Bitcoin Forum

After silk road closed, the price mini crashed, similar to now, post god

Even if GOX sorts this all out it, BTC withdrawal issue remains, and Gox lost significant goodwill and trust.

One side of the trust equation was lost the withdrawals were basically stopped

The Other side is BTC being stopped.

in a post GOX environment, the prices will surge as that uncertainty is now gone.

Any money that was going to GOX will go to BTC-e and friends

also there are a likely lot less coins than people thought due to Gox.

when the silk road crashed, I think that was a different case altogether. first of all, that was within an up trend, this is a down trend. The silkroad closure was a surprise, a surge now would be because of nervous holders. also, the time and price scale is much different.

i don't think anyone can predict trends.

however a massive uncertainty is be removed from the market now.

If Gox does resume business (like they always have)

1) There is still a huge amount of GoxBux which is stuck, except for a few occasional bank transfers.
2) Now there will be a large flow of BTC leaving Gox.
3) The Cash/BTC will be so extreme that it will spark a GIANT Rally! to $4,500/btc and the other exchanges will go to at least $3,200

 ;D 

This is not just due to Gox, it's also due to Russia's new legal stance.

But as we know, Bitcoin is the honey badger of money. We'll hit $300 then we'll choo choo motherfucker

if Huobi breaks below 4500, the big surge will be DOWN

I seem to be the only one who thinks the worst news for btc isn't gox or russia but apple...

Do you permabulls honestly think BTC can just go up every single day forever and ever?

Lol look at the gains we've seen in the past year alone, most who invested and see nice gains are sure as hell taking some money off the table during the exponential run-ups (30, 266, 1200 etc.)

BTC is already down ~50% (on Gox), do you really think it can keep going down every day forever and ever?   :D

Well I'm not selling my BTC regardless of how far the price drops.

I've just started buying with what little fiat I have left over from this week. I'll just spend 25% of my fiat every other hour until I'm out of fiat. I figure it'll average out for me over the next 8 or so hours.

I can't speculate on how low the price will go, or how long this trend will last, but I can say for certain that I'll be buying the whole way down at every opportunity.

No but a correction only lasting 2 months isn't enough time for the BTC userbase to grow another order of magnitude/to bring the price up an order of magnitude with it. After every big run-up we see a violent correction. We have at least 2-4 months of low prices coming before the next "bubble" happens. After you've been around for a few of the "bubbles" you will start to get the hang of it and maybe even trade a bit yourself to make some extra BTC!


This is a great strategy for newbies:

the next user base is cashed up and ready to go.

All I can say is that I've been here since 2011 and I wish I would've listened to the permabulls back then. Not as much has changed since then as it may seem.

I don't understand your reference. I don't see any links relating my strategy of cost averaging during this downward trend to any measure of inexperience... The price is just as likely to increase as it is to decrease and I don't want to miss out on an opportunity to buy inexpensive coins.

I could be wrong about everything but it's nobody else's problem. I'll follow my own initiative...

I guess we'll see how it all works out.

I never said you were inexperienced, but that it is a great strategy for those who are! Going all in when you want to will rarely get you the best average price

PS...One week MACD has just crossed over for those who like to read technicals (get into it!). This along with some of my other favorite indicators tell me that BTC will have some time to cool down and go sideways/slump. Believe it or not all the great news we have heard in the past 6 months has already been priced in at $1000 BTC


https://i.imgur.com/EP08dyG.png?1

I see 7 straight daily red candles. Do you think it can go down everyday?

I've been here much longer than you, and this time the "real-world" is actually using BTC.
I trade "both sides" and make money either way, but I am net long and expecting a huge Rally is happening this year.
As it goes lower trading fees are less, % gains are higher.......this is great... bring on $35/BTC.......but

$3,500 is possible within 4 months.

This drop is obviously because Bitcoin is broken. We will see zero within days.

Oh the good ol "Date Registered" wank fest, I love it. As I said in an above post it is my belief that positive fundamental changes (such as increasing use in the "real-world") have already been priced in at $1000 coin


Of course prices will come and go daily. But our mid-term (4 months) trend is down, long term(1-5 yrs.) we are way way up!
IMO now isn't a great time to be going short but I'm not covering my shorts and going long yet.

I'm wondering...

Why have we had so much market manipulation recently holding the price at $800 and where are those manipulators now?
How might they benefit from supporting the market in the past where they don't benefit now?
What is the motive behind it?

Could they spark a crash and then swoop back in with much greater sums of institutional money to buy a much greater number of coins for the same amount?

I've read and heard the world news about Bitcoin and this isn't related to the news... This trend is irrational and reeks of manipulation.
Seriously... Apple, Russia, and some money laundering... Everything else is overwhelmingly positive...

I think something big is about to happen. I think this is a plot to lower the price and inflate the sell walls to allow a huge buy in opportunity...

A whale or whale entity is just another force in the market place like you or I, in that the whale will have 'enemies' in the market of equivalent size, larger, or more numerous in the market.

During quiet spells, I have even seen me 'manipulating' market down with series of leveraged short selling at minor tipping points. It seemed to work well, until a bigger boy came along and bought up a shit load of Bitcoins sending me right into negative equity. Same rules apply for the whales.

I tend to think the same will happen in the longer term picture. Might not be an immediate BULL run up.