Bitcoin Forum

The lines have crossed and the drop to next level is coming along. I would strongly advice peeps to drop their load right about now while you got a chance.

I am not happy saying the above but that's what its about and a sincere shout out to homies~

what evidence makes you think so?

The same evidence which I quoted accurately last time when came down from the 1000s highs. Fundamentals and technicals together~

Woah. These two terms are really technical. Would you care to explain it a little more in layman's terms?

Sorry, by fundamentals I mean news, prospects etc. By technicals, I mean analysis based on historical data, volume etc. Its on the edge and you may see something like going from 600 to 450.

Once again, not happy saying this but that's where I feel it stands.

So, since you've tried to explain it 3 times, you didn't think it would help to include your source, your analysis, or a picture of your sister's rack?

You have to post one of those things in order for me to take this thread seriously.

This place is becoming so damn empty with all the people on ignore.

I think OP is trying to profit by creating FUD. As far as I can, the fundamentals and TA indicate a steady, level, sideways movement for the next few days at least. If anything, it will probably go up to $500 by end of April.

I don't need to make a silly post over here to profit. A small post is not going to affect the way BTC is going don't you think? Its not a sideways movement if you take into consideration volume, MACD, divergence and other things into effect.

Now, if I post a chart, people will complain that charts don't mean anything. If I post news, how am I supposed to post the trove of news and study on which this is based upon?

I would suggest you get an idea of indicators at a basic level using some charts.

http://bitcoincharts.com/charts/bitstampUSD#rg60ztgSzbgBza1gWMAzm1g10za2gWMAzm2g25zxzi1gCCIzi2gMACDzv

( extreme dumbass denial mode ON )I think the OP is just trying to create FUD  ;D ;D ;D

https://www.youtube.com/watch?v=V_ONyukSLqA

Amazing song  ;D

lol, this thread is ridiculously hilarious. "i use technical analysis. here's how i did it. i used technical analysis. i was totally right the last time when it dropped from $1,000." yes, i will take financial advice from an armchair investing expert.

What lines?

Are we entering a world of pain?

Sorry to be another newbie armchair analyst but I don't see any common technical analysis patterns in the https://bitcoinity.org/markets bitstamp chart when I tried to look for them. What exactly did you find?

I mean the only pattern I can find as for current events is
1. bear market
2. we may have recently hit a double or triple bottom (indicating an upturn) BUT the time between the bottoms is days not making it reliable. This means most likely nothing, but if anything, we should have hit bottom and the market is now testing the price, right?

As for fundamentals the fundamental value of bitcoin never depended on China, despite how recent news have been about China. So nothing there either except reason for squeamish people to sell.

So, what?

LOL, poor OP probably didn't expect such hostility by the bulls. OP, it's all good if you had genuine intentions at heart, but if you just wanted to make a quick buck, FUD doesn't work any more.  ;)

best TA ever

AGreed ...OMG the MACD lines are crossing under thats a 100% sell signal ....lolz

Crypto does not really do TA that well..having said that sure sell now in a bearish market ...lets see where we are @ with teh china crpola

Im all in so really dont care... I am buying all the way down ;)

LTC sub 10 ...yumm yumm :D

Unless you jokers are predicting teh demise of crypto .... ho hum to the chinese ping pong ...BAN=Ping UN-BAN=Pong

Please hold on to your precious and we will see how you feel when it gets into the 300s.

sold earlier to buy lower, and now is 3% lower. Hope we go to sub 400, like the last chinese ban

You can look at this and decide for yourself. Historically this would be a terrible time to bail out.

https://docs.google.com/spreadsheet/ccc?key=0ArD8rjI3DD1WdFIzNDFMeEhVSzhwcEVXZDVzdVpGU2c#gid=1

Yeah right, nows the time buy. Its gonna take ALOT to totally kill off bitcoin

Actually I wasn't sharing any of your thoughts against TA.  I just thought it was funny how he vague he was and didn't mention WHICH lines were crossing.

I must agree with the OP. As the price continues to drop, I continue to bail the F out... of fiat!

http://i58.tinypic.com/110c8ec.jpg

 ;D

:D

DustyRah; not sure which lines you were looking at, but your'e damn right!, looking at the price, it's down almost $100 from 3 days ago.

The price at this second is $426 not sure what the heck is wrong with it, but it seems to keep going down so far, I hope it comes back to live again...

Regards
Heider

I am a long term bear, but I must say that I feel a big drop coming.

This recent rally was a laugh, and I knew it would not be long before it would test the $300's lows.

Everything is ripe for a big drop. The rally failed and the big reason is volume has dried up as the price continues to fall.

People still do not realize that bitcoin has rose too fast and should not be priced at these levels especially without the Chinese not being able to use it to launder money.

My feeling is that we will be in the $200's shortly.

"pls everyone panic sell me BTC for pennies on the dollar pls" -DustyRah

Dude, Awesome graph MNDan.. Finally some brains around here.. All though, I don't think it's going to get any better soon.. Right now we are seeing a 30 -> $2 type trend.. Wouldn't be a bad idea to improve your coin count right about now.

So, your strategy is to continually buy into a losing position, compounding the rate of loss each time? Yes, good pic of what you are doing with your money indeed.

The ones who are buying and holding now will be trillionaires shortly

So you have some opinion of bitcoin reaching some ridiculously high price in the future based on some lofty speculations. Great for you. That STILL doesn't mean you have to gamble with your money in the present trend. If you simply wait until the 1W MACD crosses up and buy then, you will most likely perform much better than you are doing with your attempts to try to 'average down' or guesstimate the bottom. Right now 1W EMAs are at 500/535 and declining, meaning it wont get above those levels without a 1W MACD cross. There's a small chance that 1W MACD will perform just a little bit more poorly than your strategy but in in that case it would be a negligible amount and you wont be left behind by any means. As an added bonus, you will be removing yourself from the risk of total loss if there is some catastrophic event with bitcoin in the meantime, and you be able to keep your capital to make profit on other trades before the signal is given.

They would already have been billionaires if they were so smart to begin with. lol!

Why not quadrillionaires? No need to be excessively bearish :P

The fad phase of the past three years is over and bitcoin's price should unwind to nearly $0.

1. Intrinsic value is worth next to nothing, possibly not even pennies.  Buffett's right - Bitcoin is no more than a decentralized money order with the added drawback of long-term capital gains tax on any price fluctuation.
2. Price is supported 99.9% by speculation, 0.01% by intrinsic value.  People using bitcoin for its intended purpose are in the minority.
3. Most speculators are still long coins and haven't capitulated yet.  There's MASSIVE bearish downside potential from all of the longs who haven't seen a really big bear market yet.
4. Price catalysts are exhausted.  Virtually all potential early adopters with capital have put their money in already.  There's not a constant flow of fresh capital to sustain a bubble doubling every 6 months, so some sort of unwinding down to intrinsic value ($0.01 per coin) is more likely to occur than not.
5. Downtrend has sustained momentum for 5 months.  The current bear market has beaten all previous price collapses, which rallied after 3 months and showed decreased momentum after 1-2 months and a sudden, sharp rally at the 3rd month.  In more general terms, "this time IS different."  In percentage terms, the current collapse is accelerating.
6. Media attention rallied the price after all of the other bear markets due to drawing in more early adopters, but this time it's generally causing longs to lose interest and sell since the early-adopter well has dried up and the mainstream definitely isn't going to use bitcoin.

Disclosure: I don't own bitcoin!  Just saying it like it is!!

Why are you toe raggs even here ???

Seriously ChatRoulette is the place for you guys... 8)

Way to just throw your money away.

Did you know that it takes a 200% profit to break even on a 50% loss?
Something to think about! ;)
It grows exponentially too

Until something outstanding happens, I think the op is right. This 450 looks like another drop before the next drop to sub 400. We went all the way down from 800 to 750 to 690 to 666 to 580 to 520 to 490 and so on... Slowly and painfully.

I hope I wrong but I don't see any light in the dark at the moment :/

This wave does seem a little 'stronger' and closer to the bottom than the previous one,  because more volume is being done by USD exchanges in the upper channel of the downtrend than there was in the last wave. Someone is accumulating early, expecting the next bottom to be the final bottom.

Here you go...
 
... a perfect example of someone who have no idea what's they're talking about  :)

Enjoy your day mate!

Cheers
Heider

BITCOIN IS BELOW ITS LONG TERM TRENDLINE. THIS IS BUY TIME

IT WAS BUY TIME EVEN AT $1000 BECAUSE IT HAS SUCH A STRONG TREND THAT IT WAS WORTH OVERPAYING(TO GET A POSITION)

NOW IT IS MONTHS BELOW WHERE IT SHOULD BE(Should be ~$650 right now, rising at .6% a day). AKA FUCKING AWESOME TIME TO BUY.




Here are the price details of VWAP:

Dec 1 2013 $280
Jan 1 2014 $336
Feb 1 $402
March 1 $483
April 1 $580
May 1 $694
June 1 $835
July 1 $1002
Aug 1 $1202
Sept 1 $1442
Oct 1 $1730
Nov 1 2077
Dec 1 $2493
Jan 1 2015 - $2991

ATH $1125 to be reached on July 23

Judging what I've seen yesterday, I will give it another 1.5 hours before I decide to buy,.

... great time to have a shower :)

I want what you are smoking.

Well apart from all the shouting he is actually right / conservative. Most people who know what is bitcoin agree that we are sitting on a rocket now. Buying coin now is just as smart  of a move as buying them at $5 in 2012 and $100 in $2013.

When we're talking about such huge numbers in increases  I don't see what the point is in in jumping the gun and buying early into a downtrend, rather than waiting till the downtrend reverses and confirms into an uptrend.  Let's take the increase from $5 (pre bottom) to $6(post bottom). You could have bought either which then increases to $1000. Does it really make a difference whether you bought at $5 or $6? The difference is that at $5 you were buying into a downtrend and then $6 came 6 months later after a reversal was confirmed and at $6 you are buying into an uptrend. So you paid an extra $1 to get security and immediate returns with your investment. Meanwhile, you gain 6 months to use your captital in some other crazy investment, potentially increasing it 10 times, so you can buy 10 times more coins when you're done.

6 Billion is a very small market cap... that is all, think about it.

Why do you guys keep talking about market cap?? And I'm not mocking anyone, it's just I can't see this term's utility in Bitcoin. We can trade 100 coins for 1000 USD daily, that doesn't mean the market cap is 12 Billion.

If you read any small print on any type of investment, there is one thing you will notice. PAST HISTORY DOES NOT IMPLY FUTURE PROSPECTS.

It does not matter what the price was and so on, what matters is how its weighing up right now. This crazy ass Chinese commi crap has to end before we see any stable direction on either side. It is bottom heavy at this time.

I agree with that. $5 (on the way up) was when it was obvious that downtrend is broken / it consolidated there for quite a while / so that was a good place to buy, risky it was at $2-3. So the safest time to buy now would be on a way up, at about $800, however I do believe we are near a bottom and do not really care if there's much downside left yet or not, so why not buy double of what I'd buy at 800, right.

I am not sure it's on the bottom at the moment, people are assuming that it's China only. However, there are a lot more factors involved which are bringing up or down such as (current):

On the negative side:
1) Starting with MTGOX, I think we all know the story which brought it down almost to half.
2) Chinese government preventing it's banks from using Bitcoins etc.
3) A state in America banning Bitcoin transactions in wine-trading due to younger age etc.
4) Boris Johnson (UK) announcing that the currency is untraceable and used in all sorts of criminal activities when abroad etc.
5) Google removing some apps (screen savers) after discovering they have malware to do BTC mining.
6) Amazon not wanting to use it due to huge fluctuations in the US/BTC rate when interviewed.

On the positive side:
1) MTGOX's story about the currency being vulnerable to forging seems to have no real base, some speculations of; most likely he took-off with the money and filed for bankruptcy...
2) Banks in the US introducing the first BTC machine to use it publicly.
3) Some worldwide stores and traders are starting to accept BTC.

Now, theories that might be said to take it "really" down or cause havoc:
1) What if MTGOX theory of someone forging a BTC (i.e. copying it to many or something) is actually correct?!... Just imagine someone pumping BTCs into the market to dry out USDs?!..
2) What if another government decided to ban the use of it just like what China did?
3) What if China decided to "Oh you know what!?... We LOVE BTCs, who said anything about Banning?! :) "...
4) What if China have decided to make it's own BTC instead?!... I know... long shot, but what it?!...
5) Litecoin around the corner growing up ?!...

Anyway, please don't think that after this downturn that things are going to be hunky-dory,.. there is a lot  going on at the moment and yet nobody knows the future for sure.

Stay wise, that's all I would do for now... Or, use the force Luke... 

Regards
Heider

I believe you may want to read up on Transaction Malleability (not that it's even proven that was the reason for the loss). There is no such thing as a forged or copied coin. There is, however, such thing as a fat idiot who writes SSH servers in PHP not correctly implementing the protocol AND not accounting properly. And being fat.



(I'm not bitter or anything)

Belly fat is bad for brain, that's a fact  ;D

I usually go to guys with names like Dustyrah who tell me to get the F out while I can for investment advice. It leads to great success.

All I can say is prepare yourselves to buy back in more if the price falls.  This is an opportunity if you ask me.

They're shaking weak hands, HODL!! :)

Well said.  This is the same old story lol.  I wonder how long it takes for people to understand it.

equity investmnet is usually for 2-5 years ...so instead of everybody looking at the "GET RICH QUICK" scheme not panning out within 4 weeks

nigga please .....you gotta smoke ya crack and biatch slap ya whores ....by jizzle my fizzle crypto investments dont need no minding  8)

lol!  ;D

Check this post when I gave out the GTFO signal...https://bitcointalk.org/index.php?topic=413064.0

"The stock market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient." - Warren Buffett

Applies to the bitcoin market just as well  ;D

If by dropping you actually mean rising....ok then, I buy that.

Nice post, Donald Sterling.

Am I right to see the lines crossing again the other way now?!...

If my "theory" is correct, then the price should be going up from now on hopefully...

It would be nice to see what you think?

Cheers
Heider

... and... another cross reverse to go back into "Don't Buy yet" mode ..:(

Still quite bottom heavy...but its a good sign that its holding around 500 for several weeks now. We need some kind of major good news or capital influx to get over 600 and hold there for couple weeks to see any type of positive trend. Unfortunately, at this time its still bail the F out....

Even the strongest hands will fold eventually. Once the prices plummets and they realize that the game was rigged from the start, they'll cut their losses and fold. There were some extra aces in the deck, and they all went to the insiders. They hoped nobody would notice, but here I am. It's my job to spread the truth.

Activity: 0

lol!

Worse than when I gave the signal first. Bail out while you can or at least don't buy any more till the ball comes around.

Long term hodlers don't need to worry, it will come back around sooner or later.

You are absolutely right my friend... I fully agree with you.


... Quoting Trinity talking to Neo upon his death from the Matrix Part-1 movie:

"The Oracle told me,... I will be in love with a dead man... So you see, you can't be dead, because I love you..."

I reckon, the price will not come up again until it's dead... call me crazy, but this is how I personally see it, it will never hit $500 again until it's back to $370 at least... that is, if it would ever come back to $400 soon...

I'm still on the "Dont buy yet mode...", watching with a :)

Regards
Heider

When?? Im quite tired of waiting..

Soonish...

Nice to see that this kinda threads are instantly moved to speculation :D

BTC's weener appears to be getting a bit aroused at the moment...Its appears to have bottomed out though its quite bottom heavy still.

Have we dropped to the "next level" yet?

next level is coming, achievement unlocked.

Please stop the FUD. Ever since OP posted this, btc price has been either steady or rising.

What's the next level down? $400? That'd be about 10% drop from current $444. Maybe in 2 days.

However, the recent trend is Up, not down.

Which trend are you looking at, all I am seeing is down.
https://i.imgur.com/vT8zzyt.png

... Dry Volumes...

Another dip on the way ?!!!

The reality is that if EVERYONE thought the price would go to $100, then the price would already be at $100. The current price IS what the traders feel is reasonable.

As I mentioned, BTC got a little boner couple days back and so the downtrend has stalled for the moment though its is still heavy on the downside. Some type of mega good news may get us out of this rut but overall its taking a nap with its ass off the end of the branch like a Panda at the moment.

Meanwhile, a month later still no drop to the "next level".

Its not my fault if BTC got a boner now is it?

Ok, jokes aside its pulling itself back out of the rut at the moment. Low volume and real slim shady right now...

In what part of the world does 13 days constitute one month?

An asteroid orbiting around the sun between Mercury and Venus.

Hmm, our month comes from the time it takes for the Moon to orbit the Earth.  The Moon's orbit has been changing over time.  A very long time ago the Moon would have taken 13 days (which isn't fixed length either) to orbit the Earth (long before there were any people to count them) http://lasp.colorado.edu/life/GEOL5835/Moon_presentation_19Sept.pdf.

Of all of the known moons of our solar system http://solarsystem.nasa.gov/planets/profile.cfm?Display=Moons if we look at the orbital periods http://www.windows2universe.org/our_solar_system/moons_table.html, Oberon http://www.windows2universe.org/uranus/moons/oberon.html has an orbital period closest to 13 Earth days.  So, I suppose someone on Uranus *might* choose a month to be 13 Earth days based on Oberon's orbit but it would be inconsistent since the Uranus day is only 17 hours long.  Oberon is also not the largest moon but it's close enough in size to Titania to be excused.

On the other hand, since Mercury take almost 88 days to orbit the Sun http://www.astronomynotes.com/tables/tablesb.htm, an asteroid would have to orbit much closer to the Sun than Mercury in order to orbit in just 13 days but even then no one would likely call that a month.

Its trying its best to get out of the downtrend but its still bottom heavy and that's keeping it tied down.

Really need some major good news to get it over the hill else we are all on a slow boat to Bangkok...

Lines are crossing back,... Big dip on the way!!!

I'm having a bad feeling this time :-\

Yeah, now it is really going down.
Bearish!

Brace yourselves, Amazon is coming...

The more people get hyped up to imagine that Bitpay is going to announce integration with Amazon, the worse it is going to be when they announce Richard Branson came round for a cup of tea or whatever.

Let's set the bar a little lower on this one  :)

Have we hit this magical "next level" yet?

Positive CCI and divergence finally...

MACD, Exp still bottom heavy...

I think that this crash was a very reasonable correction. With the drama of Mt.Gox over and the fundamentals of Bitcoin as a currency/security largely unchanged, I think we will begin to see some upward price movement.

Passionsurf, you are absolutely right. This is who markets work, and Bitcoin is, I guess, primarily motivated by people sentiment. There is no money flow as in fiat currencies, no inflation-connected threads as with fiat currencies, no interest rates that are the primary driver of international capital.

Forget about predicting Bitcoin long term price with the use of technical analysis, especially indicators. I’ve been trading Forex since 2008 and got a bit of experience in different market conditions. I am not saying I’m a know-it-all, but I can surely tell that technical analysis is mostly outdated. Think about it, TA was developed (evolved significantly) in the XX century, and at the end of the 90’s was popular among traders who looked at the charts in the same way, because they used the same tools of analysis. Same tools=same opinion, so it was enough for one of those traders to pull the trigger earlier than others, and as others saw that an expected move is starting to happen, they joined in, contributing to a further unwinding of that price move. It was a self-fulfilling prophecy. Trading at that time was easy, as traders shared the opinions, if they saw x (e.g. head and shoulders formation), they expected a specific market reaction at the right-side shoulder of that formation. And so on. As computers stepped into average households and brokerage firms spotted a new market for individual traders, they developed easy access for the masses. And this is where things got complicated. A further growth of technology (computer algorithms, automated trading, HFT) contributed to a further complication of a market that in the past was quite simple. Another factor that I will not discuss is the mess made by all kinds of government interventions, QE both in the US and Europe. As a result of those factors combined, long-term price prediction on the basis of TA is not an easy task (*price prediction with high accuracy, I should add).

If a market guru is 50% of the time right, he is really market crap. Keep in mind one thing about market gurus, if he makes a claim in the past and market actually does what he said it would, then he is a guru, newspapers write about him, blablabla, but nobody remembers about the other “gurus” who were wrong. It is enough that one of the self-proclaimed gurus says “it’s gonna go up” and the other says “it’s gonna go down”, both of them have an equal chance of becoming a “guru” in the future, cause the price will either go up or down, as simple as that, and nobody will remember the other “guru” who was wrong.

Technical analysis with a satisfying accuracy level is only possible in short term, I trade intraday, using indicators and some common sense (plus fundamentals as they support market sentiment), and I would never even think of touching longer term trades. I’ve seen too many people try and fail, or try, manage to do it for some time, and fail as they thought that they CAN do it (you can imagine that as they started feeling confident with their analysis they started trading with higher stakes…).

With regard to Bitcoin, I strongly believe that it will behave similarly to markets in the 80’s and 90’s, where price movement was created by traders themselves. Bitcoin market is similar. People believe that it should go up, and make it go up. Then they are afraid that it will loose value, so they start selling, contributing to the downward movement. Same as with stocks. Of course some bad news (fundamentals) contribute to the panic setting in, news like China bank warnings and bans, exchanges bankruptcies, security issues. If people understand that they are the ones creating the price and its movement, Bitcoin price will have the chance to go up to 10k USD.

I am in favour of further Bitcoin increase in value and I hope that there won't be too much shouting for it to drop down.

... Well, let's hope that we don't another exchange collapse similar to MtGox this year, cuz this would "really" make our day !!!

Anyhow, let's hope for the best for everyone.

Cheers
Heider

From what I saw everything looks fine. Some bitcoin based hedge found was created and china (china is only 7% of bitcoin volume) exchanges finally are moving offshore. Everything is going in right direction.

eBay said they're "actively considering" Bitcoin integration. Forget about what OP said people, BTC is going to jump.

Cryptsy is a total mess, google: "Cryptsy negative balance".
Now they are also building USD markets.
Prepare for implosion and BTC with it.

Its related to blockchain updates etc and there is nothing indicating that Cryptsy is in trouble like Mt. Gox.

@DustyRah,

Has it dropped to next level yet? If not, when?

I'm earnestly asking, because it has NOT dropped to next level or any level. What do you mean by "next level"? You mean, down to $300?

Haha, the planets have almost lined up.

Yes, at the time of posting it was significantly bottom heavy and was heading into the 3XX level. Now it has been trying to pull its ass out of the rut for the past couple weeks but still is a little bottom heavy so its staying where it is until time it can get out of this rut.

Any buyers, I would suggest wait till a proper bull momentum builds, else any tiny bad news will drop it into the 3xx level because of its bottom being so heavy.

@dustyrah,

Where do you see the heavy bottom? Or are you talking out of your butt? No pun intended.

Guys

Can we keep it professional please?

The guy was doing his (or her) best to help, and you are only slagging him off by bullying him which isn't fair.

The price *did* go down at the time of posting, and for that at least I am thankful for posting his thoughts which has helped me to understand something I wasn't aware of before.

For the love of God, let's stay focused, shall we?

Kind Regards
Heider

Very few nice person over here, you are one of :)

WTF?  Help what? By trolling and be completely WRONG in the process?  Mmmkay.....with help like that, we'd all be bankrupt.

Can someone tell me what the next level down is going to be?  Or how about the next levels down?  I really need to know!

/s

Right now its not going anywhere but it has made some headway in the UP direction. Its trying to get into positive territory but then again these days we don't have any major news so nothing is tight at this time at all.

That's already mostly factored in to the price unless we get more news. Though I do think we're going to see the price start rising again soon.

No, but I need levels!  Exact levels of up or down-ness!

Good, then we'll be able to quickly drain them dry of their reserves:
http://www.youtube.com/watch?v=RKQ3LXHKB34

 ;D

If it goes down, we are looking at a lazy listing down into $300. I don't think there will be a major drop and end up in $200 at all.

IF it goes down??  WTF? The title of the thread is "BTC dropping, bail the F out"!!!

Makes me chuckle.

nice chart(not mine)
https://i.imgur.com/op4NsC7.png

This is a stupid chart. There are reasons for the surge such as China wetting its beak and so on which are responsible for previous peaks. However, any type of bull run we could anticipate such a surge in price but whether such a bull run will occur is not guaranteed just because of a dumb chart showing the past trend.

I disagree, the chart seems pretty fitting, 3 points of contact on the middle band, only broken once during the "super bubble"  of 2011 (which pretty much breaks any chart). On the low side only 2 points of contact but it has never been broken and it has shown a lot of resistance whenever it approaches that line.

Also, it seems to bounce between the middle and lower band at regular intervals and predictable patterns. It's not unlikely to see bitcoin shoot towards the middle band or even the upper band soon. Regardless of the news.

don't know how you guys get off with completely ignoring a whole 1/4-1/2 of the chart as some kind of irrelevant outlier.

... You know, I could be wrong...

But, what if I was right... Even though the price went up to $500 today, with what I am seeing now, I have a feeling that it's gonna dip back down to around the $440 range very soon.

... Hopefully time will tell...

Regards
Heider

@OP,

Get the F out of here!

BTC just done the opposite of your prediction. Instead of a "drop to next level," it rocketed up a next level.

Bears can only see the trees but not the forest.

OP and his bear friends be like:

https://www.youtube.com/watch?v=W0w5oGVwJ_Q

So did we drop??

Unless my monitor is upside down, price just jumped $50 :D

well, it seems to me that it can't break 500$.
Apparently bitcoin is not as bullish as expected.

Well there must be a whole bunch of sell orders at 500 from traders who bought in earlier. Cutting through that before heading up over it. Volume was high and then dropped so ....

So what we have here is....a failure to communicate.

Or...a Mexican Standoff?  ;D

Were is my $10 per bitcoin price?

Clearly, things are not working out for the bears.

2012 called, they found it ;)

Can I get time machine back to febuary 11th 2009?  And maybe a neon sign that said to google virtual currency, internet money, p2p money etc   :(

Come here, get a free hug. I know that kind of feeling. Heard about bitcoin in 2011 and thought about throwing in 1,000 bucks, but it all seemed so unreal and strange and 1,000 bucks was quite a lot of money to lose. Got in after the April bubble last year. But don't worry, I don't care if I have to wait 2 more years for retirement ;)

Well I have thought about this whole thing (not finding out about btc until now) and I come to the conclusion I probably should have read more online articles (someone plugged slashdot for me that I follow daily now) and probably should have stayed on the straight path etc.

Maybe it wasn't meant for me, but hey w.e least I found it now

The only real thing that will drop BTC out on its ass is if there is another competing virtual currency which takes off and surpasses BTC.

There is still time to get on the bus. Please note that I have always indicated that I am long term bullish. At the time of writing it was hanging off a cliff. It has obviously gotten better now.

A slow and gradual increase is better than an erratic up and down which will crack a lot of people out of this virtual currency.

I think the community that follows the coin is what matters.  Look at dogecoin.  It has an unlimited supply but yet is being used (in some form).  Dark coin and other ones are gaining in popularity for special features (and the people who use it may want extra security etc).

Bitcoin obviously has a great dev team, network support and a following.  So basically, I think its the user base that makes the coin successful (they pour in the hashing power and usage)

Long term predictions are not reliable most of the time. In financial markets people forget about those who were wrong and only praise the gurus who got it right this time. If the OP had been right, the comments probably would be written by happy bears. Forget about long term predictions, especially in crytpo currencies.

One thing worth noticing is that the BTCUSD price tends to follow what most financial instruments follow, i.e. simple patterns of behaviour like respecting trendlines and support/resistance. Those phenomena are strongly rooted in human psychology and perception of the markets, and investors are what drives the markets. Investors' psychology/perception/fear/greed will be manifested on the charts, here are some examples with a simple support/resistance analysis for the last few days:

http://s4.postimg.org/rtdx5e3h9/BTCUSD_uptrend_resistance_levels.jpg

This thread makes me laugh. I wondered who "bailed the F out"? Sucks to be them.

;)

Make it 600 ;D

first heard about bitcoin in April 2013 (i wish i heard about it sooner), started mining (with my GPU) and did some faucets. After a while i also bought a BFL miner. Then i forgot about bitcoin and i also lost my addresses (i don't remember how much i mined, but it's probably not that much, probably a few bitcents or so.

Then, a few months later i received my miner and than i started to actively get involved with bitcoin again. This was around november.

I'm pretty sure everyone here would, if given to opportunity to travel back in time by 1 year or more, buy bitcoins (or tell their past self to do so). However, it's still very likely that each of us here is an early adopter and we'll still get a very nice return of investment. Although most of us will most likely not be able to buy over 25 bitcoins i'd assume.

So basically in less than a week's time, btc went from 450 to 588 and it's over, bail the fuck out?

Um, nope.

That was the easiest money I ever made sleeping.  ;D

Guys,

Some people are missing the point or looking at this in the wrong way.

For whatever it's worth; "at the time of posting" the US/BTC price was $542, with the lines crossing, almost less than 24 hours later, again "From the time of posting" , the price went down into $423.

The message "then" (well, from what I understood) was to sell at $542, and then wait until it goes down significantly (i.e. the $423 mentioned above), and then buy. This would help people to sell when "hopefully" the price goes up again.

For that advise, I've been thankful, and still am.

I don't see or really understand why some of you are beating up the author of this thread, and judging what he said (almost 3 weeks ago) on today's date. With what's been said, I could imagine (a year later) the same people saying "...but you said; it would drop...etc, but now it's $1,000,000,000?!"...

Common guys, to some of you; please be more sensible and lets keep this professional, shall we?

Cheers
Heider

What if i told you that only TO DA MOON post are welcomed here? Get out of here you flaming troll.

So "bail the F out" is now professional??  Mmmmkay.

There's a difference between:

1) "Hey, if you're into market-timing, sell now and buy back in cheaper later."

and

2) "BTC drop to next level coming...bail the F out now!"

LOL, good grief.

Well, it really depends on how you interpret the letter "F"... :)

F could mean; "Front Door", "Fox", "Fish", or "Foot", or even "Falafel" ...etc. :)

Not that I know the person creating this thread in case you wondered for the record.

But What I'm trying to say is the guy (or girl) warned us about something, and "at the time of warning", it was true and did make sense. Don't you agree?

Yes, the language used could have been a little better, but still, was a million times more professionl than swearing at other members and being totally disrespectful. Not sure, trying to prove how scary they are perhaps!?... don't know...

If everyone agrees; I think the forum is getting pretty dated where all blaming someone about 3 weeks ago and forgetting that it was aimed at the time of posting (3 weeks ago, "not now") and that BTC price shooting up or down by the second.

Perhaps we should move on to do something more productive than showing how badly the point has been missed.

At the end of the day, what's the point when some are being nasty to others? Seriousley, how is that helpful?

No, I didn't agree. Nor did most people in this thread. There was no reason to "bail the F out". BTC was fine and sure enough, it went back up, like it always does. So the "warning" was unwarranted.

Sure mate,... good point.

You saw "an opinion" online; you are cleaver enough to take it or leave it, but why the swearing at others?

For you, yes, it went back up 3 weeks later, buf for me, I made a good earn when sold at $530 and bought at $430, and then sold again at $598. to me (at least) that was brilliant, and I learned something from this.

I hope you can see my point.

H

... And just to cheer everybody up...

Jees, it's nearly 7am now...

Must head to the F'ing office... Otherwise, I'd be F'ing late :)

Not exactly sure where I was swearing at others, but ok then.

And congrats you succeeded at a SINGLE market timing event. Yay. History has shown in ANY market that market timing is a risky and often futile endeavour. Congrats on beating it once.

Hello Favelle75, I strongly support your point concerning market timing, how hard it is to read the market with constant precision and success, but I need to disagree on what you mentioned earlier, that BTC will always go up at a future point in time. Or perhaps, yes, it is likely that an uptrend will resume after a corrective downward movement or a downtrend, but as the BTC price develops (in a perspective of few years), it will have more room to go down freely, without immediate pressure for an upturn. As I view it, the market is still fresh, BTC has a lot of enthusiasts looking at it, and it will be fairly easy to drive the price higher, as it is in line with BTC holders' expectations. But please, I am addressing this to every BTC investor, do not get fooled into a trap where you start buying into a downtrend, and it drops and drops and drops... I've seen this happen to numerous people in the Forex market, where it seemed unlikely that a downtrend or an uptrend would persist that long, and they were hoping that the market will reverse. But it didn’t. Not before their account was wiped clean. There are no such things as “like it always does”.

Favelle75, you are very wise to speak about market timing, but do not assume that in the financial markets there is anything certain. There are only chances and probability.

If one was looking for ways to be more profitable at trading BTC, I recommend digging through some Forex/stock market methods, especially for swing trading, as it seems what most people here are trying to do. Best wishes to all of us :)

Please see the previous time I made a similar post, that was the time it was at all time high around $1000 and it clearly dropped like a bomb after my post. I have made only two such posts including this one. At that time, I posted a chart as well.

The whole point of this post as well as last one is some discussion about indicators and technical analysis. About understanding different aspects of trend while at the same time being wary that fundamentals play an important part as well.

If you are already good at it all then this post would not be useful to you.

good strategy - bail the F out, buy more coins lower then HODL. but only if we go lower. . .

WTF? Are you on crack or are you just outright lying? On April 27th, Bitcoin was less than $450.

Hi Favelle,

When I was replying yesterday; I was looking at the 27th of March (Not 27th of April) mistakenly.

Sorry, my fault.

Regards
Heider

The price is going to drop some. There's good news as of lately, but nothing solid yet. Therefore there's nothing that was really driving the increase. Soon, though... soon.

As you are saying, the point of posting is to give some ideas/provoke a discussion, so that others and ourselves can benefit. This is how knowledge evolves. People do not need to listen to other ppl's advice, they have the right not to share, like or accept their views, that's fine, but I do not understand the amount of negative comments in this or similar threads. Nothing useful, just swearing, shouting, other bs. That's life.

Just for the record, Coindesk has published (on May 28, 2014 at 10:33 BST) an interesting article regarding the recent growth in BTC price, trying to determin the forces behind the move.

Couldn't agree more, thanks for the advice mate, appreciated.

Looking at the trends; I've just took a big chunk and queued it for an order on $446 now.

Yes, crazy, but, if it drops within the next few days, then great, if not, then lost nothing anyway...

Even if it goes up in between, it will go back down...

That's me!

Cheers
Heider

It is just tanking for some hours/ days, after the 2,500 dump the whales are waiting if there is another idiot dumper before continuing the pump, classic strategy.

$610....

This thread delivered  :D

Damn. I thought "the lines have crossed" was legit TA. :p

You have my deepest sympathy.

Don't worry though. Some day you may break the shackles of employment and stand on your own two feet.

It wasn't legit TA, it was legit CA (clairvoyance) :) Both are very similar in respect of given results...

The search for specific drivers is kinda naive. My take is that this is a long-term thing. The longer bitcoin continues to simply exist, the more interesting it becomes as its own asset class (and/or as a partial replacement for PMs).

Obviously short term news plays a role, but after the Gox/China/overhype driven crash died down and bitcoin was stable for even just those few weeks, people just got back to the basic analysis of: "eh, if bitcoin survives, it's worth at least 10x current value. If it fails, 0. High risk, but a very +EV asymmetrical play."

No worries man.

This is absolutely 100% in line with my reasoning, your every argument is spot on. Bitcoin isn't that new now (nor is it mature enough for my complete liking), the blockchain technology has numerous interesting implementations that are just starting to flourish, many of them being beta-tested, so it's not as worthless as a tulip bulb :) A crowd of experts from various domains of activity is backing it up, the society around altcoins is growing, we become inspiration to one another. Oldcomers guide the way, are at the frontier of development (of services etc.) newcomers are willing to invest (both time and money), not to miss the bus. Despite some doubtful news, I am in favour of positive PR for BTC. There are some problems we need to solve as a community, but the outcome, the reward, is well worth all the trouble. I only hope that govs and all the legislation will not harm altcoins. Thankfully we have groups of lobbyists put to work.

Only if you're trying to catch giant marshmallow ghosts...

YAWN

Boy, we have a nice looking trend after a long time...it's sure nice to see this did not turn into the late January saga.

Quite a nice run indeed. I was particularly impressed with the price action over the weekend, especially the fact that on Sunday the BTC reached a significant high just below the 670.00 level against the USD. I didn't take time to calculate proper statistics, but just by looking at the charts weekends tend to be little less volatile than weekdays, but Sundays seems to be more active than Saturdays. I wonder why:)

it hit 683 actually. i expect it to be back next week.

I see you've got it all figured out. Well done.

LOL im glad you saw that test of the 300s coming! oh wait it never happened? imagine that...if we see 200s ill sell my cars for coins.

http://s11.postimg.org/vse0uycyr/Untitled.png (http://postimage.org/)
Price broke up out of trend, but it is always easy looking back. What is gonna happen next is unkown, you can not predict it.

This line could have been drawn before, but there are always a 100 more 'patterns' that one could find and that contradict this movement.
So no way, one could have know.

If you base your trades on the news, than you are out of luck too. When the news gets to you, you are already to late.

No one can predict this... yes you are absolutely right.

Not that whoever is pushing the price up or down on Bitcoin cares about what I am about to say; but I will say it anyway,

I don't know if this forum is being watched by these people, but this is the second occasion someone (including myself) says this is what's gonna happen, and then within 24 hours, it goes the complete opposite, I mean really opposite.

Yes, some might say, it could be no idea what talking about, or talking from the back-side etc. But, ...

Three days ago, and without mentioning people on this forum, with a private agreement between some certain members here, I have decided to post a statement that saying "Definitely going down, I'm buying at a $100 less etc"...

After being slow and steady for about a month taking slow inc/decrements before posting my above message, in all honesty; in my life.... I've never seen the following previously whatsoever:

1) The asking sum trend turning 90 Degrees down, and FAST, (I could not believe it)... 90 degrees, this was on 30/05/2014 10:00:00 asking sum was 17.5K BTC down to 12.8K BTC.

2) The Bidding sum trned went up 90 degrees in the same speed, same time, from 11.6Million USD, into 12.7m USD.

I've never seen this in my life before, and now truly think that whatever we predict on the forum here gone the opposite just at the time we predicted it, not sure if this is a coincidence, but I now believe that there is something there (Big brother is watching)...

Also, to mention, the more people putting more coins on a certain USD number generating more volume, then it would drive the price up or down.

So, I'm gonna save my egg face, and no longer "predict" here and agree with the rest that no one can predict this.

Regards
Heider

Its difficult to get a reliable idea based on a straight line as shown in your graph. I suggest getting into indicators using a combination of RSI, CCI, MACD, volume etc. That along with different time periods can give way better indication.

I am done making predictions.
I am not a gambler, I am an observer.

Boosters depleted...hopefully the regular engine will continue to take us north...

Bull market, going up boys.

You couldn't predict when the down movement would stop you could predict that it would reverse at some point.

I agree but now are we definetely in the new uptrend or the recent rally is only a dead cat bounce?
Who knows, let's see what will happen and in the meantime hodl  :)

Predicting that it will reverse between now and the end of the universe is quite useless.
What is your point?

Looking at the stats,

It was trying to go up now, but there has been a pillar of 1200 BitCoins since early morning (684 BTC remaining now) to be exact placed to sell at $655 which is making it bounce back every time it tries to eat it.

Over the past 3 days I noticed similar activities, I was shocked when I first saw 2400 BTC few days ago.

The volume is increasing at the moment which promises higher value on the run. Again, No one can predict it. But if the the Bid-Sum goes up again, then the price should "in theory" shoot up.

I don't know by saying this, if it would do the exact opposite just because I am posting this (I truly believe it now). I am just explaining what I am seeing, I no longer care about if posting would affect it for future.

I hope this helps.

Cheers,
Heider

The lines have crossed...blah blabbidy blah...watch your a$$ out there plz!

I am not sure its going to cut through that, it appears to be running out of momentum.

Well DustyRah...

Volumes are drying up, lines crossed again into the negative and then back out into revive yesterday, don't know why though, could it be that some investors might have had enough and decided to call their BTC off?!

Don't know really, but seeing the price hovering around $650 could indicate that it's the true actual value of what it's worth now, which also means that as the time goes by, if no horrible news comes up, then there is no other way than going up. Well, until of course, another exchange decides to take off with the money like MtGOX :)

Regards
Heider
 

That buying at most prices along the downtrend was a wise choice.

Yes, you are correct. This would be expected given the rise in a short time. BTC would have to keep its own into the 6xx level for a couple weeks or more and we are good to go on a long term basis.

anxiety is starting to build up, massive sell offs coming.

boredom is starting to build up, which means we're about to break upwards :)

Regardless of how down it will go now.

If in 3 months time it goes up, then I am still not selling now.

I had to get this out of my chest in case whoever is controlling the BTC movement is reading this thread...

it WILL go up eventually...

Regards
Heider

Everyone will just hold their coins indefinitely for the rest of their life. Very nice agile economy.

Yes just hold your coins and do be weakhand, unless you are seeing sub 200 prices you shoulnt panic, and if thats the case would be a huge opportunity to buy cheap coins  :)

Well, no one is saying "indefinitely", everyone has their target price I guess.

... Don't worry, I'm still making money :)

more bad news,
Ghash>50%
and FBI selling of thousands of coins.

Not saying it is going to go down, just following the breadcrumbs.

This thread has been a true inspiration for a potential business, first I thought about people wanting to “bail the F out now!” but that would like to do it “legally”, complying with tax guidelines, yet not sacrificing xx% towards tax payments. That’s fine, you can still pay the tax and make that money back in a relatively short period.

Then I thought about people who would like to invest in Bitcoin, but who are newcomers and are somewhat scared, about people who wanted to “bail the F in now!”, but would like to have a backup plan in case their investment does not work out (i.e. BTC decreases in value over time up to an extent that they will no longer tolerate, for example a 30% loss in relation to the initial investment). Same as with those willing to pay the taxes and make that money back, if you decide you’ve lost enough and want to make up for that loss, here is where I come into play. I think that there is a greater potential among those who would like to get in (potentially the whole world:) than among those who are already in but would like to get out. This thread has shifted my view, thanks to every person participating in this discussion!

... Did the FBI "find" the missing MtGox's coins already?! Sounds like a good deal to me ;D

Cheers!

Actually it's the US Marshall Service selling approx. 30k Bitcoins, a part of what the FBI seized after taking down the Silk Road. The other part is approx. 145k Bitcoins held ina  different wallet. The 30k are meant to be auctioned on the 27th of June 2014, to participate one needs to deposit 200k USD and comply with other rules blablabla http://www.usmarshals.gov/assets/2014/bitcoins/

This recent slump is somehow connected with this news, the auction is the Sealed Bid Auction type, so participants do not know other bids, and the highest figure wins the auction. Thus it is reasonable to use the falling price until the 27th of June, by constantly selling portions of BTC, and to buy back the BTC at a relatively low level from the USMS- if you sold higher you would be able to offer a good price at the auction, a price close to the market price on the 27th of June. As a result you would have your BTC back, plus the dollar amount that constitutes the difference between what you've earned by selling from the higher price to the lower price and what you've paid at the auction. Quite risky, or rather aggressive investment style, more common among hedge funds outsider of Bitcoin industry.

The other scenario is that interested parties would now sell the equivalent of 200k USD to become a bidder, and sell the remaining Bitcoins only upon winning a block/blocks of 3k BTC. In such a case, there would be a need for a quick selloff, as the USMS wants to receive the payment within 24 hours, and this quick selloff would be probably even more risky to the participants, as the price could drop to a lower level that they bid on the auction. The market is mature enough to absorb the potential amount even if it were he equivalent of the whole 30k Bitcoin lot (roughly half of today’s BTC trade volume), but what would happen with the price at that time? A further slump perhaps, but probably followed by a fast recovery. It’s hard to speculate, cause there will be many players choosing different approaches, probably very different from those two I’ve described above:) So no worries, I don’t view the auction as a threat to BTC price, rather an opportunity to get in at a lower price.

BTW, the mentioning of MtGox coins being found by the FBI made my laugh, good one :D

@thexit, that is a nice theory.
But one would have to have a huge amount of coins to make the price plummet this low.

Yes, it is only a theory, and a quite doubtful one, as the amount of 30k BTC is relatively small compared to the overall market capital. My reasoning goes somewhat along the lines of reasoning/methods used by large hedge funds and banks that influence currency prices by sending a large number of orders to drive a currency pair in a certain direction. Sometimes central banks intervene when their currency is too strong/too weak compared to other currencies, and they have the ability to move the price, but it is often short-lived and influences the price for a day or so, despite the fact that huge capital is involved in such operations.

Checking the amount thExit; it's quite shocking if you ask me

I am 80% sure that it would end up with either btcchina or huobi. I am bracing myself for a series of shock-and-Orr waves like we've seen earlier when the Chinese government announced the banning of BTC from their banks, but then they managed to find a loophole to introduce even stronger buying schemes that disrupted the balances for a while.

At the moment, reading the link you sent (thank very much for that); it seems that these BTCs are actually on files at the moment (not held on traders account for release), which should (if my theory is correct) only cause a vacuum (price might slightly go down and then pick up shortly afterwards in the mean time), that should not affect the market-core much once the news is history.

We're seeing an unstable drop of around $100 over the past 4 days because of this news, but wouldn't be surprised if the price would pick up just before the auction.

Checking the market/stats today; although the lines have crossed on the 12th of June and comparing with an older / similar drop, the BTC technically now should be at $458 at the moment, which shows that the market is a lot stronger now than what it was on the 21st of May.

That said; I stick to what I said earlier about in 3 months time BTC should pick up etc, but;

My real worry now is what on earth is going to happen within a month of after the auction ends?...

Best thing for me now is to ... Go away, Eat some Hummus,... and then come back, it will always change... :)

Kind Regards
Heider

Speculating on future outcomes is tempting, and speculating on this particular BTC-related event is interesting as it may manifest how market participants view BTC and its environment, and how mature they are in their perception of the BTC market. This is the only thing that interests me, I do not think you can predict how the market will react to the actual event on the 27th and 28th of June- for the past two years I've been in front of my computer for almost every major Forex-related news release significant to EUR, USD, GBP or JPY (it's easy to follow through numerous services like http://www.forexfactory.com/index.php?day=jun16.2014), and I've seen soooo...ooo many different reactions to news/data, by saying different I mean reactions contrary to expectations/common sense, e.g. in cases where the data was good for a given currency, the market would first go up and then reject the data as if it was never published, reactions that were irrational. Thus even if the BTC-related event plays out as expected, or even though some information surfaces, the market (and it's participants) may decide to do the opposite.

Long-term predictions? Not for me. I prefer short-term trading, as in the case of this account on BTCe:

http://s29.postimg.org/8e26fk393/Detailed_Statement_15.gif

This is only a demo account with leverage 1:3 where I am testing my Forex methods, but I am quite happy with the results as they are similar to my live Forex results - this is a period of trading starting on the 16th of April 2014, initial deposit of 10.000,00 USD and a gain of 1172,99 USD, trading exclusively on BTCUSD pair. BTCe now allows accounts denominated in Bitcoin, Litecoin and Namecoin and trading on standard Forex majors like EURUSD, GBPUSD, JPY crosses, which makes me even more happy:) With those results, there is nothing to boast about, my only point is to show you that making a number of quick trades (exactly 519 trades in almost two months) allows you to take control of the profits instead of counting/hoping/speculating on what the market will do in a time of a month, two months or a year.

To add one more potential scenario, on reddit I've found an interesting comment by IkmoIkmo:

"And people don't realize that if you buy 30k coins on an exchange, the price increases, so you pay above spot-price average per bitcoin. As such, funds like BIT or Panterra are going to love paying simply the current exchange price for the bitcoin because that would be a huge discount for them compared to sourcing it from an exchange. So contrary to popular belief, these coins aren't going to be auctioned off for cheap!"

[source: http://www.reddit.com/r/Bitcoin/comments/280atj/calm_down_with_the_panic_selling_so_what_if_the/]

Having this in mind, if such a scenario occurs, the market will basically have no reason to react at all, as there will be no inflow or outflow of BTC as I've speculated earlier. After giving this a thought, this scenario sounds like the most probable, and the USMS would go for the highest bidder, so I wouldn't be surprised if such funds as those mentioned by IkmoIkmo would decide to pay a price a bit higher than the market price on the 27th.

What's funny to me about this thread is that even after our huge drop recently.....we are STILL over $100 higher than when this thread was made. LOL. As if 25% PLUS returns were suggesting we "bail the F out".  ROFL.

Do you think the original post was meant to apply forever? Use your common sense, the post was made based on information available at that time. This post is for current indicators and meant for traders and not long terms hodlers.

... We're Crossing back into recovery mode as of 1am this morning (UK Time)...

It's on its way up...

ow cmon...
the most important is still "BTC price" still stable at 500-600
hope that it'll be 800 at the end of year, so i'll throw a big party in the new year night  :D

It's a good sign that we are still higher and if you were looking for long-term predictions/advice (disclaimer: I am not providing any advice:) then you should consider buying on every major dip. If everyone was doing so, the price of BTC would continue to rise. Market price is nothing else than the manifestation of traders' beliefs and their sentiment, if the sellers are in the minority and optimistic buying prevail, then we would see a continuous uptrend with corrections that enable more buyers to join in at a better price. Make sure you understand trends and corrections- corrections are a sign of a healthy trend, those are points in time and price where buyers liquidate their long positions in order cash in the profit, and latecomers have an opportunity to buy at a lower, more attractive price and by doing so they contribute to a further price rise and a continuation of the uptrend. Simply put, buy buy buy and do not bail the F out! LOL

Well, it depends on how you interpret "Bail the F. Out"

The way I understand it is; (A) Be aware, a big drop is coming, which implies "sell now if possible", and then wait for the big drop to occur and then it's up to you to buy again. Or;

From what I'm reading, others might be understanding it as (B) "Sell now, leave BTC forever", which I am sure isn't the intended message.

For (A) above, I don't know if anyone can argue if this didn't occur at the time of writing. Some even speculated a price of sub-$200, wasn't sure about that one though.

Repeating myself again, "you are cleaver enough to know what's right and wrong, please use common sense"

Anyway, I think the information was good at the time, I don't know how useful it is today to argue about a piece of information sent more than a month ago given the significant amount of BTC changes we all witnessed since then.

What do you think?

Regards
Heider

I for one believe that the recent steep drop was due to the news that the US marshal service is auctioning off close to 30 K BTC. Chinese news does not seem to affect BTC anymore, as people have smartened up and can see that this is a ploy by the Chinese to buy in at lower prices. More a reaction to the auction news as some whales may be trying to crash the price so that they can buy into the auction at lower rates especially since the auction notice states "Market price" and does not state any particular value per BTC.

Just my 2 satoshi!

And oh yeah, bailing out now may not be the smartest thing to do. Post June 30th once the auction results are announced, we should see BTC rising up again and maybe to greater heights than before. Being an optimist :)

Yep, I agree with you micky.

In most cases, in the financial markets information published yesterday becomes useless today:) There are some exceptions, for example data concerning interest rates tied to particular currency by it's central bank- those rates when shifted can create trends that continue for several days/weeks/months. In the cryptocurrency markets there are no interest rates as those in the fiat currency financial sector, so to further elaborate is pointless:)

@Heider, you are very kind to use such gentle words where other people would use invectives:)

Thank you VERY much Sir.

Your kind'er words makes my day.

:)

Have a good one

Cheers
Heider

By the way,

I noticed since morning that someone (or group of people) placing in orders of 200 BTC at a time every time it tries to go down. I saw this on $590, $600, $603, I don't know what's going on, but it seems that someone wants to stop it from going down now, and then pushing it right up with a similar sale on the uptrend.

Currently there are $110 left to be sold at $590.00 at the moment (i.e. $90 chewed out of the $200), which tells me that BTC is desperate to go down.

I don't want to advice anyone at the moment about what to do, but the above should be self explanatory if it stays that way for a while.

Kind Regards
Heider

Things are never desperate to do anything.

If it wasn't applied to "forever", then why the F would I bail out?  Bailing out means the ship is sinking, get out before you you do down with it. If the price drop was just temporary, then why the fck are we worried in the first place?

Thank you as well, it's worth contributing if we can help even one person to benefit.


It's a good point, I don't think BTC is a concept that would collapse, there are numerous reasons for optimism. One reason that particularly convinces me is the fact that Bitcoin protocol can be further modified, that if the community/core devs agree on a feature, it can be incorporated with the existing protocol. Here's a quick read:

http://www.coindesk.com/bitcoin-developer-jeff-garzik-on-altcoins-asics-and-bitcoin-usability/

"On altcoins"

and

http://www.coindesk.com/bitcoin-developer-jeff-garzik-on-satoshi-nakamoto-and-the-future-of-bitcoin/

"A conservative team"

I am and have always been positive on long term prospects of BTC. However, I am a trader and my words may have been confusing to long term traders who would have seen it as leaving BTC altogether.

I don't think its worth sitting and waiting for BTC to head higher because traders are in the game now and traders enjoy waves and take their slices at they come along. Its worth taking profits as they come though there is always a risk of missing the train if and when it takes off the station. There are always more entry points to come along but taking the exit points is what books in the profits. Hopefully this FBI saga will be over soon and we are back on track climbing over the $1000 wall.

Understatement. Imagine if someone said that about a stock like Apple or Google? It would sound like the company is going bankrupt!

OK,...

A said "Green", B thought "Blue",

... regardless of what the actual colour is, how about calling it the technical term; "a Misunderstanding" and move on?

Anywayz,... Back to the subject, I think BTC had a very bad day today, I've never seen the lines mangled this way since the 23rd of May (BTC price then was $529), as opposed to yesterday there have been many up-blocks (many drops of 70 BTC each) placed just below $600 ($598, $599, $596) all day, this is preventing the price from going up to $600. It's now clear that a nasty group clearly doing all this on a purpose.

This is causing people to lose interest in buying or selling today (I'm one of them), which is why there's hardly any movement at the moment.

A less-similar state was on the 13th of June (4 days ago), where BTC was around $570.

I don't know after saying this here, if things would change exactly the opposite way, I might go crazy and start selling half load soon.

Regards
Heider

Do you feel a compulsion to buy or sell? Are buying and selling the important things to you?

Whether you're into Bitcoin to support disruptive technology and open-source decentralized secure peer-to-peer networking, or merely to try to make money, holding is a lot more productive in the long run and a lot less stressful.

If you fancy yourself a trader, by all means have fun.

Kind'a of both to be honest, in a nut-shell, here's my strategy:

A) Buy when it's going up to sell higher.
B) Sell when it's about to go low, to buy lower.
C) Hold when 100% sure that its only going up...
D) Sell half-load when not sure if it's going up or down, then make-up the difference with the held amount.

Let me know if you think any of the above is wrong, any suggestions to improve are always welcome.

So far, I'm doing fine, I did lose initially when I first walked into the BTC world, but now the sky is raining Kabbab... :)

I hope this answers your question.

Kind Regards
Heider

Don't make decisions based on where it is going.

1. Buy.
2. Hold.
3. Sell a small percentage after it moved up a certain amount (e.g. 100%)
4. Rinse and repeat

That's exactly what I tried when I first walked into the BTC world about 4 months ago. I bought at $634, but then with MtGox going down and China banks rumours stopping BTC on the way as well etc, it went down to $379 (i.e. almost half if I remember correctly), being a novice in BTC at the time I sold then thinking it's going down further and probably staying there trying to recover my loss by aiming to buy at a lower price, the minute I sold, BTC rocketed up quite fast before I even knew it, I ended up cursing and banging my head to the wall as a result.

The strategy I am following now (mentioned in an earlier reply) worked out very well, thank God there was the second down-turn about a month ago, I remember selling already just about when it started to go down, but then not knowing why it was going down or when it was supposed to stop, I stumbled on this forum and found it extremely useful, it gave me ideas about how to understand (lines have crossed already), consider volumes, check  ask/bid prices on the way etc, all that now helped me so much to "try" and become a better BTC trader.

Thank you for sharing your strategy wachtwoord (really appreciate it), I will stick with mine for now until BTC is more stable, then would certainly do yours on the long run. Well, probably a month after the auction becomes history.

Kind Regards
Heider
 

I hope you don't lose too much before you switch to the above :) (I'm not being sarcastic, I sincerely hope this, but would not recommend it)

It just dropped from 605 to 595. 420 Bail it out.

http://static.fjcdn.com/gifs/It+s+HAPPENING.+100+shure+from+pol_47a934_4838945.gif

</sarcasm>

it's gonna stay around 600 until the 27th, then who knows?

Its a nice deal if it can hang on to the 6xx area for a while. Stability of price always helps support a positive long term outlook...

... I reckon $557 soon.

I'm looking for it to find support on the 7 week moving average and then take another stab at breaking the 30 week moving average.

I've got around $7500 ready to pump in, just awaiting the "opportune moment" ;)

nice 1 oddball.

Not right now...wait a bit! Do it as soon as you see positive divergence...

If the price is being pushed down intentionally to get the large BTCs ceased by the FBI at a lower price, then I think it's probably best to consider buying when closer to the auction date (i.e. 28th of June). I think a month after that date, the BTC would rocket up somehow.

Regards
Heider

Hi Jimbo,

Yes, I meant seized, my spell-checker can be a devil sometimes.

In regards to the auction, I tend to disagree with you, I've been through auctions in the past, and (in a general auction) when someone sells something, it would be based on "today's" market price, Since the auction have not officially started yet, then today's price isn't known yet, and that it to be calculated at the beginning of the auction's date. Therefore, I still strongly believe that the price will be pushed down sooner or later by someone knowing what they're doing.

When we talk about a 1000 BTC, that's more than half a million dollars in today's price, if I had that sort of money at the moment, I would guarantee to "somehow" control (or have a little saying) in moving the price North or South. For someone having the power to buy 3000 BTCs; I would certainly expect the market to shake before and after that auction.

Therefore, even thought I might be wrong on this, but I would rather stick to my theory for now, as this is what I am already seeing on the BTC movement at the moment.

Kind Regards
Heider
 

This is why the market is kind of flat at the moment. Many people are waiting to see how this pans out.

Opinions differ. I hear and hopefully understand your argument, but I still think that those with sufficient resources to participate ($200,000.00 may not seem like much but it excludes many) will have the foresight to see the opportunity  to immediately increase the value of their new coins at little additional cost.

According to the leaked list of bidders, these aren't a bunch of petty daytraders, but rather those with a longer-term agenda.

Cheers.  :)

Here is an interesting bit that supports IkmoIkmo's comment:

"Bitcoin’s institutional investors have recently noted that current exchange trading solutions are not optimised for high net-worth clients.

For example, Binary Financial’s Managing Partner Harry Yeh recently told CoinDesk that the upcoming US Marshals Service (USMS) auction of nearly 30,000 bitcoins confiscated from Silk Road has become appealing to his firm’s clients for providing a viable solution to real investor concerns.

Yeh explained how large buyers often pay an above-market price for large bitcoin orders, as the act of buying such a large volume of coins causes price slippage, whereby investors force the price of bitcoin to rise as their orders are being filled"

[source:http://www.coindesk.com/okcoin-encourages-large-scale-investment-with-algorithmic-trading-launch/ ]

Not looking good...

https://i.imgur.com/MtydIzy.png

I don't like indicators.
They tell you what you should have done, not what you should do right now.

People and their charts - as if the Bitcoin market can be predicted.  Charts are irrelevant in the face of an in-progress or upcoming "crises".  

Once the auction is done, the price will resume normal rise / plateau / rise / plateau pattern.

OK,

No charts, here is what's happening (or at least what I am seeing) in layman's terms:

1) Few days ago, someone (or a group of people) placed an order to sell a 1000 coins @ $605. This causes the uptrend to almost stop going up beyond this line. I call this an "UpBlock".

2) Another DownBlock was placed the opposite way @ $540.5, this causes it to not go beyond this line.

3) As the BTC price as a result of (1) above, goes a little downwards (about between $5 or $10), the UpBlock is moved backwards to block any uprise in BTC closer to the new "lower" price.

4) During this movement; say it's now at $570, then someone places an ASK order for $100 at $571, and then another for $50 at $565, this causes a slow-tip downwards.

5) With the BTC bought above from (4), as they accumulate (Generate some BTCs as a result of buying), they would be placed to "Sell Now" type order which are about 100 BTC's each, this causes the price to shoot downwards for about $10 eventually in a ripple-effect.

6) There are about 3-4 people repeating the same, few seconds apart between them. this causes the price to go down further.

7) As the price has gone down another $10, the above is repeated.

8 ) Currently, the UpBlock as a result has been moved down gradually so far and currently at $569.500 for 1164 BTC's.

9) As I estimated earlier few days ago, I was expecting it to go into $573, but now with 900 BTC's placed downwards on $540, I reckon it's going down there, or even less if the DownBlock is moved further.

As a result, the price is being pushed downwards and possibly preparing for the FBI auction.

Warning: Once the Blocks are lifted, be aware, the price will shoot up like you have never seen before, just like a spring exploding upwards once you release it after a hard push.

Personally, I'm happy with the above as I sold at $605 few days ago, I only lost $20 since the down-move.

I hope this gives an idea about what's going on, the question is: "Is this legal?!", well, since it's a decentralised currency, I don't think it can be questioned, or at least don't know ...

Either way; Good luck to all...

Kind Regards
Heider

finally a logical human being... thank you for these words of wisdom heider

Just saw the UPBlock pushed upwards into $595.

Are we going up soon?!...

I don't think you can dominate the market with only 1k coins. the total volume of okcoin is 56,682.36฿ alone.(in last 24h).
What exchange are you looking at, bitstamp?
Bitstamp doesn't lead, bitstamp follows okcoin.(because of the 'low' volume)
So if there was any manipulation it would happen on okcoin.

Besides these blocks are probably just an accumulation of coins from a lot of people.

Yes, BitStamp, and also have access and currently looking at BitFinex, Kraken, Houbi, Btc-E, and BtcChina on my screens, I quite disagree about OkCoin driving it, as there are a lot of BTCs in BitSTamp's wallet to even drive BitFinex now!

I just noticed now that DownBlock have just been pushed downwards another $5.

I initially thought it's a group of people, but when I started seeing the blocks moving programatically, the only explanation is that it's an organised movement, it's by someone knowing exactly what they're doing.

BTC could be going down again (slower).

 

More BTC are accumulating at $569.500, definitely going down further soon.

... Anyway,... I'm going for lunch, starving...

:)

the higher the volume the more control an exchange has right.
If that is true, bitstamp is just a puppet

That just means you don't know what indicators are.

Are you serious? Most trading even software driven in the market is done based on indicators along with news analysis. On the other hand, MOST people have no idea how to read indicators and instead simply look at the price trend which is quite useless.

Entry and exit points are identified using indicators. A simple example is May 19 entry point and June 6th exit point as long as CCD is positive and MACD is above the CCD: Enter as it goes above +100 and exit as it descends below +100. That's the simplest case example and can be made way more accurate by taking into consideration 10 other indicators to identify entry and exit points.

On the other hand, this statement below is naive and just an assumption: "Once the auction is done, the price will resume normal rise / plateau / rise / plateau pattern". Yeah, that rise / plateau you are talking about is $$$$$ to a trader.

... I swear to God..

This thread is being watched...

In my opinion price is going to 400$ very fast, but will stay there for a short time. Then the most possible variant will be step by step grow and the sky is unlimited. Last time when you see BTC at this level believe me ;)
BR

You might be right Gondel since nobody can 100% predict it, but if you are, then I would imagine the price going up and down all the way for about 2 times before it goes that low.

It's not over yet, it's quiet at the moment, we might have a long day tomorrow though.

Regards
Heider

I think we'll head back towards $600 before we approach $400.  The upper ask walls are light.

This seems very plausible.  Of all the big-money involved in the auction, I think the risk of the btc market price rising or falling dramatically between the time their bids are submitted and the auction winners are announced is too great to leave to chance, and concerned parties have taken the steps you outlined to protect themselves

You could kill or laugh at me for saying the "I Predict" word today.

But, if my theory is correct (no longer care of big traders watching this anymore), I'm expect it to go down to $556.5 soon.

This is due to a similar strategy I noticed now, but should end up the same.

Regards
Heider

tomorrow is the auction.
Horde your coins now, afterwards it will revert to its natural level (600).
Ask yourself, what happened in the last few weeks that causes it to drop,
Well, there is no particular reason, bitcoin acceptance is only increasing.
And less FUD(as far as i noticed).
So probably it is because of manipulation, when this is over, you will see 600's.

Well there was that little issue about Ghash taking over the network with a 51% attack  :o

Ditto to that!
 
Just one thing, isn't the auction on the 28th, not the 27th? I could go and check the URL, but feeling extremely sick-lazy today :)

Cheers

BTC will always be volatile.

People with no stomach to withstand volatility better off investing in something else.

I believe it to be on Friday the 27th.  Have to find the link somewhere.

Here you go:
http://www.cryptocoinsnews.com/news/bitcoin-price-trending-downwards-awaiting-bitcoin-auction-results/2014/06/25

27th, so tomorrow.

Not sure what happened so far...

Since I posted what I understood yesterday, I noticed a lot of things changing within minutes (this when I said "someone is watching.. etc").

It seems since then, all the BTC-tourturing has stopped, and so far all have been normal so far which isn't expected from us thinking of the auction coming soon.

Not sure really, could it be that someone from BTC/Central decided to put an end to all this, or the guys who were doing this over the past 3 days be preparing for another twist?

Either way, whoever it is,... they are reading this text for sure...

Regards
Heider

There are hundreds of speculative threads on bitcoinprice.
If someone wanted to keep track of all these posts that would require a large effort.
So I don't know about this thread being watched.

Also I wouldn't trust my millions on some mere speculation. So I don't think these post have much influence, even if they are watched.

A boost appears to be developing...should know in a day or two!

going for 700$ I think

And we have our boost...

I hope so...hope we ride it out over that $1000 mark.

Well obviously a prediction will not last forever.
He predicted it was going down soon, and it did shortly after the post.

Yeah, i stumbled accross this thread, and so i went back and looked. He was right... it did drop.
But only from 450 - 420.47 or something. And that was IT. The bottom. The lowest price since his prediction came about 1 week later..

https://i.imgur.com/FIPlou1.png

The point is..it dropped by ~$30 and has only gone up since then.

Yes, it just went down by $30 at that time. Took a whole month to get itself out of that nasty rut.

"   
Re: BTC drop to next level coming...bail the F out now!
June 29, 2014, 05:09:26 PM
Reply with quote  Edit message  Delete message  #268
A boost appears to be developing...should know in a day or two!"

On Sunday at 5:00pm(that's the time I see but other's time may vary depending on your time zone), I called a boost and in 12 hours we had a 3-5% boost and now the price is $655. Basically, the idea is that we can certainly use indicators to get an idea of where things are going. I will try to post a chart later with some simple indicators on it. If anyone has any favorite indicators, please do post here as well.

I am not saying that we can blindly follow the indicators but it can be used as part of overall analysis to attain caution and get an idea of what's happening to big boy BTC.

if you can't trust indicators blindly, what do you use in addition than?
Prediction of the price movements is super subjective.

Technical analysis along with Fundamental analysis. For example, we pay caution when some major news is expected, pay attention to overall sentiment and research prospects.

Here is a chart with simple indicators to get an idea of entry and exit points. Most people wanting to trade have one big issue: ENTRY and EXIT points.

https://i.imgur.com/QbQXVyI.jpg

Ok, but the entry point and exit point should be a little more to the right. You only see a cross after the close of the candle.

Yes, you can look at the chart at different timelines and drill down on the indicators on those too. This chart with simple indicators is on a daily timeline.

Price gone down yesterday,...

Relax,... Don't Panic,... just wait another 65 years, it will pickup again, and probably be higher in price...

:)

lol! Yeah, booster depleted...

I heard some people want to connect bitcoin to ISIS to make the price drop.(maybe that caused the spike today)
It is all over reddit at the moment.
http://www.reddit.com/r/Bitcoin/

They will still need a way t
That's not good news to be connected to such organizations. But practically speaking eventually they will have to convert into FIAT and they will run into issues doing that. Its a bit worrysome though given that people could donate to such nutcases anonymously.

I dropped to the next level, just like the poster said.  It dropped -100%, i.e. up.

Frankly BTCUSD makes a lot more sense to me when I invert the chart and consider it as a bear market in USD.  Bull markets climb a wall of worry while bear markets drop like knives.  It really only makes sense upside down.

This must be one of those LOL threads. OP should be cited for inciting a riot. :D

Short term trader, both long and short, will get burn badly trading bitcoin.

Its back under...No idea how many weeks before it pulls itself out of this one.

So this is finally the drop that's been incoming since April 27? Wow you sure got a nice crystal ball, being able to forcast this drop that well!

While I hate to see big drops like this, I don't plan on selling my coin until i retire. So, I have years to go before I start thinking about selling. I stopped panic selling awhile ago, which is pretty good advice. Just hold and dont look at the daily drops (or gains). The only time I will consider selling now is if I ran into a financial situation where it made sense..

Even if it drops all the way down to 200, it will eventually recover.. (and a great time to buy)

Well,...

That's exactly what I was expecting when I mentioned earlier about what's going to happen after the auction ends. If you think about it; the amount that was auctioned was quite large which (based on the supply-and-demand theory); "should" cause a drop in price. I was expecting this to last for about a month or three by most, and was preparing for it.

Being honest about it, sadly, after the auction ended, I noticed the price climbing up, and got tempted; I don't know what was wrong in my head when I decided to spend few coins on buying at $645, I saw the price drop coming at the time, and then queued my sell to go at $655, but sadly it went up to $653 therefore, never sold, and then afterwards BTC kept going down ever since, that's when I said earlier "wait another 65 years, it will go up etc...."

Truth is I don't feel sorry for that little loss (with price drop today it's about $200 now), I expect further drop, but frankly don't care, I'm not selling, therefore it's not a loss (yet). if it takes 3 months for it to recover and by on the up again, then great, if it's a year or so then still won't make me jump out of my seat neither, I am way too busy at the moment with other things to do, and I think this (stop dealing with BTC for now) came in  time to help me focus on my work.

My advice, is, for whatever it's worth; if you are in the same situation, please don't panic, the more people joining in later, the higher it gets. Right now, I still think (theoretically) that the auction coins are being sold as we speak hence causing this drop, no facts there, just what I think, which is why I am waiting with absolutely no care or even interest in doing a move right now.

I believe more people are watching this forum, since my last 65 years post, BTC on the sites (Bitstamp, Bitfinex, Btc-e) has dropped volumes of about 80%. For instance, the one-hour volume trading on Bitstamp used to be about $900, over the past week it hardly gone over $99 per hour.

Lots of people seems to be losing interest on the way BTC is changing recently, hence that drop in price until someone starts to take a drastic action about it.

I hope this helps,

Wish you Good luck,
Heider

The price is what you agree to sell it for. As long as you wait and have a target, you will eventually get your target since BTC continues to be bullish over the long term in spite of recent stagnation.

Summer is all over the northern hemisphere.

Bitlicense issue has pushed the bottom heavy BTC on its ass...worst bottom spike in 6 months but not as bad as the February one.

seems to me that the issue is bitcoin's market cap isn't big enough to absorb the hits. it's still too volatile, at least to me.

It definitely is but was way more volatile before and it has gotten a lot better recently. I hope as the market cap increases, the volatility decreases with increased volume.

Judging by the numbers I am seeing, I'd say; people are starting to loose interest. 

I'm leaving my BTCs hanging there for a year before I start thinking about their value unless I see it going above $650 anytime soon.

Good luck to all.

Regards
Heider

We are not even the tip of the iceberg. Too much investment has gone into BTC for it to come crashing down and to stay down. I am sure that people are keeping a keen eye on this development and will buy more at this price range. I also doubt that people are losing interest, in fact i see just the opposite happening. The pro's of BTC far out-number the con's as far as i am concerned. This may be a conspiracy by major banks to discredit BTC and show it as a very volatile product which will de-stabilize the market. People need to look at the many positives that BTC has to offer instead of looking at the negatives. I am holding 1 BTC even if it goes to the ground! :)

Ditto to that, I've got a lot more BTCs stuck upstairs, also holding to the mud.... The main thing is that it's money I can afford to lose, therefore, I am not doing a thing about it now until ... well,... you know...

:)

Ha ha ha, this is a similar case to mine. This is money that i can afford to lose. I feel sorry for those poor sods who went all in, selling their meager possessions and buying BTC in the hope they would be a millionaire some day. The sad part is, they would not have the stomach to take such volatility and end up selling at a loss to get whatever they can out when the boat gets rocked slightly (More like a storm right now!). I have always advised people never to put in money that they cannot afford to lose. Unfortunately, greed over-powers all! :(

I now have roughly 10% of my capital in bitcoin. This is also money i can afford to loose, so holding too.
The nice thing is, if you hold long enough you may not need to change back to fiat and you can spend it directly.
(if the merchants don't sell those coins immediately you have sort of sold your bitcoin without pushing down the price).

Again, price dropping like this rarely last just 1-2 days. The wind is now blowing in reverse for whatever reason.

I very much doubt this is a 1-2 days wait, I am thinking of 3 months at least.

There are 2607 BTCs exactly queued/ordered to be sold on $465, this is going as per my analyses more than a month ago.

Now, you tell me, who the heck has such a volume to play with?!...

This is exactly what I was looking for,... the remnants of the FBI auction and the aftermath...

Hopefully it will end soon so that we can pick up where we left it at...

Regards
Heider

On which exchange?

Sorry, I should've said,...

It's Bitstamp.

Here are more accurate figures from the ones I am looking at:

1) On BitFinex: There are 2372 BTCs placed to be sold at $470-$475, so no way up here
2) On BitStamp: There are 2529 BTCs placed to be sold at $482-$485, so no way up here neither
3) On BTC-e: There are 198 BTCs placed to be sold at $441, given the usual volume of BTC-e, no way up here neither.
4) Kraken and BTC-China: Nothing out of the ordinary there

So, from the above, BTC is intentionally being pushed down, and frankly it's not that enjoyable to deal anymore.

I'd still wait for few months hoping this game ends soon.

Regards
Heider

Perhaps some old timers from the early days just want to cash out a couple of million dollars each. That would hardly make a dent in some of the biggest Bitcoin wallets.

That's going to take a lot of buying power to cut through over it. We may indeed have to wait for a few months or some kind of major good news to break out at this point.

it takes a million dollars of fresh money to get back to where we were 24 hours ago, on one single exchange...
never going to happen there is no new money coming in, only going out.
dropping faster every day now until only bag holders are left

PayPal as well as the Winklewoss ETF later this year may bring things around...

There are some orders which are cancelled as soon as the bitcoin price nears it.... So these huge sales orders might be just a way to mislead market participants.

Well, it's a tactic being used to push the price down by applying such pressure (block moving), I described this process in detail about 1-2 months ago on this thread.

Once this push is released, it would go up like a spring (fast BTC increase).

The question is; when is it going to be released?, and would it go as high as $6xx?

By the way, BTC-e is already started going into the $3xx rage...

As I got tons of other things to do right now;..

... I'm still holding ...