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for the last 3 days, the market has been pressured upwards in risk off situations.
over the weekend, when there was no chance of a PBOC announcement, the market was stable and lifted. furthermore, news of law enforcement on chinese exchanges failed to carve new lows on western based exchanges.
- there is lots of buying pressure.
today the market is nervously creeping up despite yesterdays fiasco.
If by the end of the chinese day there are no more announcements, the chances grow slimmer that there will be one before April 15th.
This said, I believe we should expect a rally in the next 48 hours, perhaps entering the low 500s.
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I work with the information I have. I don't know any of you personally, so posts are all I have to go on. You neither need nor not need me judging you. It should be neutral for you. That is to say, since we don't know each other at all, my opinion of you should mean nothing to you on an emotional level.
Posters talking about other posters are opinions, not facts, and are not reliable information. When someone is publicly slamming another person, it's kind of redundant to say it's been made personal.
EDIT: If my opinion does actually turn out to matter to you, I don't have a problem with you (or creekbore, really), if that's what you're assuming by my responses.
Everyone's opinions matter to me, that's why I can get very impatient considering every tom dick and harrys opinion with charity. you make sense, and Im glad to have you on the discussion forum. creekbore is an utter troll. interrupting, changing subject, ad hominen this, strawman that. I just cant take it any more, and I just want to break him. - just read his motto - cynical lazy and insolent since 1968. back to discussion. |
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I gauge each individual by what they post, not what someone else posts about them (although I do use what someone says about others to gauge their own character).
Just what I need, another person judging me on shallow evidence. creekbore has been stalking me for a while, and he's made this personal. If I lose my patience the last thing Im worried about is looking like a jerk. |
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+1 Nice post.
Of course, some are so blinded by their ego they are unwilling to explore arguments that run counter to their own.
just like this guy ^^ doesnt have a clue. I explore all arguments fairly. I never guarantee anything, although creekbore would have you believe that in his strawman arguments. and I dont know where our disagreement came in creekbore, because you dont have an argument. |
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This?  DuoBTCle-BTCottom confirmed!or this?  That is the question  Yeah, guess you might be on to something... this could turn into a:  trpile bottom =P |
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will YOU be long when Bitcoin rallies??  |
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like my mum lol.....
Apparently $20 wire transfer fee to mt gox is too expensive to buy a few cheap bitcoins. that was at $2.
I finally bought in at $100 and shes been very quiet since.
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btc-e being pumped
You call that a pump? Dont forget the significance of BTCe here..... they just opened up to the chinese. |
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What I am finding is confirmation bias from both sides. Ignore that which doesn't suit your agenda, and select that which does.
so whose side are you on? and also you need facts to judge confirmation bias. why dont you count up the number of bears on this site, vs number of bulls over the last 3 days. also try collect some number targets. you will find that bears targets are 380. cluster targets are never hit. also try reading Ristos thread. that is where noobs take out their anger. that is where you may analyse validity of arguments. |
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the bear run is at lows. Im not gonna pick numbers, but there will be very little volume traded under current levels.
I thank God Almighty that I'm not the sucker who sold 7000 coins. sorry, not sure if you are being sarcastic there or what. |
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I agree, the bears are hopelessly weak, even after real implications of the ban in China.
I wouldnt say that the bulls are too strong either, but the sentiment is so bearish, especially in the circles of newbies, that the worst must be over.
given just a bit of stability, the bulls will flock back to bitcoin.
How can the sentiment be so bearish if half the posters on here are arguing the same thing that you are? first of all... they are not. Also look closer at the content of the arguments. you will find more fallacies in bearish arguments. strawmans, red herring, ad hominem, you name it. The people who have recently sold all their coins are newbies, and by panic too. they are always last to the party. the hype is about the china ban. it's a fiat bubble. when the real news hits, there is one pathetic spike and no fundamental follow through. the bear run is at lows. Im not gonna pick numbers, but there will be very little volume traded under current levels. |
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We havent even tested 400 yet,... Bears.. I thought u had more power...
Well this strenghthens my belief in a huge upside potential mid-longterm
Good luck all!
I agree, the bears are hopelessly weak, even after real implications of the ban in China. I wouldnt say that the bulls are too strong either, but the sentiment is so bearish, especially in the circles of newbies, that the worst must be over. given just a bit of stability, the bulls will flock back to bitcoin. |
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If we wait for all of this to be accomplished, then the price would have already on the occurrence. That is why some early adopters of BTC realized price returns of more than 100 times their original investment. There is NO guarantee any positive returns will continue or that all of the factors will align in order to allow for positive returns.
this belongs further back in the forum about 3 months ago. now is the time to fight bearish sentiment, and separate yourself from the herd. |
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The problem is not chinese news it's IRS considering bitcoin as property. Anyone who got that already ? Don't you understand what's going on ? Permabull can't see ?
.... not a problem at all! bring on the 8000% gains! |
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It's been a good run. I bid you all farewell. Even the perma bulls.
.... so you think this is the end for BTC? |
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great!
and nobody even noticed amid the china panic!
yet the sellers are exhausted in the face of disaster.
the fundamentals are catching up fast!
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but remember this; there are 12 million millionaires in the world, and 1500 billionaires. there are only 21 million bitcoins, and I imagine most of those people dont have any.
This thought occur to me as well. What to do for millionaires? Ignore bitcoin and try to eliminate it OR try to slowly accumulate some? I hope for scenario #2. The numbers I have seen indicate 29mil millionares with total capital of $89 trln (89X10^10). 1% of of 89 trln is 890bil. So, 13-14 (2014-2015) mil bitcoins have to reach 890bil in order for millionares to allocate 1% of their capital to bitcoin. As such, bitcoin HAS to reach $63-68K/BTC, otherwise not enough value to allocate even 1% of millionaire's capital. If you count based on a full 21mil of bitcoins with later allocation, then minimal value is $42K/BTC. yeah, I dont think they can just ignore it, though some may try. they know all too well that their millions could be gone in a day. the rich must diversify. I really see a panic buy situation in the not too distant future. some of those rich people are smart, the first few to buy in will double the value. thats a huge advantage to the rest. Standard Bank in South Africa has flerted with the idea of bitcoin adoption - to serve customerslike an exchange(it is needed in SA). who owns most of that bank? Chinese! the first banks to adopt will cause a huge wave. if you cant beat them, join them. |
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China will most likely start the day with another round of dumping.
we heard you the first time  good luck to you fonzie  |
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Here's the bottom line, you just buy for a dollar and sell for two.
That all there is to it, and will be.
Will bitcoin be the best and most efficient mean to accomlish that?
There just isn't enough manors for every bitcoin owner.
That's the core of the problem.
the idea is not to sell at all. it may not be the most efficient way, but so was the USD. network effect of money etc..... you believed that when the price was rising right? no, not enough manors for every bitcoin owner, (and that is not a problem at all) but remember this; there are 12 million millionaires in the world, and 1500 billionaires. there are only 21 million bitcoins, and I imagine most of those people dont have any. Are familiar with market bubbles? Seeing any sign here?  we are all very familiar with bubbles. we have seen around 5 of them so far. |
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Much appreciated Rpietila, you just gotta think about the ones you saved |
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