Just had an appointment with my GP Doctor this morning, and bought up the conversation of BTC. He told me he was booking a place on a seminar next month, and he had been told the cost was either £700 or £550 if paid in BTC, so it had made him do some reading up on it...he was more enthused by btc than i am..and this is a 50 year old doctor.
As a member of the esteemed profession myself it is nice to hear that word is finally getting out! |
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Someone clearly wants to keep bitcoin price suppressed for whatever reason. But it's all right, we should be happy that we have more opportunity to buy at such incredible low prices while we still can. It feels like it's dragging on forever, but it won't.
Yes, I have significant funds coming in 7 days. Hopefully we stay in this range or dip lower by then. The longer we sit here consolidating the better i think. |
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- Absolutely the most fundamentally positive position bitcoin has ever been in - Check
Yeah...I hate this word but these random dumps on the trendline look like manipulation  They do, in fact its starting to look like the gold market (interesting article fwiw: http://www.futuresmag.com/2014/07/16/huge-sell-orders-have-gold-bugged?t=commodities&ref=rss ). I'm not ruling out the possibility that this could simply be the market maturing though, its too early to tell but the hash rate may be levelling off and the volume of coins arriving on the exchanges could well be from commercial transaction via bitpay, coinbase, etc. Both those sources would have a minimum selling price which would explain the dumps on every rise and there's clearly buying volume every time it drops. The conspiracy theorist in me (who found manipulation at technical areas in the gold market following its peak at 1900 and subsequent announcement of QE to infinity pretty obvious) is waiting for a large seller who doesn't care about price when dumping to turn up. It has all seen a bit easy from the legacy banking cartels so far. Dirty tricks will be coming. Just hoping we get another bubble before then! |
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I'm pretty sure it's going to have a positive effect on the bitcoin ecosystem.
think so too but dont expect that the price will be like a skyrocket because of one etf. maybe we see the 1500 - 2000 USD after some moths. that would be nice. but silberts etf is also on the way and more will follow...what should cause a price rise  Think many people are expecting 4k-5k after etf is out. There is no chance that one ETF is going to push the price to 4-5k... Every post like that means it is more likely! |
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Ha.
I guess the VC's are wrong and we won't be seeing you round here anymore?
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This little dump doesn't effect my current anlysis. We are still right on track:
(...)
short term, we see a downwards trending triangle. If we break to the UPSIDE, this will be very bullish and push us above the 654 USD fibonacci retracement:
(...) This is basically all i read here every day for the last 2 weeks. People dumping and not to worry because we will go up. It's starting to look silly. I truly hate to sound like Tera but i have to be realistic. For weeks all we see are people dumping. There is nothing bullish about this. Really nothing. The ask side is getting bigger by the day. I don't care about trend lines and past bubble behaviour. All i see is the current situation and nothing points to Bitcoin going up. Let alone another bubble. i'll revisit my position if we go break this triangle to the downside and sell a lot if we go below the next fibonacci retracement at 534 USD. But for now, I think it's just stupid to dump. Good news ahead (ETF, a lot of new companies in the bitcoin space and maybe ebay/paypal accepting bitcoin. I wouldn't be surpised if it happens in Q3!) Why the hell would you sell if we get below 534 USD considering all the good things you quote? it is called risk management, not everyone on this thread got in when Bitcoin was few dollars, some has paid $600-1100, others has lost most of their savings with gox, others still hold to a couple of Bitcoins, now try to convince these people about calming down if we go to $400 or less.
I just want to point out something, people who have access to critical information are selling and investing in other businesses, a person would think why the fuck would they sell and invest in a business that could return only %10 and not leave it in Bitcoin if the "bubble is close", they could make 10 times more, but the answer is simple, there will be no bubble, at least not any time soon, and they are doing their risk management moves... Source? |
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The reason for the current downtrend are big mining companies constantly cashing out which is quite profitable atm.
This doesn't amount to very much. Annual new coins are only about 10% of stock so downwards price pressure from mining sales can't account for more than about 1% per month falls. I think this is just normal market volatility. Up a bit. Down a bit. Up a bit. Down a bit. Who the hell knows why Just wait till we get an unexpected move back up towards 700. This thread is bipolar, either to the moon!!! or crash crash crash!!! Markets take time to move. Everyone expecting a bubble now was bound to lead to disappointment. The market will probably shake the daytraders around for a few months before we can go upwards again  Good luck to the traders using leverage! |
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High interest rate on bitfinex and high premium on icbit are sign of bullish. People borrowing are expecting the rally will be higher than the interest rate.
Sure, and they might be right. Or they might be very wrong. My memory is a bit fuzzy, but I remember a massive short squeeze last November when Bitfinex traders were very wrong about the market. Can't happen in the other direction?  Thats my market moto: Go against the crowd. Oh noes! That means be a bear!  But on this forum, people are always predominantly bullish. If you go to Tradingview right now, most people seem bearish. Take your pick.  Interesting that the TradingView analysts were bullish when it seemed that bitcoin was on the verge of breaking up, and they could draw you all kinds of wonderful TA graphs with lines showing you that it would likely do that. But when the bitcoin market doesn't do what they expect, they get confused, then get bearish, and then suddenly can draw you all kinds of wonderful TA graphs with lines showing you that it will likely break down.  I think we are consolidating here and it is healthy. A slow move upwards. |
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I wonder if oda.krell will post a bearish scenario. So far he was called a 'short-sighted perma-bear' for being rationally bullish. If he posts a bearish analysis he may be called a 'bear troll'! Seriously, there are reasons to look at the bearish scenario: - the uptrend above 600$ (since 26th May) was pumped with $ swaps on BFX and the loans have since ballooned to almost 30M$. - the uptrend was helped by a (temporary?) removal of BTC from the market, possibly used to pump certain altcoins. - the Chinese bagholders are getting impatient, and just the lack of new FUD prevents some serious dumping. Tzupy = perma bear |
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Denial of what? The price is 620. We are a sneeze from 700 then each and every one of you bears will buy back in.
Dismissing every bad news as FUD. Train is losing steam, price is slowly drifting downwards. What will happen to the $29.6 million in longs at finex if bear trend resumes? I must be missing the actual bad news? A few speculators (and momo minnows like you) sold after a puff piece headline. The price fell. And? Minor price fluctuations are irrelevant. |
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Bulls in Denial  Denial of what? The price is 620. We are a sneeze from 700 then each and every one of you bears will buy back in. |
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That was great timing. I had just convinced myself to go margin long at 629, then the ISIS news hit and the price dropped to 616 before I could pull the trigger.
This skittishness is cringe worthy. There is a hint of FUD, so everyone sells. There is no thought of whether the story is even important (see the auction for a great example). BTC traders need to put on their big boy pants and stop being pansies. Or stop trying to make a living from $5 profits.
if you are confident take advantage of the low price, or chase the rally I know the time will come, just need to be patient. gains rarely happen overnight Yes the twitchiness of this community is incredible. Time for me to buy another twenty coins then not check the price for a month. |
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Very helpful. The degenerate gambler in me will park a few k there for fun and see what happens. |
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Just a simple thread with a few questions for btfinex users.
What do users have to say about the USD swap facility? Other than btfinex going bust or running with the cash what are the risks to capital in extreme market movements? Bitfinex says traders losses don't cause swap lending losses but is this really the case?
Having a look at swap rates they are currently about 0.16% per day which is very tempting. I have read of rates up to 0.44% per day.
A high risk strategy might be to move a % of ones btc holdings there, exchange for dollars and swap on short term swap loans. With the idea of buying back when btc reaches a certain threshold.
Another option is to wait for the next peak (should it come) and sell out an agreed % at an agreed target price (1900, 2500, 2900) and leave it compounding lent out as swap through the next few months.
It's common knowledge that trading is unprofitable for most participants, whilst carrying risk of holding btc on an exchange. This seems similar in terms of institutional risk but a more straightforward way to generate consistent profit.
Comments?
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<snip>
The market has dropped by 15 dollars now. I don't think it gives much of a shit. |
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i very little about charts. if you look at the 1w chart @bitstamp:
-MA about to cross
-MACD actually finally crossed
who zhe fugg would dump 1300 coins in such a moment ?
Bitcoin about to break out. Central bank releases 'advice'. Banking shill account on bitstamp dumps coins. Price falls. but... but i am sure the EBA also has guidelines on committing no crime. but virtually all major european banks have been cought stealing, lying, defrauding, cheating in about every imaginable way. This is the first noise we have heard from a western central bank for some time. Suspicious timing. But turkeys don't vote for xmas. I think the effect will be very shortlived. Good news isn't just a headline. It represents underlying events which are beneficial to the bitcoin ecosystem. And there has been lots recently. I just hope perhaps wrongly that we are still early enough that the central banks aren't going to be screwing around with the bitcoin market a la gold market interventions. |
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Looks like the market is still bearish for some reason. Every good news does nothing to the price, while "bad" news (or would I say "FUD" news) make it drop like a rock.
Well some trader reacted and dumped. The price is only 20$ lower than earlier. Lets see what happens. I wouldn't call this a bearish market. |
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i very little about charts. if you look at the 1w chart @bitstamp:
-MA about to cross
-MACD actually finally crossed
who zhe fugg would dump 1300 coins in such a moment ?
Bitcoin about to break out. Central bank releases 'advice'. Banking shill account on bitstamp dumps coins. Price falls. |
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Perhaps they have seen some moves from EU private banks towards bitcoin and they want to stop it..
The timing is suspect as always, just when technically btc could break out.
Remember the central banks are a global cabal.
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The implication being new rules allowing banks to hold bitcoin are on there way. Note it is 'advice'. Sounds bullish to me. |
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