RULES OF ENGAGEMTN NO ALT COINS!
Can you explain this part? I thought trading alt coins would one of the best ways to hodl. Alt coins are much easier to trade than usd and if I'm making massive profits trading doge/btc then I won't even think about using those bitcoins to trade btc/usd.
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The days of $1000-1400 BTC are over. LTC will never see triple digits.
Just my guess, With such long transaction times for BTC why would the value go up when so many new coins with faster speeds and better technology are available?
BTC will sit around $800 for 2014.
What coins could take bitcoins place as #1? Dogecoin
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So when it drops to 16, will you buy this time or will be scared to death and miss the chance once again?
It depends. If it lasts longer than 10 seconds, I might have time to properly analyze the situation.
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The logarithmic chart is way overbought. We could use a healthy retracement, like this:
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Jesus! Stop dumping already! Hasn't it been more than enough already?
I was thinking the same thing, but with buying instead of dumping.
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It appears that someone dumped around 20k bitcoins all at once, probably scared that Bitcoin was broken. Or it could have easily been an early adopter with insider knowledge at MtGox who shorted just as the news came out.
Speaking as someone who has been paranoid about the 25k the FBI is preparing to sell the reaction of the market gives me hope. It dropped on a 20k sell and bounced right back. That is pretty significant. It eases my worries about a 25k sale quite a bit.
Plus I am glad I had a big purchase set up at around 600/BTC.
The majority of the bounce back could be just the same people who sold buying back once they read the issue was a not a big deal or closing their shorts and trades, rather than it being new investors. But if the FBI dumps 25K, NONE of those coins are getting rebought by them.
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I was paralyzed with fear when this was happening. I had an array of orders on bitfinex between 250 and 550 but I cancelled them all because I didn't want to have my account liquidated in the event that bitcoin was actually dying due to irrepairable protocol exploitation or failure. If I left the orders, I'd be about $100,000 richer right now (or I'd be liquidated, I'm not sure... or maybe the trades would have been rolled back)
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Forced margin liquidations into thin books. What do you think a solution is?
This is a new occurence on btce problably because they just implemented MT4.
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Wow look at the orderbook on stamp and the massive buys yesterday. Still expecting it to trend into $400?
Based on the trendline analysis, yes. We have many long, agonizing weeks to go until it gets to be improbable according to the trendline. It is normal to have rallies based on false hopes, it is part of the capitulation process. I think we saw the first signs of capitulation though, people losing faith in Bitcoin and quitting. When it finally hits $400, you do not want to buy. You fear for it going to $200 and you losing 50% overnight. Then it is the time to buy It looks like more than just a rally. It's a huge fking bidwall, 8 million new dollars on the books, in front of the bottom, overnight. It just rose from a total of 15.5M to 16.5M as I was typing this, almost to ATH. Now the book looks completely warped into the bulls favor. How are you going to get through that? It's going to take an immense pressure, and that huge bid could be could be regenerating the whole time. I felt fear yesterday. It wasn't fear about the price trend though. It was fear about a software bug and about exchanges running with my fiat. Is this something your service could help with?
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So it's just a trap in general.
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There was an article on here earlier that gox is already processing cash withdrawals. Was it fake?
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Wow look at the orderbook on stamp and the massive buys yesterday. Still expecting it to trend into $400?
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I still don't understand OP. Could you give a date or post a chart.
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It's getting dumped at market on Bitstamp. Get ready.
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Months ago I saw a youtube tutorial on to steal coins from mtgox by using some software that finds internal transactions floating around their system and rebroadcasting somehow. The video was written years ago. I figured that mtgox had fixed the issue already or software was a virus (not that I would do something like this anyway). Is this the same issue that mtgox just announced yesterday, still not fixed, after years?
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This may be overall nuetral or end up as slightly bearish once the mania of the bounce is over. Some of the speculators might find it bullish that there was support in the markets and that some coins may have switched to strong hands. However, from a merchant perspective and from the perspective of financial institutions that were looking into bitcoin, this may be a wake up call that the markets are still highly volatile and manipulable, and that bitcoin is in fact a SOFTWARE, in beta mode, which may be susceptible to bugs and failures. They must trust the 'dev team' (an element of centralization by the way) who they don't know to be able to patch these problems, and do in a timely manner, or all is lost. Someone might think twice about adopting bitcoin now.
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Looks like a hard bounce off of extremely oversold conditions in bollinger band and RSI (even I was never expecting it to drop this low this fast). However, it recently crossed under ichimoku cloud which is now sitting at $775. So I'm not expecting a sudden rocket to the moon (or even 800). I think right now we're just seeing a frenzy where people are panic buying their coins back after they panic sold due to the news and thinking bitcoin was doomed. Once the rebuy is over, things might settle down and then drift into the next (or final) downwave.
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BITSTAMP seems to think that this is bullish. I'm not sure so much about the other exchanges, but the action on Bitstamp and its order book is unreal. My guess is there's some investment firm or whale that operates on Bitstamp and just scoops up tons of coins during crashes like these (silk road, china, etc, and all corrections during november rally).
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Bitstamp is like Piccolo, you cut off its green arm (bid side on the order book) and it just grows right back.
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It will be interesting to find out how many coins SecondMarket bought during the gox crash. I wonder if they had bids on Bitfinex or btce.
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