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when your trading strategy depends on poeple being sensible and not greedy, you're fucked man.
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what happens when 5 million bitcoin bulls says " i'll just hit the buy button with 500$ for the hell of it " and then realize they actually wanted to hit buy with 5000$???  were going to mars boys! |
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When the market is being controlled by literally one deep pocket whale or a small consortium, it's gonna be a while. They will take their time, keep short squeezing and selling into strength until all interest in the market is exhausted. Then they will dump.
Could be weeks before it all plays out. Check back at the end of the year.
Pretty much this. After watching bitcoin for only six months , I am amazed how grossly the BTC market is being manipulated by Chinese exchanges working together with a handful of deep pockets/mining cartels. From fake DDOS claims , to shamelessly pumped volume to front running and insider trading.Trading bitcoin looks like a bad joke right now.I might even state that bitcoin won't succeed without either decentralized exchanges or heavily regulated/audited ones. And I don't think China is keen on western regulation. Just my 2 cents. Disclaimer: I bought all my coins from May through October this year most of them below $250 and overall am more than pleased with my investment but I am also done hodling for now. The BTC market is unpredictable in the short term, but longer term the obvious patterns form. If you are a long term bull, then trade on the long term patterns. Buy/accumulate when the market is bottomed and no one cares, sell near top of rallies. Then be patient to get back in, because a rally bubble can take a while to unwind. A LONG while. There may even be several mini bull runs/short squeezes along the way, but ultimately the price ends up bottoming out way lower and all volume/volatility dies. If the rally just started back up right now (4 days after the top), and buying volume suddenly increased out of the blue like what was seen in the last 6 weeks, and the price kept going beyond $500 to new highs, it would be a FIRST in the history of Bitcoin (and would break all long term patterns). And it would also mean that some BIG reason/news was on the horizon, something only the insider traders know about 4-6 months in advance. I kinda doubt we are at that place... at least not yet... ya but i'm saying >32,000$ in <2years if price does not surpass my expectations ( given a little more time than i predicted ) that too would be a first in bitcoin history.  |
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HUGE~!!!!!  BITCOIN WILL BE AVAILABLE ON ETHEREUM BLOCKCHAIN DEVCON NEWS: http://btcrelay.orgBTC Relay allows Ethereum developers to interact with the Bitcoin blockchain and verify Bitcoin transactions. Relayers who submit blocks to support the Relay can earn Ether.BTC Relay is an Ethereum contract that stores Bitcoin blockheaders. BTC Relay uses these blockheaders to build a mini-version of the Bitcoin blockchain: a method used by Bitcoin SPV light wallets. BTC Relay is open-source, trustless, autonomous and decentralized: it is on the blockchain for all to use and not controlled by anyone. this is bearish for ETH, now BTC will be favored as the value store / transport within the smart contracts, and ETH will be what it was designed to be, "anti spam fuel", the Ethereum project looks like it has a bright future, ETH/BTC not so much. |
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Still waiting for
Sub 350 When the market is being controlled by literally one deep pocket whale or a small consortium, it's gonna be a while. They will take their time, keep short squeezing and selling into strength until all interest in the market is exhausted. Then they will dump. Could be weeks before it all plays out. Check back at the end of the year. oh come on 1 deep pocket... what do you think this is, the stock market with the FED as manipulator? It's obvious by the total lack of volume (like that we saw prior to Nov 5th) and price volatility, as well as for the market to be held perfectly in a tight trading range. There's only a few deep pocket players in this market right now, the rest are guppies waiting for price swings... How much you wanna bet that we'll be at least $50 less within 4 weeks? i'd like to see what happens when price drops 25$, and then make the bet  |
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Still waiting for
Sub 350 When the market is being controlled by literally one deep pocket whale or a small consortium, it's gonna be a while. They will take their time, keep short squeezing and selling into strength until all interest in the market is exhausted. Then they will dump. Could be weeks before it all plays out. Check back at the end of the year. oh come on 1 deep pocket... what do you think this is, the stock market with the FED as manipulator? |
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Still waiting for
Sub 350 I don't understand why. Didn't you wait for 420 & buy on the way down, AKA 'catch the falling knife'? ya, then it popped back over 440 |
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Still waiting for
Sub 350
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Bears need to consider covering.
ah shit he's right. |
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Guys, is it time to sell yet? Should I wait for the price to drop another $20?
I'm young and new and in need of guidance from seasoned gentleman-traders like you.
i'm always wondering who is selling me coins at bottoms, now i know its LoriIpsum. |
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I may have manipulated the markets
Just a little bit.
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NEVER!!!!!!!!!!! FTFY |
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slow bleed about to turn to panic
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Wait for it guys the drop among us, but I don't think the low will last all that long..we will see.
another one? |
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Guys, is it ok that the price just keeps going down like that?
a newbie that isn't NLC? wow. I wouldn't put money on that  he seem legit. |
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Guys, is it ok that the price just keeps going down like that?
a newbie that isn't NLC? wow. |
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what happend to adam? was he kidnapped or something?
My thoughts also... what if some bears got him (if so, please let him go) and he is posting under duress...  i've been full BTC for a long time, finally we get a spike i feel comfortable selling. i sold starting at ~390, i'm still long term bullish but HODLING gets boring. the plunge is coming, and i'm ready to buy it! Maybe, but it won't go below that second line Adam.
the chart look especially bearish because it's set to log, agreed 330ish will probably prove to be a solid bottom. |
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New 5 day low I have no problem with the concept that there is going to be a one more attempt at $350 and even an attempt to go below $350; however, I have some difficulties envisioning the price going below that point - without potentially causing the price to become stagnant in the $300s for some time. Surely, anything is possible in Bitcoinlandia, but it seems that bitcoin prices are on their way up rather than down, and if anyone is holding out for prices below, $355, then there is likely going to be some luck in that, seeming less probable under the current conditions. That is my sense of things; however, Caveat... never say never in bitcoinlandia. 360 is like the initial support once the run up is corrected, initial support never holds...  and it doesn't seem to even be a technically important level, people are buying 360 because it FEELS cheep after seeing 500. 500 was BS, 500 was hit to make 360 look cheap, it's going lower... |
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