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I think it would be good for people trading bitcoins to study or at least inform themselves about how financial markets work before starting it or even wildly speculate about what is happening.
For example, what is happening now is a normal correction that happens all the time in markets.
standard corrections retrace between 38% and 62% of the recent advance.
This means that retracements of 1.1-0.5=0.6 * 0.38 = 0.23 or 0.38 $
results in either 0.87 $ (already exceeded) or 0.72 $.
A larger retracement from the 0.17 bottom can lead to a correction down to 0.5
all this is completely normal in financial markets and has nothing to do with bubbles or bubblegums ;-)
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todays update is very short since no change vs by special update from yesterday
The correction is still underway
Another leg down is likely towards 0.7, and possibly down yo 0.5$.
Only a quick rise above 0.89 $ or better 1.0 $ can change this outlook.
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I reviewed the longterm charts and thought I should share this with you immediately.
As mentioned in Friday's update, Bitcoin/USD have started a correction after breaking below the decisive 1$ mark as highlighted previously. The key question is how far could this correction go?
To get a better picture, I reviewed the longterm chart, using logarithmic scale which is most appropriate for this strongly rising market.
Key indicators continue to be strongly bearish: The MACD crossed downwards strongly for the first time in record, and Exponential Moving Average 13 has turned down.
When drawing the already often shown and proven longterm trendline through the last significant lows, it is clear that there is potential downside towards 0.5 $.
As long as prices do not break above the downsloping EMA 13 (at 0.89 $), the downtrend is intact.
A break above 1.0 $ enables a further rally to 1.1$ (all time high, and then higher towards 1.5$, 2$, etc.)
chars here: http://mtgox.com/blog/?p=255
Your S3052
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About half of the community want to ban illegal activities, adult content or HYIPs.
This should be enough for a decision to ban these. Even 30% voting for illegal activities to be banned is enough. Noone could ever want to have a thrid of the bitcoin community leaving beacuse of this.
It even seems that some got so nervous and sold a lot of bitcoins over the past 24 hours. I think it's time to act.
Who can finally decide and execute this ban? Sirius?
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The market sentiment poll is reset again.
Up?
Same as now?
Down?
I don't know?
click on the poll above
Please VOTE! This enriches and improves my BTC/USD forecasts and ultimately helps the community
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agree that it should be manageable from a cost point.
Still a visual link to bitcoin of the outfit is needed.
What about a visualization of "bits" with (golden painted) 1's and 0's all over his body? Or black numbers on his bitcoin golden-bodypainted (half naked) body?
Or
Printing a huge round bitcoin on cardbord?
i pledge 30 btc to help
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Agree that underwear is not really the key point here. What is the conceptual connection of bitcoin to a man in underwear.
It would be more beneficial if this activity would stay close to the purpose / idea of bitcoins?
Why does he not disguise himself as one big golden (bit) coin? Or as "digital wallet, or...
Just a half naked guy will appear in the press as a non event or maximum as a crazy half naked guy.
What we want out of this is that the press will write about bitcoins.
just my tiny pearls of wisdom...
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The dark pool point is interesting, would those trades show up in trade volume on MTGOX? If not, then it's conceivable the recent large buys that led to reaching parity are now being converted back into USD at some profit. Haven't looked at the amounts bought then to see whether that makes sense.
edit:
Did a small test buy, there does seem to be someone selling at 1.05019 in the dark pool.
It will be interesting to see how big this dark sell order at 1.0519 is (we will only know once it is cleared).
Since Feb 15, it looks as if approximately 6000 BTC have been sold for this 1.0519 price. And to reiterate my opinion based on the technical analysis. THERE IS NO BUBBLE IMMINENT. |
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If you ban illegal goods here, another place for them will appear
I think that's the whole point of the discussion - to keep it away from THIS forum if at all. +1 let's at least ban things that are illegal in most regions (cp, heavy drugs, violence etc) |
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If you ban illegal goods here, another place for them will appear.
I think that's the whole point of the discussion - to keep it away from THIS forum if at all. +1 it is needed to at least ban illegal stuff here otherwise its bitcoin suicide at least midterm |
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By the way, I have made very good experiences with Paypal lately as well. Their customer service was immaculate.
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Even if it may disappoint some of you, the forecast for silver is to go DOWN significantly over the next few years.
First to 20 $ in the next 2-3 months
Then to beow 10 $ in the next 2-4 years.
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not sure if the arguments support the call for a bubble.
As with stocks, you can't buy anything with them and still people buy them when prices increase.
The technical picture is very bullish, supported by the underlying volume. Currently, the probability for further rising prices is in my opinion higher.
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**** Quick Alert ****
BTC/USD Prices have again broken 1$ and the overall picture looks very bullish.
We may be just ahead of another significant rally, now that parity is cleared again after some consolidation over the past few days.
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