Quote from: BitChick on October 31, 2013, 03:10:06 PM

Quote from: Vladimir on October 31, 2013, 11:40:38 AM

Quote from: Vladimir on August 31, 2013, 11:59:07 AM

We are on the verge of panic buying and seller strikes. Once price breaks 170$, which could be next week, the bulls will go berserk and all those who hoped to buy once it crashes will surrender and buy back at loss.

I know lots of long time Bitcoin bulls who are patiently waiting for a crash with loads of fiat. I know too many of those temporarily bearish bulls. I do not think that their strategy will be profitable. Too many people are waiting with fiat to pick up cheap coins. It will not happen this time. They will have to buy back at a higher price.

Look at the daily chart right now. Only during 11 days ever the price was higher than it is now. Only during 5 days the price was above 141$ for most of the day and the the volume during those days was rather mediocre. On the other hand, days that marked bottom prices had huge volume. Everyone, but those who sold coins any day other than those 11, above 141$, with intention to buy back (and still has not bought), is being hurt now. Emotions are starting to boil. It is kind of prisoner dilemma for them.

Expect a bunch of elephants to try to squeeze into Bitcoin room via a tiny door of roughly 50-100kBTC available on sale at a price below of the all time high 266$. Buy popcorn. September and October will be eventful.

and here we find ourselves more than 60% above the pre September levels

told ya so

... meanwhile loads of smallish hippos are incoming and will try to buy their fractions of bitcoins. November and December will be eventful too ;-)

In the past Decemeber has flatlined, perhaps because people pull money out for travel, Christmas/Hanukkah gifts etc. I was thinking that would happen this year as well but perhaps it would be best not to bank on that?

I tend to buy bitcoin (in Casascius coin form) around the holidays to give away as gifts.