TheSleepyTrader

$450 an important milestone (Long term bull - Short term bear)

MTGOX:BTCUSD   Bitcoin / U.S. Dollar
98 2 1
Hitting $450 is an important milestone for Bitcoin .

Long term I am still long, but short term I don't see how these rises can be sustained. $100 dollars in a week, Bitcoins are great but there isn't 450x the usage or services available that there were a year ago.

This is largely being driven by media interest and the opening of BTChina (and there is a lot of demand in China).

I still think we will see a short term correction, but whether this is like the $400 to $300 we saw last weekend (and lost me 3 BTC as I was waiting for $280) or whether it will be the big correct we are expecting back to the $230 - 280 level I don't know.

But if it does get back to $280 I will be buying in heavily.
LeMogwai
3 years ago
too much people think the same as you, it won't go this down, expect just a little correction that's all /
Reply
TheSleepyTrader LeMogwai
3 years ago
That's what I said - Long term I'm bullish on Bitcoins, I fully expect $1000 per coin, but in the short term there isn't the market and economy in Bitcoins to support this rise. There has to be a correction soon and people will profit take as Bitcoins are still high risk; I don't think we will see below $200 again but there will be a big and fast fall soon.

This is a speculation rise currently, but not a long term sustainable rise at this rate.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out