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I'm so glad this little breakout is happening. phew. now it might hold relatively still so I can enjoy my weekend before the next drop. I hope.
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Come to the dark side with the bears and start shorting.
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Agreed. It is one thing to be bullish about a very bright future for bitcoin as world currency, and I don't have a problem with that. However, it is another thing to try to deny blatant facts and twist events around to manipulate so that so that everything is always perfect right now and support your desire for bitcoin prices to go straight to the moon right now and for everyone to follow along and buy. If you are really bullish about the future and the resiliency of bitcoin, then you shouldn't need to do that. That is just being delusional and manipulative.
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Not bashing anyone, but this is worse than gambling, because families lose out when you cash in, not a casino. Every extra piece of pie is on that came off someone elses plate.
Families? The average bitcoin user is a 20-something upper-middle class white libertarian male with money to lose. There are also these wealthy Chinese guys who pumped money into the market in the fall, and the venture capital firms and investment trusts. I don't think there is anyone here using bitcoin to try to feed their family. Everyone here is in the same game - to try to get as much money as possible, and came into it with the knowledge that their entire capital is at risk at all times. Almost nobody 'invests' in bitcoin just to help the technology - to do that they USE bitcoin, write code, or create services for it. Your thinking is actually reflecting that of a ponzi scheme. "If you remove money, we lose". If bitcoin price was actually supported by its underlying economy, then people 'removing money' shouldn't be a problem. |
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I think bitfinex is doing that thing where it accidentally shows the dark orders. That 1K buy is not on stamp.  |
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I don't mind buying at $600 if it is a confirmation that the whole midterm trend is in fact reversing and I can buy&hold comfortably. Just a couple weeks ago, $600 were cheap coins. However, I believe chances are that this is not going to happen.
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There is seriously no confirmed news coming out of China yet?  Hold on while I call up Jinping. |
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So we're at 500. Is everybody happy now? Does this feel better than at 600? At 600 there was a reason to completely panic and sells your coins and now at 500 everybody is like ok, this is perfect?
How does that work in the mind of a panic seller. I just don't get it.
Or do we need to get lower again. Because 500 is now expensive. At 200 there are cheap coins. Is that what people will say next? That they want cheap coins?
I want an uptrend. |
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lol ^  |
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Now that Bitstamp is becoming the main exchange, it's going to take 5K-10K walls to be significant, like the good old days, rather than 1K walls.
True, but there is no 1k sell wall. 1200 at $530 |
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Now that Bitstamp is becoming the main exchange, it's going to take 5K-10K walls to be significant, like the good old days, rather than 1K walls.
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A long journey towards reaching a price actually representing the btc economy rather than chinese pumping and gox pumping. An anemic bitstamp orderbook that's going to have to support itself soon.
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According to this?? what is that? It looks like a line arbitrary drawn on a chart with with only one year of history, completely ignoring previous years. |
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Dear bitcoin. Please stay still for exactly 3 days. Regards, TERA.
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Even if the news is confirmed I suspect that the full drop will not occur until bank accounts or exchanges actually get shut down.
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what confuses me is, that the volume specially on chinese exchange was bit low for a bottom. anyway some of my bids triggered, on ltc i hit the "bottom" exactly  and also could grab some cheap btcs. and now? i think its too risky to sell and hope for cheaper prices. Right the volume is low in China too. The volume was higher on the fall to 3060 than the fall to 2800. Does not feel like a bottom to me. yes thats what i mean, on bitstamp and btc-e the volume was higher on fall to 466 than on fall to 505 but on chinese exchanges it wasnt This is the difference between an exchange that is dying and an exchange where the price is simply falling. People who sell their bitcoins on Huobi are withdrawing CNY as fast as possible rather than staying around to rebuy. Over time, the volume at Huobi will become less and less and volume will shift into bitstamp, bfx, and btce until they have enough volume to support the price on their own. Today, the volume on stamp is 56,000BTC which isn't nearly enough for a bounce when the last crash (gox) WITH China had 140,000BTC volume, and it'll probably need to be even greater than that, such as 200,000BTC volume. |
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Did bitfinex fix the problem where, in order to trade using the trading wallet, you were having to borrow usd and were getting charged swap fees even if you held enough usd in the wallet to cover the trade? I would prefer to be able to handle all of my trading through the trading wallet and not have to move everything to exchange wallet and trade there when I want to go long (to avoid interest) and then move back to trading wallet when I'm ready to leverage. That's too much trouble and it doesn't make sense that I'd have to borrow money and get charged interest when I have enough USD to cover the trade.
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Looks like 3200 was a trap. You could see there was too much resistance and it expended most of the volume from the previous spike before it even got there.
465-475 was a BIG support level with the 300 EMA. But this bounce is on small volume. Everyone of the bounces lately have been enemic. The bears gave the bulls every chance in the world to breach $620. And the bulls didn't even try. Meanwhile, the bears got bored and dropped us 20% on "rumors". If and when those rumors get confirmed on the exchanges I don't see the bulls putting up a fight until $400ish. I could be wrong, but the buyers are just not around right now. And look at emptystamp!  |
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Looks like 3200 was a trap. You could see there was too much resistance and it expended most of the volume from the previous spike before it even got there.
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