There is however the possibility of a market crash on normal stock exchanges and I don't really know how that will affect bitcoin.
I think a rocket-powered "choo choo" could result from the stocks scenario!  |
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Mtgox Buy Wall @ $910 is magnificent! I salute you, wall! So we have people encouraging each other not to sell and now 'saluting' an obvious manipulative wall which will keep the price higher for a while. Sell you morons! Fuck you fake wall. Feel better now? Bad wall! Naughty Wall! Damn I forgot to write my post about the Berlin Wall...  better get on that soon! |
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I think in the not too distant future we'll touch 400-500 again. I feel the price increases since the China crash are almost entirely down to the whales on Gox. Since it makes no sense (certainly not for a whale who knows the game) to deposit large sums into an exchange that not only has the highest BTC price but also is just about impossible to get money out of, it must be for the purpose of manipulation. I feel BTC is still in a pumped state, essentially. The bulls will disagree but I just don't see how this can keep up, even if Gox itself doesn't fall over sooner or later. The elephant in the room is the fact that Gox has become a black hole, no longer keeping up their side of the deal. Not sure why this rather huge issue is ignored by the masses. Gox has become a liquidity trapped time bomb really, with BFL-esque customer service.
Opinions diverge. I believe we are more likely to see consistent growth and this is in part DUE TO inefficient exchanges. I've had my own experience with exchanges, I've read others' experiences and I've seen the exchanges posting notices apologising for delays etc. I believe they are still clearing and processing new accounts and backlogs while taking on the burden of additional KYC responsibilities, all the while with more interest growing daily. Do you think they were working all holidays and not partying like everyone else (probably more than everyone else ) ? We have not had one full week of business yet this year, and they have catching up to do, which to be fair they are trying to do in my opinion, but with the viral explosion of interest keeping up is going to be nigh on impossible. The upward pressure will be there for a while now. |
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One hell of a weekend we've got going here! |
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It's not true. Don't fall for it. Someone wants to start a crash.
Jeez. Never knew about that. Thanks for bringing this to my attention, I am just away to offload all my bitcoins. I have penny's to gain by keeping them if it is not true, and thousands to lose if it is true. Bitpay CEO has 'denied' these reports, apparently.  Whatever you do MatTheCat do not sell your Bitcoins now you over-twitchy son of a gun!  Already have. Pennies to gain in short term if rumour is false, thousands to lose in near term if rumour is true. Even if this rumour turns out to be bullshit plenty people are gonna bite, as I have just proved. If the rumour turns out to be true, well....... I really hope you're fucking joking. |
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So we saw a $10 drop on Bitstamp because of an unsubstantiated rumour, the FUD worked a little bit better on btc-e but even there not that many people fell for it. If Bitpay really was hacked we would have probably seen a 50% drop in price within a couple hours.
Of course without any good reason. |
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It's not true. Don't fall for it. Someone wants to start a crash.
Jeez. Never knew about that. Thanks for bringing this to my attention, I am just away to offload all my bitcoins. I have penny's to gain by keeping them if it is not true, and thousands to lose if it is true. Bitpay CEO has 'denied' these reports, apparently. Whatever you do MatTheCat do not sell your Bitcoins now you over-twitchy son of a gun! |
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otherwise why the hell are they still all trading a commodity that there government has meant to have just given a death sentence to?
I really wish I could give a death sentence to all news about China but I guess that is just not realistic. |
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It's simply not true. Please edit the title of the post to make this clear now.
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It's bullshit! Don't fall for it! HODL!
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To be honest, and I may be wrong, it looks like it could be bullshit at the moment.
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The story is not clear at all yet. Bide your time to find out the real facts!
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Keep hodling folks. This is Bitpay's problem only. This kind of news could be the thing what could cause the long awaited crash, you only need a small drop and the trollbox and panic will do the rest. That's why it's best to stay calm. |
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Keep hodling folks. This is Bitpay's problem only. |
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Thanks, I will be OK because i'm HODLING until a new top far above last ATH is reached.
Btw, will not everyone be looking for a crash also above 1240?
You know, theoretically-speaking if it ever were to become clear that we really were progressing onto an S-curve, I think every financially-wise person would cash out as little as possible, thus effectively negating the worry of a crash (disasters notwithstanding) for a fair while. Incidentally I would however feel obliged while on the S-curve to spend plenty of Bitcoin to sustain the Bitcoin economy, which of course must evolve alongside the value of Bitcoin if things are to be sustainable. I don't know about others but personally I don't see Bitcoin working simply as a store of value like gold for example. Working as several things at the same time including as a store of value yes, but just something to be kept in a digital vault? No. |
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I will agree that the last crash probably will not happen, but be aware that if it happens, now is the time for it. Personally I think the risk of not getting on the train in time is much to high to trade.
Everyone does have different opinions and mine differs from yours! I think this is quite the opposite of the "time" for the crash. Come Monday we have the first full week of business after the New Year. Everyone knows that. Every day there is a new news article pointing to investment and adoption of Bitcoin in 2014 by important players in important markets (Wall Street, E-commerce, Apps, etc. ) Did you read the Zynga news today? Of course this doesn't mean that you can buy an APP for Bitcoin on Zynga right now today. But what it does mean is that Bitcoiners, especially those thinking of day trading, can at last take room to breathe once in a while. With price rises like this in the past day traders had to stay glued to the charts 24/7 just to survive; now the pressure is just beginning to ease off, and "Hodling" is just starting to look like the soundest strategy even to a day trader. Maybe others don't agree, but I think the fact that the stress is starting to ease a little for some of those invested in Bitcoin who might have been feeling nervous as hell previously, has an effect on the market. |
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I am bullish, if we break through the 940 level with out much hesitation I think we are well on our way to 1500
We need a breather. Hodl tomorrow before things go wild. |
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This analysis makes more sense than most of the "pro" ones. Good to see some common sense for a change.
perhaps, but it leads to no strong conclusions, just a general sense of what one person believes about market sentiment at the moment. how would one trade using this analysis? what strategies does it suggest are successful? how likely is it that these strategies will actually be successful? can the OP answer any of these questions? --arepo If we do go up sharply as Hellork says then I think although we might go quite far (certainly past $1,000) then it would become unsustainable. In which case be prepared for a correction back to the green trend line. Not so much of a margin to trade on if you do not have a lot of money but there we go. Best strategy = Hodl (not what you wanted to hear I know ) |
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updated 3 month snapshot:  We are moving into the first full week of New Year business. Dare I say it but... choo choo? |
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