The Litepresence Report on Cryptocurrency

Damn if there wasnt so many new altcoins coming out btc would be over 1000dollars now. Thats the reason i rhink we wont be seeing rocket % rising in btc anymore since so many new altcoins are created
 
btcltc said:
Damn if there wasnt so many new altcoins coming out btc would be over 1000dollars now. Thats the reason i rhink we wont be seeing rocket % rising in btc anymore since so many new altcoins are created
Click to expand...

Agree to an extent. Still BTC will be the most profitable in the long term. Trick is to use the more popular Altcoins now to grow BTC. Projections are BTC will average $1000 for all of 2014. If you visit this link again:

https://cryptotrader.org/backtests/JPeqaWJY3sdd6bTsg

. . . could it be this CoffeeScript was written and tested against this very period of time with expectations that BTC's price action might look like between now and July? If so pretty flat.

To get an idea of where we are now its just after the little spike up on June 19th, 2013. So what is that? $781 on BTC-e.

Projecting forward, the dip down in a months time represents 3 March 2013 and the resolution of BTC's consolidation penant. Best guess would be $675 on BTC-e give or take, as the lowest price you will ever see BTC again.

If this holds true and the same rise out of consolidation occurs (proportionally of course) as we saw after the April 2013 Spike high, then between now and July the most you will pay for BTC on BTC-e is $850ish.

That being the case its a great time to be playing the Alts and/or finding ways to turn savings/labour into more Fiat to plan your BTC purchases.

This graph ends on 3 Oct 13 and we all know what happened in Nov/Dec 13. Aug/Sep 14 timing for next major BTC move???

. . . so it provides a bit of a timeline to think about.

Then again all this speculation goes out the window the moment the global meltdown starts and people quickly figure out there's no Gold or Silver left . . . next best thing? The Cryptos. Some call that as starting as early as Mid to Late March 2014.

The jumper off the JP Morgan building yesterday gives a hint its coming very soon, because its pretty much game over . . .

Bottomline is times short and 99% of the planet still hasn't figured this out yet, or if they have they are still in denial that its real and now on our doorstep.

Prepare wisely . . .
 
PaulConventionWV said:
Is PPC going back up any time soon?
Click to expand...

On PPC I was looking for a modest correction from the late 25 Jan 14 run up. 24-36 hours only. Then just as that was ending we had the Russia announcement and BTC falling. This went on for about a day dragging everything down (IMHO the timing of that announcement was not coincidental, planned just as the China announcement was in December). Then we had a mini-pop and correction on PPC and now its totally flatlined on support @ 0.00641.

NMC and XPM are both faultering.

If something is going to happen it needs to happen soon. NMC on the daily chart just clinging to life above its Daily Ichimoku cloud. The next day or two will tell because if it penetrates it could be going down.

All it takes is one to fire and PPC looks best positioned to do so.

Then again, with the DOGE now atop of NMC and doing 3-times NMC's daily volume and 1.5-times PPC's daily volume, could it be this is changing the dynamic we've seen in the past? (e.g. PPC moves higher but only modestly so and NMC heads lower). The mystery will be resolved certainly in the next day or two.
 
Paladin69 said:
Okay so it looks like two things happened today causing the contraction. Bitinstant CEO we already know about...the second thing that happened is a bit more murky as I can't get a decent translation. The Russian central bank said something negative today as well. It wasn't a ban...but I'm not sure what it was exactly...
Click to expand...


The Russian Central Bank (CBR) issued a statement late Monday warning that


virtual currencies, or“money surrogates” are illegal


under Article 27 of the Federal Law “On the Central Bank of the Russian Federation”.
Click to expand...

http://rt.com/business/bitcoin-warning-russia-bank-280/
 
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btcltc said:
Damn if there wasnt so many new altcoins coming out btc would be over 1000dollars now. Thats the reason i rhink we wont be seeing rocket % rising in btc anymore since so many new altcoins are created
Click to expand...

The peons playing altcoins don't have enough to majorly move markets. Winklevoss-type people do.
 
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presence said:
Apparently you weren't watching Feathercoin 3 days ago when someone (fontas?) dropped a 3500 BTC buy wall on the books... or Newyear's when davidpate pumped PPC, buying $1m stake.


also there are currently 4 people w/ DOGE addresses worth more than $1m; one worth over $7m

http://bitinfocharts.com/top-100-richest-dogecoin-addresses.html
Click to expand...

Yeah but think about the numbers. 4m here, 1m here, 7m there. They would only slightly move Bitcoin even if they put it all in which is currently at 10,000m. When China was playing, a massive amount moved into BTC. Like 6-8b.
 
Paladin69 said:
Yeah but think about the numbers. 4m here, 1m here, 7m there. They would only slightly move Bitcoin even if they put it all in which is currently at 10,000m. When China was playing, a massive amount moved into BTC. Like 6-8b.
Click to expand...

I think it could have an effect. It's not all about the numbers. It's also about the perception and the way bitcoin stands out. As long as there is a bunch of other action, it distracts from what's going on with BTC, and it can certainly be at least somewhat significant. Any significant movers "here and there" can have an effect on all of the followers.

That said, this could be the year that the altcoins start to die out or mass-murder one another. It's already happening with 42 coin and MSC plus a few others. If that happens, and the focus turns back to BTC, that could mean another parabolic UP. It's really just speculation, though, so there are no guarantees there. When you add up all of the market caps of the alt coins, they most certainly are significant to BTC. Even if you leave out Ripples because they don't necessarily "count", you still end up with a $billion that could be put into BTC. With Ripple, it's more like $3 Billion. That's significant.
 
fatjohn said:
I agree, still thinking 300 as the low.
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maybe 300 would be pushing it abit. But definitely it should fall.
The question is how long will it take for it to recover. or will the downtrend be slow but consistent throughout feb.
 
btcltc said:
maybe 300 would be pushing it abit. But definitely it should fall.
The question is how long will it take for it to recover. or will the downtrend be slow but consistent throughout feb.
Click to expand...

Will it matter if one picks the absolute bottom when its $10,000+ and headed higher?
 
Narrow Minded and Singularly Focused

btcltc said:
I hope you arent that narrow-minded to actually think we will be getting anywhere near those numbers anytime soon?
Click to expand...

Soon? Soon is a relativistic term. In Geological time yes very soon. In Gregorian Calendar time, most likely not in 2014 but quite close actually. Is this being narrow-minded? Not so sure, afterall there's only 21 Million BTC to go around and only 12.3 Million available today.

Have a look at this chart from a trader on TradingView

https://www.dropbox.com/s/qzm6bxje86774a1/BTC in 2014.jpg

$484.80 is the low on around 6-8 March 14 in his/her opinion. Seems in-line with other suggestions on here. Keep watching for around this price, grab a bunch, hang onto them for 5 months, use the Alts in the meantime to multiply them as best as possible, and then round about 1 August 14 sell the lot for $8000 a pop. Wait a few weeks for the correction and start it all over again. Seems a plan to me. :-)
 
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Why is Mastercoin (MSC) in free fall?

MSC has been declining steadily for weeks. When I saw it first, it was closer to $200, but it's been steadily dropping for the last few weeks and especially the last few days when it would lose about 15% per day to where it's now $66.89. Does anyone know what the heck happened to MSC? Even the pump-n-dumps are doing better than MSC now.
 
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