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Title: Is the blood on the street drying up? Post by: RodeoX on March 10, 2015, 03:58:22 PM It looks like some upward pressure is building and I'm not sure I like it. This rise is fast enough that it looks like another bubble. It would be better, IMO, if we saw a rise of $5-6USD per week. But whatever. For the moment I'm going to stop buying and move into a spending phase.
Remember the best time to buy is when there is nothing but pessimism and "blood on the streets". Now that we are rallying it is a better time to spend coins and take some profits. So the $230 bitcoin you bought last week is now super money worth more than what you paid. Or maybe you have another strategy? Do tell. Title: Re: Is the blood on the street drying up? Post by: drbrock on March 10, 2015, 04:03:14 PM Hmmm, well as someone who only has about 7.5btc to my name I am holding tight for the long term. Living in the UK is fairly difficult for me to use exchanges for trading on a day to day basis. Also really to make any progress I would either have to trade with a lot more btc than I currently am (sort of playing around with half a bitcoin on coinbase) or the price needs to be a lot more volatile.
To be honest was kinda hoping prices would have fallen to around 100/150 dollars so that I could afford to buy a few more btc but hey its all good Title: Re: Is the blood on the street drying up? Post by: cypherdoc on March 10, 2015, 04:12:52 PM It looks like some upward pressure is building and I'm not sure I like it. This rise is fast enough that it looks like another bubble. It would be better, IMO, if we saw a rise of $5-6USD per week. But whatever. For the moment I'm going to stop buying and move into a spending phase. Remember the best time to buy is when there is nothing but pessimism and "blood on the streets". Now that we are rallying it is a better time to spend coins and take some profits. So the $230 bitcoin you bought last week is now super money worth more than what you paid. Or maybe you have another strategy? Do tell. i think that's a bad idea given that the historical ramps have been on the order of 10x. Title: Re: Is the blood on the street drying up? Post by: Amph on March 10, 2015, 04:14:53 PM i don't see any fast rise, it looks to me a slow climb, which is good, a really slow rise like 5-6 dollars per week, can't be achieved now, we need more adoption for that
my strategy is to hold for now, shorting now it's crazy, better to wait for a bit we will pass 300-350 easily Title: Re: Is the blood on the street drying up? Post by: RodeoX on March 10, 2015, 04:24:02 PM Hmmm, well as someone who only has about 7.5btc to my name I am holding tight for the long term... Makes sense. It looks like it may go up for a while. If only we could know the future, then we could spend before the pop and buy back before the next ramp. i think that's a bad idea given that the historical ramps have been on the order of 10x. True. My hope (that is all it really is) would be for a flattening of the ramp to a slow climb rather than a boom/bust cycle. It may just be the way BTC works and a permanent feature? i don't see any fast rise, it looks to me a slow climb, which is good, a really slow rise like 5-6 dollars per week, can't be achieved now, we need more adoption for that Yes. adoption is the key. The *problem is that speculators are not basing their price on utility. They are trying to guess future demand. That normally leads to overshooting the mark and inevitably crashing to correct. my strategy is to hold for now, shorting now it's crazy, better to wait for a bit we will pass 300-350 easily *Since this is what speculation is, it's not really a problem. Title: Re: Is the blood on the street drying up? Post by: dothebeats on March 10, 2015, 04:29:04 PM It looks like some upward pressure is building and I'm not sure I like it. This rise is fast enough that it looks like another bubble. It would be better, IMO, if we saw a rise of $5-6USD per week. But whatever. For the moment I'm going to stop buying and move into a spending phase. Remember the best time to buy is when there is nothing but pessimism and "blood on the streets". Now that we are rallying it is a better time to spend coins and take some profits. So the $230 bitcoin you bought last week is now super money worth more than what you paid. Or maybe you have another strategy? Do tell. I honestly consider this as a good profit already (I sold a bit when the price reached $300). The pressure from the buy side is high, and I can't tell whether I like it or not. I guess I like the slow rises better than this one though it still is pretty good for me. Title: Re: Is the blood on the street drying up? Post by: ThatDGuy on March 10, 2015, 05:06:12 PM It looks like some upward pressure is building and I'm not sure I like it. This rise is fast enough that it looks like another bubble. I'm bullish on these consistent gains, but am nowhere near ready to start talking bubble yet. If we keep going at the rate of February through the month of March and into the beginning of April, though, and then it might be time for bubble-talk. I think we have a ways to go upward to get back to BTC's current expected value. The correction from $1200 -> $200 seems like it was oversold. Title: Re: Is the blood on the street drying up? Post by: BillyBobZorton on March 10, 2015, 05:15:31 PM It looks like some upward pressure is building and I'm not sure I like it. This rise is fast enough that it looks like another bubble. It would be better, IMO, if we saw a rise of $5-6USD per week. But whatever. For the moment I'm going to stop buying and move into a spending phase. Sometimes new price paradigms are created throw big fast price rises than seem like bubbles, but then after a small correction they don't pop. So never see fast price surges as a negative thing.Remember the best time to buy is when there is nothing but pessimism and "blood on the streets". Now that we are rallying it is a better time to spend coins and take some profits. So the $230 bitcoin you bought last week is now super money worth more than what you paid. Or maybe you have another strategy? Do tell. Title: Re: Is the blood on the street drying up? Post by: billyjoeallen on March 10, 2015, 05:16:20 PM It looks like some upward pressure is building and I'm not sure I like it. This rise is fast enough that it looks like another bubble. It would be better, IMO, if we saw a rise of $5-6USD per week. But whatever. For the moment I'm going to stop buying and move into a spending phase. Remember the best time to buy is when there is nothing but pessimism and "blood on the streets". Now that we are rallying it is a better time to spend coins and take some profits. So the $230 bitcoin you bought last week is now super money worth more than what you paid. Or maybe you have another strategy? Do tell. i think that's a bad idea given that the historical ramps have been on the order of 10x. +1 ^^this^^ it's understandable that people have forgotten how crazy high it can get after a 14 month bear market. Remember all it takes is 0.2%of world population to decide they want just one bitcoin each, and it would be impossible even at $1 million/bitcoin. Title: Re: Is the blood on the street drying up? Post by: bassclef on March 10, 2015, 05:29:49 PM As past price movements set the market up for future movements, I do expect that the correction from this long bear market will be significant, but it won't happen in a day. More like a matter of months.
We are still digging ourselves out of the grave... next stop is the foothills above $500, then the injection of more outside capital as the herd begins panic buying will fuel a relatively quick parabolic rise that of course will not be sustainable and will burst in tremendtous fashion as the cycle begins again. That is, barring any major catastrophe ;) Title: Re: Is the blood on the street drying up? Post by: RodeoX on March 10, 2015, 06:03:14 PM Great insights guys. And interesting reading.
Who knows? But It seems like the dead wood has been cut out and some sort or rally is at hand. My strategy is to run counter to the market, so while I'm happy to see a rally, crashes are my buy signal. Title: Re: Is the blood on the street drying up? Post by: Kipsy89 on March 10, 2015, 06:05:19 PM It really isn't that fast... I remember the price fluctuating over $100 a year ago, even back in January we saw a $250-$310 rise within 12 hours - that was a bubble. Breaking out with some momentum isn't bad at all!
Title: Re: Is the blood on the street drying up? Post by: Razick on March 10, 2015, 06:19:18 PM It looks like some upward pressure is building and I'm not sure I like it. This rise is fast enough that it looks like another bubble. It would be better, IMO, if we saw a rise of $5-6USD per week. But whatever. For the moment I'm going to stop buying and move into a spending phase. Remember the best time to buy is when there is nothing but pessimism and "blood on the streets". Now that we are rallying it is a better time to spend coins and take some profits. So the $230 bitcoin you bought last week is now super money worth more than what you paid. Or maybe you have another strategy? Do tell. I've been gradually buying small amounts for months. I'm in for the long term. EDIT: << First post as a Hero Member. :) Title: Re: Is the blood on the street drying up? Post by: dsly on March 10, 2015, 06:50:49 PM It looks like some upward pressure is building and I'm not sure I like it. This rise is fast enough that it looks like another bubble. It would be better, IMO, if we saw a rise of $5-6USD per week. But whatever. \ ACtually I feel the rise hasn't been in the bubble trend this time. Usually I have seen price rising and falling by 50 $ in one day. but this time its going up slowly, and has been a lot of days that it has been increasing since. Title: Re: Is the blood on the street drying up? Post by: Le Happy Merchant on March 10, 2015, 06:51:12 PM It looks like some upward pressure is building and I'm not sure I like it. This rise is fast enough that it looks like another bubble. It would be better, IMO, if we saw a rise of $5-6USD per week. But whatever. For the moment I'm going to stop buying and move into a spending phase. Remember the best time to buy is when there is nothing but pessimism and "blood on the streets". Now that we are rallying it is a better time to spend coins and take some profits. So the $230 bitcoin you bought last week is now super money worth more than what you paid. Or maybe you have another strategy? Do tell. Even whispering bubble isn't justified until $1251. I think a preposterous upswing in price is just what's needed now to finally get mainstream adoption up and running, people will be sprinting to their banks if they know the story. Title: Re: Is the blood on the street drying up? Post by: okthen on March 10, 2015, 07:11:36 PM It looks like some upward pressure is building and I'm not sure I like it. This rise is fast enough that it looks like another bubble. It would be better, IMO, if we saw a rise of $5-6USD per week. But whatever. For the moment I'm going to stop buying and move into a spending phase. Remember the best time to buy is when there is nothing but pessimism and "blood on the streets". Now that we are rallying it is a better time to spend coins and take some profits. So the $230 bitcoin you bought last week is now super money worth more than what you paid. Or maybe you have another strategy? Do tell. i think that's a bad idea given that the historical ramps have been on the order of 10x. +1 ^^this^^ it's understandable that people have forgotten how crazy high it can get after a 14 month bear market. Remember all it takes is 0.2%of world population to decide they want just one bitcoin each, and it would be impossible even at $1 million/bitcoin. I think what's strange is the fact that it's happening so fast and right after capitulation, thought we'd go sideways for a while first Title: Re: Is the blood on the street drying up? Post by: ThatDGuy on March 10, 2015, 07:21:40 PM It looks like some upward pressure is building and I'm not sure I like it. This rise is fast enough that it looks like another bubble. It would be better, IMO, if we saw a rise of $5-6USD per week. But whatever. For the moment I'm going to stop buying and move into a spending phase. Remember the best time to buy is when there is nothing but pessimism and "blood on the streets". Now that we are rallying it is a better time to spend coins and take some profits. So the $230 bitcoin you bought last week is now super money worth more than what you paid. Or maybe you have another strategy? Do tell. i think that's a bad idea given that the historical ramps have been on the order of 10x. +1 ^^this^^ it's understandable that people have forgotten how crazy high it can get after a 14 month bear market. Remember all it takes is 0.2%of world population to decide they want just one bitcoin each, and it would be impossible even at $1 million/bitcoin. I think what's strange is the fact that it's happening so fast and right after capitulation, thought we'd go sideways for a while first I'm thinking this is because the correction down from $1200 -> $200 was too much, and the market is oversold. BTC's value after everything that improved in the infrastructure since summer 2013 means it probably belongs at a value quite a bit above $200. Title: Re: Is the blood on the street drying up? Post by: Mieehayii on March 11, 2015, 06:53:47 AM good wits jump
ALREADY set the sell orders at $295, I predict prices will return to $250 after a week Title: Re: Is the blood on the street drying up? Post by: Kipsy89 on March 11, 2015, 10:16:23 AM The biggest (and possibly only) chance for bears or people who haven't gotten on the train until now is that we bounce off of $350... That could push us back to $100 even... But I think we'll break that resistance!
Title: Re: Is the blood on the street drying up? Post by: waterpile on March 11, 2015, 10:32:35 AM My opinion is that it will still continue to rise in the $300-$340 and it will probably stabilize in that range for awhile.
Title: Re: Is the blood on the street drying up? Post by: Kipsy89 on March 11, 2015, 10:58:06 AM My opinion is that it will still continue to rise in the $300-$340 and it will probably stabilize in that range for awhile. How do you come to that conclusion? Definitely not at $340 or near that mark! There's a major resistance line around there and we'd be falling back into a falling wedge if that really happens! Title: Re: Is the blood on the street drying up? Post by: aso118 on March 11, 2015, 03:27:47 PM It looks like some upward pressure is building and I'm not sure I like it. This rise is fast enough that it looks like another bubble. It would be better, IMO, if we saw a rise of $5-6USD per week. But whatever. For the moment I'm going to stop buying and move into a spending phase. Remember the best time to buy is when there is nothing but pessimism and "blood on the streets". Now that we are rallying it is a better time to spend coins and take some profits. So the $230 bitcoin you bought last week is now super money worth more than what you paid. Or maybe you have another strategy? Do tell. My strategy is to be happy with the paper profits that I have made. I do think that the pessimism associated with bitcoin's price is finally lifting and a bull run may be in order. I definitely don't want to regret missing out on it. :) Title: Re: Is the blood on the street drying up? Post by: waterpile on March 11, 2015, 09:35:34 PM My opinion is that it will still continue to rise in the $300-$340 and it will probably stabilize in that range for awhile. How do you come to that conclusion? Definitely not at $340 or near that mark! There's a major resistance line around there and we'd be falling back into a falling wedge if that really happens! Its just based on my observation like i said its only my opinion and lets just see what happens this coming days. |