This thread's sentiment is turning bearish now? I will take that as a bullish sign.
I'm actually semi bullish now watching the support on btcchina, gox, and bitstamp. |
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It goes down because there are more sellers than buyers.
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24%BTC
5% LTC
1 % Assorted shitcoins I forgot to sell.
70% fiat
"never go full fiat"
I picked up a few more btc today because the last down movement was weak and there seem to be sneaky buyers everywhere and very nice bid depth.
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How are we supposed to crash with all these buyers, damnit.
Those buyers won't be available to provide support at lower price levels. Let the suckers buy high now, that's good for the bears. There will be a lot more buyers in lower levels. Your argument doesn't have any logic whatsoever... Nobody thinks that bitcoin is dying. Everybody wants just to buy cheap coins to get as good seat from the train as possible. This all will change to panic buying after Loaded or some other big whale uses his USD plasma cannons. No worries rpeila will easily take him out with his energy shields and then real action with light sabers begins. Bears have not used their true power since 2011.  |
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What's with all the theories that every drop is caused by some manipulation group? What if people just need to sell coins? I imagine there are a lot of chinese that want to get out now, for one, plus the rally just ended and everyone was at a huge profit.
Maybe you're right - but China is still over 5K and has been while this Gox action has been happening - so I am not sure it's them. China started the dumping and gox has had a very delayed reaction. It's almost as if gox doesn't approve of the movement and wants to deny it. They tried for the longest time to maintain a support at 840 while not reacting at all to China dumps. |
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What's with all the theories that every drop is caused by some manipulation group? What if people just need to sell coins? You can clearly see distribution occuring since the asks have balooned about 4 four fold in the past week. I imagine there are a lot of chinese that want to get out now, for one, plus the rally just ended and everyone was at a huge profit.
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How are we supposed to crash with all these buyers, damnit.
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Something isn't quite right about this downtrend. I'm starting to get some small choo choo feelings.
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I'll give the bulls a break and post something bullish:  |
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The game changes significantly once the bubble is popped. Nobody is really selling any significant amounts during the bubble. The selling is mostly bots and traders, who buy back. Then once the bubble is popped, everything changes. What would once enough bids to push the price up and no longer enough. You need about 5x more bids to put brakes on the capitulation. Instead of seeing a a 6K bid area you need to see a 30K bid area, etc. Welcome to whale trading.
You still think this is like April, don't you? It doesn't need to be like April 2013, it can be like anytime that there wasn't a bubble going on. Well there wasn't any real capitulation in April. We tested $66, about 4x higher than where we started the rally. So, we are probably in a similar situation now, with everyone wondering where the bottom is and we won't go down to that magic # everyone is waiting for $600 before the buying starts again. By the way $600 is about 4x higher than where we started at $125ish. But unless we fly to $2k-3k, then we arent going to fall 80%+ from ATHs. But you know this already. If you look at the chart and timeframe, this is actually more comparible to the drop to $80 that happened 2 weeks after the drop to $50. So people are probably expecting something like $700. |
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The game changes significantly once the bubble is popped. Nobody is really selling any significant amounts during the bubble. The selling is mostly bots and traders, who buy back. Then once the bubble is popped, everything changes. What would once enough bids to push the price up and no longer enough. You need about 5x more bids to put brakes on the capitulation. Instead of seeing a a 6K bid area you need to see a 30K bid area, etc. Welcome to whale trading.
You still think this is like April, don't you? It doesn't need to be like April 2013, it can be like anytime that there wasn't a bubble going on. |
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The game changes significantly once the bubble is popped. Nobody is really selling any significant amounts during the bubble. The selling is mostly bots and traders, who buy back. Then once the bubble is popped, everything changes. What would once enough bids to push the price up and no longer enough. You need about 5x more bids to put brakes on the capitulation. Instead of seeing a a 6K bid area you need to see a 30K bid area, etc. And there needs to be volume, and buys, gigantic whaletastic buys of 10K+ at a time. Welcome to whale trading.
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This just isn't the same without all the gox volume, clarkmoody, and all the red flashy flickering numbers.
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Its just a slow grinding capitulation. Nothing to be scared of.
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Whatever happens, I think we're back to regular trading with the whales.
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Choo choo mofo   Its the world's slowest (or bitcoins slowest) crash with ask an ask mountain growing, pressing against the bid walls, and inching the price down dollar by dollar. Maybe it gets faster if daily averages cross. |
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you can try to make quick coins on this consolidation we have currently but I will simply wait for this to grow up next year. I have patience. http://www.venturescanner.com/scans/bitcoin And btw this is where smart money goes, not buying bitcoins directly and gamble them on the exchange but by creating services which allows other people to buy much much more than you ever possibly could. We'll I'd agree that trying to play these smaller trend movements like tonight sucks and theres not a whole lot of money there at all. However, during the REAL movements like during a flashcrash or during one the wild corrections of a bubble rally, you can easily double or triple your coins in a day. |
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Lol I like the just casual 1400 wall sale in a single trade without much other trading going on.
China was going apeshit at the time so the action was spread over exchanges. Not enough action though. China dropped over 6% and gox and the other exchanges have barely responded (1-2% with very little trading.). The sells on gox didn't even start till btcchina fell below 5200. This is strange considering the other exchanges had pretty much been tailing btcchina's every move all week until now. |
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Lol I like the just casual 1400 wall sale in a single trade without much other trading going on.
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