When will Bitcoin take off again? - page 4.

minerpumpkin

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Quote from: Bonam on September 12, 2014, 11:05:32 AM

Quote from: Barrie Cliff on September 12, 2014, 11:01:12 AM

Adam, could you say more than that ? I would like to understand what you mean.

Market cap is current price per coin times number of coins that exist. But if someone actually tried to sell a significant number of coins, the market price would quickly collapse. The money "holding up LTC" is not equal to its market cap. A better indicator of the money holding up LTC would be how much demand there is for LTC at or near its current pricepoint.

Exactly, the market cap is something people tend to get wrong. There aren't 6 billion USD invested in Bitcoin at the moment. It's less. If someone decided to sell a lot of Bitcoin, the price will go down, yes. I often don't get how people can be so obsessed with the market cap. On the other hand: If you see how much money there is in M1, M2, etc. you can only imagine what will happen if only a percent of that went into Bitcoin...

hannscryo

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It will take off sooner than we expect, hold!

nuff

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It will take off. Just hold. When it takes off you'll know about it

Bonam

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Quote from: Barrie Cliff on September 12, 2014, 11:01:12 AM

Adam, could you say more than that ? I would like to understand what you mean.

Market cap is current price per coin times number of coins that exist. But if someone actually tried to sell a significant number of coins, the market price would quickly collapse. The money "holding up LTC" is not equal to its market cap. A better indicator of the money holding up LTC would be how much demand there is for LTC at or near its current pricepoint.

Barrie Cliff

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Quote from: adamstgBit on September 12, 2014, 10:09:36 AM

Quote from: Wilhelm on September 12, 2014, 10:07:54 AM

Quote from: adamstgBit on September 12, 2014, 10:07:03 AM

Quote from: Wilhelm on September 12, 2014, 10:06:04 AM

Funny that LTC seems to be pushing upwards and BTC isn't yet

how many million dollars are holding up LTC?

$ 171,525,000 (coinmarketcap.com)

approx 2.72% of the marketcap of BTC.

i'm going to let you believe that.

Adam, could you say more than that ? I would like to understand what you mean.

InwardContour

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It's almost impossible to predict when it will rise again, the only thing we can do is howling.

minerpumpkin

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Quote from: lyth0s on September 12, 2014, 04:16:53 AM

Quote from: oaks05 on September 12, 2014, 03:46:45 AM

thanks for that reddit article IMZ makes some valid points, he seems to be dead on which is scary a bit and ZBY ive watched many crypto currencies halve and there is always a rise in price so you are def correct but that wont happen for another 90+ weeks i believe.

I personally don't think it'll take that long for price to continue to uptrend...then again I also didn't think it would take this long for bitcoin price to recover Tongue

I don't know if it will be due to the block-reward halving. It could be, but I rather expect it at some point before that, because it will inherently be priced in by people speculating on Bitcoin's price. They will try to accumulate beforehand, and the actual halving will be boring.

adamstgBit

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Quote from: Wilhelm on September 12, 2014, 10:07:54 AM

Quote from: adamstgBit on September 12, 2014, 10:07:03 AM

Quote from: Wilhelm on September 12, 2014, 10:06:04 AM

Funny that LTC seems to be pushing upwards and BTC isn't yet

how many million dollars are holding up LTC?

$ 171,525,000 (coinmarketcap.com)

approx 2.72% of the marketcap of BTC.

i'm going to let you believe that.

Wilhelm

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Activity: 1652

Merit: 1265

Quote from: adamstgBit on September 12, 2014, 10:07:03 AM

Quote from: Wilhelm on September 12, 2014, 10:06:04 AM

Funny that LTC seems to be pushing upwards and BTC isn't yet

how many million dollars are holding up LTC?

$ 171,525,000 (coinmarketcap.com)

approx 2.72% of the marketcap of BTC.

adamstgBit

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Trusted Bitcoiner

Quote from: Wilhelm on September 12, 2014, 10:06:04 AM

Funny that LTC seems to be pushing upwards and BTC isn't yet

how many million dollars are holding up LTC?

Wilhelm

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Funny that LTC seems to be pushing upwards and BTC isn't yet

hellscabane

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Hell, no one really knows. It seems we're in a steady downtrend for now. I'm still of the opinion that another breakout won't happen in the short-term (i.e. 2-3 months). Both daily and weekly volatility measures still have bitcoin decreasing in price during "larger" movement days, and until this changes, I don't see another breakout.

But despite what I just said, how about December 13, 2014? It's 12-13-14. Yay, consecutive numbers! And it's one day out of my short-term predictions...So there.

Miz4r

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February 2015.

cloverme

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SpacePirate.io

I'm not sure that we will see another jump anytime soon. I think Bitcoin had more financial value as an "underground" or "secretive" trade currency, it was also somewhat difficult to get, adding a certain rarity to it. Those who had it or mined it were looked at as being on the inside track of something. While bitcoin is still considerably valuable, it seems the more accessible, acceptable, and public it becomes it loses more value over time. If it is going to be truly viewed as a commodity or an asset other than currency, I think that only rarity will give it more value or a use case that cash/fiat cannot provide to give it a 10x or higher value over the dollar. We don't diamond chips to pay for a loaf of bread, but high grade diamonds are used for high value luxury, high value trade, or illicit trade. I think bitcoin could be used for high value trade and illicit trade to give it increased value, but it's use case to buy low value goods I think may detract from using it for high value trade for now.

picolo

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2015!! We consolidated the price and grew healthier in 2014 so we will be ready for a rally in 2015

Paashaas

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End 2014 ore somewhere in 2015. 2016 will be a new pump at the next-halving.

Dalmar

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Life is short, practice empathy in your life

In 2016 briefly after the next halving the next huge pump will commence.

azguard

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Crypto-News.net: News from Crypto World

This one will be final announcement from eBay and PayPal.

Think that this will maybe trigger next jump or some other country collapsing.

tabnloz

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The rash of good news lately should translate to increased adoption in a few months, the thought being that it takes a few exposures to BTC info and then the process of setting up accounts before buying. So, my money is on early next year.

lyth0s

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Quote from: oaks05 on September 12, 2014, 03:46:45 AM

thanks for that reddit article IMZ makes some valid points, he seems to be dead on which is scary a bit and ZBY ive watched many crypto currencies halve and there is always a rise in price so you are def correct but that wont happen for another 90+ weeks i believe.

I personally don't think it'll take that long for price to continue to uptrend...then again I also didn't think it would take this long for bitcoin price to recover Tongue

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