I bet there are some people reading you, hodlers, and thinking "Hold now for me the bitcoins you are going to sell to me at 251 or, perhaps, much lower, after you wake up too late of your bitcoin fairytale" But I'm going to write only that on a market, keeping the same opinion no matter what happens, no matter how many support levels are breached, is a dangerous perspective. Sharks love people with fixed ideas. Usually, they only change them on the wrong moment. And if you, my dear reader, think that by writing this I'm hoping to influence the price down, you must be thinking that I have you in high regard (as a bitcoin big whale) and that I have my words on an even higher regard. I don't. We are what we are and words rarely change our behaviour. I'm just criticizing the perspective. Holding if the 380 and the 339 gets breached is a serious mistake. Will they be breached? I don't know! I just know we are on a bearish trend and there is a serious risk that this will happen. Like you, I do believe in bitcoin on the long term. I just don't believe most hodlers will sustain the pressure if this slow motion ends and we start seeing big moves on the wrong direction. So, they are going to sell too late.
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Start closing your eyes and be prepared to live like that for some time.
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Bagholders/permabulls like to dream that everything is going to go alright, in the long term (they probably are right, but we can't be shore), in the median term and tomorrow. That everything that happens HAS to be good news for bitcoin. They are living their Bitcoin fairy tale. They are our Doctor Pangloss.
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Obviously, everything has to be good news for bitcoin. We are going to go from one good news to another until "to da moon". Everybody knows that repeating something many times makes it true
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Lets get some numbers. So I used coinmarketcap.com information, to show how big the alt coin market is all together. I used the top 105 coins. The alt coin market today is about 9% of bitcoins total market. One of the presentators yesterday at MIT Bitcoin Expo said : "Evolution of internet like evolution of bitcoin : real changes and real evolution is time consuming. " (details on bitprize.org) Good work.
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A breach of the 480 usds at Bitstamp would be a positive indicator (breaching a bearish trend line that starts at 907, touchs 712 and 541), but I have no clue when that will happen. It might go lower before going up.
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Thanks for the answer, but you having access to all the details isn't good: it means all buyers will have to trust that you won't use the card, because you will know the number, expiration date and CVV. It would be much more secure if you sold the cards inside the unopened letter from the bank.
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The only thing notorious about the OP chart is the breached support line at 380 by the dip to 336.
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I wonder if anyone here has any expectation to influence the price on even a buck... maybe on tradingview there are people with more than 1000 folowers that can have some influence, but here? Most comments have no support on any kind of bases.
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The Op has here all sort of opinions, mostly bullish. On the permabulls, let me quote myself: https://bitcointalk.org/index.php?topic=588467.msg6544981#msg6544981"They buy, with sacred faith, screaming like a kamikaze "to da moon", the ones you want to sell, no matter the price. Then, since they are very strong people, with very powerful hands, they hold them, even against all trends. They hold and hold, even losing 80%. They are always the last bulls standing. So, when they finally give up, losing 90% or something, they easily sell their bitcoins to you on the bottom. You see why it has to be the bottom? When even the perma bulls give up, almost everyone is a bear and, therefore, almost all the people that were willing to sell, already sold. Since there are few sellers, the price has to go up... How nice are perma bulls, they help us on the top and at the bottom." I don't know nothing for shore about the future price, but with the present data (mainly, the breach of the 380 support on bitstamp and a major lower low at 339) and fundamental terms (serious problems on China), it's much more risky to keep bitcoins than to sell them. It's much easier to just keep them, hoping for better days, that might come only in the end of the year or next year, than to sell them and, specially, to have the guts to buy them again. Many times, a trader sells with a loss making a good decision, because the price drops, but then just hesitates in fear and ends up buying again too late. Perhaps, higher than the price he sold. Selling isn't easy, specially, losing money, but buying again might be even more hard. Losing puts the fear of the market on the bones of any inexperienced trader. In doubt, you can always sell only a part of them.
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A quick death would make a tsunami on western markets, because of the negativism and because traders would expect a fast influx of sell orders of bitcoins from China on western markets. But a slow death, with lower volumes, lower demand caused by the end or lower influx of CNY and a continuous drop of price, with chinese traders cleaning their portfolio of bitcoins, would be worst. It would be another Gox on our hands.
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The chart of the OP is controversial, as most of them, but the data is genuine. Therefore, another reason to think that insults are unwarranted (from both sides).
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I think I never saw western markets so linked to Huobi. Presently, if you want to trade on any of the three big western markets you have to follow Huobi, because any move on it is mimic by the other markets. It's not only because traders move their bitcoins looking for the best price, it's because after the end of Gox everyone looks for guidance from the biggest exchange: http://www.bitcoinity.org/markets/list?currency=ALL&span=24hIf the price on Huobi goes down because of the chinese government, guess what will happen.
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We are still on a bull market, even after dropping from 1156 to 336 (bitstamp), with BTC-e and Bitfinex hitting 100 (ok, because of closing of longs, but it's on the chart)? I guess that even if we go back to 251 (top on Bitstamp on 10/4/2013; or even 100 usd) people will insist on the long term. In the long term, we'll be all dead, as Keynes said. If there is a median term bear market, I think it's wise to jump out. The Op sold a little late, but if she doesn't give up and buy again after a change on the midean term trend, she can end up in profit.
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Bitcoin, 2011, at 2 usds, after crashing from 32. Besides, we can learn with the experience of others: google Buying Stocks When Nobody Wants Them
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The permabulls: They buy, with sacred faith, screaming like a kamikaze "to da moon", the ones you want to sell, no matter the price. Then, since they are very strong people, with very powerful hands, they hold them, even against all trends. They hold and hold, even losing 80%. They are always the last bulls standing. So, when they finally give up, losing 90% or something, they easily sell their bitcoins to you on the bottom. You see why it has to be the bottom? When even the perma bulls give up, almost everyone is a bear and, therefore, almost all the people that were willing to sell, already sold. Since there are fewer sellers, the price has to go up... How nice are perma bulls, they help us on the top and at the bottom
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Any chart says we are on a bear market. Great to see the perma bulls bashing the girl for her "weak hands". See how much are losing the people that bought litecoin, novacoin and all the other old alt coins at top and are holding. Keep holding, saying to yourself "I won't lose anything until I sell them".
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Lack of KYC might not be the biggest problem about this site, search around.
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At last, it seems people stopped bashing John.
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You can trade at bitstamp without using bitstamp with bitfinex, even if they started asking some questions too for fiat withdrawals.
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