This is just a corrective B wave (bear market rally). IMO, unlikely to result in ATHs and a true bubble like last year.
Shorting then?  |
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(each 1st in month new chart with lines)
Can't wait to see it. Today is the day! Yes. Seems like we are moving back from the verge rather quickly. |
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God, I miss this feeling.
Panic buying! |
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By the way Chinese exchanges (Huboi and OKCoin at least) are now significantly higher than Stamp.
Not at all bitstamp is almost on same rate as huobi +- few cents. It's not a few cents, currently it is 654 and 644. It's not big (anymore), but it is significant, particularly when you consider that this is a reversal to the prior situation. There is that big scary wall at 650 on bitstamp though  |
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Bitcoin's collapse will probably just be one big candle straight to 0 - not something gradual that we predict and chart out with TA. Maybe the same with the economy.
I am sure you are an excellent technical trader Aaaaaaaaaaahahaaaaaaahhhaaa! If only i could be bothered to dig up her completely ridiculous predictions from the last few months. She is completely clueless. All her trading is based on some weird obsessive compulsive disorder how Bitcoin will crash. She lives in a fantasy world full of doom and gloom. We all can see how that worked out for her. I think TERA's doing just fine. Just as long as the psychics are wrong!  |
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Hoarding and use are two different things and they don't translate in adoption. And the number of transactions isn't going up at all.
It's on the same level as one year ago.
The transactions chart that you linked doesn't tell the whole story. Take Coinbase, for example, any transaction between Coinbase users (a merchant and his client with both Coinbase accounts) will not show on the Bitcoin Blockchain - they are off-blockchain transactions. Not sure if Bitpay doesn't do the same thing - to be verified. Precisely. Massively rising web wallet numbers is unsurprisingly massively bullish on price as it generates lots of buying pressure on the exchanges and continues coin distribution. Igorr, I sure hope you closed your short. Might be time to kill this thread matey. |
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Bitcoin's collapse will probably just be one big candle straight to 0 - not something gradual that we predict and chart out with TA. Maybe the same with the economy.
Why will bitcoin probably collapse to zero? I am sure you are an excellent technical trader but price prediction and being positive in life are not your strong points! a complete protocol failure Sounds like an edge case. US regulatory volte-face is all i am worried about. |
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Bitcoin's collapse will probably just be one big candle straight to 0 - not something gradual that we predict and chart out with TA. Maybe the same with the economy.
Why will bitcoin probably collapse to zero? I am sure you are an excellent technical trader but price prediction and being positive in life are not your strong points! |
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I don't understand those who say it wouldn't affect the price much, if at all. I think it would be one of the biggest triggers for a price spike that BTC has seen to date & as someone else said, it would almost certainly prompt others such as eBay to follow suit.
Absolutely. Bitcoin is functioning wonderfully as a (volatile) store of value in exactly the way you would expect from a scarce commodity money. What happens next is the increasing utility of bitcoin as a spendable currency with progressive integration into the internet as a form of payment. Amazon or paypal integrating bitcoin would be a massive confirmation move for the fledgeling currency, leading other firms to do likewise or get left behind by the savings bitcoin offers over conventional credit card payments. Discounts may be offered for using bitcoin as an incentive to online customer. Its sudden ubiquitous appearance all over the internet as a form of payment will also alter the public perception of bitcoin (largely driven by a negative mainstream media). Companies like circle and coinbase, facebook integrating wallets etc, Winklevoss ETF's will all hopefully be coming online later this year. Just in time for the next (perhaps too) predictable upswing in bitcoin prices. How anyone could think that the largest internet companies in the world taking bitcoin would not be massively bullish for both bitcoin and bitcoin prices is beyond me. It will legitimise bitcoin in the eyes of the masses and bring huge numbers of new potential users to the currency. What happens when people expect a huge number of new people trying to buy into a scarce commodity? The market front runs it. The price will probably go insane. edit: this is when i expect wall street to get involved |
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With all this good news coming out, and price still down 40% from ATH, its hard to imagine why someone would sell very much bitcoin at all, my price target of 800 is no joke, and is actually a low ball estimate given recent development, 800 target is just going to serve as a test of resistance and we will test this level in the coming days or weeks at most. I fear we are experiencing the last wave of retarded bears thinking they can buy back lower if they sell now ( yes bears are actually just overly greedy bulls ) once this wave is done selling we're going to experience some major liquidity problems on the ask side, only way we're going to get more sellers is by going above beyond people's price targets and enticing them to sell by offering higher prices than they deem reasonable. plus a climbing price will encourage holding / saving and increase demand! we have seen this before many times, the only difference now is that more poeple are watching.
its about to get wild people.
picture of rockets and moons will not cut it this time around.
Yes it is hard to believe we are still 40% down on ATH. I have loaded up so if we achieve ATH again this year it will be twice as sweet as last time |
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I'd like to take a moment to remind everyone that the future is not written in stone and we are not all destined to be the super mega wealthy elite for doing nothing.
How do you know? |
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You guys remember last year Bitcoin started growing in March when problems with the banks in Cyprus surfaced. This will repeat at some point in the future. Until then, not much growth in the crypto currencies, mostly the same money rushing from one coin to another, changing hands, some bitcoins exchanged for alts and back to bitcoin, not much new fiat.
devphp what are saying has merit. But i think expecting a transition from fiat to crypto brought about by a financial crash is a long shot. All we need is continued adoption by word of mouth and use of internet. Have you seen the chart of online bitcoin wallets, it is very steep growth! I dont think it is a big stretch to say user adoption will at least go up 5x in the next couple of years, this should launch the price up many multiples higher hopefully. |
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It might not affect the price at all as the price is mostly controlled by an accumulation/distribution cycle of whales.
You know about as much about economics as John Snow. |
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I believe Bitcoin will be bouncing around this $500-600 price range for the next 3 months of summer. 3600 new bitcoins are generated each day, and with the new difficulty, which keeps growing, miners dump a lot of bitcoins to cover costs AND most important - not a lot of new fiat money is entering the market to buy all this supply of bitcoins.
What can make a lot of new fiat money enter this market - that is the question? Adoption by merchants is great and all, but people need to be scared for their money in the banks to want to be their own banks as Bitcoin gives them an opportunity to be. They aren't scared yet. Many will be scared only when it's already too late, as history shows us.
Oh, and summer is a slow season in all markets, people go to the beach, you know.
Probably no more than 50,000 people are holding more than ten coins a piece and you can't see where the money can come from? This has happened before and it will happen again. |
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I bet in everyone's mind in this thread, this glorious 35% rally is some type evidence that all the $1,000,000+ projections are coming to fruition, whereas there might have been some doubt about them earlier. Pretty soon there will be new charts pinpointing exactly when $1,000,000 will be reached, which will be even earlier than previously projected, possibly with even higher targets afterwards, and it's all because of this rally.
you're making it seem like it's a bad thing. It is a bad thing if people use the emotion of short term action to adjust their long term projections. The theory behind all of these long term projections are that they are calculated in such a way that they occur regardless of the current short term action. How does one project the future without including the immediate past as reference? People being ebullient after price rises following a bear market is entirely normal. Just as sorrow levels were high as the price kept falling endlessly. The reason people project seemingly massive bitcoin gains is that they are possible if adoption waves continue. Sure they will likely not happen this year or anytime soon, but they could. |
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My thought since the Willy analysis came out is how could any TA be appropriate or applicable after a huge, price-influencing chunk of trading was found to essentially be fraudulent? TA is based on human trading tendencies and risk appetites, so when $100M+ gets pumped into the market without risk, doesnt that sort of break the foundation that TA is supposed to rely on?
7% of one exchange which at the time only accounted for 15% of market share. Meh. |
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I guess "willy bot' became the new blue/red chart spammy material we'll see quoted everyday by those who didn't ignore Igorrrrr yet. At least with the chart we knew it would become plainly wrong/ridiculous eventually, willy might last longer.
wait 1.jul to new chart with trend line , blue red zone. (each 1st in month I publish a new chart with trend lines) Why should we wait. You were wrong igorr. You continue to be wrong and despite your frankly pathetic attempts to rake up FUD you will likely be wrong in the future. |
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Ok now we are in agreement. Seriously though, eat your words or something, or you too cheap for that as well? I told you that you should better hold at 1100 (and you should have, you'd probably had more coin now), I told you when was a good time to buy (anything below 600), I told you that it will never go below 300, I told you that it will break out above 500 in a week (and it did 2 weeks later), and you still consider *me* delusional? You are funny, but learning to admit your mistakes will go a long way towards self-acceptance. Anyone who told anyone to hold at $1100 with Bitcoin now half of that amount, really needs to just shut their phucking mouth to be quite frank. If I took your advice and held at $1100, I would have 25 BTC (and not very much Fiat). Or would I? At what price point would I have cracked in a manic rage and cashed out? Would I have taken a 50% hit? a 60% hit? a 70% hit on my capital? And say for arguments sake that I was still holding like a good little hodler, when would I be willing to cash my BTC in? At $700, at $800, at $900? What if I resolved to cash out at $1000 but Bitcoin never gets that high by the time this rally period is through, and what happens if Bitcoin does indeed go lower than $300 before we ever see $1000 again? Can you guarantee that this won't happen? Of course not because as you have proven in the past, you are completely ignorant to any information that tells you anything other than Bitcoin is going North. The charts that I am looking at would suggest that Bitcoin eventually getting up to Around $700 or even more, would paint a textbook Wave B, setting us up for a brutal impulse downwards Wave C. I am not saying that this will happen, I am saying that the potential is there for this to happen and nobody can say it won't until it doesn't. Of course you don't see it and despite Bitcoin's venomously volatile history, you can't see it... cos u is a damn fool!This is not the trading forum Mat. Your posts are always so full of emotion I wonder whether you are cut out for trading over the long term. I held at 1100 as did lots of other (bag!)holders. It turns out the only way to benefit from high bitcoin prices is actually to own them in the first place. If bitcoin can manage another couple of years of stellar growth then I am sure you will be fine either way. But there is only so many times you can get in and out of the market without getting burned. |
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crossquote from the wall thread: http://willyreport.wordpress.com/So basically, each time, (1) an account was created, (2) the account spent some very exact amount of USD to market-buy coins ($2,500,000 was most common), (3) a new account was created very shortly after. Repeat. In total, a staggering ~$112 million was spent to buy close to 270,000 BTC – the bulk of which was bought in November. So if you were wondering how Bitcoin suddenly appreciated in value by a factor of 10 within the span of one month, well, this is why. Not Chinese investors, not the Silkroad bust – these events may have contributed, but they certainly were not the main reason. But more on that later.
lol Not sure you will get the FUD you expect this weekend matey. |
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almost 3 k btc dumped and price is still north of 560  c c m f Wait till the whale buys back in.. I wonder how many of the bears (igorr, matthecat, windy) have bought back in.. |
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