Central bankers have stated that this meeting is focused on Bitcoin’s significant price rebound after 4/15
Really, what the fuck? Nothing wrong with this?
Makes you think PBoC might be loading up low. Why would the Chinese government bother with trading bitcoin, this tiny market of a few billion dollars, when they can trade and manipulate other TRILLION dollar markets just as easily, or their own yuan. |
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Once China is out and we are back to real bitcoin trading we learn once again that a sizable bid is 4 digits or 5 digits and not 3 digits.
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500 walls? wake me up when there is a 5,000 wall.
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I just bet on black and won 5 times in a row. That means it will happen a 6th time for sure.
This never makes any sense though, Bitcoin price going up or down is not a 50-50 bet. You would wager that with increased adoption and services, as well as infrastructure and vc investment your odds are way better than 50-50. Not a gurantee but more likely than not, no? The odds distribution is not the point - it's the use of patterns. Adoption is a potentially valid argument for an increase, but the increases in the past are not. I should have found a better analogy. |
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I just bet on black and won 5 times in a row. That means it will happen a 6th time for sure.
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This day in Bitcoin price history:
April 24th, 2011 : 1BTC = $1.7
April 24th, 2012 : 1BTC = $5.10 (+300% from 2011)
April 24th, 2013 : 1BTC = $154.20 (+3024% from 2012, +9070% from 2011)
April 24th, 2014 : 1BTC = $485.00 (+314% from 2013, +9510% from 2012, +28529% from 2011)
Hey there hodler, that's a mighty big percentage you got there.
It looks overbought. |
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Why would the mtgox news cause a price increase? It's basically the worst possible outcome - mtgox isn't coming back and 200,000 coins are being liquidated into cash.
Check out the thread I started in Bitcoin Discussion, apparently it should have no effect at all and in fact should cause an increase in price due to people receiving their compensation and buying BTC with it... +1-1=0 what is really exciting about the liquidation is that some big investors that are not confident dealing with unregulated exchanges might bid the price higher than market (if coins are auctioned). that would be HUGE and speculators would have a field day. Actually I think it's safe to assume that not every mtgox trader will be using all (or any) of his refunds to buy back into btc somewhere. Therefore the net effect will be negative. |
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I just thinking to buy more machines. If that graph really goes down and with more difficulty, did calculate in bitcoinwisdom, its never ROI. 1 TH with price almost 3500 USD (include shipment and tax). How the hell people still buy more machines ?
And why its goes down ? I dont see any bad news, and china's schedule for Global Bitcoin Summit 2014 in Beijing is coming up...
Because there is a small group of people with a lot of coins who want to take us down. It can't be more obvious. The market actually wants to go up. But every single time we go up a bit there is a big dump. Pure manipulation. I have no idea who these people are. I'm not into conspiracies but it stinks. The dumping occurs because of how overbought it is relative to the current downtrend midpoint, and occurs when all the traders, longs, and distributors realize that a peak is being reached and that everyone is starting to dump. They realize that now is the point where they can take the maximum profit possible (or get the most value, or realize the least loss). Then it becomes a competition. I don't think there is a conspiracy, or an evil intent. |
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Also, why would the buying immediately start just on Huobi and nowhere ele, with the other exchanges following several minutes later? It's like they're just firing up their regular pumping routine because there is 'news' yet they don't understand what it actually is.
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Why would the mtgox news cause a price increase? It's basically the worst possible outcome - mtgox isn't coming back and 200,000 coins are being liquidated into cash.
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Huobi responding to the news in typical whatever you wouldnt think the market would do it does fashion.
what news? The final Goxxing. That's a negative news. I thought we were discussing the buying. |
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Huobi responding to the news in typical whatever you wouldnt think the market would do it does fashion.
what news? |
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This, and the other chart with 3 waves going down, down, down. The market rhymes, until it doesn't. Would you rather bet that Bitcoin experiences at least one more wave up (like the 2 pictured above), so that you make 10x with little risk of losing all? Or that it goes down at least one more time, so that you have to use 5x leverage to double your money with real risk of losing all? IMO it is more probable and more profitable to bet on the first option only, and leave the second one aside. As you might remember, I played the downswings a lot but stopped in February 25, not willing to be crushed by the train. All I'm doing in my post is noting how the ichimoku cloud coincide's with his statement about a decision point occuring in 30 days. I'm not even saying which one will occur. |
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It either ends soon (in the next 30 days) or it gets ugly.
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I just thinking to buy more machines. If that graph really goes down and with more difficulty, did calculate in bitcoinwisdom, its never ROI. 1 TH with price almost 3500 USD (include shipment and tax). How the hell people still buy more machines ?
The price going down is not a guranteee! That was just Teras prediction. I'm not even predicting how far it's going to drop - just that it needs to find volume. It could be at 400 and that would be lovely. |
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Why talk about the Chinese when we can talk about US exchanges opening and Wall Street flooding in?
People hate China but know the power it has when it is in so they still want it - they want that easy fast powerful rush, so they can get their rally NOW, even if it falls apart again later. It's like a Chinese opium addiction. |
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The 'wall street money' event that I look forward to is not when some mysterious big players decide to make bitcoin investments - it is when any person can buy bitcoin using their brokerage account via a stock exchange, fx, or comex.
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 It's such a simple and consistent pattern - I don't know why everyone is so suprised every time. It is surprising to see a pattern, since most of the ups and downs are clearly related to external events -- such as the "bug in bitcoin" and the Caixin article. Perhaps these just trip the spring that some "market sentiment cycle" has strained?
It's such a simple and consistent pattern - I don't know why everyone is so suprised every time.
It is NOT going to last forever, is it? And isn't the pattern running out of steam (which is motor running on FUD) The trend as a whole is being driven by one simple thing - a lack of buyers and volume (and perhaps a pile of a million coins that need to be dumped, but we're not sure of that). Supply > Demand, and has been since January when the big Chinese players left. It is the waves inbetween that are being pronounced via good news and bad news, but neither of them affect the larger trend. I do agree that the trend seems to have gotten weaker ("running out of steam") on that last leg down. However, it is not technically over. The end of the trend should be marked by another high volume wave down which does not establish a lower trading range, like a W pattern.
I do appreciate your various technical explanations; however, even you seem to contradict yourself from time to time when, for example, last week you were suggesting that you thought that we may be coming out of this. Additionally, your extension of the last line could actually turn into a "w" rather than a continued downtrend - especially b/c it seems that there has been considerable difficulties in getting the price to go down further in the last week or so. These bear whales are NOT going to want to wait forever to attempt to push the price down further, if that is what they want to do. They need to act soon while they have the potential momentum - otherwise they are going to lose the downward momentum when buyers start to flood into the space out of concern that they do NOT want to miss the upward train. I was bullish last week when I saw how the trend had appeared to be weakened and running out of steam. However, that did not mean that we were immediately breaking past $540 into higher levels without another high volume retest of lower levels. The key is volume. There needs to be a big red candle with a lot of volume which does not affect the new upward trend - and price continues to climb back up all the way to where the candle originated. So far this has not happened. I had high hopes of it happening last week but it hasn't so, the downtrend is back on until otherwise proven broken. I don't think there is one bear in control of all of this or someone who has a malicious intent to bring the price down. Rather it is a collection of competing and opposing forces. It is a market - and right now one side is stronger than the other. |
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