Psychology of the $30 BTC, this is one movement I'll be watching closely. _ Bitcoin bitcoin price dollars

Psychology of the $30 BTC, this is one movement I’ll be watching closely. _ Bitcoin bitcoin price dollars

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When I started to think about writing this post, the USD/BTC price was $28.8, now it’s floating somewhere around $29.4

Currently, there’s a 8501.6 BTC paywall that must be bought up before the price will reach $29.95, and a total of a 14,645.1 BTC paywall that needs to crumble just to nudge that much higher to $30.Bitcoin price dollars unlike the occasional gigantic faux-paywalls we’ve seen briefly appear before, this is one persistent gap that shouldn’t be ignored.

The jump past this point is fairly significant for many BTC owners, because beyond here the bitcoin will be priced higher than it ever has been before. (technically, the highest price traded on mtgox was around $32, this was on june 8th 2011) but the market was immature then, and it could not tolerate a 14 BTC price jump in a single day. After june 9th the price began a weekly tumble until it bottomed out in the $4-5 range.

But you can compare what’s happening now to what happened then

An important difference shown is that in 2011, the price jumped nearly 14BTC in a single day, a preposterously unsustainable bubble.

As we nudge into the thirties now, this completely new territory is undoubtedly the reason why such a high fortification has been put up in the first place.Bitcoin price dollars many owners have decided that $30 (or some point immediately before then) is a good time to sell and secure profit.

I might be inclined to agree. Because while the price of the BTC undoubtedly will jump leaps and bounds once it is past this point, I think uncomfortable notion of we’ve never been higher than now before! Will cause a significant amount of bouncing and resistance against his boundary. If there is a sudden sell-off, you can bet that I’ll be waiting to buy.

What do you personally think will happen around the $30 BTC mark?

A) A massive sell off

B) A prolonged leveling

C) A massive surge past!

D) something else?

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Not as rough as the drop from 32 to 1.8. The entire point of a meaningful correction is that the sentiment have to be completely crushed and reset.Bitcoin price dollars prices always rise on a wall of worry and peak on a euphoric belief that it is now 100% sure that this is the next big thing. You cannot have a wall of worry unless the price corrects so low that most people turn negative. The easiest way to spot the peak is when everybody is in agreement that the value will go up up up. Right now most of the posts i read is that its a bubble, its a ponzi, its overvalued, the price will collapse and yet slowly but surely the price steadily increases. If im right soon the most negative people will change their stance and get a feeling of if i don’t buy now the bitcoin train will leave me, this shit is for real, i cant buy enough coins fast enough. You will see angry posts pointing fingers at ex international wire transfers not being fast enough and they feel angry for missing potential profits because of time delays.Bitcoin price dollars once this happen we will see a blowout.

This is just the way it is, the origin of the price on any stock or commodity is fundamentally rooted in human beings and since we are animals with a herd mentality we tend to behave like a herd. Not so easy to predict exact prices or timing but sometimes its possible to read the sentiment and have some kind of prediction. I might be 100% wrong of cause, this is just my subjective feeling on what state/stage the marked is in now.

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