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Full recovery after stamp came back online. Proof that stamp is driving the rally.
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Got my margin position at $233.
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Nice! Just took my margin position at $233.
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Maybe the 266 resistance was at 235...
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Bitstamp is stamping to the beat of its own bull. Sometimes gox drops $10 and stamp doesn't even react whilst china and btce panic. Everyone there just wants to buy buy buy. It sucks because I use bitfinex and can't get any buying opportunities.
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But sometimes you are 100% confident in an up move. For example 140 after silk road, and 205 now, I was 90% confident in a massive breakout. I went all in both times but chickened out of margin. Now I know that I'm only making X per tick when I could be making 3X per tick, and I'm pissing away 2x for no reason. I feel like Im cheating myself out of getting rich and I'm this lonely bear that didn't even buy in the first place.
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17 million USD on Gox now.
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But in cold storage you cannot take a margin position.
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The reality of the matter is... next month bitcoin could be $1000 or it could be $1. None of you know for sure. As investment disclosures say: past performance is not a guarantee of future performance. You all are like a bunch of gamblers that have hit black 8 times in a row and expect it to happen a 9th, and a 10th.
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The Chinese probably know nothing about bitcoin, other than that it's going up and making them money.
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Eventually there will be some kind of unforseen circumstance or protocol failure, for example EC is cracked. It's not a question of if btc is going to $0, but when, how long we will be able to milk the cow/bull, to how high, if we will be able to replace btc with a new protocol , and if we will somehow be able to transfer the users' funds.
So the thread should be "will $200 be the new support during btc's lifespan"
Also, it depends on which exchange. Take the silk road incident: gox went to 110, bit stamp went to 85, and btce went to 75.
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Yeah much more stronger than when "the debt ceiling didn't pass" dropped it by 14%
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I don't think anyone who is buying bitcoin would even care about anything to do mining as long as their own coins weren't affected and the network still worked.
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What's even more shocking is the level of support above $215 (unless those are fake buy walls of course :p).
Aren't walls always fake? If I've learned anything from my years in bitcoins, it's that all walls everywhere are fake. Walls are simultaneously fake and real, until observed. Then they become one or the other, depending on the testing conditions. This is called Quantum Speculation. It's science, bro. Schrödinger's wall. Now can you explain again how and why we are going to see single digits again? |
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Did anybody not see this coming? This is the first time I have actually traded BTC. I have held for a long time. So I decided to go with 2.5 margin at Bitfinex for about $108k. Bought positions on Saturday night. I rarely see a more obvious time to buy.
I guess losing my ass day trading stocks for a couple of years makes this a walk in the park. But the pent up buy pressure from last week and the lag of funds into Bitstamp was crazy bullish. Don't know what happens from here on out. I suspect we test the highs this month. Maybe this week.
But this last push was about as obvious as they come.
I went all in but chickened out of using margin, partly because bit stamp was having an issue and bitfinex was trading $3 over. Now I really regret it. Is it still safe? Should I wait until the next dip? |
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And everyone complains when an altcoin is premined.
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I think a lot of the exxagerated rises and crashes were caused by mtgox's ridiculous monkey trading engine and problems and we may see a bit more stability going forward. For example a crash from 600 to 400 instead of 800 to 300.
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I love crashes. Crashes are my bread and butter as a trader. Every day there's a crash there is an opportunity to make a 1000% profit.
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