Topic: Will BTC stay above 500 for now? (Read 1971 times)

Will definitely go below again, maybe this weekend only.

Think Bitcoin will remain around 400-600 for quite some times now.

No, also some 200k were supposedly found - but these, too, nobody saw. Might all be Karpeles hallucination. It was more or less proven that nobody stolen any coins from gox using malleability issue, so whatever happened and wherever our funds are is still a question that only masterfully applied torture could answer.

That depends on how long a piece of string is.

We have had the stability you seek so much, btc stably decreasing from January 2014 up to a couple days ago. It looks like we have just entered the reversal and it's cycling back up to the historical trendline. I just hope it continues but I KNOW it will have lots of ups and downs in the coming days/weeks/months. At the end, it will all be good, I promise.

If we do have a period of stability the most likely possibility, given how Bitcoin works and has worked, is that after any significant period of relative stability (weeks-ish) uptrend rarely stays mild.

I honestly think that if you're waiting for Bitcoin to be mild at all - you will likely be waiting 7-10 years at the least.

Hi Mat, as a newcomer - waiting to buy since this January - I think you are making a very good point here. To bring more new people like myself we do not need only a bottom - actually, I am not even trying to buy at the bottom . What we need is horizontal stabilization, with a mild uptrend. Flash crashes followed by flash rebounds on minimal volume are not particularly enticing. At least to people like me, who approach it as investing rather than buying lottery tickets and have modest expectations in terms of profit that late in the game.

But is it though?

I see a whole lot of euphoria but am having trouble identifying where all the new adopters are. Could it be that this break out has been triggered by the same old fratnernity of pre-existing Bitcoin investors and shark manipulators? If so, then for how much longer can Bitcoin continue to go vertical. Taking a long punt a few days ago would have been a class trade. Taking a long yesterday when Bitcoin was already in high $400s would have taken a lot of faith in Bitcoin, but would also have turned out to be a class trade. Going long now would be fucking insanity and who knows, may still even turn out to be a class trade......but having just made the worst trade of my life, I cannot allow myself to move a muscle regarding any Bitcoin investment, which in the distant future, will only be of the long and holding variety. Any move I make at the moment, is bound to be the wrong one, so I aint making any move. There wasn't a single Bitcoin trade that I have made, where had I shown patience and held onto my position, need I have taken a loss on. Unfortunately for me I chose my latest and final trade to exercise patience and extreme risk tolerance in the face of common sense. Had I not came out trade yesterday at $512 (where Bitcoin happens to be right about now), then my whole Bitfinex trading account sum would have been liquidised at $546.65, as Bitcoin hit $548. The fact that I chose this point to finally 'grow a pair of balls' has got to be the universe telling me something about myself and what I should or rather shouldn't be doing.

I am not touching Bitcoin with a 10ft long shitty bargepole. Perhaps you have indeed read "Trading in the Zone"? My psychological phase will no doubt be well documented. With that in mind, how many more do you think they are, bear and bull alike who are thinking just like me? How many more have taken big enough hits in Bitcoin to realise that they need to keep the fuck away from it? If us Bitcoin shell shock victims are going to return to Bitcoin, are we going to do it whilst Bitcoin is doing vertical zig-zags? Volatility like this gives successful traders profits but scares many more people away from the market and entices nobody new into it which can only mean one thing. I think you will find that after every bottoming out event Bitcoin has trended for a period of time necessary to breath confidence into new investors that their capital isn't just going to vanish overnight. So far, Bitcoin has not done that post Dec 2013. Bitcoin needs to find a bottom, and grind for a period of time. The waves needs to be calm to encourage new capital in.

Edit: In the period of time it took me to write this, it looks as though we have just had our reversal. Record volume (since $340 bottom) taking Bitcoin from $548 to $510. How many latecomers to the 'rocket 2 da moon' have just had their fingers burned? How many bagholders who failed to cut their losses are now freaking out that Bitcoin is going back down? How many early ticket buyers of the price surge aren't or haven't already cashed out and how many of those will be willing to buy back in with just about every TA indicator now maxed out? Is there a chapter in Trading in the Zone about how vertical counter trend rises are unsustainable and invariably followed by more bearish grinding and downside?

my buyzone is ~400$, my target is around 700$, i think thats the point to take some profits. when you are all in crypto, you want to reduce your risk by taking some profit and reduce your average price per btc. at least thats what i do. gonna sell around 30-50% there.

so i am confident that we can reach near 700 this or next month. when this happens i am preparing for plan b if the rally doesnt continue to a new ath.

whats your plan?

Just about I think but expect upside to be limited as well for the moment

Is there any evidence that any of these coins have actually hit exchanges?

The Gox scandal involved more than 850,000 coins. That is almost 7% of the coins in circulation. If Bitcoin is capable of surviving it by stabilizing at 500+ levels, then we can be pretty much sure that the value will never go below that.

..lolz ...its all good

I think you should read a good book called "trading in the zone"

You need a dose of the "PSYCHOLOGY of TRading "

Its not about being right or wrong ...but more about defining your risk and adapting as soon as information says there has been a change

 

True test will be at $540.

If it goes beyond there and holds then I will be be damned....still won't take a position though. Have no faith in the whole NSA created vaporous pile of shit at the moment

I am on board, have been on board. I have alot riding on its success. Even recently I was able to get a handful at the price of $350. I am ever hopeful for its progression, not because I have so much invested whether it be time or money, but because of the system itself. But considering one fasle article can hinder progression, three false articales can cripple it. One event can cause alot of harm; the possibility of this is high.

Prediction is built on hope from the people on this forum who are in need to get their money back or turn a quick buck.

You want the price to rise, invest in the infastructure any way you can. No one will trust the system with limited infastructure. This is the phase we in right now. This causes the biggest change to bitcoin price and until we have a solid or even close to solid foundation to stand on it will continue to go the way it has for the last three years.

+ 100 Agreed ...lolz

Matt you always say you are a shocking trader then ..for once listen to teh XP of others ...or dont lolz

WHatTheFuckEver

After 3 of these i know when the train/rocket has left the station so get on board or be left behind 

This is speculation, not prediction. The power for it to rise is in the hands of those who invest. Sadly, the people here are the ones who hold.

If Matt says there's no way it's going up, I'm buying!

hpe you're right Hyena, though I'm still tempted to buy more before it rises (if it rises that is  )

Looking at the last dead cat bounces, if we don't drop hard soon the last 4 month downtrend might be over.