Bitcoin Forum

And I think there will be reversal hysteria before it corrects downward again. The price of bitcoin is currently inflated by speculation, and isn't proportional to time value (market interest rates) immanentizing expected supply changes, nor have there been any groundbreaking bitcoin commerce developments compared to failed markets/scams. I would turn your bitcoins into USD for now.

I would say buy, not sell . . .

Maybe buy before you think the (false) reversal crests and then quickly sell. It's already starting

Agreed. I've sold all of mine and am hoping to buy back around 8.

"To complement the Forum moderation policy for Speculation, here are a few guidelines on why postings are likely to be deleted or moved.
On Market Manipulation:

    Clear suggestions to market participants to take a particular course of action (e.g. "Buy now before the price goes to 5", "SELL quickly, the weekend is coming")
    Deliberate spreading of false or forged and deceptive information like faked charts
    Announcements to take a particular market action (e.g. "I am going to buy 50k BTC tomorrow, so you better buy now.")"


Sorry to be an ass, but if our moderator is going to delete my for fun threads because, in his view, they lack "substance" then I am going to at least insist that he enforce his own bullshit rules.

Not, mind you, that I have ever understood what good a "speculation" forum is with such rules.

I don't agree with those rules either, but we can still speculate without telling other people what to do ;)

Some of these threads say the most obvious things like " I have reason to believe the price is going down".....oh really?

12.75 > 12.25?

LOL  :D

I have reason to believe that 1 BTC will be worth exactly 100,000,000 satoshis tomorrow. Also: I don't give a fuck about the exchange rate.

People are buying it up ~12, therefore it goes up from here, not down.

My 2 satoshis

Here's why your reasoning is lacking: There's more or less 300 BTC above 12 USD. That is not a strong resistance at all. Below 12 USD, there's no support until 11.80. The buys you are referring to are miniscule. The day is only starting.

Even if you there are people buying, the sentiment right now is bearish. There were still major selloffs this morning and yesterday. Things may change Monday when the banks open depending on other factors but with GLBSE gone, I think things may remain bearish.

I see no reason for people to go crazy over buying Bitcoins this time of year.

LOL, the timing on this thread is hilarious.

I figured my noob assessment of the market was wrong. But, I'm more of a glass is half full kinda guy. Truth is that no one knows what the market will do. Just gotta wait and see!

You were not proven wrong yet. I would be curious to know, Atlas, what do you mean when you say "there's more or less 300 BTC above 12 USD"? This sounds like a gross misinterpretation of whatever you are looking at.

My 2 satoshis - maybe buyers step in at 11.8-12 later today, but if not then some of the biggest resistance of all lies at 11.58, so we would have to see how price reacts there. A break of that line, on volume, would mean major trend change, but that line hasn't broken since the Pirate "news" panic in August, and even then the break didn't result in trend change but instead only lasted half a day.

Also, compare the volume on this pullback with the volume from the August 30-31 pullback to the 50 ema on the daily. Interesting, that last touch of the 50 ema on the daily happened on a long weekend as well (US banks closed Monday, just as they were on the 1st Monday in Sept.)

The first statement was regarding the market earlier this morning.

...and I was speaking in the general tradeable range. Not overall.

Pics or it didn't happen.
You're basicly saying that you have some reason to believe bitcoin is worth less than it should.
I'd like to know what makes you think this.

Doubt not my wisdom

FUD

Or not FUD:
https://i.imgur.com/L4PNX.png

Well its down to around 11 now

Doubt anyone claiming to speak wise.
 :D V

Doubt not lest ye be doubted.  Oh wait, that's for judgement, not doubting.

Just as I thought, a thread in clear violation ignored while other threads are deleted on a stylistic whim.

Carry on, nothing to see here...

Are you looking at the current orderbook and trying to call the movement from it? There are so many bots living on there, the orderbook can change directions without notice.

Also, you say only 300 btc, is that just on one exchange?

Why should the time of year have anything to do with bitcoin price?

I am predicting we get a rally up to about 12.40.

More like 12.25 before another plunge probably

Plunge to about 11.3 and then there will be about two day high volatility. And stabilization about 11.8. I expect.

Pretty close predictions, good job :)

12.35 it looks like. I will take a 5 cent error as a victory

I'm doubting the stability. Still think we have more correcting to do before anything resembling stability arrives.

Instability, probably.   More correcting?   I think that it already over-corrected by a bit.   This was more a manipulation than correction.

How so? I didn't notice many things that resembled manipulation. No huge walls or something like that. The movements seemed pretty natural.

Good luck selling that.

A correction isn't a trend - with everything going on, volume of trades can break support more easily than it can resistance. Especially since the average use doesn't doesn't place long term orders. And small time miners supply the majority of the resistance.

That being said, I'd be shocked if we see anything being traded under $10. It can only trend up as the USD continues to fall.

Can you show me a chart of this mythical falling USD?

http://www.thestreet.com/story/11734589/1/gold-prices-climb-on-weaker-us-dollar.html

So gold gained $5/oz today... who cares?  It lost a dollar yesterday, and it lost $14 the day before.  The one year gold chart shows a whole lot of going nowhere, and the one year DXY chart looks more up than down.  The 5 year DXY shows we've been bouncing around 80 since the '08 crisis: http://www.marketwatch.com/investing/index/dxy
Debt has only increased since then, so demand for dollars (to make payments) is rising.  I don't care how much Bennie prints and hands to the bankers, it won't cause inflation because the banks are hording it.  If he handed out money to the people we might see some inflation, but I don't see that happening any time soon.

Go look at Japan's economic history.  There are some lessons to be learned, and those who understand them will do well in the US economy in the next few decades.

You understand QE started killing japans economy ~20 years ago... but you claim the dollar isn't losing value... Look at any forex pair since 2008, you'll see the trends.

Dont forget to comapre USD against other fiat to get a resounding picture of the falling USD. In Australia, in ~3yrs we have climbed from ~USD$0.70 up to ~USD$1.10 and have settled for the past few months around the USD$1.05 mark with no end in sight. This hurts my BTC operation as BTC > USD > AUD used to get me an extra 30% just on the exchange rates.