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Bitcoin is trading well below the 300 day moving average, a bubble has never appeared within 3 months in bitcoin under such circumstances. There's not going to be a bubble in 2014 anymore. Too much technical damage has been done. At best you still might see a recovery to ~500/600.
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they are not ending QE. they are moving their QE buying to Belgium.
they are fukd if they end QE. it aint gonna happen.
they are planning the death of the dollar .
Well, they are ending their public QE program. That's the only thing that matters to forex traders. |
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 well mining at this price is good since usa miners have to pay income tax on bitcoin mined at the price they are mined at. so while everyone is panicking i am continue mining! with the latest mining gear we appear to be good for mining into the beginning of next year. maybe first few months of next year unless some new mining gear hits. this decline in bitcoin, gold, and silver started as the dollar went up . we are at our third peak in five years and each peak has resulted in a crash of the dollar. it is possible we are at the run-up to the final crash of the dollar. i heard a rumor when blood is in the streets then is time to buy! The federal reserve is ending QE while the ECB is starting QE-like programs. As the euro has a 57.6% weight in DXY the dollar is unlikely to crash any time soon. |
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Not buying any until the technicals look bullish with a clear reversal.
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somewhere between $85 and $266.
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Highly unlikely that it will drop below $200.
The trend line that started from the $2 low in 2011 is currently hovering at about the high 100s and soon will be over 200.
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Nowhere near 20% huh? http://en.wikipedia.org/wiki/M-Pesa#Cost.2C_transaction_charges.2C_statisticsThe transaction charges range is from 66% down to 0.16% depending who is involved and the amount of money:
up to 66% for a transfer to an unregistered user
up to 30% for a transfer to a registered user
the lowest transfer rate is 0.16% to a registered user for KSH 70'000 (800 USD, 580 EUR)
the cost for withdrawing money from an M-Pesa agent reach from 20% max to min 0.47%
Look at the lower rates (0.16%) - between registered users. That is what most people pay. Pretty cheap compared to the volatility risk of BTC + exchange commisions. |
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Unless you live in a US/Europe-centric bubble, the average Joe doesn't even have a credit/debit card. The average Joe however does have a cell phone, and many people even have smart phones. Other phone based payment systems in developing economies charge fees near 20%. Bitcoin will blow them out of the water, while also opening up new markets to existing online merchants. It will also reduce the barriers to entry for new online merchants that wish to serve these markets.
Many developing countries have relatively cheap domestic payment systems like Mpesa in East Africa or Alipay in China. I don't see bitcoin forming a threat to those systems. Fees are nowhere near 20% and you don't have to worry about the insane bitcoin volatility. |
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Peter Schiff is a broken record.
While he may be right in the very long term on the fed, if you listen to him for swing trading advice you are going to get killed.
Do the opposite of whatever he tells people.
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its been mentioned before but lets highlight it again
in short
buy 10,000 coins in september 2009 and sell them in september 2010 = $599 profit (well under a cent each 2009 to 6c each 2010)
buy 10,000 coins in september 2010 and sell them in september 2011 = $53,700 profit (6c each 2010 to $5.43 each 2011)
buy 10,000 coins in september 2011 and sell them in september 2012 = $68,100 profit ($5.43 each 2011 to $12.24 each 2012)
buy 10,000 coins in september 2012 and sell them in september 2013 = $1,104,100 profit ($12.24 each 2012 to $12265 each 2013)
buy 10,000 coins in september 2013 and sell them in september 2014 = $2,623,500 profit ($122.65 each 2013 to $385 each 2014)
easily explained, buy 10k coins in 2013=$1,226,500. sell for $3,850,000 = $2,623,500
so based on a 10k coin purchase 2014 is the most profitable year based on FIAT not percent
This argument will stop working from November onwards, lmao. Nov 30 2013 - $1163 Nov 30 2014 - $163  |
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The long plateus signify a trend continuation ?
In general yes, when it turns the trend also usually turns strongly. See May 20th for instance. |
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What is the indicator on the second graph and how it works ?
You can get it on tradingview if you look for ''Trend Intensity Index [LazyBear]'' under indicators. It works best on the daily chart. It warned of this major bear trend all the way in the low 600s. Pretty neat. |
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According to the Trend Intensity Index this one is structurally significantly more bearish:  This indicator was accurate as hell. Prices now sub-400.. |
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The volume of this sell off is still nowhere near that of the previous major lows.
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This bear market is cleaning up the excess greed that was prevalent earlier this year. That is what bear markets are for, to slap some sense back into people.
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BTC going to fiat for Alibaba pump later this week and early next week.
Most Chinese can't buy US listed shares. Moreover, IPOs that big tend to flop (see facebook). It's not a sure thing Alibaba will get pumped. |
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Trading isn't for everyone. Beside, less than 10% of traders make money.
Not really. The Gox panic was a fairly easy shorting opportunity. Any idiot could have predicted prices would drop near the dec low. Also, the PBOC rumors of March-April were easy trading periods. |
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Countries banning bitcoin is a good sign, plus, it won't stop people dealing in bitcoin...
It is a bearish sign as it interferes with legitimate businesses dealing with bitcoin in those countries. Average joe sheeple in those places won't bother with bitcoin because they think it is illegal or shady. |
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And the fact that many developing countries are banning/restricting bitcoin (Bangladesh, China, Bolivia, Russia etc etc..). Many speculators hoped it would take off in the remittances market, but if this trend continues, bitcoin will be practically useless for remittances. |
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