You been seeing some alts coming back to life as of late.. have you not? That's because people forgot about them for a while, no one was calling for the moon. And then boom.. Like clockwork they are back trading at 300+ btc daily volume and making gains like way back when.

BTC needs to accomplish that. You guys, who are all calling for the moon are the reason we're not there yet. Let BTC "die". Forget it and the pipe dreams for a bit and once most people have either moved on or forgot about Bitcoin it will come out of its slump and make wonderful gains again.

Just my 0.2BTC

What do I know anyway?

Bob, it's because of those things coming that you'll likely never see sub $200 ever again.

$50 is not going to happen... The price was stable around $10-$12-$15 back in 2012 before the media took the ball and ran with it.. We then saw two pumps.. One to $250 range, which crashed back down to about $50 and then the infamous willybot pump to $1200.

We've witnessed some major changes since the $10-$15 range (besides the pumps), for example: Major retailer adoption, Major VC investments, ETF's and OTC funds. Obviously these changes must add some value to btc and by my math its good for a gain between 7-10x from the stable pre craziness phase of $10-$15.


I've got buys set from $80- $160 because in my heart of hearts I believe we'll hit that before we can build a new uptrend.

I really gotta say that I'm quite sure that there are more than enough people willing to buy at $80, he'll even at $100 before we go that low. I respect your analysis but have to disagree wholeheartedly...