Quote from: r0ach on January 16, 2016, 09:03:01 PM

Quote from: unent on January 16, 2016, 08:47:25 PM

Quote from: r0ach on January 14, 2016, 06:04:28 PM

I don't see it going to $350 under any circumstance.

For the record, do you see it going below $350 now?

Do you think there's the slightest possibility of that with the combination of Bitcoin Classic hardfork, Cryptsy, and Mike Hearn? I don't believe TA works with all the manipulation that goes on in a market as thin as Bitcoin's. Manipulation and the power of events to affect the market make TA useless.

The quote I made about 360 being the bottom was speaking solely about the uptrend running out of fuel and having a correction from too many people being overleveraged with no more upside potential to look forware to in the short term. That quote wasn't taking anything about the classic hard fork occurring into account because nobody knows when it will happen yet. The fork will likely temporarily dump Bitcoin to lower than cost of production, then raise much higher after it's all over with. Since it seems to be coming relatively soon, I just don't see a reason to stay in the market until it's priced in unless you think the world economic system will collapse before it happens.

I can't imagine the hard fork not bringing coin price temporarily to something like $320, and that's the good-case scenario where all exchanges switch to the 2MB fork. If something like only half of exchanges switch, there will be a bloodbath. That's why they should probably try and get all exchanges intentions in writing before proceeding.

Double digits it is! Gotcha
Seeing that cost of production is in the middle $100's and they are making a killing at current prices, sounds quite plausible. I'm glad you brought this up