We know that New York is taking a very proactive role to support BTC. But what about the federal government, and what about the central bankers? They may have a different stance than New York and may be keeping it a secret while they quietly devise their plans. The federal government and the central bankers, the same people that seem to be hated in this forum, ultimately have the ability to starve btc price by removing it from the banking system and public legality if they so choose. Any decision made by FinCEN etc. will trump a decision made by New York / WallStreet. What do you think is going to happen, and do you have any evidence?
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The only reason to buy right now is if you think supply is going to dry up quickly. Otherwise tomorrow, next week or next month will suffice. You .might even get a discount.
I just don't think supply is likely to dry up quickly, but I am willing to listen to arguments to the contrary.
I think SecondMarket is buying... will be interesting to check their holdings tomorow Or someone else, who is going long. We saw this same whale 2 days ago but there was no reported increase by SecondMarket. I guess if they're buying just to increase their available stash without actually having a customer buying it then we wouldn't know.
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The biggest catalyst will be and has always been new exchanges opening. Exchanges opening in New York would be big. Also, if people somehow had a way to buy bitcoin (actual bitcoins) with any brokerage account, that would be huge. Think of a futures contract on comex where on the delivery date, you can have real bitcoins delivered to you.
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Just a reminder that we are entering the 2-year downtrend now. Remember: financial decisions based on nothing but emotions are not good decisions. How will you feel when your 648 coins will worth about $1296?
Believe what you want, but all the SMART money is now buying up these cheap coins. One year from now, after another ATH and the inevitable downturn thereafter, you'll be writing the same FUD, while the bulls will be relaxing on their yachts in the Mediterranean. Yes someone is accumulating right now. No there is not going to be an ATH this next year. We escaped from that type of trend a couple months ago. There may a large rally into the existing trading range, almost to ATH, but not a new ATH till the year after that.
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Do people just try to think of anything and everything for the sole sake of pumping the bitcoin price?
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ok I stopped watching his video when he kept using this chart that began in late 2011 and he guessed that the high in 2011 was $11.
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I have been having less and less dreams about bitcoin charts lately. The interpretation of this is probably that I am going to be quitting bitcoin trading, which I have been seriously planning lately and am only waiting for the bottom of this latest 1 month drop cycle to take my final position. I did have one dream about the retracements to $475 these past days which was accurate mostly.
Where do you reckon Bitcoin is going to correct to? Mid-Higher $200 range? A price range where apparently it would be unprofitable to mine and which would endanger the integrity of the entire p2p network? I suspect that when you get your 'final' position filled, that you will be watching Bitcoin very very closely. If Bitcoin were to drop into $100 range, it would only be history repeating itself. I'm not hunting for the bottom. I'm just waiting for the next spike down. I don't know what the price will be; I just want some volume and a little uptrend on the daily chart to start. I don't want to buy right now right after all of these trends just went down. I'll have an easier time leaving once it's on the way back up and I'll have more coins too. Not to be a dick, but is that really a position you'll be happy with? Say we'll see another (mini) capitulation, and another attempted reversal. You'll be happy leaving the market 100% in btc when there's serious doubt whether it'll just be another failed attempt at breakout? I didn't say I was leaving 100% in btc. I'm keeping about 25% in BTC as my minimum long term holding investment, and removing the rest in fiat (which I'm already almost complete with). I may buy back in later with coinbase if I see a 1W MACD cross. So I will be reduced to checking the charts once a week. This is more about my career as a software developer and my quality of life and sleep than about investing.
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Because shadow currency trading is a trillion dollar market in China. When Chinese Bitcoin exchanges became popular, there were hundreds of chinese millionaires already waiting to pour in. These people have no knowledge of bitcoin fundamentals and simply bought in because it was another instrument to trade. Due to the sheer size of these investors, they were able to raise the price 1000% immediately, almost all on their own. I'd say maybe there was a 200% due to bitcoin developments and 500% due to China (200% x 500% = 1000%), so the price became artificially inflated by 500%. If China can no longer trade bitcoin in a significant volume, then the whole 'Chinese bitcoin bubble' needs to deflate. To say that China shouldn't move bitcoin price is like to say that the water should not flow downstream. None of the recent prices or price movements have anything to do with the fundamentals of bitcoin. It is all a sheer numbers game, where the numbers in the east were 10 times more powerful than the numbers in the west. . Bitcoin was the victim of a ferocious parasite.
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I have been having less and less dreams about bitcoin charts lately. The interpretation of this is probably that I am going to be quitting bitcoin trading, which I have been seriously planning lately and am only waiting for the bottom of this latest 1 month drop cycle to take my final position. I did have one dream about the retracements to $475 these past days which was accurate mostly.
Where do you reckon Bitcoin is going to correct to? Mid-Higher $200 range? A price range where apparently it would be unprofitable to mine and which would endanger the integrity of the entire p2p network? I suspect that when you get your 'final' position filled, that you will be watching Bitcoin very very closely. If Bitcoin were to drop into $100 range, it would only be history repeating itself. I'm not hunting for the bottom. I'm just waiting for the next spike down. I don't know what the price will be; I just want some volume and a little uptrend on the daily chart to start. I don't want to buy right now right after all of these trends just went down. I'll have an easier time leaving once it's on the way back up and I'll have more coins too.
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Speaking of trendlines, there some EW trader who gave a 3 hour lecture on youtube about how all of the trendlines are going to break due to EW and they all have to retrace. Even that lower line, the one I'm following, he thinks is going to break. What do you think.
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I have been having less and less dreams about bitcoin charts lately. The interpretation of this is probably that I am going to be quitting bitcoin trading, which I have been seriously planning lately and am only waiting for the bottom of this latest 1 month drop cycle to take my final position. I did have one dream about the retracements to $475 these past days which was accurate mostly.
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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.
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$2 per coin. Really? Even I am not that bearish. I don't think it could possibly go below $140 unless there was a total failure of some sort. I got this number by connecting the support trendline from 2011-2012, and I'm not saying that it will even necessarily go there.
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Oh not this topic again. The 'evil traders' - I see it in every market - not just crypto.
OP is begging everyone to buy, hold, and not sell, so that we can artificially maintain a fragile price that was inflated by traders to begin with. Am I missing something?
Can you draw a chart of what bitcoin would look like if there were no evil traders? (hint: I think the price would be at least 90% less).
What is next OP, are you going people to stop using bitcoin as a payment network and stop buying merchandise and ask the merchants to stop using bitpay and just hoard their bitcoins too? What about miners - are you going to ask them all to hold rather than paying down any of their mining investment?
I guess we just want to treat bitcoin like a ponzi scheme, eh? I'm not saying bitcoin is a ponzi but what you are asking us to do is. Let's only put money in, and we can't take any money out, because it might cause a collapse.
OP is in fear. He sees the collapse happening already. Even though he's not a trader, deep down he see the 50/200 cross on the chart and know's instinctively what it means.
This is an impossible request. You are not going to get all of 10,000s of bitcoin users to partcipate in a conspiracy together to do some sort of float lockdown play. It is too big now.
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I must agree with the OP. As the price continues to drop, I continue to bail the F out... of fiat! 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.
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The lines have crossed
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 Unless you jokers are predicting teh demise of crypto .... ho hum to the chinese ping pong ...BAN=Ping UN-BAN=Pong 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.
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Looks like we need a ThirdMarket now.
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The lines have crossed
best TA ever
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So, rpietelia is doing another one of his "well never see this level again" bets? Like the last one about $500?
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The title is misleading. Please change it. Besides fiat leak not having any meaning, Chinese bitcoin trading has nothing to do with capital flight. Just because someone buys, sells, or daytrades a bitcoin doesn't mean that 'capital flight' is going on. Don't take the little animation of flying bitcoins and flying yuan so literally.
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