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My guess is that hedge fund money is accumulating and positioning for a drive to $10k/BTC once the ETFs are live.You will see the log charts all over the media guaranteeing $10k per coin based on previous bubbles.Retail investors will throw a few bucks into the ETFs and it will become a self-fulfilling prophecy.Next leg up to $100k will be retail + institutional + sovereign wealth trying to jump on the train, say 2-3 years.By then BTS will be mature, investors will have gotten a taste of crypto-riches and the moon rocket will launch.5 years BTC could be $100k and BTS could be $100.
Agree completely! The ride to $1 is going to be interesting.This trillion-dollar-pie-in-the sky speculation can provide useful perspective.To the crypto community a market cap in the billions or tens of billions seems enormous.In the fiat world billions are nearly trivial when it comes to asset classes and investment vehicles.I believe folks are going to be stunned when a crypto really catches on; there is just so much liquid wealth sloshing around right now, looking for yield. Give it a place to park and look out.
I'll be convinced it can reach 100$/BTS the day I'll see BTS talked about on every financial channels on TV as the new way to do smart banking, and when traditional banks try to shut BTS down with some lobbying to legislators because they feel threatened.We're a long way to even get 1$/BTS, which is 50 times more than the current value.We need to start crawling before running. We should manage our expectations a little...
So much for all the excitement about walls. Its back to 0.123 CNYShould've held onto some BTC to buy now. I started buying around 7.3k sats (ouch!)
Quote from: OldMan on November 12, 2014, 11:33:51 pmMy guess is that hedge fund money is accumulating and positioning for a drive to $10k/BTC once the ETFs are live.You will see the log charts all over the media guaranteeing $10k per coin based on previous bubbles.Retail investors will throw a few bucks into the ETFs and it will become a self-fulfilling prophecy.Next leg up to $100k will be retail + institutional + sovereign wealth trying to jump on the train, say 2-3 years.By then BTS will be mature, investors will have gotten a taste of crypto-riches and the moon rocket will launch.5 years BTC could be $100k and BTS could be $100.My chart is telling me your numbers are at crack smoking levels
Only problem is bts btc is not climbing... Its severly oversold.. I wanted it to be around 8k satoshi or so.. Putting us around 0.22-0.25 cny
Quote from: jsidhu on November 13, 2014, 01:09:59 amI expect a big buyer to step into bts any moment..I hope so! Someone needs to eat the 1.3 million sell wall at .128 CNY.
I expect a big buyer to step into bts any moment..
Quote from: Ander on November 13, 2014, 03:33:32 amWALL IS DOWN!Niiiiiiiiiiice
WALL IS DOWN!
this summer
Quote from: jsidhu on November 12, 2014, 06:41:05 pmI expected this.. now it is to be seen how bitshares reacts.. so far its been bad... bitshares losing ground to bitcoin.. now the real test is when bitcoin ranges or falls does bitshares recover? We need to see bitshares OUTPERFORM bitcoin at these low risk:reward areas of bitshares... because if it doesn't to me, my bull targets may not be met in my expected timeline. I expect bitshares to rise when bitcoin settles, but how much is to be seen.Relax. Bitcoin is a rising tide that will lift all 2.0 boats in the long term. Give it time. The rerise of Bitcoin is healthy for the entire crypto industry.
I expected this.. now it is to be seen how bitshares reacts.. so far its been bad... bitshares losing ground to bitcoin.. now the real test is when bitcoin ranges or falls does bitshares recover? We need to see bitshares OUTPERFORM bitcoin at these low risk:reward areas of bitshares... because if it doesn't to me, my bull targets may not be met in my expected timeline. I expect bitshares to rise when bitcoin settles, but how much is to be seen.
Quote from: donkeypong on November 12, 2014, 06:58:11 pmBitShares IS the next big thing.Only if we are fast. Otherwise something else (Counterparty?) is the next big thing.
BitShares IS the next big thing.
Quote from: OldMan on November 12, 2014, 11:33:51 pmMy guess is that hedge fund money is accumulating and positioning for a drive to $10k/BTC once the ETFs are live.You will see the log charts all over the media guaranteeing $10k per coin based on previous bubbles.Retail investors will throw a few bucks into the ETFs and it will become a self-fulfilling prophecy.Next leg up to $100k will be retail + institutional + sovereign wealth trying to jump on the train, say 2-3 years.By then BTS will be mature, investors will have gotten a taste of crypto-riches and the moon rocket will launch.5 years BTC could be $100k and BTS could be $100.That's too good to be true Historically, all financial bubbles didn't live for longer than a few years. Bitcoin doesn't have enough utility to justify such valuations, it's basically a ZX Spectrum computer in a growing PC market. If the price goes high enough, it will be easier for speculators to profit from shorting than from pumping it further. Actually, I do want BTC to go to ATH again, it would indeed spread the "taste of crypto-riches" and helped other crypto projects, including Bitshares. I just don't see it happening...
Quote from: busygin on November 12, 2014, 10:59:47 pmBitcoin has about 3000BTC/day selling pressure from mining, so it's a matter of time when it takes over the flow of new money willing to buy. At $400 BTC needs about $1.2M per day of new money just to maintain the price (and "per day" includes all weekends and holidays around the globe!) Is there a really stable organic fiat inflow into bitcoin of this magnitude? I highly doubt. Wait a few weeks and the downtrend will resume.Not everyone sells... in general aslong as volume is atleast $12M price is sustainable at that price. That is my general rule of thumb.
Bitcoin has about 3000BTC/day selling pressure from mining, so it's a matter of time when it takes over the flow of new money willing to buy. At $400 BTC needs about $1.2M per day of new money just to maintain the price (and "per day" includes all weekends and holidays around the globe!) Is there a really stable organic fiat inflow into bitcoin of this magnitude? I highly doubt. Wait a few weeks and the downtrend will resume.
Quote Is there a really stable organic fiat inflow into bitcoin of this magnitude? I highly doubt. Wait a few weeks and the downtrend will resume.I believe there is (at this 400 level). Things have turned and they are now going to hype it up into a new bubble. The massive money inflow will be able to absorb the mining coins for a while.
Is there a really stable organic fiat inflow into bitcoin of this magnitude? I highly doubt. Wait a few weeks and the downtrend will resume.
Quote from: jsidhu on November 12, 2014, 10:40:05 pmChessnut has said repeatedly that 3000cny is the med target and then wave V should come after that...Until he changed his primary count today due to this price action.I'm not an elliot wave expert or anything, I'm just following chessnut because he seems very good. If he now says that 275 was the bottom, I now believe 275 was the bottom.
Chessnut has said repeatedly that 3000cny is the med target and then wave V should come after that...
At $400 BTC needs about $1.2M per day of new money just to maintain the price (and "per day" includes all weekends and holidays around the globe!)
It's because Etherium was "ported" to Counterparty.
Quote from: jsidhu on November 12, 2014, 09:46:36 pmWe haven't had a wave V yet. But yea maybe... the seloff in alts seems the same as when it hit $1200.. bts taking a beating.Truncated wave 5 after a blowout wave 3, that was the end of the bear market.I didnt make this count, chessnut on the bitcointalk forum did, but I now believe it after the price action today. I do not think we will return to sub 300 bitcoin. Ever.
We haven't had a wave V yet. But yea maybe... the seloff in alts seems the same as when it hit $1200.. bts taking a beating.
Quote from: matt608 on November 12, 2014, 07:03:40 pmDanV is a technical analysis bitcoin trader who predicted the crash from $680 to $270 and he thinks bitcoin will rise to upper $400s before crashing back to $200s, and then a big rally to $1000, then huge crash.https://www.tradingview.com/v/ovIEXIIE/Any elliot wave chartist who had a bitcoin count that said this was a wave 4 and we are headed to new lows afterwards should have changed their count today, imo. The move today had too much momentum behind it.If that count was to be correct, we shouldve seen a slow rally to 480 over weeks, like the may-june rally. Today the rise moved too fast. This is the action of a new bull market, not a correction, imo.(Unless of course I am wrong. Prior to today I thought we wer probably going to head down in a wave 5 back into the upper 200s but I felt we would make a double bottom or slightly higher low. With the move today I think it all changed and that count is out the window).
DanV is a technical analysis bitcoin trader who predicted the crash from $680 to $270 and he thinks bitcoin will rise to upper $400s before crashing back to $200s, and then a big rally to $1000, then huge crash.https://www.tradingview.com/v/ovIEXIIE/
What is supposed to happen on December 6?
Now considering that this was a period where the BitShares community knew there would be a bit of a lull in BTS(X) anyway, until the user-friendly features and marketing campaign come online, don't you think it's likely a fair number of folks 'invested' spare cash in the Music fundraiser instead? If you injected 1000 BTC into the BTS market cap, that wouldn't magically send it too much higher, but just imagine 1000 BTC worth of buying activity on these exchanges in just over a month and what effect that would have on sellers, market movements, and psychology. The volumes on these exchanges are still quite low overall and amenable to leveraging. Just watch what happens on December 6th.
Quote from: luckybit on November 12, 2014, 06:25:29 pmOctober was not a disaster. The software has been improving the whole time and it's still the same rank on coinmarketcap.I agree with you. Peopel on this forum who understand what is going on agree.But to everyone outside, bitshares is a mess now.That is what we need to fix, quickly, with a marketing campaign to promote a clear message and re-explain to everyone what is going on with bitshares.
October was not a disaster. The software has been improving the whole time and it's still the same rank on coinmarketcap.
Quote from: luckybit on November 12, 2014, 06:11:36 pmWishful thinking to believe our timing can be so good.The softare might not be ready either.Actually I was saying that our timing isnt good, because this is happening and we arent ready yet. We are still recovering from the disastrous october.
Wishful thinking to believe our timing can be so good.The softare might not be ready either.
Quote from: luckybit on November 12, 2014, 06:06:24 pmThis is all true but I'm not so worried about the Bitcoin price. The price is probably going up because law enforcement just confiscated a bunch of coins again which probably were going to be dumped.In a way law enforcement confiscation seems correlated with price increases.That was possibly one trigger, but I think the bear market ended in october and it is starting to rise once again.The question is: can we keep up? Bitcoin could hit new all time highs by the end of the year.This is an opportunity, it means moeny will flow into crypto. We either capture a good part of it with our marketing campaign, or we fall.
This is all true but I'm not so worried about the Bitcoin price. The price is probably going up because law enforcement just confiscated a bunch of coins again which probably were going to be dumped.In a way law enforcement confiscation seems correlated with price increases.
Quote from: Ander on November 12, 2014, 06:02:19 pmSoon: Counterparty #2 crypto, bitcoin to the moon before we even manage to get the marketing campaign off the ground?I shouldve stayed a bitcoin cultist. BTS is rising as well.The 1-day and 12-hour charts suggest that BTC is about to break out of the year-long downtrend:https://www.dropbox.com/s/easu6iafasn0stc/Screenshot%202014-11-12%2008.03.32.png?dl=0If confirmed, you should expect to see quite a lot of new money flowing into bitcoin and all the major 2.0 currencies.This could be a sea change, guys. Hang on.
Soon: Counterparty #2 crypto, bitcoin to the moon before we even manage to get the marketing campaign off the ground?I shouldve stayed a bitcoin cultist.