Bitcoin Forum

The news and reaction is obvious. Yesterday, and all night the major trade signals have been to sell other than a couple of short reaction longs from bounces.

The Chinese government basically told the Chinese citizens to get the hell out of Bitcoin. But come on, no surprise here. Chinese people (those with money) work all week long on ways to get money out of China. So with the front door being closed by the chinese government, they will poke other holes in the Great Firewall of China (like they always do.) It's just a matter of time before underground cash businesses get set up to sell bitcoin, and numerous other mechanisms get set up. Rich people LOVE money mechanisms independent of banking. Bitcoin is the ultimate vehicle. So it's just a matter of time.

So what until then?

The big question is how much of the Chinese flush is over with, or is there more flushing. Once the flush is finished, Americans and EUROpe/South America can begin stepping up. The flood of buying this morning was when New York banking opened. So we'll know more after the Asia session and beginning of Euro banking.

I'll check back in later during the Asian trading session, and until then,

Stay Safe :  )

cj

http://bitcoincrystalballtrader.com/FlashBitcoin1218.png

Well, China has come and gone without another round of flushing. So I'm going to cautiously say that China has finished it's primary round of liquidation, and with some fresh buying coming in as Europe begins to wake up, it's a positive sign for bitcoin.

: )

cj

http://3.bp.blogspot.com/-IvT9L7a4zbg/Uj8n9iiQZ4I/AAAAAAAAKPU/w1_dCdbmbes/s1600/Currency+Wars.jpg

Via bitcoin channel  8)

An Interesting analysis of the recent BTC crashes, good job BitcoinTraderFX.

Thanks, very nice analysis, is there any way to get more  ::)?
I tried to suscribe to your website but its closed, no way to get an invite  :D?