Bitcoin Forum

i see allot of user that say it will go down some want to buy under 70 some at 50 ......god knows

well even if you say the price will go down and you are bearish about the price(sentiment) your action is bullish since you only can buy

Yes, it is definitely different from the $2 low in 2011 where people were not sure if Bitcoin would even survive.

Now it is about the price going down so you can get your hands on some bitcoins. Not all that bearish.

I don't quite understand you. Are you saying that bears are just bulls in disguise? I'm a short/mid-term bear, long-term bull. I think we'll see prices between $32 and $50 in the coming weeks/months. It's not that I want it to happen, but I got burned by being a perma-bull in 2011, and I'm just trying to be realistic. As the long, slow slide continues, we probably will start to see a lot of people saying bitcoin is doomed. The selling pressure after $50 is breached will be immense.

Only bears got burned in 2011  ;)

lets say i sold all at 200
i want to buy at 40

the question is what if it never gets to 40 ?
what's my influence on the market ? i already sold i cant push the market down even more the only thing is buy
sentiment = bearish
action=only buy=bullish

A few whales could definitely collude to manipulate the price downwards. You could, say, buy 50-100k btc at $10, wait for sentiment to turn bearish (like now) and slowly manipulate the price down with dumps/imposing ask walls, all the way down, until your bids are finally taken.

As for me, I'm doing my part by shorting on bitfinex. ;D

I actually agree with this..

There's a reason we have huge buy walls, and that's because people want to buy at that price.

The fact that people are selling into the buy walls is great news for the upward movement of the price.

It means you get BTC being transferred from people who think the price is high and want to get rid of it, to people think it's cheap, and are likely to hold.

I bought some at  98.75, am I crazy. Yes, I admit I got caught in the panic, but the fact people were driving the price up to me signals that these 2 digit prices we're experiencing are awesome!

There's no way of knowing whether they're likely to hold or not. I had bids in the the $80s, and I've sold most of them over the course of the day.

That's why the down move will not be a continues smooth slide - but rather a series of bumps.  Soon there will not be people that sold at 200 and want to buy - but rather people who sold at 200, bought at 140, sold ..., bought ....  Some of them will be earning on each sell/buy rounds, but probably most will be bleeding slowly.

+1. There is certain wisdom behind a $5000 VIP tag ;)

Yeah I must admit I'm bleeding slowly from doing this. Mainly due to panicking and doing the wrong thing

You can short.

Makes sense, why would a true bitcoin bear even hang around in these forums?

That said, I think it's interesting to see how people get more and more optimistic as price goes up, and more and more pessimistic as price goes down, when really it should be the other way around. I'm not blaming anyone, I'm a victim of this myself. Guess it's just recency bias.

I get relieved when price approaches the buy or sell points I have picked out, and nervous if I start running low on either fiat or bitcoins in my account, but at the moment I like moves in both directions.