Quote from: rdyoung on April 28, 2014, 03:08:26 PM

Quote from: mikemikemike on April 28, 2014, 01:40:20 PM

Quote from: spartan82 on April 28, 2014, 01:38:58 PM

Quote from: mikemikemike on April 28, 2014, 01:35:02 PM

Quote from: spartan82 on April 28, 2014, 01:29:13 PM

Quote from: mikemikemike on April 28, 2014, 01:14:55 PM

Quote from: spartan82 on April 28, 2014, 01:08:20 PM

During these next couple of months when asicminer is converting anywhere between $5-10MILLION US into BTC for 400,000 shareholders dividends from 10.9million GH of chip sales I dare say we will surpass the $500 BTC mark and start rising a bit again. As people see a bit of a spike in bitcoin price from the large buys, I'm sure they will follow suit and drive it up too.

Sorry dude, but the amount of money being pumped in means very little compared to the price psychology. You could pump in tens of millions but if the market thinks the price should be less than it currently is, then the price is going down. just like technology the price of BTC follows a very specific adoption cycle, a cycle that hasn't been broken for the last few years and has been confirmed time after time it will still carry on for atleast one more big pump and dump. we will see $2000 BTC before November easy without a doubt. it will be back in all the papers saying OMG look at bitcoin, then a couple months later everyone will be raving about its death, AGAIN. this cycle will carry on going until we have stability, but stability won't happen until major adoption.

also, dude, tens of millions is small money compared to whats about to happen with wallstreet. when second-market comes online and so do the ETF's, that ten million will look allot like the earth compared to saturn or jupiter.

I hear what you're saying, I haven't really been following any news about Wall Street myself so ill take your word for it, but looking at the charts as they stand right now that amount of money would move the market I'm sure. At current exchange rate of $430 per btc, say $0.5 average per GH that pretty much means well over 12000BTC. Around 10% of all BTC floating around that has been mined so far, not taking into account what has been lost and never to be seen again. I dunno, I never took on economics but I truly think that's going to bump the prices up at least another $100-200.. Kind of wish I did major in economics I'd be so much better at this lol.. If you are right about btc reaching $2000 by end of this year ill be a VERY happy man

your going to be a VERY happy man. $2000 is about as conservative as it gets. if you run the numbers we should see $4000-$5000 before a drop down to the $1000-1200 range. check the graph i posted above. these cycles are about as a predictable as it gets. the ONLY things, and its the ONLY things that would stop this, would be a 51% attack or FINCEN killing the industry. both of these are extremely unlikely.

Only time will tell.. I realized I made a huge error in my last post I calculated 12000btc as 10% of bitcoin out there, it's only 1%. Not merely enough to move the market that much, it's way past my bedtime. My bad lol

lol. only time will tell, but number's dont lie, either do adoption cycles. sleep well dude, ive only just woke up from a 14 hour sleep myself Grin

Technical analysis can only take you so far with BTC at the moment.
It is not a stock or commodity with a fixed # of shares on the market, the # of BTC available for trade is growing every 10minutes or so, not to mention the folks who are saving it juxtaposed with those who are selling it as they acquire it.

There is a lot of positive happening in the crypto space that easily outweigh the technicals. The biggest one so far is the following.

http://online.wsj.com/news/articles/SB10001424052702304049904579518224044905190?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304049904579518224044905190.html

For those who cant get past the paywall.

New York-based bitcoin trading platform Atlas ATS is partnering with a small U.S. stock exchange to expedite a regulatory approval process that has stymied the development of digital-currency exchanges in the U.S.

Under an agreement to be announced Wednesday, the National Stock Exchange, which is owned by the CBOE Holdings, CBOE +1.33% Inc. and is recognized by the Securities and Exchange Commission as a self-regulatory organization, or SRO, will write and enforce the rules governing how Atlas's exchange functions.

Once the two parties have agreed to those rules and surveillance procedures, Atlas will become the first bitcoin marketplace to be regulated by a "quasi-government entity," Atlas Chief Executive Officer Shawn Solves said.

That should mean it can bypass the time-consuming process currently confronting other budding bitcoin exchanges, such as Kraken and CoinMkt, both of San Francisco.

Those other exchanges have been forced to seek money-transmitting licenses from nearly all 50 U.S. states following instructions provided in October by the Treasury Department's Financial Crimes Enforcement Network, or FinCEN. In that guidance, FinCEN said federally regulated entities would be exempt from those requirements.

It isn't clear how the SEC, which doesn't regulate bitcoin, might respond to Atlas's use of the National Stock Exchange's SRO status to earn this exemption. The SEC declined to comment for this article.

In a statement, Atlas said its rule book would be based on SEC-approved rules used by U.S. stock and option exchanges. These establish requirements for record books, the segregation of customer accounts, security of assets and other standards.

For the all-electronic National Stock Exchange, or NSX, the move could deliver a new source of revenue and relevancy in an industry increasingly dominated by far bigger exchanges such as IntercontinentalExchange ICE +1.62% Group and its NYSE-Euronext unit and Nasdaq OMX NDAQ +3.21% Group.

NSX traces its roots to the Cincinnati Stock Exchange, founded in the 1880s. The NSX so far this month has averaged just 0.2% of daily stock-trading volume in the U.S., according to data provided by BATS Global Markets Inc., a competitor to NSX.

An NSX president, Francis Corcoran, declined to comment.

Atlas's Chairman, William Karsh, is currently listed as a special adviser to the NSX. He said the decision to work with Atlas was made entirely by NSX Chairman and CEO David Harris. "I was instrumental in explaining what the industry around virtual currencies was all about, but that's about the extent of my involvement," Mr. Karsh said.

Atlas functions like an automated bitcoin trading system, providing rapid-fire, anonymous matching services for clients such as high-frequency trading firms, though it isn't formally regulated as an ATS by the SEC. Atlas also offers a public exchange where prices are broadcast to all market participants.

Launched last month with links to sister exchanges in Hong Kong and Singapore, the marketplace is currently processing 7,000 to 10,000 transactions a day while the public exchange is handling volume of just 100 to 1,000 trades a day, Mr. Solves said.

Atlas's launch coincides with efforts by other Wall Street-connected firms, such as private exchange SecondMarket Inc., to develop robust, high-tech and regulated bitcoin exchanges for professional investors. These are presented as alternatives to the Internet-based offshore retail exchanges that currently dominate digital-currency trading and whose vulnerabilities were highlighted by the collapse of Tokyo-based Mt. Gox in February.

Bitcoin's price soared to a peak of $1,145 in early December. However, it has since fallen below $500, according to a Coindesk index, following a string of negative developments, including the Mt. Gox bankruptcy.

I agree with what you saying about TA, but I'm talking consumer adoption cycles in technologies, these are usually the long-term fundamentials why TA usually sits ontop of those fundamentals to give a day-to-day outlook of the market. New or no news. The market will follow these psychological cycles as they have done for the past few years and will continue to do so until mass awareness