Are we going to get another $10 to $20 downward adjustment in BTC prices before returning to the uptrend?

I have NOT sold, and I am just attempting to figure  out the best point to buy some more.  I already bought a bunch of BTC in the $260 range, so, maybe it would be nice to pick up a few more in the $240s, that is if prices are going to go into the $240s... Further, who wants to buy in the $240s, if they are able to get some coins in the $230s?

Yeah, surely, it is possible to make a lot of money on some of the alt coins, including Monero.  Nonetheless, BTC remains the main game in town, and will likely remain the main game in town for several years into the future. 

In that regard, it would be nice to know how the distribution is being affected by these ongoing loss of enthusiasm for BTC ..... and then how that lack of enthusiasm affects BTC distribution. 



In essence from the first post of this thread, you can see that the theory is, more or less, that if there happens to be about 1 million bitcoin users,

1) fewer than 100,000 hold 10 or more bitcoins

2) about 250k people hold 1-10 BTC

3) about 650k people hold less than 1 BTC.


With ongoing BTC market manipulations, sometimes it is reasonable to question how those potential manipulations are affecting BTC distribution... and whether the manipulations cause fewer and fewer people (or entities) to hold the large quantity of coins (because they frustrate a large number of regular people regarding price performance and conceptions of BTC profitability).

For example, when the price is so low (less than $300) and the means to obtain BTC has become so easy, it seems very possible that a large number of people could easily buy and hold around 10 BTC - for less than a $3k investment... that is if they have enough confidence and/or enthusiasm in order to make such a leap into the bitcoin scene.

I continue to be fairly confused about a lot of these kinds of questions regarding who is holding BTC because frequently, we hear news about people in various countries beginning to invest in BTC because they are concerned about retaining value when they have value being held in their own currency.

Just today, I saw a reference to an article about demand being up in Greece by 600% in the past few weeks  (http://www.reddit.com/r/Bitcoin/comments/3gyynx/greek_crisis_spurs_bitcoin_demand_btcgreece_newly/)   ... Whatever that is supposed to mean?

Hey Risto:

Do you believe that the last 6 months of downturned BTC market has significantly affected bitcoin distribution?   Is there a possible projected distribution update coming out, or has such update been posted in another thread?

Define the current "stock market crash"

I would hardly call 1 to 2% in a day or two to be a crash or even less than 6% in three months to be a crash... Now on the other hand, if we get larger downward adjustments or more sustained downward adjustments, that may be another story.

Maybe?  However, there are nearly three more weeks in August, no?  In other words, it seems to be premature to calling August, already.


Certainly, I would like to see some action above $300; however, I would NOT be surprised if, as you suggest, prices remain below $300 for several more weeks.

Wow.   We have had so much time to accumulate, more than 6 months.   I would think that most people, who want to be in BTC, have already taken some kind of stake.  Of course, sometimes it takes a bit of time to accumulate enough money to invest, whether that is to buy 1 BTC, 10BTC, 100BTC, 1000BTC, or some other personally satisfactory variant goal amount. 

I remember when I first started investing in BTC in November 2013, my goal was to  attempt to invest $30k and in six months, and to attempt to accumulate at least 30BTC...... without really realizing that there would be a downturn in BTC prices for the next nearly 18 months.  Anyhow, these kinds of accumulation goals have been tweaked over that time and certainly, i have also had some times of cash flow issues that affect my own personal abilities regarding the extent to which I am able to continue to accumulate.... but fair to say, over the time period, I have accumulated much more than 30 BTC..... hahahahaha..

When talking to people like this, sometimes I get the sense that I am receiving a live troll job, because they get you to go through a detailed, specific and extensive explanation, and then afterwards they act as if they did NOT understand a damn thing that was said (even though you know that they are smarter than that).

I heard something similar from one of my friends.  He asked me, "did you hear about bitcoin?"  "did you hear that the leader of bitcoin was arrested?"   hahahahahaha...   I did attempt to clarify for him, but he kept saying that he does NOT understand, and that he is NOT going to invest into anything that he does NOT understand.  I again attempted to explain a few more things to him, but it seems like he was willingly and purposefully trying NOT to understand anything related to bitcoin.

Danger when Adam is expressing such confidence... hahahaha

Yes, seems like it's gonna be fairly difficult to bring the price below $270-ish.... .. so then, putting money in during these price points seems a fairly safe-haven for accumulating while preserving some value.  In other words, the odds seem pretty good that there is a lot more likely upward rather than downward BTC price direction.

 

ONE of the problems in Bitcoinlandia is NEVER say never.... regarding either the upside or the downside pushes that could occur.

What if we are already in at various price points between $160 and $1100?  Should we continue to buy?

BTC's price movement upward, been so slow over the past 6 months, that it causes many to believe that such upward price movement is going to continue to be slow, maybe even another 6 months.  In other words, maybe we will be lucky to see $400 within the next 6 months?

hahahaha... poor little penguin, squished by the seal.

Can't complain about that.

Is she a penquin, too?   

Generally speaking, money does NOT hit the exchanges on the weekends...

I wouldn't call the up and down price movements of BTC of the past few days (even week) to be a dump, exactly.  We have a little battle regarding the price and also some profit taking going on. 

At this point, over the past weeks, the price has gone up, much more than it has gone down... therefore, the recent trend seems to be generally up....

On the other hand, if prices break back below $250, then I guess, we could surmise that, overall, prices are flat.  In any respect, it seems that we are far from any meaningful definition of dump, unless, perhaps, if prices go below $230-ish

in retrospect, more or less, we have been in an 18 month bear market in bitcoinlandia, and then in the past 6 months plus, we have had pretty much flat btc prices in the $200 range.  Surely it may take some time before prices will sustainably and forever advance out of and beyond the $200 zone.

Bitcoin withdrawals are NOT hampered correct?  Surely, if you want to cash out of any exchange in fiat, then it can be difficult, but most of them do NOT really inhibit bitcoin transfers (withdrawals), right?  Once you have your bitcoins in your private wallet, then you can merely find your own private means of cashing out, if that is what you want to do.

Lots of action, and who knows what happened on Huobi with such a price spike... nearly $400, no?... and maybe someone did really accidentally buy some coins on Huobi for way over market value?   

$300 does seem to be within reach, but I would NOT be surprised to hover in the upper $200s for a week or more.

Just buy and hold.. and buy some more....


I may start to trade once i am in the black.