Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
This is crazy guys, this rise is parabolic. Don't you think it need to come back down and floor out.
Like how high can it possibly go before crashing? I think its now so I sold all my btc besides a few for investing with and I'll buyback in at $800 in a month from now.
Like how high can it possibly go before crashing? I think its now so I sold all my btc besides a few for investing with and I'll buyback in at $800 in a month from now.
Unless, of course, we never see $800 again
That's very possible too but I think its likely to happen. What's your take?
This just feels so much like 2013. Back then, "there had been an ATH of $266 which had hung around for a while, until the bull run which eventually broke through it and took us to the current ATH of $1175. That was a rise in the ATH of 442%. If the current ATH were to break through this time, and rise by the same percentage, that would lead to a new ATH of $5194" [pasted from my post a few days ago].
On the other hand (even though I don't really think TA works too well with btc), we could be seeing a classic cup and handle pattern forming between Nov.2013 and now: http://www.investopedia.com/terms/c/cupandhandle.asp In which case, we could expect to see the price go up to c.$1175, then drop to between 30% and 50% of that ($587 to $820 ) as traders begin to doubt whether the ATH will be broken. Then a bounce back to beyond $1175.
In other words, I think it'll reach $1175, then it could go up or down
What is the real ath, technically and psychologically? I guess Gox ath is the ultimate test, since coins did change hands at that price.