Bitcoin Forum

What do you think? I think this is significantly different from april because there are many exchanges and all of them still have fiat still flowing in exponentially. So it might be more like 2012, or even be just a correction.

"August 20, 2012 - The bubble has popped. We arent headed up anywhere very fast for months. However, we aren't going down either - just a slow trend up." would be the best I think. It went way too fast the last weeks.

Bull trap? Correction?

Twas a beartrap.

Rawr motherfz.

Is a crash, really a crash, if nobody knows if its a crash or not?

This is more like a combination of panic buying and selling as the price moves nearly discontinuously. Its not even fair to call it either a bubble OR a crash, because the price is literally just jumping around with no meaning whatsoever primarily due to low liquidity.

If you use weekly averages, we are on rise trend.

From an EW perspective, we are after the peak of wave B (750$ on Gox), and within capitulation.
But now there are several million $ more in the order books resulting in buyer pressure.
On Bitstamp it's ludicrous, the price may even top the 755$ Bitstamp peak.
Quite weird, and high buyers will get burned badly if the breakthrough won't be real.
For me, the most realistic picture is China. They seem on track to properly end wave C in about 3 days.

I don't think we can stop this trend.   The "natural" behavior when folks are not dumping is a drift upwards.   Keep in mind that coinbase has run out of coins several times.   A lot of demand and the self reinforcing behavior is massively global.

I believe next bubble is starting and and unless someone want loose money in bear trap, we will see steady rise

If we hadn't just had this recent explosion of exposure to real investor types (US government = US investor class, there is no difference anymore), then this bubble would definitely be popping. However, I'm personally guessing that we have two growth cycles superimposed on each other out of sync, hence the total mess/mixed signals. TA is going to have to go and have a lie down, no one knows what's going to happen here. That said, if you had money invested on the US stock market, growing insanely in an otherwise screwed economy thanks to endless money printing, and you didn't own any bitcoins, and you were really rich, wouldn't it seem like a good idea to pick some up? It might not be a matter of a sane investment, just less crazy.

If the crash is on a Monday and it never goes below the previous Friday, then I'm gonna say that's not really a crash.  If it went to $200, now THAT would have been a crash.

nice poll  :)

We are in bubble and this was just a correction. There is increased demand, and will continue for month or two. Next corrections possible on the way up

It was a correction and we should go up a bit more.

1.  Bitcoin always goes up
2.  When Bitcoin goes down, refer to step one.

No matter what people say, this will be considered the most fun 5 days in Bitcoin history.

https://www.tradingview.com/x/3EsvAJYz/

Absolutely nuts. Today is the first day I've actually been able to relax since last Friday.

It's either up to 3000 or the slow long slide down, nothing inbetween.

A double correction with triple bubble with a small crash on the side.

I'd actually be bullish.Google trends have exceeded (https://www.google.com/trends/explore?q=bitcoins#q=bitcoins&date=today%2012-m&cmpt=q) April 2013.I don't think the rally is fake but obviously manipulators still do exist.

Wouldn't the difference of price now affect adoption by noobs though? I mean on April normal people could actually buy some coins. At these prices many will probably be turned away because they won't be able to afford even one piece.

"One piece" of bitcoin is still less than $0.01.

Check out coinbase

https://www.google.com/trends/explore?q=coinbase#q=coinbase&cmpt=q

bitstamp too

https://www.google.com/trends/explore?q=bitstamp#q=bitstamp&date=today%203-m&cmpt=q

and btcchina

https://www.google.com/trends/explore?q=bitstamp#q=btcchina&date=today%201-m&cmpt=q

Bitcoinity has become very popular too:

https://www.google.com/trends/explore?q=bitcoinity&date=today%203-m&cmpt=q#q=bitcoinity&date=today%203-m&cmpt=q

Hah,many were saying the same thing concerning the rally in April.I remember late last year many were saying $50 dollars would be the high and the price will go back to the teens.I have learned over the years stay with what you have and don't take speculation on downtrends too seriously.I also remember many individuals who bought at over 250 during the April rally and crash who simply sold and never stuck with it.....the rest is history so to speak.

I originally bought in at $8-12 and stayed with throughout.

I can't vote.

I bought in a little just there at twice the value that I sold my previous stash of Bitcoins at.

Aside from the odd spot of panic (stupidity really cos I wasn't panicking, just thought some profit would be nice), I have been bullish on Bitcoins since last September which is when I entered the market for first time as an intentional speculator (beforehand all Btc went to SR). On the eve of the crash, I turned very bearish (yes before the event, check my posts if you will), but the fact that Bitcoin went to the moon, crashed, yet is right back up on the moon again with 2 days, defies all logic.

Right now, we should be facing volatile fluctuations in downward trend but no, the coin seems to be shooting right back up, albeit at much lower volumes. I guess that the logic now points at higher prices to come in the near future.

However, the price is being held higher essentially by hoarding. Most of the Bitcoins in existence will have been procured for peanuts compared to the present market value. The creator of Bitcoin is believed to hold 12% of all Bitcoins in existence. Ignoring all the other mass stashes of Bitcoins procured for relative pennies, 'Satoshi' could wake up one day and decide that his scheme has earned him enough to buy him his luxury Carribbean island and yacht to live out his days on, and decide to dump his 12% on the market. If someone like that decided to cash out, it is likely that he would not 'dump' his coins in such a way that initiated panic and crash, thus financially wounding himself. However more worrying, is that a cabal of establishment financial institutions may have control of a large share of Btc's with the intention to one day smash the market in to such oblivion, that the whole Bitcoin and alternative decentralised crypto-currency phenomena is killed off.

Bitcoin is like a great big hot air-balloon, with enough propane to reach unimagineable heights, but made from canvas so fine that the slightest bit of friction could tear it apart sending the whole aparatus crashing back down to earth.

This is what new entrants into the market are buying into.

Although I have been interested in Bitcoins intellectually since way back, have used them to make SR purchases since sub $10 days, and have even made a little profit speculating in Bitcoin just recently, since up until 30 minutes ago I owned no Bitcoins, I must class myself as a new entrant and be aware of exactly what I am buying into.