Re: Bitpay just processed its first 1,000,000 USD order, Dump incoming?
The more bears in the forum, the better. 
Golden rule: Bears are bulls that are caught short of their full position. They try to talk the price down. It never works, so they have to buy higher, increasing the price even more in the process.
Read my old post even I growled a week ago in want of $150 coins that never happened. Bought back at $195.
Golden rule: Bears are bulls that are caught short of their full position. They try to talk the price down. It never works, so they have to buy higher, increasing the price even more in the process.
Read my old post even I growled a week ago in want of $150 coins that never happened. Bought back at $195.
We all want it to go up, but its a little arrogant to think we can't go back down. We certainly can. We can go back to <195 or <150 or lower.
Probably not tomorrow, but things could certainly happen.
We would not need to reverse trend down for more than a handful or days or weeks to go below 195 again. And even if this thing goes to 300, we could easily flash crash to <150.
I think we hang out in a $20-$40 range for a bit before testing the ATHs early next year, but that doesn't mean even 2014 want see some days (or hours) under 150.
Last time we broke an ATH, the "bubble" continued to inflate 8 times higher before crashing/correcting...
So we can expect a new ATH somewhere between $1500 and $2500, followed by a crash to "below $500" and a new stable price around $1000...
Just wait and see.
No. This is faulty logic. It assumes that its just as easy to go from $150 to $2500 as it is to go from $15 to $266. This is just not true. The amount of cash into the markets to make this happen is an exponential amount.
It is in fact several times more difficult to have a rise like this. And IF a rise that this occured, it would occur over a MUCH longer period of time. Consider how long a period of time it took the 2000 dot com bubble to build. Months. Actually years.
Of course that bubble was several magnitudes beyond what a BTC climb to 2500 would be, but the point is still the same.
The next "bubble" won't be from here to $2500. Not unless you assume a scenario where there is a slow rise for several months/years that is predicated on no solid fundamentals developing within Bitcoin between now and then.