OMG, it's Saturday and nobody's panicked yet- time to throw around some FUD!
Yeah, Gox sucks, but we've known that for a while and it's priced in. What's gonna happen if this correction doesn't come? All you bastards sitting in fiat are gonna scramble for the same coins. First one to break loses the least. Who's it gonna be?
If all the MACDs go up then I buy - simple. There's a very limited potential impact. Certainly not a "loss", since I've sold at $1000 and rebought at $450-$650 and then sold again at $1000 multiple times now. What do you mean by *all* macd's? Not all MACDs sorry. Let me restate this: At this point if 1D and 4H went up on Huobi I would probably give up and by back without waiting for a drop. Now if there IS a drop then I won't use 1D but instead I will use 4H or even 1H depending on the severity of the drop. lol Those other moving averages don't mean nothin, right? When I'm trading altcoins or daytrading bitcoin crashes like Dec 17 then the 15min and 5min are important. But when bitcoin has barely moved for 2 weeks, then they aren't. Less volatility = longer timeframes. |
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OMG, it's Saturday and nobody's panicked yet- time to throw around some FUD!
Yeah, Gox sucks, but we've known that for a while and it's priced in. What's gonna happen if this correction doesn't come? All you bastards sitting in fiat are gonna scramble for the same coins. First one to break loses the least. Who's it gonna be?
If all the MACDs go up then I buy - simple. There's a very limited potential impact. Certainly not a "loss", since I've sold at $1000 and rebought at $450-$650 and then sold again at $1000 multiple times now. What do you mean by *all* macd's? Not all MACDs sorry. Let me restate this: At this point if 1D and 4H went up on Huobi I would probably give up and by back without waiting for a drop. Now if there IS a drop then I won't use 1D but instead I will use 4H or even 1H depending on the severity of the drop. |
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OMG, it's Saturday and nobody's panicked yet- time to throw around some FUD!
Yeah, Gox sucks, but we've known that for a while and it's priced in. What's gonna happen if this correction doesn't come? All you bastards sitting in fiat are gonna scramble for the same coins. First one to break loses the least. Who's it gonna be?
If all the MACDs go up then I buy - simple. There's a very limited potential impact. Certainly not a "loss", since I've sold at $1000 and rebought at $450-$650 and then sold again at $1000 multiple times now. |
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I agree we are on a downtrend but it is a slow one like May 2013 and there are going to be traders at every step of the way trying to play the local bottoms in order to make profit. There are also investors who might actually think these are good prices (this is bitcoin after all and people are very bullish, especially after hearing news like Tiger Direct $250K). But mostly it is traders and bots with these orders with the sole purpose of taking a profit in the next 5 minutes - 5 days. Once again bitcoin is now a 10 billion dollar market that saw a 4000% gain in 2013. You are over-guaging these amounts of money. There are now a lot of wealthy people willing to gamble large amounts of money at the slightest sign of a profit and there is a lot of liquidity to support them. During the crashes in December, I myself leveraged as much as 400btc at the bottoms. I actually thought it was going lower eventually but I saw a short term opportunity to make a huge profit. And I am a "bear"... now imagine the bulls.
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Considering the scope of the attention and the lightning fast adoption of late I'd be willing to bet that there are some extremely deep pockets involved today that weren't involved a month ago.
Considering how small Bitcoin is right now and the speculation that it will continue to achieve more adoption as time goes on; The pockets could easily be deep enough to buy out the remainder of China and the SR coins without even breaking a sweat...
If wanted to acquire BTC I would want the market to take a death plunge. Indeed, I do want to acquire lots of Bitcoins which is exactly why I want the market to take a death plunge, I however don't have the power to make this happen and have to satisfy myself with remaining astute as possible to good opportunities that present themselves. Far from bringing down the price, these gargantuan flash purchases were strategically placed and triggered to put the halts on big nasty post bounce slip that was gaining momentum rapidly. It looked so certain and then BANG, $250K order within a second, a few minutes later, a $175K order followed by a $140K order, both of them executed within a second. If you study the charts closely, you will see that these large BTC purchases saved Bitcoins bacon. If these were genuine investments from someone with deep pockets, then this person is a fucking horrendous trader as if he had just sat back and let the panic do its work, he could have gotten these Bitcoins $100 per unit cheaper. Your flaw is assuming there is only one player or only a few players. $140K and $250K orders are not that much on a leveraged trading platform now that all the bitcoiners have become rich in 2013. What you see is dozens of different players all playing a game and anticipating eachother's movements. They all see a likely location where a local bottom will occur and some of them decide that it would be wisest to buy the ask walls now. If they don't do it then the other players will buy them first and they will end up eating slippage at a higher price. I don't think any one player even thinks they have the capability to affect the outcome of the market, unless their name is Loaded or something. |
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This title is misleading. There was a one line sentence in an email which a bitcoin turbobull twisted into his interpretation as alluding to possibly implying adoption. But when a rational person looks at it, it could mean anything.
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We didnt have a proper rallydowntrend for a long time, all this dumpingrallying is getting boring.
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It's the pullback before the tsunami  Well, considering that traffic on my bitcoin node has quadrupled in the last 24h, there might not even be a pullback!!!!  CCMF!!!7% drop: This is it. It's happening. Back to 500. Maybe lower. Don't forget to mention China. 3% recovery: Trains, Moons, and CCMF are back out. New ATH is in sight. Recent adoption news is highlighted again. Such a bipolar market. Much emotion. Wow. This is too much for the heart. |
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omg i am so sick and tired of this adoption thing popping up every time a good drop gets started.
It's like somebody is playing the markets like a fiddle.
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When confused about action on Bitstamp, the explanation is likely Bitfinex.
LOL. No. (unless someone operating through Bitfinex conspired to spend the best part of $750K just to support the Bitcoin price) Bitstamp is pretty dead without bitfinex and bitfinex brings all the life into bitstamp. Bitfinex doesn't appear on the bitstamp order book yet executes there. Also, it has: 4:1 margin trading Shorting Fill or kill orders Stop loss / trigger orders Trailing stop loss orders Dark orders The dual order book systems and all these crazy orders make it seem like somthing fishy going on at bitstamp but it's really Bitfinex. I trade on Bitfinex and watch these 500-1000btc buy orders randomly pop up on the bidside all the time and then halfway execute on the bitfinex internal order book while halfway executing on the bitstamp order book. |
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When confused about action on Bitstamp, the explanation is likely Bitfinex.
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It's too early to call this a "recovery". It could be the first dead cat bounce in a multi-week downtrend.
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I think these are coincidence and the stock market has nothing to do with bitcoin at all. They are completely different players, different systems, and different dynamics.
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The numbers and the supply/demand speaks for itself. Why don't you go and ask the Argentenians why they aren't buying massive amounts of btc - not us - we don't know.
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Oh no!  People accepting Bitcoin as payment! What can we do?? Surely this should be interpreted as "$250K worth of bitcoin bears decided to divest their position and withdraw from the market completely via a merchant rather than having to deal with an exchange, a wire transfer, and a bank account". |
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 Overlay of mtgox and bitstamp order book depth/ratio. |
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