BitCoin Future Prices

SilverSale

SilverSale

Well-Known Member
Silver Stacker
I'm more of a chart person, and buy when investments appear attractive in the short/medium term.

BitCoin is relatively new to me, and I've taken a position in the low $200's.

Where do others on the forum see future prices for this currency/phenomenon?

Being a totally new form of 'savings' it is a little hard to know how quickly it may or may not catch on...

My thoughts: I think a reasonable chance we'll be over $1000 within 6 months.

I am however prepared to sell early if things go pear shaped - currently, the chart is looking great.
 
It's going to be interesting... Parabolic curves are fun, when you are on the right side of the trade! :)

Still hitting new highs.
 
So where exactly in BitCoin is the current investing cycle?

If you enter now, does it mean you're already too late?

bubble-phases.jpg
 
I watched with amusement a few weeks ago as someone on anx.hk for days on end placed single buy orders for about $20k USD at a time (it's a low volume exchange) and paid way over market rates - paying something like $140 when MtGox was $120 etc. That said, every order they placed was filled and they built a sizeable position.

I'm guessing that's the person who's just placed about a $150k sell order at $300 USD each on the same exchange, and is not very far from the bottom of the asks. Good luck to them if they pull it off - will be $75k profit in a month.

$30 price range in the last 7 hours on MtGox - too volatile to be genuinely used as currency for now - everyone is speculating.
 
willrocks said:
3. China has only just started buying Bitcoin.
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BTCChina volumes are overtaking Mt.Gox USD volume. Soon it will be the largest exchange by volume.

Anything that the investment-hungry Chinese are throwing their money at... I would want to be holding, whether it's gold, Sydney houses or bitcoin. First one I understand and can access, but the price is controlled by Western interests, be it central bankers, London traders, whatever, the second I don't hold, the third - I understand and can access, and the main Western influence is to seize them as proceeds of crime, reducing supply while demand is skyrocketing.
 
willrocks said:
Altima said:
So where exactly in BitCoin is the current investing cycle?
Click to expand...


In terms of the graph you posted. We're definitely at the smart money / institutional stage.
Click to expand...

Smart money/institutional stage? That would probably be when prices was around $5 - $30? (which makes you a smart investor). Haha
 
When I spoke to my local Bank Manager who handled my deposit for BitCoin.... asked "What is BitCoin?"

So, the banking industry hasn't even heard of it.
 
Altima said:
So where exactly in BitCoin is the current investing cycle?

If you enter now, does it mean you're already too late?
Click to expand...

Altima, BitCoin has been getting quite a bit of "Media Attention" lately :P
 
Haha yes it has. Don't get me wrong, I'm actually open to the idea of BitCoin. Just don't wanna get caught in another game of musical chairs, where my odds of getting a seat is less as I entered the game late.

I understand that the adoption rate may increase in future, but what assurance do investors have that banks/institutional investors will adopt BitCoin and not set up their own digital currency ?
 
Altima said:
I understand that the adoption rate may increase in future, but what assurance do investors have that banks/institutional investors will adopt BitCoin and not set up their own digital currency ?
Click to expand...

Absolutely none. Only invest what you can comfortably afford to lose.
 
IF... and this is still a big IF at this stage in the BTC game... IF Bitcoin does become a relatively widely used currency/payment method, then the fundamentals tell me it has to increase very substantially in value.

There will only ever be a maximum of 21,000,000 BTC, and it is a known fact that some have already been irreversibly lost, never to be seen again.

Considering that there will be considerably less BTC than ounces of gold on the planet might give folks something to think about in terms of potential value.
 
How many more units are remaining till it hits full circulation? ie anymore can't be produced. I think then their value will be increased as people use them to launder money internationally and other tax evading purposes.
 
I sold 2.1 BTC at $297 AUD on anx.hk overnight - they've got wide spreads and sometimes people just place big "at market" orders which gobble up the asks - I try to keep a couple of jackpot type ask trades on there for when someone comes along to do that.

The trick is buying back in :/
 
Could it be like silver where it got to $40+ then dropped like a stone? Anything that goes up that fast would make me nervous....
 
Newtosilver said:
Could it be like silver where it got to $40+ then dropped like a stone? Anything that goes up that fast would make me nervous....
Click to expand...
Possibly. It has done it before. Hit $250 before dropping down to $70~

This time, Chinese money is involved though....
 
I'm guilty of digressing on this thread. Maybe this thread should stick with just future prices. Arguments against/for BitCoin is already in the other thread.

That being said, I suppose if all goes according to plan, wouldn't be surprised to see BitCoin going up to $400.

Wouldn't be surprised to see it drop back to $70-100 either!

Hey it's anybody's gamble right? :p
 
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