Bitcoin Forum

What is the fucking deal!?!?!

To me it doesn't get any more bullish than the NYSE and the NASDAQ getting into bitcoin .

I think the downward spiral we are in is really hard to break out of cause the miners need to sell sell sell just to keep the damn lights on. 

If we can get some real, good news that can kick start new buyers we can get out of this spiral and start building again.  The news has been good, but the miners are using it up to sell asap.

For starters, Nasdaq didn't "get into" bitcoin, they sold very expensive software to Noble Markets. A company with no history or even customers at the moment, and it involves Brock Pierce.

The news of the former CEO of NYSE serving as an advisor to Tera Exchange is better, but still really zero net impact to current markets.

Like it or not, it was Evo going down for the first drop, and Agora taking a 24-48 hr "security maintenance" period behind this last drop. Unfortunately, that has broken most of the major support levels. A condition which usually hints at further panic selling, after not seeing significant rebound.

The heavyweight financial stuff is all still in the pipeline. It'll need to be tested and proven and then there might be some fundamental action.

Until then we'll probably be thrashing around in the shit. I'll guess that the old guard is starting to get a little battle weary by now.

It's not miners, just speculators.  This is what they do.. cause people to panic sell and buy cheap.  Raise price and sell to the people that panic at a higher price.  This is all they do.. their only goal is to separate you from your money.  Just how many early adopters really don't have anything to show for it.  Traders came in and gave them a pertinence for their coins.  Then boosted price and sold them over and over again.

You have a few options here.

1. Get in at a price and hold until it goes above your price no matter the time frame.   Then sell. Not really practical since you won't guess the top to maximize profit.  
2. Buy in as a long term investment.  Doesn't really matter the buy in price. 200's aren't that bad of a buy in.
3. Buy to spend on things and enjoy it.
4. Learn trading, do it 24/7 and hope you win more than lose. Your in shark territory and it's only going to get more brutal with big traders entering.    

Neither miners nor speculators are behind the current crash, it's the whales. Think about it, the whales pour their cheap coins and flood the market, causing massive pressure on the sell prices. When the prices have hit their lows, they start buying them and stabilize the price. See, the thing is, these whales had bought the coins when they were dirt cheap, so selling them at $240 is still a massive profit to them. These whales can play this dump and profit cycle for a long time, even if the price falls as low as $0.01 a coin, because that's the price they had bought the coins for.

Read this article for proof:

http://www.coindesk.com/inside-whale-club-the-trading-room-that-loves-bitcoin-price-declines/

"good" fundamentals really doesn't mean anything when a security has been so overbought for so long, especially when everyone that bought it bought it for speculative purposes only.  Nobody buys btc so they can spend it at Dell computers or something.

miners? are you a miner? why did we sell bitcoins as soon as possible? I expect the day that bitcoin to the moon

Those investors will want to get BTC at this price or lower before pumping it.

I believe their investment was moreso into the btc infrastructure (coinbase).  This way they make money regardless of price.  This is why I dont think their investments are a bullish sign (not yet)