|
Title: No good reason for the wall at 100 Post by: massivebitman on April 17, 2013, 02:36:42 PM It really baffles me that there is a wall at 100.
Psychological barrier no doubt, but why put up a wall at 100, if you wanted to cash out rich.. why put a wall up? Why not just dump it at 95? I think that wall has got to come down.. There's lots of buy pressure now. If I put my sell order at 100, I'd have either sold by now, cause I thought it was going to fizzle out or would be pulling it to ride the wave. There will be a wave.. So many people have come to me in the last couple days telling me how excited they are about bitcoin... This was months after I told them about it! Only now after the bubble are they interested!! Title: Re: No good reason for the wall at 100 Post by: NamelessOne on April 17, 2013, 02:39:39 PM It'll pass 100 eventually, this is just how markets work. If they people genuinely sell at $100 many of them will buy again if it flies past and leaves them in the dirt. Other may have real reasons to sell and want the USD at that price.
Title: Re: No good reason for the wall at 100 Post by: OnlyGoodVibes on April 17, 2013, 02:42:59 PM Before the crash, I'd agree, but now I'm guessing lots of people are cutting at $100 to either break even or escape with profits. Lots of people bought in at $100 and since the crash they will want out and selling at $100 is most peoples breakeven point.
Title: Re: No good reason for the wall at 100 Post by: Rampion on April 17, 2013, 02:47:13 PM Before the crash, I'd agree, but now I'm guessing lots of people are cutting at $100 to either break even or escape with profits. Lots of people bought in at $100 and since the crash they will want out and selling at $100 is most peoples breakeven point. Lot's of psychological resistance / breakeven points from now on: $100 $130 $160 Expect extreme volatily in the short/mid term. Title: Re: No good reason for the wall at 100 Post by: massivebitman on April 17, 2013, 02:52:59 PM We've seen volatility... but at this point I see no good reason for it to go down.
The crisis is over! Sure it's overvalued. I actually believe it's overvalued right now to what it's worth (right now), but so what! Long term it's a great bet if it even takes on a small portion of internet payments then it is drastically undervalued at the current rates. After the socialising that the currency has been given due to the bubble.. People will want to use it There's no where left to go long term but up! |