We're WAY too CONFIDENT about the current BTC Price. See picture in topic. - page 3.

haightst

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Quote from: hieroglyph on November 15, 2013, 08:29:07 PM

I don't see how the current bitcoin prices and tulip mania are even slightly similar. Bitcoin has real value and the tulips value was in the eye of the beholder.

I've read and article posted in the forum about Yahoo investing into BTC and China adopting BTC recently which for me is pretty bullish. Not saying the price is where is should be cause I really don't have the TA skills to say but I wouldn't compare it to tulip mania one bit.

hey now tulips are useful! I'm a horticulturist i love tulips and bitcoins!!! Tulips reached the same price as gold if not higher~ I think /\BTC will go 1200+ very soon! *jmho!* Wink

haightst

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Quote from: maursader on November 09, 2013, 01:37:05 AM

Here's the char for the last running 12 months... ending with this month so far:

I'd like to point out the bubble that burst back in april. It didn't just fall from $266 to $200... it literally tanked. Now I'd like to draw your attention to the right side of this chart... see something similar?

Yep. If you're dealt with bitcoins for a long time, you'll know that history has repeated itself in the past with bitcoin (Remember the first time it hit $28?? haha.. yeah we were all shocked.)

Anyway, be very very very careful.

i noticed we are blasting through 500 like a bump in the road! LOL Cheesy

perlboy

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Quote from: ex-trader on November 16, 2013, 06:23:02 AM

I always love Apple vs Bitcoin comparisons, so utterly stupid.

You know my post was an attempt at satire right?

I was simply trying to point out the silliness of drawing a graph on a linear scale.

ex-trader

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Quote from: perlboy on November 16, 2013, 05:27:55 AM

Hey Look, I found another 'bubble', all I had to do was use a linear graph:

I always love Apple vs Bitcoin comparisons, so utterly stupid.

One is a company who has progressively sold more and more products and generated growing real cash profits. The other is a currency basically being bought entirely for speculation, with a small amount of it being actually used for real transactions but that no-one can actually quantify.

perlboy

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Hey Look, I found another 'bubble', all I had to do was use a linear graph:

hieroglyph

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I don't see how the current bitcoin prices and tulip mania are even slightly similar. Bitcoin has real value and the tulips value was in the eye of the beholder.

I've read and article posted in the forum about Yahoo investing into BTC and China adopting BTC recently which for me is pretty bullish. Not saying the price is where is should be cause I really don't have the TA skills to say but I wouldn't compare it to tulip mania one bit.

Sitarow

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Quote from: maursader on November 09, 2013, 03:31:23 AM

Quote from: calian on November 09, 2013, 02:42:56 AM

Quote from: maursader on November 09, 2013, 01:54:26 AM

True. It may be too soon to say, but, I sold today at $360 and it's dropped to about ~$339 soon after.

So you sold on gox? I was wondering who still did that.

No, I'm using gox's chart as a standard. I use Cavirtex.com to trade.

Was it you who sold into the 350 bid wals yesterday morning on VirtEx?
Good call but your buy back in at around $330 instead of $290 shows you still feel that BTC true value vs usd is on the rise.

deisik

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English ⬄ Russian Translation Services

Quote from: maursader on November 09, 2013, 01:37:05 AM

I'd like to point out the bubble that burst back in april. It didn't just fall from $266 to $200... it literally tanked. Now I'd like to draw your attention to the right side of this chart... see something similar?

It doesn't look like a bubble at all, rather a price spike carefully managed and operated (for sure, somebody earned a huge deal of money)

Pruden

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Spanish Bitcoin trader

To me, this is like 5-10 March. Early month, first big correction after huge growth as a consequence of breaking the ATH. Turns out, BTC never went back to 47$ after that.

Oh, and get ready for a fork next week.

laowai80

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Ok, I know I suck at graphics editing, but I hope I can get my point across.
See the similarities between the point in time where the black arrow is pointing (end of March) and current price pattern? Only this time the scale (both price and time period) is different, pattern is similar to middle of March - end of March, which suggests the price still can at least double from current ~300, but then could also fall back into 200-300 region.

rampantparanoia

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Quote from: zhangweiwu on November 09, 2013, 11:35:12 AM

Quote from: maursader on November 09, 2013, 01:38:38 AM

Same chart, with red circles:

What in the circles are quite different. papaminer outlined it with the blue circle.

In the April case, the price go straight up, and experienced a reversal when it crash down. In the current case, the trend is the opposite, the upward trend went through a reversal for a few days before it continues to the top - for some speculators, it is a Fibonacci retracement, which is a clear signal to position long and expect continues growth - I didn't buy the Fabonacci concept, but only to show that it is NOT the same.

http://www.swing-trade-stocks.com/fibonacci-retracements.html

Likely.

hieroglyph

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I'd say there is much more room to go up before we hit the ceiling for the current bitcoin price. I do understand where the OP is coming from bur I'd say there are many factors to consider and the main one for me is that Bitcoin is global and many people will want to get a piece of the limited pie.

hamiltino

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P2P The Planet!

Well i failed :/

pera

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バカ

Quote from: hamiltino on November 09, 2013, 10:01:04 PM

I know whats going on.

It will not go below 300 and it will continue to rise within a short period of time. Lets say within 1 month.

bitstamp is 290..

hamiltino

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P2P The Planet!

I know whats going on.

It will not go below 300 and it will continue to rise within a short period of time. Lets say within 1 month.

Xer0

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°^°

1. BTC takes off, bubble forms
2. Gox screws it - panic
3. we try again
4. Gox cant gox it this time
5. we're gettin higher and higher and i forgot how that song goes on

maursader

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Disrupt the banking system!

It dropped yet again

piramida

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Borsche

Quote from: btceic on November 09, 2013, 11:45:43 AM

My concern is the very light volume on new highs

Really? What is the source of your data? Volume is greater than during the spring run - in BTC - much greater in USD - so I guess your concern is actually about a non-existing issue.

btceic

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♫ A wave came crashing like a fist to the jaw ♫

My concern is the very light volume on new highs, to me this suggests that the new buys/highs are into weak hands. Not that I want a correction but I am expecting one... soon.

Coinseeker

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Quote from: maursader on November 09, 2013, 11:26:18 AM

Quote from: Coinseeker on November 09, 2013, 10:22:18 AM

OP you are right to be concerned. Everyone with common sense is concerned. This is not normal, natural or healthy "growth". This is not a rally based on long term utility or any specific adoption, this is a fear based rally as people are afraid they're going to "miss the boat". Numbers don't lie and this is nothing more than pure impulse buying. I'm sure enjoying it, I love the value my BTC is worth but stepping back from all that, there is nothing sustainable about this. It is hysteria and when that hysteria fades, there are going to be ALOT of broken hearted bag holders.

I just hope that this isn't a massive pump and dump by the Asian markets, you know?

It may feel like that when it finally does give way, but I think its just "Bitcoin mania". Like beenie babies, tulip bulbs, etc. The hysteria will eventually subside, we'll correct and numbers more consistent with actual adoption, utility and yes speculation will establish themselves. Panic and mega crashes have a way of bringing people back to reality real quick. Grin

Really exciting I will say that.

Topic: We're WAY too CONFIDENT about the current BTC Price. See picture in topic. - page 3. (Read 9416 times)