Market moved up, Hopefully the wall will too.
But then it would risk being sold into. |
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It's also easy to believe that a few thousand people dled the client because they thought they could somehow just generate money with their computers. The bitcoin subreddit gets a bunch of posts by people who've just heard about bitcoins and now they want to mine some with their laptops.
Agreed. This is what initially came to mind for me as well. People just thinking easy money: run my computer. This post just popped up on reddt. http://www.reddit.com/r/Bitcoin/comments/1dqs42/is_it_worth_it_to_bitcoin_mine/That's exactly what I'm talking about. |
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There is not so hard make a bot downloading any software. Exactly. There's no captcha at Sourceforge. There's two kinds of market manipulation: financial, and psychological. 23k downloads one day - 1.5k the previous day? Off of one TV show? I know there's a lot of people in China, and I know they get seroiusly into their money... but still... Ockham's Razor. It's much easier to believe somebody is trying to manipulate market sentiment with a download bot. Really it is. It's also easy to believe that a few thousand people dled the client because they thought they could somehow just generate money with their computers. The bitcoin subreddit gets a bunch of posts by people who've just heard about bitcoins and now they want to mine some with their laptops. |
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My best guess is no, this is not the same.
Many possible reasons, but the one that holds most water to me is simply that with the 2011 crash,every low was followed by a lower low till it hit rock bottom. With 2013, the latest low of 79 is higher than the first low of 50. This to me signals a slow recovery
That's not true. The first crash went to nearly $10. The second went only down to around $13, the third down to around $13.5, and the fourth down to around $12. |
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45 days, 9 hours. my god...  |
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No. This topic is ridiculous. These topics are getting so fucking ridiculous.
They'll only get worse as we slide downwards. |
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Lol poor bidwaller
He puts his wall at 100, no one touches it, he goes for 110 and the price moves away by 7 points so again no one touches it.
I think the guy will just eat his own wall through 5k market buys.
If he wanted to buy he wouldn't have put up a 14k bid wall. He's selling, or it's a last ditch effort to keep the price from falling. |
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Given the China news, it looks more like it might managed to hold above $100 this week or even go back up to $40, it's a topsy-turvey time!
It could be the black swan needed to break us from the downward trend. For now, at least... |
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Or do someone really believe that bitcoin is dying?
Not yet. They will soon, though. Just wait, once we break $50, the mood is going to turn dark around here. It'll be an amazing buying opportunity, but most will be too scared to buy any at that time. |
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are we in a upward trend or not?
What kind of time-frames are you asking about? |
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There's still a lot of hope around here. I think we could go up to mid $120s before reality sets in. Then, expect huge downward pressure.
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Gox down kinda sorta. half ass
It's been down for me, too. |
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50k btc have been purchased in the last few hours since we passed $100. 12k in bids down to $100. Musical chairs, anyone?
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See what is funny to me is that with no new money coming in for the last 4 days the people who are buying driving the price up now are likely the same ones who sold and drove it down earlier.
The house always wins, so true.
And in a few hours these fools will be panic selling again. An 80% price drop over the course of a few days can have a funny effect on people. |
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I actually agree with this..
There's a reason we have huge buy walls, and that's because people want to buy at that price.
The fact that people are selling into the buy walls is great news for the upward movement of the price.
It means you get BTC being transferred from people who think the price is high and want to get rid of it, to people think it's cheap, and are likely to hold.
I bought some at 98.75, am I crazy. Yes, I admit I got caught in the panic, but the fact people were driving the price up to me signals that these 2 digit prices we're experiencing are awesome!
There's no way of knowing whether they're likely to hold or not. I had bids in the the $80s, and I've sold most of them over the course of the day. |
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I don't quite understand you. Are you saying that bears are just bulls in disguise?
lets say i sold all at 200 i want to buy at 40 the question is what if it never gets to 40 ? what's my influence on the market ? i already sold i cant push the market down even more the only thing is buy sentiment = bearish action=only buy=bullish A few whales could definitely collude to manipulate the price downwards. You could, say, buy 50-100k btc at $10, wait for sentiment to turn bearish (like now) and slowly manipulate the price down with dumps/imposing ask walls, all the way down, until your bids are finally taken. As for me, I'm doing my part by shorting on bitfinex.  |
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I don't quite understand you. Are you saying that bears are just bulls in disguise? I'm a short/mid-term bear, long-term bull. I think we'll see prices between $32 and $50 in the coming weeks/months. It's not that I want it to happen, but I got burned by being a perma-bull in 2011, and I'm just trying to be realistic. As the long, slow slide continues, we probably will start to see a lot of people saying bitcoin is doomed. The selling pressure after $50 is breached will be immense.
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it will be nothing like 2011
I think people will psychologically react the same way they did then, and as they have with all historical bubbles. But hey, who knows, maybe this time it really is different! |
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I'm surprised by the resistance. No complaints here. Long, slow slide advocates, what are your thoughts?
If it's anything like 2011, we'll see some buying in anticipation of all the money that we hope is going to show up at mtgox on Tuesday. Then, when nothing happens, more dumps. |
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