Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
macsga
on 12/12/2013, 09:14:11 UTC
A.  Incredibly bullish news spurns the market upward suddenly forcing the money on the sidelines back in causing a new huge rally.  

B. The market consolidates where it is (around $900) for 1-4/5 weeks. This would be the most bullish scenario and would be similar to the consolidation around $120-$130 a few months ago.

C. The market ebbs sideways and downward over the holidays as the holiday season wins the news cycles and people hold off on investing and sending more funds to markets.  In this scenario, we DO NOT reach another low past the $600ish already established. This would be very similar to the April rally where people expected it to test the low of $50s but it only got to $66, because everyone wanted to buy low.

I think C is most likely given the holidays. We will trend sideways to down, we will start a slow upswing sometime before $600. Somewhere from Dec. 30th to Jan. 31st that upswing will gain momentum and by sometime in February we will be in full fledge rally mode again. I also think this scenario could happen before February as well.

I really think (and hope) that the 2nd scenario is the most probable. Anyway I'm not giving up my coins even if the price falls lower than 600. I believe that most here think the same way even if they are partialy BTC/Fiat.