Bitcoin Forum

Apparently a good day to be a bear?
Time to sell?

I don't really see anyone other than a very weak hand selling at the moment. It will most likely fall for a while but when that fall stops... be ready.

The market has been oddly quiet the last two days, should be interesting

That's the same thing you were writing last August - it did eventually stop - but in terms of time frames you missed completely.  I don't really think that it will be repeated this time exactly but it was not 'weak' to sell last August.

This is what I observed:

For about two - three days (Tuesday - Thursday) the action went as follows: Price was around $10.5, what followed were a bunch of small volume buys driving the price slowly up towards $11.2 and then somewhere around that price BAM someone sells a few thousand BTC all at once driving the price right back down to around $10.5 and this repeated a few times. Yesterday and today on the other hand things have quieted down significantly and to me it seems there's a standoff between buyers and sellers testing who's going to give in sooner.

As I sold at $10.78 yesterday my bet is on the sellers and I believe we're going lower for the short term.

Hold on!

I saw someone sell 7,500 BTC today, it took the price down to $10.

Am I getting lucky with my prediction?

$9.87
I dunno, you tell me.  ;D

at what price do you have buy orders?

At the last one  ;)

Where's adam for this?  Single digit coins for sale!!! What's that noise? Oh its me snapping them up, lol.

Look at the wider markets...the world is J hole crazy today

this might not last long

J hole? ???

+1

sigh

Federal Reserve chairman Ben Bernanke's annual remarks at Jackson Hole WY...primary driver of today's market action

Not placed yet, I speculate I might try and buy between $7.5 - $8.5.

"But taken together, the speech sounds a lot like Mr. Bernanke's closing argument in favor of more easing." http://online.wsj.com/article/SB10000872396390443864204577623220212805132.html

They'll have to do it eventually, especially since the crash that would follow the already 60% priced in easing but that wouldn't come would be of epic proportions and they can't afford to let that happen. They rather destroy the dollar, I'm certain of it. Either way it's the end of their system.

lol you're already very late if you still have to sell, better be quick before it hits 0

+1

Except all the fed's "assets" are long term treasuries, and if they don't prop that they will be fucked.  There won't be anything left for the stock market.

yes, they have rather painted themselves in to a corner haven't they

We Austrian economists always said that that's where their actions will ultimately put them - in a nasty catch 22.

http://www.youtube.com/watch?v=d0nERTFo-Sk

Full moon tonight.

MST 7:26 sunsets.

Someone pretty large doesnt think its going that low.
https://i.imgur.com/Rvjys.png

Perhaps but I didn't buy regardless. It's just the beginning of the (in US extended) weekend and I'm still not convinced there's much potential upside in the short term.

Daily MACD is about to cross zero line downside...

http://img844.imageshack.us/img844/4874/bitcoin59.jpg (http://imageshack.us/photo/my-images/844/bitcoin59.jpg/)

Take BTC and buy gold from Coinabul.  Further stimulate the gold markets and simultaneously stimulate the Bitcoin economy.  Win/Win.

Freefall started

The problem with MACD is it depends on how many datapoints you feed it.
Hence wether it crosses or not depends on what time resolution you see a given time period.
Also, not freefalling.

looks like the same floor to me so far

If speculators can get a substantial amount of bitcoins back from Pirate they may be tempted to cut their losses and exit bitcoins, especially if the only reason they bought them was to speculate on the hope of getting paid 1% per day.

If Pirate fails to pay a substantial portion of his fund then that may be good for bitcoin's price.

How many of those pirate people actually bought bitcoins just to take part of the pirate thing ... I would say its more likely that people already in bitcoins jumped on the pirate thing in which case I doubt the reaction of the sell off would be that much

Yeah I agree, I speculate that a sell off will come if the price for what ever reason drops a bit, especially now after everyone got spooked a bit with the latest pop of a bubble and the pirate uncertainty looming over everyone's heads.

I dont think there's a single thread in this forum that doesn't mention Pirate.

Well that's what happens when you are such a large part of the Bitcoin market.