I can't bloody believe that I miss top two days in a row while sleeping  Lol I told ya, you missed the surprise confirmation of the official ban confirmation.  |
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Well, good for you. Some decide to ride bear markets, and some decide to move their wealth from bear markets to bull markets. It's a little hard to understand on why the hell would anyone want to ride a bear market though, if he isn't so heavily involved, that it would be difficult to move out. You could just move your wealth to another investment, where profit is more probable. Makes sense right? But, I think that the cult issue comes to play here. That there are people who consider BTC more then making money. They actually believe that they are contributing to society by investing into bitcoin. It doesn't make sense to me, because bitcoin has even bigger wealth distribution issues then the monetary system run by global banking. But well, this is religion and religion shouldn't make much sense. Religion can mostly be classified by the dogmas that are supporting it. Religion shouldn't be argued over. If some people chose to live a certain fantasy, then it should be their freedom to do so  seriously, you are not very bright. holding fiat is a neutral position. and whats your point? could you stop the fallacies? |
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It's impossible for it to be "priced in"
1. There's still a chance it doesn't actually happen ,and it hadn't actually happened yet. Action is louder than words.
2. Chinese are still buying bitcoins.
3. Chinese are still holding bitcoins.
4. Chinese exchange operators are still trying to say everything is ok and that they will try to continue to operate as much as possible.
5. There are still people calling it "FUD".
can't you see why those two factors do not belong in this argument? this is not a ban of bitcoin in effect or in law. The chinese still have many ways to buy and trade bitcoin, and they may legally hold it and use it. Huobi is operating..... BTCe is operating.... If 'it' happens, we still dont know exactly what that is. regulation in china is cloudy. But we do know what it's NOT. ^^ |
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You will see the end of this bear market by these following indicators.
1) The price will go lower then most expected
2) The price will remain low longer then most expected
3) The loudest and the most enthusiastic bulls will start to blame bitcoin and everyone involved for the situation and then write dramatic final speeches of them leaving.
If you will get tired of seeing indicator 3, then it's time to buy, not before.
oh thats cute, you are obviously new here. I rode the great bear market, I am turning bullish because of #3. |
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Take a lesson from physics. It takes a lot of work to reverse an uptrend. There was a lot of force behind that bounce and I thought we would end up going all the way to 550. 4 hour MACD was way up. A sudden drop to new lows is not really feasible right now, especially with btc38 which wasn't that significant of an exchange. Now wait till 4 hour macd goes down and then you'll see your follow through.
so you are saying that the news is important? or are you saying that the macd is important? or is the trend important? They're all important. You didn't get my analogy to physics did you. Think of the news like a small increase in gravity, but your projectile (the price) was already on its way up with a lot of momentum and it's going to take some time still to bring the object to a stop and then into a fall. I do understand your analogy. all too well, I know the market is sometimes totally irrational. this could go on for days before the 'news' kicks in. in fact, it has. there is no good reason why the market should crash tonight. you might have to wait another 2 weeks and see if your theory works then. |
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Take a lesson from physics. It takes a lot of work to reverse an uptrend. There was a lot of force behind that bounce and I thought we would end up going all the way to 550. 4 hour MACD was way up. A sudden drop to new lows is not really feasible right now, especially with btc38 which wasn't that significant of an exchange. Now wait till 4 hour macd goes down and then you'll see your follow through.
so you are saying that the news is important? or are you saying that the macd is important? or is the trend important? |
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Bitstamp hasnt even left it's daily range. Im not shakin in my moon boots cos of a $10 drop.
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Here is a small part of btc38 statement:
Upon request, we will also revoke the transfer of bankrenminbi
We will strictly comply with the notification provisions of the central bank and to suspend recharge the renminbi
So btc38 clearly received instructions from central bank to suspend their bank account for exchange purposes.
yeah and whats surprising about that? this already happened 2 days ago? nobody really cares... every time this FUD is confirmed the market cares less. the market is relatively stable now at 480. |
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I guess this is just more "FUD", right?
will see soon TERA. it has no follow through..... the real players are obviously not convinced. this has happened before, just two days ago. it's just FUD. |
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Excellent
It has no follow through, this is not significant news..... the last time they released this news the market rallied to 513 shortly after. |
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This has no follow through..... these chinese shoot first and think after. This news already came out.
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maybe you should have gone short at 490.
there is some more 'news' about. check it out. nothing new. this will fail just like the last one. |
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Cheers yomofo you are always so quick.
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My point is I believe that the inpact of an actual shuwdown would be much greater than the impact of the mere information that such is a possibility. As long is it is not actually done yet, there are still people with hope, still people believing in "FUD", still Chinese buying bitcoins, and still Chinese not selling their bitcoins. The 'chinese ban' has happened so many times that people think of it like the boy who cried wolf now, but wait until it actually happens.
The FUD is certainly not chinese buying bitcoins, the FUD is chines banning bitcoins, which is not true in effect or in legislation. The market has had many months to prepare for this. it's not a convincing theory. if the chinese dont want to sell their bitcoins, maybe they wont? |
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I don't get the people who actually think this is a major trend reversal into the next bubble when huobi is still open and still leading. Like they didn't learn the first 8 times.
key word 'leading' which way is it leading? UP it's obvious it's reversal. we've had 100% confirmation and worse, but the chinese just don't care. you would know it's a textbook reversal when there is bad news, the market spikes and then rallies. sellers are exhausted. you should expect a big rally, at least before the 14th. I don't care about "news" - I care about what happens when the Chinese banks actually get shut down. how did you learn that they would? |
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didi anyone catch the volume on those huobi sells? 2-3k btc or something?
Thats about right. |
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Will have to do better than that Huobi.....
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I don't get the people who actually think this is a major trend reversal into the next bubble when huobi is still open and still leading. Like they didn't learn the first 8 times.
key word 'leading' which way is it leading? UP it's obvious it's reversal. we've had 100% confirmation and worse, but the chinese just don't care. you would know it's a textbook reversal when there is bad news, the market spikes and then rallies. sellers are exhausted. you should expect a big rally, at least before the 14th. |
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what the average stoploss for ppl who did short @450-440'ish?
margin calls will be at around 700 if 2.3:1 leverage. 500 will cause a rush. |
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You guys should be focus on getting the "money in" from people actually using bitcoin as a currency for commerce rather than from "investors"!
investors must come first to set up the infrastructure. It cant happen the other way around. Even if this was true, it means investing into just that: infrastructure. It doesn't mean buying bitcoins. I didnt say they would be buying the coins, and indeed they are setting up the infrastructure at an alarming rate. that IS the focus on getting the "money in" Investors are none the less needed to take risks. Investors will cause the first wave. It will be easy to get more investors and commerce to use bitcoins when this is complete. |
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