Bitcoin Forum

stability like this generally precedes growth....but damn if it isn't boring

It could go on for a while. Let's see how we feel in October.

patience is a virtue

Is it? Let's while away the time with a bit of philosophy.

According to Aristotle, wisdom is living according to the virtues. But not too much, and not too little. For example, too little courage is cowardice, and too much is recklessness. Lack of patience is impatience, and too much patience is... what?

Boring as shit

Stability is good sometimes.. it enables projects based on bitcoin price to succed.. when it is climbing hugely or dropping no one wants to invest or do other business with their btcs..

Points for honesty! Another fine virtue!

Weakness!
If you can wait forever, you may never see what it is you are waiting for.

Perhaps better put;
Too much patience leads to missed opportunity while you wait for that one thing.

I personally prefer the price to be pretty stable instead of pumping and dumping by 10 or 20% per day.  That might make the day traders happy but outsiders who are looking to do real business using bitcoin aren't going to be too happy about adjusting their prices several times a day to account for value fluctuations.

A steady price also makes us look less like a get rich quick scheme designed to separate people from their money.

Mondays sometimes has some interesting moves, like recovers from weekend pumps/dumps, or the continuation of moves stopped due to weekend.

So today may be a good day.

For Bitcoin standards it is sideways and boring if you HODL (nothing wrong with a good number of HODL-coins).

If you look closely it is fluctuating by full percentages every day/week.
This sideways market has made me look into automated trading which has more than a little potential.
I believe you could still double your BTC each year in this sideways market.
With a bubble you can trade all the way to 30-50x your BTC if you have a good bot/script/ea.

We need momentum to move, either moonwards or 0-ards.

Expect sideways to the end of September, it's still vacation time, economic activity tends to start to pick up end of Sept - beginning of Oct.

Totally agreed to this, it is still low activity period, that is why we see these sideway movements only.

Goes up. It's a bubble.
Goes down. It's crashing.
Goes sideways. It's boring.

Poor bitcoin. Damned if it does, damned if it doesn't.

The thing is, a few weeks of sideways is not "stability". At these kind of volumes, especially, this sort of sideways usually ends of squeezing into a powerful, volatile move.

If we were trading for several months at high volumes in a tight range like this, I might call it stability.

Can't stay at this price for long as network difficulty keeps going up.

What are you implying? At some point, in theory, if price can't keep up with difficulty, might difficulty just drop as the unprofitable miners drop out?

The current batch of S3 miners has negative expectation of ROI. So, even if the difficult drop, the cost basis is still fairly high for coin production.

Sideways action like this does not always mean a positive volatile price move. In my opinion, BTC is actually looking kind of weak right now. I'd keep money in fiat until further notice.

what happened to all the bitcoin is too volatile talks. 
i hope some moron dumps a shitload in a day with a market order and everyone panics.

:-)

It's summer. People are on holidays with their families or spouses and taking a time off of Bitcoin and trading. You'll see, when they return, the markets will start moving again, and I think they'll move up ;)

Yessssss! That's exactly what I'm thinking. We've seen this before. Not only 1 time, but 2, 3, 4 times maybe!!! It's just a sign that the next bubble is just around the corner. I can almost feel it bubbling already :D Better boring sideways movements, than going down, I'd say!

The guy in my signature can't be wrong.

There are too few negative threads about bitcoin's value, when the speculation forum will be full of bears then the time for a new rally is come.

many good things happened this year already,

many big companies adopting, many user adopting (as seen by various charts on bitcoin activity in general).

no real negative news as far as i know

price has been going down or sideways all year so far.

it's just a matter of time before we go up, i just have no idea when.

Nailed it!!!

https://encrypted-tbn2.gstatic.com/images?q=tbn:ANd9GcSRgGelxEWvcvgtdBOKOgyBm1oeMeGePGvy2u3G_5wyC3b2sQkOQQ

I for one really like the sideways movement.  It lets in new players with minimal fear and is good for business.  Really pants for trading though, lol.

I think we are due for some excitement tho... been a boring 5 months.

no more sideways, crash it is!

You really think a market that has been steadily falling in value for almost a year is a market that encourages new players? People join markets when they're rising... not when they're sideways followed by a crash every couple weeks. Bitcoin is poison right now to most investors.

agree

My other favorite comment is, "You can take it to the bank" or "You can bank on it." People want the price to rocket up and hit a new high which will inevitably come back down for a certain time but settle well above a level where most people can accumulate anything substantial.

For all the folks w/ single digit coins or less, this time of a relaxed price should be a Godsend to do what's necessary to up one's ante for when things start to launch over the next few years. If the train leaves tomorrow and settles at $5k by the end of the month but one only has a coin or so, not so good. But, if you're able to accumulate a handful or more before the inevitable price movement in the future, you'll be much better off obviously so lick your chops and get busy buying when ya can.

Pro players don't enter a market after a big rise and all the media saying about how marvelous Bitcoin is, they enter the market while we are in downwards, then eat the noobs that only enter the market when the train has been gone.

The current market probably will atract pro players to come in, but not the average joe sardine, that would end up being eaten anyway.

We've been in a downtrend all year and no deep pocket investors are here to save us. Don't you see? We're all "waiting for Godot".

If Wall Street was going to invest in bitcoin... they would have invested in bitcoin.

Wall Street is not going to invest in crypto currencies on any major scale. This goes against all they rely on to make a living, and would undermine their own existence. Who would do such a stupid thing.

Until they can effectively own it, you are right.  They'll just gently nudge everyone towards, google wallet, or whatever else has been blessed by TPTB.  The sheep find comfort under big brother's shadow.

No longer sideway. We are on the down trend right now.

Litecoin and NXT dropped more than 20% alone today. I would be worry if I am holding a lot of bitcoin.

I'd be more worried to be holding litecoin. It's been a rough road for LTC bagholders -- my heart goes out to you guys. BTC might dive to 500 or 450 and back, but we're going to the moon........... someday........

Wall street is utterly rotten - I'm not sure why would anyone want them to hop in

If wall street will indeed jump in - they won't make the average, pathetic peasant rich - they will use every single tool at their disposal to rip off the community by FUD and price manipulation.

Well, I think it's pretty obvious. People figure that Wall Street funds invest in the billions, so considering bitcoin's market cap, if they actually wanted to invest that kind of money, it would have to drive up the price considerably. Wouldn't you agree?

Now the question is, do they want in? :P

my gosh that's the wisdom of the day!  ;D

+1
so true.

I haven't looked at Bitcoin for months, until just now.
Damn, it's hardly changed at all in the last six months. Some variation, but no overall trend up or down.
Also striking is that volumes haven't increased either. It must just be a sea of people holding BTC, with no dividends, in the hope of a new price bubble, so they can sell up and return to fiat.
But there is no news. No large scale increase in use, or major new investor, or price variability or anything.
I can understand that you must all be very bored!

My forecast, for what it's worth, is that the stability will remain as everyone just holds, until one day something better is invented, then BTC will collapse, quietly, and without any fanfare.

sadly suspected by a few ppl...will it become true....*shrugs*

I wish we were still in a sideways movement. These drops are making me sick, man! I just can't take these uncertainties anymore... There was supposed to be a bubble and now everyone's talking about capitulation, man!

i'm getting quite tired of waiting myself (expecting the July rally and it's already two weeks past, the horror) but I get the feeling that this long period of consolidation is actually a good thing. I mean education and adoption does take time. Wish I had more money to put in but i'm pretty maxed out..

I guess that's the problem. Everyone's all maxxed out right now!!! So no one will be able to start a new rallye, unless we see new money coming in from the sidelines. The books on stamp look meager, I guess... But that could be manipulation, too!

apathy?

exactly! everybody is still taking a very long time to get on the boat. i just shared for the first time about bitcoin with a couple of friends and though they have heard of it, i was surprised how clueless they actually were. one insisted that bitcoin is a company! good grief. i realise the information chasm is still pretty big with the general public.

Yeah, but doesn't that show - on the other hand - that there's still an incredible amount of potential ready to be tapped? I guess a lot of people could profit form Bitcoin, just don't know about its existence yet! And that needs to change :)

Can't complain it's a good place to be at the moment if you ask me.  The selfish side of me wants to see lower priced Bitcoin in the coming months but I suspect that is just wishful thinking.  I know one thing when we first the 600 dollar price range things started to get interesting fast and before we knew it the price was over a grand.  

I don't expect the same movements but I think it is worth taking into consideration.

Yesterday we sawe some action. But yeah, I miss the double digit % days :(

The last time that everyone started calling for the volatility to come back, we ended up going like straight down.   Let's hope we don't have a repeat of that...

Going down isn't all bad. Especially if you are a longterm holder you can replenish your stack ;)

I dread the day BTC goes up because of the capital gains I have to report.

Move to Denmark, no tax on bitcoin gains ;D. It's also the only good thing about the country, but hey.

That said, it can change at any moment, even retroactively, so I'm staying under the radar.

Honestly, if bitcoin did go up to (let's say) 100k$, then I really may have to move there or some place that doesn't want to take 20% of my capital gains just because. At that point, I'd literally be paying 0.2 BTC to spend 1 BTC, because the fact that I bought at 500$ my 'investment' is so diluted, effectively I'm being taxed on the whole BTC.

Because of capital gains tax, I kind of want to hodl. I've probably gotten about 4-500$ saved this year by using BTC and buying back a little lower, but this would be a nightmare at 100k$. Even 1k$ looks like a disaster to me.

There is no capital gain tax in Singapore also. You can use the local exchange itbit to trade.

Sideways is not the way its moving... its dropping right now lets be honest :(

Germany has a 1 year duration for holding after which all capital gains on BTC are taxfree.

Hodl, boys! Another 2 weeks and it should get easier!

::)

Welp, there you have it...just like I mentioned a while back...we got the volatility back that people have been asking for, and we went down instead of up  :P

It's already easy. As long as we don't go below $100 :)

It's entertaining to see people panicking like little girls :)

$300 is still possible, $100 - very unlikely.