Bitcoin Forum

Fundamentally, nothing really changed yesterday. So, the sharp peak yesterday should not be the ultimate high point of this ride.
We did need to catch our breath, as we had doubled in only 3 days.
I say we will back down a little, consolidate around $650-ish and then move further up.

It was very anticlimatic that we didn't test $1000 yet, at least on the USD exchanges.
We definitely should touch it before we can satisfactorily give it a bit of relative rest until spring.

PLEASE STOP SELLING!

It's definitely in crash mode.  IMHO $350 here we come.

I don't sell, I wait for the bottom(s). And this is going to continue for several days, with ups and downs.  ;D

Don't worry, another bear trap is in progress.
They are hoping to re-buy what they lost at previous trap  ;D

many people are investing after yesterdays hearing, it wont go below $600

Quite opposite, please sell if you have balls, the exchanges need more coins or this volatility will continue

Haha. How wise.
Sell now at $500, just to re-buy at $700 later :)

hehe everyone BUY. this is a bear trap I agree :)

Someone is a bit desperate buying at $700 I take it?

Coming down fast, call the bottom.  Maybe $350 to high, $200?

http://www.youtube.com/watch?v=V_ONyukSLqA

Wow, at least BTCe seems to think so. $390 and dropping faster than I can type. (375 when I finished this sentence...)

I call $200

meet you all at the bottom :D

spiralling down

sell while you can

Bounced off $400

Epic bear trap?

Wow $400 on bitstamp too

yep :)

gonna suck if you didnt buy these cheap coins. you'll see tomorrow, ppl crying they didnt buy HAHA

wow impressive!

You got to be shitting me if this bounces back over $500

to buy in this uncertainty is begging to lose money.

i love lazy eyed tranvestites

To not buy means missing out on a great opportunity.
You'll be one of those 'I could have bought at $400, but now it is $10,000. I'm so sad, please give me some coins'.

Posts like these re-enforce my current buy signals.

Now's the time to buy folks.

But ya gotta have nerves of steel, and buy all the way through the dip.

From a purely technical perspective (if going by the rules of the re-establishment of an uptrend) then bitcoin has to make it above the SR line that was formed.

http://www.bitcoincrystalballtrader.com/trap1.png

I bought near the top of the April bubble around $230. Felt a bit silly temporarily, but do I regret that decision? Nope!

I'm actually buying a little every week with disposable income. Dollar cost averaging.

There are two perspectives you can take when it comes to all this stuff. The Investor perspective and the Trader perspective.

Investors are usually punished for going in and out because of transaction costs. The more they churn, the brokerage makes the money.

Traders overcome this by having higher accuracy, and profiting on the ups and downs in order to overcome the transaction costs (commissions).

*BUT* since the transaction costs of bitcoin trading are close enough to zero, a little optimal buying and selling isn't a bad idea.

Even if you simply bought at lower pivots, then used that pivot as a "get out" point, you wouldn't be hurt since the commissions are so low.

*Thud* what was that? Bump? Cat?


Best to navigate the bitcoin market with a lifted 4x4 truck.

BitcoinTraderFX, where do you trade with near 0 fee? Bitstamp and MtGox have very high fees, and they're the largest non-chinese exchanges.

I hope so.  I'd LOVE to double my position!  Sold at $740.

Dee Snider?

Bitstamp :
Droped from over 600 to ~525 within a few minutes, and flew back up from 525 to 565 in less than a second.
Someone's still playing, I guess.

No, it's you don't know how exchange works. See, when the range is bought out, even 0.001 btc buy would move it all the way back.

Its just a big bump in the road up the mountain.  Any crashes that happen today or in the next week wont keep the price down, it will rise back up very quickly, but they will occur.  It will take more than a few swings to get all the exchanges up over $1000, then we'll charge onto $2000 and probably reach around $3000, with the Chinese leading the way the difference between the exchanges will get larger and larger.  I'm using the btcchina prices here for my estimates, bitstamp will be around $2000 or even $1800 while btchina is up at $3000.  After that I don't know.  Maybe a crash to $1000 where we will settle or maybe a bit lower.  Haven't a clue where it will end up once things 'settle' if they even do settle.  It could just keep frothing madly upwards like this for a long time with more bull news spurring it on. 

Consider yourself shat!

Unfortunately Bitcoin had to be stubborn and chose the most dangerous route up, the steepest one with the 60 degree incline. Even the best of 4x4's has a high risk of tumbling off that cliff --> total loss

The first 25 seconds of this illustrates what I mean:

http://www.youtube.com/watch?v=ysbhhumSPCI

Best analogy ever imo