Quote from: rtrtcrypto on July 02, 2016, 08:16:37 PM

Why do you (and others) feel so strongly about the breaking mid-800s = 3k+?
In your mind, once we see 875 we will quickly see 2.5k+? Can you unpack that more?

Quote from: JayJuanGee on July 02, 2016, 08:10:23 PM

Quote from: Tzupy on July 02, 2016, 04:25:20 PM

Bitcoin looks broken:
http://www.coindesk.com/controlling-perception-bitcoin-broken/

The article is nearly pure nonsense because the actual facts, including the price breaking strongly (and seemingly irreverseably) above $500 speak loudly and convincingly that people are buying bitcoins and the ones that matter (those buying) do not perceive bitcoin to be broken... otherwise they would not be paying more than $500 and then more than $600 and then more than $700 per coin..

So, yeah, hard to convince people when we cannot get BTC prices back into the $400s.. and even the $400s was not a bad place to be, after BTC prices had been in the $200s for nearly a year.

But, yeah, Tzupy start preparing your bear ass for continued upwards price movements, and you must realize that there is some chance that we are going to have continued resistance in the upper $700s and also in the $800s, but seems likely that if we clearly get past the mid $800s, we are going to need to brace ourselves for the $3k plus price territories.

I think that I kind of outlined my thinking in my above post, but I think that the main idea is regarding momentum and market psychology. Surely, none of these kinds of outcomes are inevitable because we are still dealing with a lot of unknowns, including human behavior and even attempts at manipulative behavior. So, even though it may sound as if some folks, including myself, are talking in terms of absolutes, many of us are likely speaking in terms of probabilities, but just using linguistic short-cuts to appear as if we are talking in absolutes.

Actually there are a few folks who do talk in terms of absolutes and math, like as if certain price points are inevitable, and I am not one of those folks, even though sometimes my language may be a little sloppy in appearing to put me in that camp.