We just got in the hundreds today. I'll judge by how quickly we drop lower when i buy. I'm thinking by Friday I'll have purchased btc. ($20-$80 range)
Hint: Price is below the production cost. We only had this few times in the past. |
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- The Bitcoin now is in its short climb up to 750/800. Then begin their fall!
I'm not sure about that. If we stay in 775-800 range for more than few days, you and millions of other traders will be looking at the reverse head and shoulders pattern. Who is going to sell this downtrend breakout? I think chances are we'll have another failed attempt at 700 or go down from 670. If we go down at all. It all depends on the selling pressure around 700. I think shorts/sellers are getting tired of getting burned, so next attempt might be successful and we break 700, go to 750, retest 700 and back up. The longer we stay above 600, the less selling pressure you'll see when the market moves up. So forget about falling from 750s+, if we continue downtrend, we'll do it from high 600s, IMHO. |
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Anyone reading this post has an IQ higher than the average person.
Really? Why? To answer your question: Adoption takes time. It is like watching paint dry. First fiat ATMs were installed in 1969. How many 80+ yr olds are using them today? Chances are that your friend will never use bitcoin, his daughters might use them because their kids will use them. If you are in your late 30s and not using bitcoin today, chances are you'll never trust the technology and will refuse to use it even if it replaces all fiat cash. For the full adoption, you need to have at least one new generation born with that technology. Look at what happened with the Internet. If it wasn't for youngsters, Internet and social media would never take off the way it did. I remember explaining TCP sockets to people in 1990, they were all looking at me like I was an alien or I have completely lost my mind. I get the same reception with bitcoin. Young minds are more malleable. Once you finish your formal education (aka brain castration), most likely than not, you are brain dead. You need an open mind to accept new technological breakthrough. Think "tabula rasa". So if you want a broader adoption, talk to your kids, explain the technology to them. I find it is much harder to convince someone in their 30s (or older) to use bitcoin than it is to convince a teenager. 10 minutes later, teenager will be using bitcoin. Older folks, well, not so much. You might get 1 convert out of 30. |
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Gold has only one stable isotope and as the current understanding of physics goes won't be possible to be created artificially on an economical viable basis. (The amount of energy required to do so prevents it)
The treshold of "economical viability" may change with time. If you want to hold precious metals for 30+ years: Better buy silver.  Exactly. What if in 10 years gold is $5k/oz and this technology begins pumping out gold at a cost of $4k? The number one reason people buy and hold gold is that it can't be printed and devalued like gov't money. Once they can "print" gold with these machines, what happens next? In that case, I agree with the OP that virtual "gold and silver" (BTC and LTC) will be the only thing left that can fill the vacuum left by the loss of confidence in physical precious metals. Tungsten will at $2K/oz, gold at $4K+/oz. Nobody will be producing (assuming the process can produce stable gold, I'm not convinced it can) something at a loss. |
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pictures of rockets, trains, and dinosaurs are the best TA.
I thought it was whales and unicorns  |
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As a means of moderately wealthy people from crisis hit nations/economies, getting their capital into an ultra transportable form without necessarily having access to international finance...
+1 Try to leave such a country with a suitcase full of gold bars. Micro SD card is a better option. For the paranoid types, embed/obscure your encrypted wallet in any picture or pdf file and email it to anywhere. |
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Warren buffet declared bitcoin as useless and strongly believes bitcoin and Cryptos will die in 10 years. He also thinks bitcoin is a terrible investment. This guy has been right ALL THE TIME and is smarter than the piglets and peasants on this forumAlso confirms my theory that bitcoin has run its course as an investment Don't underestimate him, Big money will now stay away from bitcoin and I speculate that the price won't return 500% or more http://www.coindesk.com/warren-buffet-bitcoin-currency/He lost billions of dollars on ConocoPhillips in 2008. He might be right about the bitcoin though. In 10 years, there might be better applications of the blockchain concept that might be more profitable. But by then bitcoins might be exchanging hands for more than 50K/coin. In 10-20 years, Buffet might not be around to see it. |
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Market deciding whether to snap the record 8-week downtrend, or ... not...
sweaty balls indeed.. inb4 bulltrap in to dead cat bounce. You sure about that? The bid is there on this breakout of the down trendline. I'd close the short if I were you. Too bullish. Shorts were selling like crazy into 1000 BTC bid @ 572, then it all looked good, then another 1800+ bid came to push it above the trendline. I'd put a short stop at 585 if you are still short. |
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If Russia will start invasion into Ukraine this could damage its economy because EU and US likely will impose sanctions.
EU will beg Russia to turn the gas&oil back on...They got them by their balls  EU & US will bark like little dogs, but in the end they will do nothing. |
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Since we have the 4hr MacD, threatening to hit a crossover, and since we have not yet had any meaningful correction from a whopping $400 - $610 recovery, my money is on $550 being broken to downside.
With all that in mind, Bitcoin @ 578 (right now) could yet be a cracking short trade, being sure to keep a close eye on how Bitcoin reacts and bounces of the $500 range.
the 4hr MACD is almost there, but RSI is not. We need another push to get RSI into overbought IMHO, then both RSI/MACD will be confirmed. Say, 580-600 again, followed by a pullback. |
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It's really simple. Two strong trends collided and are smashed up against eachother. Everyone was extremely bullish after the gox reversal and wanted to buy buy buy, but then the price collided with the month-old established bear trend, and stopped the rally. Everyone was still so bullish that they didn't want to accept that a retracement was neccessary to break the bear trend, so it just stalled out. I still think it needs to go to ~500-530 first and consolidate before it can break the trend. It might take some news event to shake things up.
I have been sleeplessly watching this like a hawk. Until China started playing, we were heading for what I would have thought was a bull trap short squeezing break out...then Huobi started selling off strong.....the rest will fall into place like dominoes from here....although there still may be a bit of bullish stubborness to be shaken out market before correction kicks in good n proper. I'd not count on 500. The 4hr improved quite a bit for the bulls. All this on a ~$20 pullback. |
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Can someone explain how the price is so stable all of a sudden? It's like the roller coaster is out of order.  Gox ran out of money so they can't manipulate the market any more? Unless they lost the private keys like some suggested, the coins are still in circulation. It does not matter who owns them. If you own even 100k coins you can move this market anywhere you want. |
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low volume and narrow bollinger bands indicate that we'll break out of this range soon. 4 hour indicators point to a down move, but this is bitcoin, so I would not be surprised of another jump to 650-700 before we ease.
PS. Maybe it is an option expiration thing. We've got to be in this range until end of the month?
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I vote for formal licensing of politicians. Introduce some minimal entry requirements (educational, experience, moral and ethical standards) into this profession. Doctors, engineers, nurses, truck drivers and pretty much all other trades need licenses. But not politicians. Politicians make important decisions, only the brightest of the brightest should be allowed to enter this profession. In Canada, a real-estate agent with a high school diploma and a 6 month real estate course can be a Minister of Health or Education Same is true in US. Popular morons end up on Capitol Hill. He or his croonies had money on mtgox and now he is pissed. He is a greedy moron. Nothing against football players. But football players from rich families on Capitol Hill? Please. |
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I wonder if we will break the ATH. Bitcoin please go to 900+ so I can recover my losses You and countless others. $800-$1000 range will be huge resistance as most folks (in red now) will be getting out |
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I don't see any reversal until 720-750+
It is going to push to upper trend line if it can, but overall the channel is down unless we jump another $150 on stamp.
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Would now be a time to buy if you had not already? (560 ish)
If gox further delays withdrawls will the price plummet again or would it be smart to buy now (560 ish) on other exchanges.
If gox officially goes under, will prices get lower or has the gox impact officially been over and its up from here.
Thoughts appreciated.
Look through as much bear market trend reversal chart histories as you can find. Try and find one that crashed brutally, then had an 85%-90% recovery, and then didn't go on to test the bottom in order to confirm uptrend. When you have found yourself some historical examples, including those you can easily view in the Bitcoin chart history itself, you can then decide whether $560 is a good long position at this point in time. Always a gamble, but you can help tilt the odds in your favour by narrowing down what the probability of certain events playing out are. Hint: Far more likely than not that you will get much lower buy-in opportunity than $560.....would be nothing out of the ordinary for Bitcoin to dip back into upper $400's. I counted 3 waves from 400 stamp bottom to 610, corrective abc to 560, so 630-650, 5th wave? Maybe truncated to 625-630ish, but then you are going to retrace at least 38% of that 230+ move, say 580 on the C wave, or 50% ABC retracement down to 500ish on C. Buying 5th waves was never my thing, but it might be ok. Shorting 5th has always worked, just like entering long on 3rd |
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can you explain your calculations of how it will never go under 600 again? on my chart i see a 55% increase in 20 hours that has has no retracement at all. under 600 is guaranteed.
+1 a break of ~550 would create an air pocket to 500-505 or lower. So for the bulls, the best scenario is to continue and extend rally to 630-660 and back down to 590-620. But if we start to go down, be quick to short at 549. The more people believe we are out of the woods (like OP), the higher probability we are going to retest 500s or even 450s. |
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