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Title: Is bitcoin sowing its muscle? Post by: zemario on August 04, 2013, 03:02:00 PM A lot of trader badass wannabes have been bragging about how they are fearless and will go for their $30 so called 'cheap coins'. Turns out that is starting to be a faded mirage. Those very same so called 'traders' are now hiding in their insignificant holes or or busy trying to digest their post crash loss.
I say this because, clearly most speculators got in during the big bubble, and most of them got burned and are, to this day at loss. This is not me speculating, it's direct conclusion of the available data. Heck, just look at the volume during the bubble. Those cheap coins never showed up and the bubble is becoming a far event in the past with little correlation to today's market activity. The price has been slowly catching up for a month now. Little opportunities for speculators, but definitely a good sign for those that believe and hold bitcoins. Is bitcoins proving to be a strong value store that can only be affected by speculation so much? The last bubble was less dramatic than the previous one. Does this make sense? Is it just a coincidence? Title: Re: Is bitcoin sowing its muscle? Post by: ElectricMucus on August 04, 2013, 03:07:11 PM cool story bro.
Title: Re: Is bitcoin sowing its muscle? Post by: adamstgBit on August 04, 2013, 03:15:21 PM A lot of trader badass wannabes have been bragging about how they are fearless and will go for their $30 so called 'cheap coins'. Turns out that is starting to be a faded mirage. Those very same so called 'traders' are now hiding in their insignificant holes or or busy trying to digest their post crash loss. I say this because, clearly most speculators got in during the big bubble, and most of them got burned and are, to this day at loss. This is not me speculating, it's direct conclusion of the available data. Heck, just look at the volume during the bubble. Those cheap coins never showed up and the bubble is becoming a far event in the past with little correlation to today's market activity. The price has been slowly catching up for a month now. Little opportunities for speculators, but definitely a good sign for those that believe and hold bitcoins. Is bitcoins proving to be a strong value store that can only be affected by speculation so much? The last bubble was less dramatic than the previous one. Does this make sense? Is it just a coincidence? true ALOT of people were getting in as price was climbing high, but i don't think most of them are at a loss, alot of them are for sure... but i would think most are showing at least a small profit. my advice to all the new speculators is not to get greedy. alot of old school bitcoiners have sold waiting for 50$ or less to buy back in, i really dont think thats going to happen... but another dip to 70 or 60 is very possible and if you bought bitcoin above 100 during the rise and fall, 70 - 60 $ is a gr8 opportunity to lower your avg price Quote The last bubble was less dramatic than the previous one. what? this bubble was much more dramatic! maybe the price didn't move as much %wise but a fuck load of value changed hands this time, much more then last time, and for that i say this bubble was more dramaticDoes this make sense?[/b] Is it just a coincidence? Title: Re: Is bitcoin sowing its muscle? Post by: sunnankar on August 04, 2013, 05:09:01 PM They simply underestimate the complexity of forces that form that price support. I struggle with it myself. And there is tremendous information asymmetry and asymmetrical knowledge. Plus, they cannot rely on the normal tools (https://en.wikipedia.org/wiki/Working_Group_on_Financial_Markets) for price manipulation (http://www.youtube.com/watch?v=06fa20Y_cXg) because bitcoins must be delivered to a wallet and it is extremely cheap to instantly verify the quantity and quality of bitcoins. They are either in the blockchain or not. |