http://finance.yahoo.com/blogs/breakout/mt--gox-slammed--why-bitcoin-s-troubles-aren-t-over-160229892.htmlsome really negative bitch slap news up there ^^ The poll on the side goes like this; "Buying the dips" - 7769 people voted. 57% "Staying in cash" - 3605 people voted. 36% "Im out! sell sell sell!" - 2278 people voted. 17% I think at a place like "yahoo finance" we can find the sentiment we are looking for. This is clearly a bullish bias sentiment. We can expect further declines.ps. vote 'buying the dips' and help to fudge the facts!
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http://finance.yahoo.com/blogs/breakout/mt--gox-slammed--why-bitcoin-s-troubles-aren-t-over-160229892.htmlsome really negative bitch slap news up there ^^ The poll on the side goes like this; "Buying the dips" - 7769 people voted. 57% "Staying in cash" - 3605 people voted. 36% "Im out! sell sell sell!" - 2278 people voted. 17% I think at a place like "yahoo finance" we can find the sentiment we are looking for. This is clearly a bullish bias sentiment. We can expect further declines.ps. vote 'buying the dips' and help to fudge the facts!
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may I comment that questioning somebody weather or not they have been short squeezed is not sufficient warning to prevent such things.
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Be patient. By May things are going to look a lot different.
ROFL - we say 'Proudhon was right!!' Proudhon says - "be patient" Proudhon the wise, his name will go down in History. |
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I personally think Bitcoin is dead as a speculative investment, and is moving towards being used as a currency for super geeks. We will never see $2000+ btc  Big finance corporations like visa and mastercard or Goldman whatever will create new crypto protocols and upgrade their banking system for super fast transfers, the mainstream will never adopt an open source like bitcoin, never. This is my opinion and hope u respect it. We have seen drug dealers/users adapt bitcoin, and I dare say the mainstream could do it too - The full force of humanity can be captured by stupid meme's. Paypal does not need to adapt bitcoin for it to succeed, BTCe, Bitstamp etc will grow to replace them. the longest and greatest wave will be driven by the third world and financially butt hurt that actually need bitcoin, because they have no banking system, or because worse, they have a corrupt banking system. smart individuals will make profits using bitcoin among poor peers, and the word will spread like wild fire. when the stock crash comes and you know it will, there are many investors who would be glad to have 1% bitcoin in their portfolio. In the USA alone this represents 1% of around $90 trillion. do the maths. |
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So what do you all wise men think, how bad is it looking now? Seems like Stamp bottomed 530 for the third time now. Is this something we can see as a positive thing? Triple bottom at 530? Atleast it looks like the charts have really been glowing red for some weeks now so maybe we can start hoping for a better tomorrow soon? I guess Gox is starting to be irrelevant and we might be able to move on soon?
the bottom we are looking for will come slowly and miserably over days if not weeks. we are only hours into a fresh medium term down trend, give it some time, it will likely pass through 500 and into 450. the squeeze has only just begun, 600 was not desperate territory. 500 is getting serious. only between 200-400 will the weak be relieved of their stash. |
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Despite the drama on Gox, the chart is still following the natural conditions of a correction. as I noted earlier on the forum, the wave four of an EW progression must bottom within the price range of the previous fourth wave of lower fractal. this means that Gox will not pass $46. mark my words, if the bitcoins are still in the exchange and subject to withdrawal. The forces inside information/logic will overcome the panic before $46.
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News Flash, there are both buyers AND sellers in a market. Some think things will go up, others down!!!!
that is a requirement if the majority are to be relieved of their money. |
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how high will bitcoin spike or how high will mt gox spike? critical difference.
Its amusing how most people believe good news for Gox = ATH bitcoin. total rubbish.
they will sit ready on bitstamp to buy, and they will be crushed by the whales when they fill the arbitrage.
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News good - withdrawals allowed - arbitrage is quickly filled BTCe and bitstamp fall. speculators quickly realise that Gox has affected the value of bitcoin by little or none, and overcrowded speculators resume crash & burn. News is bad - withdrawals not allowed - market nudges upwards in reaction to preparation of good news. speculators quickly realise that Gox has affected the value of bitcoin by little or none, and overcrowded speculators resume crash & burn. how can it go up? WHO will push it up? Mark aint gonna push it up! why to new ATH on this news?  WHY? ?? DOWN IT GOES!! |
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Mt Gox news will come up in few hours. My theory is that the price will go down in other markets.
Explanation:
The odds of MtGox being solvent are >50% in my opinion (~ 90%). Still it seems as the market is frozen and everyone is waiting for the price to go up. Which is ridiculous given the odds; everyone should be buying in the expectation of a crash up.
I believe that the good news (that might come up) are already priced in. I am strictly talking about non Gox.
We will see some manipulation to go up, followed by a crash to $500 and the downtrend will resume.
For those who are positive about gox but use stamp,btce etc. Are you buying like hell, and if not why?
I dont get why the price of Bitcoin should be affected in the least by Mt Gox, apart from the factor of arbitrage. If Mt Gox allows withdrawals, the price on bitstamp, BTCe will go DOWN. If this is factored into the market, and mt Gox goes bankrupt, price will go UP on bitstamp, BTCe. do you realise that if mood should determine that bad news entails down, and good news entails down (arbitrage) then the only way is down down down!! |
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nah, a man could make hundreds of millions of dollas before an impact was felt on the market.
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The value of gold is driven by fundementals of the USD and stock market, while the value of bitcoin is driven by the fundementals of bitcoin.
even at similar prices, you simply cannot compare an asset that has grown 8000% in one year to another that has never seem more than 100%.
having said that, the effects of a stock market crash should cause a small correlation to gold, considering the scale of a stock market crash.
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We all look back at that drop to $100 and wish we had bought at that price.
The thing is, if we all had orders at those low prices it would not have dropped to $100.
You missed the flash crash. Move on. Look to the current market cycle. We will likely stay i
that flash crash was probably a mistake. just because it has happened doesn't mean prices should not enter the territory of 300 - 500 again, Im sure there are many people who expect this other than myself. having said that, Im darn sure it wont get past 102 again though. |
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I have created this page to discuss buy order placement strategies for those holding fiat looking to buy BTC at favoured prices in this bear market.
My idea is to place equally sized buy orders (1xBTC) at $20 intervals starting at 407 and lower to 227. I know these numbers are a bit greedy, but the point that I can sleep well at night with these orders on, because Im not making any large bets in any given trade. It means I can benefit from flash crashes.
What are your strategies?
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its like somebody stuck a stick into an ant colony on BTCe. very high hopes indeed can come from a $40 flash rise! 'to da mooon! $10,000 tomorrow!'
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yep, 666.666....
it will spend hours passing that point from either direction.....
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next year. 2014 will go down as a year of rest and reconciliation for bitcoin.
the longer the rest the better...... the longer it takes, the bigger the exponential curve will be, and the longer it will last. hopefully this movement retraces as far as $300. Then we can start to imagining $10k bitcoins next year. |
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the next up trend will not begin quickly. It will be unclear what is driving it, and seem uncertain if it will follow through. It could take a long time to form a base to lift off from. I think we will see a new ATH in may-june.
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At present there is bidding to the downside by little depth after a quiet day. This is likely confirming that the recent rally was really withdraw symptoms from bitstamp, that traded up to a $40 arbitrage with BTCe after withdrawals were back in use.
By now most needy withdrawals are likely to have been completed, BTCe=stamp, and the down trend has likely resumed.
This is a nice shorting opportunity for day traders or traders looking to reduce.
when the volume comes in the next trading session the price is likey to move more than $100 in order to test $550.
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