you cant call a natural proportioned reaction 'dumping'. the trend is up. there was no dumping a few hours ago how does it continue?
You're a dreamer. Stamp is crawling around the floor. Willy stopped buying, so Gox-Boost is tuned off. The only reason that is impeding a hard dump is Huobi. They don't move, and they don't care a lot about Stamp and Gox. There is no visible trend anywhere, price is floating between Support and Resistance. its called a wedge, where higher lows are intact but price fails to make a new high several times. you knew that. the trend is up an this is a typical reaction because it has presented it's self as nothing more. there are too many reasons to comprehend what moves the markets, many being irrational, so any crash talk at this stage is not well entailed. |
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I really dont see evidence for dumping
Dumping on Bearstamp continues...
Now ~15,00$ lower than BTC-E.
 you cant call a natural proportioned reaction 'dumping'. the trend is up. there was no dumping a few hours ago how does it continue? |
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And it is because of many people thinking that way that it might not happen when you want it to. Exciting times...
Almost nobody seems to be buying, I mainly see silly bot purchases on most exchanges. You can even move the price by 10 usd on btc-e with only a handful of btc at the moment. Just plain silly. I have a feeling about this. I believe that: 1. the get-rich-quick sheeple are silently dumping 2. the bots are from coinbase/bitpay (because they have a lot of interest in keeping the price really stable) and from some fiat whales who are silently getting in without slippage. 3. new get-rich-quick sheeple + early dumpers who want back in - they are not buying and waiting on the sidelines instead because April 2013. It is a nerve grinding game. Anything could happen in the immediate. I really dont see evidence for dumping, I dont see evidence of manipulation, the price has been strong and TA validates a rally to come soon. To the people that think bots are manipulating the market, why cant they be countered by other bots? there are big players in both directions right? |
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Dammit when will we see the 700s again. Everyone knows that this is the fair value of bitcoin at the moment, yet we remain in the 800s.
I didnt know that.  i dont know how anyone could calculate the fair value. its all about risk appetite. maybe they are hungry. |
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Anyone know why the price differential between MtGox and the rest of the pack (Bitstamp, Coinbase, btc-e) has increased recently? Not long ago (less than a week?) it was about $100/btc difference, now it's about $140.
I have heard rumours that gox are facing further withdrawal issues or legal issues and that poeple are trying to get their BTC out. obviously it could be quite severe, but so long as the price isnt crashing on BTCE im not worried. what does bother me is how stable it is. I know this is good for the sake of currency but its not natural. |
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I don't see a downtrend either, but neither do I see (or anyone who isn't delusional) an uptrend. Consolidation, with an unclear destination. That was my point though: I don't see a problem with betting on the market moving sideways to downwards. I *do* see a problem with risk management when shorting this market for any amount of time longer than a few hours to a day during a clear major corrective move.
I wouldn't call the bulls delusional per se, it's just the gox chart looks deceptively moonish. I think many of the bulls are thinking something like this:  [/quote] guilty as charged. I think at the very lest its a good reason not to go short. |
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What I see? I see zig-zags, price in positive both daily and weekly BB. What could it mean? It could mean true ending diagonal, which never happened before. And also very fucking risky.
See this forecast: It's the result of long in-depth anal-ysis and fundamental investigation: ^^  A part of me agrees with this chart wholly. very reasonable and well proportioned. |
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you silly boy. not only do you gamble your money, now you gamble your ego.
read his previous post at me.....then u may understand where I am coming from... ....and thing is, when I pit my ego against the ego of 'The Bitcoin Nutter', sometimes I get slapped down.....but most of the time, I don't. Most of the time, I am right and they are wrong. The Bitcoin nutter is a simple creature and not hard to outwit. really matt we are trying to help, you are not in the right mind frame for a trader. I sense you have a lot at stake if this doesn't go your way. margin calls pay my bills. Not sure what this is about... that he's leveraging? Or that he thinks the we're in an overall downtrend? Because pointing out about the former that it is quite risky for a volatile beast like Bitcoin makes sense to me, but I see nothing wrong with the latter statement. there is no limit to how much you can lose when you are shorting the market, and just ask matt when he plans to get out if the market goes up. I dont see a down trend, I see a large correction come and gone. the downtrend was over when price broke $1000 last time, and $1000 is in reach regardless of trend. I don't see a downtrend either, but neither do I see (or anyone who isn't delusional) an uptrend. Consolidation, with an unclear destination. That was my point though: I don't see a problem with betting on the market moving sideways to downwards. I *do* see a problem with risk management when shorting this market for any amount of time longer than a few hours to a day during a clear major corrective move. I think we agree then =) but you may have missed a bit of the conversation in various oter posts. |
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you silly boy. not only do you gamble your money, now you gamble your ego.
read his previous post at me.....then u may understand where I am coming from... ....and thing is, when I pit my ego against the ego of 'The Bitcoin Nutter', sometimes I get slapped down.....but most of the time, I don't. Most of the time, I am right and they are wrong. The Bitcoin nutter is a simple creature and not hard to outwit. really matt we are trying to help, you are not in the right mind frame for a trader. I sense you have a lot at stake if this doesn't go your way. margin calls pay my bills. Not sure what this is about... that he's leveraging? Or that he thinks the we're in an overall downtrend? Because pointing out about the former that it is quite risky for a volatile beast like Bitcoin makes sense to me, but I see nothing wrong with the latter statement. there is no limit to how much you can lose when you are shorting the market, and just ask matt when he plans to get out if the market goes up. I dont see a down trend, I see a large correction come and gone. the downtrend was over when price broke $1000 last time, and $1000 is in reach regardless of trend. |
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you silly boy. not only do you gamble your money, now you gamble your ego.
read his previous post at me.....then u may understand where I am coming from... ....and thing is, when I pit my ego against the ego of 'The Bitcoin Nutter', sometimes I get slapped down.....but most of the time, I don't. Most of the time, I am right and they are wrong. The Bitcoin nutter is a simple creature and not hard to outwit. really matt we are trying to help, you are not in the right mind frame for a trader. I sense you have a lot at stake if this doesn't go your way. margin calls pay my bills. |
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you silly boy. not only do you gamble your money, now you gamble your ego.
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because it rised 90fold in 2013 and bitcoin is more hyped then ever now
i highly doubt we gonna rise 90fold again but 10fold, sure
Yep, and apart from the exponential up trend, an explanation would be that the market capital (10bil) is still very low compared to many markets that bitcoin represents. Bitcoin is gold, a most efficient medium of exchange, a means of financial privacy, and a unit of account (offering coloured coins for example) an escape route, a commodity etc..... These markets are each worth hundreds of billions, and trillions each. this is way a small bull scenario for bitcoin is likely to be 40 Billion at least (Winkelvii - $2000/BTC) and the capital has potential to grow to hundreds of billions ($10,000-100,000) and some would argue more. its totally possible and there is plenty of money (credit!) to go around. The network effects of money are possibly the strongest of all, so BTC is likely to lead the way, and this is why it is unlikely for the market cap to leak into the abyss of alt coins. |
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Yep, I think all those software writers out there need to do the responsible thing and develop only wallets that count in Satoshis. noobs needs to be able to have 10000 Satoshis in his wallet and feel good about it.
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Will Gold and Silver lose all its speculative value to Bitcoin.
Short answer.
No
Gold and Silver have properties that bitcoin does not. Bitcoin cannot replace gold and silver. Also bitcoin itself may fail or become centralised. The scalability of bitcoins will become a problem in the future. Gold and Silver have no such issues and are tried and tested several times throughout history being used as money.
but bitcoin plays the same role as gold only better. 99% of gold will always be locked behind vaults were its intrinsic value will be worth diddily squat. This is only for the purpose of accounting. Bitcoin is the most sophisticated accounting system in history. |
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I don't know where you all are getting this "Elliot Wave confirmation of whatever" but the recent trend looks very similar to the one which brought us down to $455 on gox.
yup, a $50 move up makes me think we are going to drop 50% as well  trends are defined by higher highs and higher lows. we are not talking about $50 moves here, major resistance was broken at $1100. as an elliot wave analyst I am not 100% conivinced this means the uptrend has resumed, because I am no fool, but is is a significant edge, something worth acting on. much more significant than any kind wave wave pattern is the sentiment that goes with it. If people are bearish and the price is rising, it will likely continue. shorts will be squeezed, and Ive heard of too many fools shorting bitcoin heavily now. |
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These charts are not like the bitcoin chart in that the peak of wave B has been topped at $1100. By elliot wave analysis and by sentiment, which is very relevant regarding bubbles, we could easily be in the next wave up. a lot of people are bearish, and taking shorts. I made the point not long ago, and it seems like the market has since begun to release those short positions. $1000 here we come! |
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Historically speaking, bitcoin can easily take out a few hundred dollars when nobody expects it. just need one unexpected news release.
I really hope it goes your way mate but please have a plan B, and dont risk too much.
No you don't, cos that would mean the value of your own holdings going down. Anytime that Bitcoin has risen a couple of hundred dollars, nobody has been expecting it much because Bitcoin had been trending within a certain range for quite some period of time prior to run up. Now we are at the wrong side of a bubble/crash event, whenever resistance prices are approached the exchanges are met with a big increase in BTC for sale which pushes prices back down, with each resistance level falling short of the last. It is an out and out bearish scenario, although there is still always going to plenty upside phases and any bear who bets short during these phases will get their asses handed to them on a plate, as I discovered. Next stop is another crash and bounce at $765, or we drop through this support and fall right down to low $700s. I shall set my short position to close at $765 level (which may be a sure sign that things will fall much lower next time around). YES I DO! bulls win, bears win, pigs get slaughtered! I hodl for the long run, you short in the short run, every thing is fine. and if you want my opinion, it is far from certain that we will see another bubble/crash. have you been talking to proudhon? $850 is cheeeep! its a bloody bitcoin how can you say thats expensive? |
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Historically speaking, bitcoin can easily take out a few hundred dollars when nobody expects it. just need one unexpected news release.
I really hope it goes your way mate but please have a plan B, and dont risk too much.
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Actually its more like this:  An exponential log chart? is this the end of the world?? |
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agreed 100%. if you are angry at the market, youre doing it wrong. "emotions will ruin your profits" - also, profits will ruin your emotions.
its a sport, an art, it will take years of practise and failure before you get it.
I woulds say I controlled my emotions rather well. Yup, I backed the wrong pony and have lost money but managed to avoid succumbing to the greatest emotional temptation, namely jumping sides at the 11th hour. Had I done this then I would have went long in the first instance at $830 (leaving me with $15 of upside) and in the second instance at $840, leaving me with $5 of possible upside....just enough to cover the exchange fees should I have bailed from the market with perfect timing as now that the upsurge has fizzled out yet again short of the previous resistance level ($850) only the most deluded bull would try to convince themselves that Bitcoin was looking like a good investment at these prices. Currently sitting right on the price at which I placed my latest short bet so I am still treading water on that one, but if I never thought that we would see a good few days of sideways trending, then I would extend my short position here in a flash, as there is clearly just not the volume to support Bitcoin at resistance breaking prices. I think most scalpers are looking long tonight, the chart is telling me long. sure, $850 is expensive but its all relative and markets are irrational. I think the most important thing anyone going short can possibly do right now is have a damn good exit strategy, when will you assume long term bullish again? when it passes $900? $1000? $1100? |
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