I've been trying to figure out myself how a virus could be hidden in open source code. It would have to be some very well crafted logic error that would occur only under certain conditions and that every coder would be unable to detect when simply reviewing the code.  It could also perhaps be something hidden in the blockchain and currently encrypted, but once the key is revealed, it will be decrypted and the virus will be readable.

What is going on at Cryptsy?

To obtain as many different perspectives from as many different angles as possible.

The second statement was supposed to happen in 2014.

My psychic is not a trader and knew nothing at all about bitcoin before the reading.  ( I don't know about those other psychics I posted about though)

You believe that in only 3 years, bitcoin will reach "full adoption" and achieve its full potential in which it becomes larger than a fiat currency. That seems like too little of an amount of time for that type of development (if such a thing could even happen at all).

I don't know why the number 2000 is so popular and bulls are so quick to call for this number because if that was actually the next ATH than it would be very bearish - it would be the weakest ATH rally bitcoin has ever had and the end of the current trend.

These paths are drawn solely based on following lines from earlier in the chart (which tends not to work). I don't have any faith in the exactness of either of them and think of it more like a spectrum of possibilities.

Stop loss at $460.

Here is a bullish and a bearish possibility moving forward, though I am no longer placing bets on the downside as it is too risky at this point, even if that case were to materialize.

Everywhere I hear a psychic give a prediction on bitcoin, it seems to be unanimously bearish and apocalyptic.

"52 Bitcoin OK just think the crash of 1929, and the South Sea Bubble. Multiply those two events by ten then you'll be close to what is going to happen to this ponzi scheme."
-Christian Dion "the seer"

"Prediction #14: The alternative digital currency, Bitcoin, will crash due to a well placed virus that affects the algorithm. . …"
-LaMont Hamilton

I had a personal reading myself with a renowned psychic in march/april and was told:
-someone would steal all my money
-exchanges would start stealing customer money (I described what happened with gox and was told other exchanges were going to start doing the same thing)
-whatever happened in December was going to happen again, and cause a crash
-There would be a recovery into the 500s.
-There would be a little bit of action this year, but nothing extravagant. No huge rallies. Probably just 500s.
-Afterwards, prices would steadily decline again into an even further crash
-Something would happen in Japan
-The costs of using Bitcoin would rise (due to regulation)
-I was not going to continue to exponentially increase my money into millions and I was more likely to lose it all instead.

So what's up with these psychics. Why are they so bearish?

Disclaimer: I am currently long since my stop was blown out at $460 and I moved all of my coins into cold storage. I don't plan on changing this at the moment.

I'm not saying that they're lying but since they invested so much, it should probably be assumed that they are optimists, and might not notice things that could counter their optimism.

In fact every time I read a bullish bitcoin article lately, it's usually from one of three people:  winklevoss,  barry silbert, or bobby lee. It's getting old. I'd like to see it from someone else, preferably who is new to bitcoin.

                                           ^
                                          /
                                         /
-----------------------------     
                                         \
                                          \
                                           v

The purple dots and lines are drawn based on the 'elbows' of each cycle, meaning where it stopped going sideways and started shooting up. Silk road does not count because it was an outlier caused by an unusual circumstance, placing a flashcrash in a very odd location, and only lasted for one day. I do not use silk road data in any of my charts.

you could use the same trend with the peaks also. in that case the trend was broken in December

Why would I listen to bullish statements by someone who owned a million bitcoins?

I noticed a pattern:



There was an increasing slope of support level, which was broken.

I'm not saying it's dropping to the purple line on the bottom but there is nowhere on the chart to look at besides that. It is clueless guesswork to try to find where support will be.

No but when you see a combination of a train picture, a rocket picture, a moon picture, and a bear picture, it is a confirmed sell signal.

Another post written with catchy exciting phrases. Are you guys getting pumped yet?

Also, it's written by someone wearing a suit and a tie, so you should pay attention.

The direction of a train is typically flat/sideways.