Quote from: JayJuanGee on March 04, 2014, 04:00:43 PM

Quote from: rpietila, the Vassal of the Mighty Goat on March 04, 2014, 03:09:56 PM

Quote from: joburgtaxi on March 04, 2014, 02:41:47 PM

Rpietila, I am keen to hear what your predictions are for the next week or so ?

I cannot predict such short timespans.

The biggest market mover is the people who thought they had bitcoins in Mt.Gox. When they replace (which I believe is going on), the price can rise a lot. We are talking about 100,000s of coins of extra demand.

That seems to be a pretty wimpy explanation... NO HATING... but it remains fairly unclear the extent that Mt. Gox coinholders are going to replace their coins, though possibly, they may replace a fraction of their coins - if they have fiat to accomplish such replacement.

There seems to be a lot more going on in the bitcoin sphere that will be driving up demand for bitcoin, besides the potential replacement of GOX coins. First is that we have a greater clarification of the GOX situation and Second, there has been a lot of BTC network building over the last several months - creating a sort of pent up demand... - fiat waiting on the sidelines b/c of China in December and January and then GOX in February.

In other words, we are likely bound for choo choo territory... first to the 800 to 1000 arena within the next week or two, and then maybe after lingering in the 800-1000 arena for a few months later, with the next 3 months or so the $1500 plus arena....

I think we might top out at $800 and then drop down once more to the $500 level before a long upward trend to an ATH.