So far this is looking like a back test of the wedge upper line we broke out of.

the knife, it is falling

Its very obvious at this point that BTC is back in a upwards trend.

OTOH, it has shown it has survived a couple of serious connections and has touched 900 and government has indicated it's not going to maul it. Cash will be coming in.

Most people here have never experienced the 2011 bear market. The price went from 32 to 2.

this volume is sooo lowwwwww L . O . L

gotta realize there's 12 million BTC, and only 2000 bitcoins are needed to reduce its value 5%?

W T F

You have been warned

But really, there was such a topic about cheap 2-digit coins some 8 months ago. And the topic about cheap single digit coins a year ago. And they both seemed funny at the moment. Guess where are those now? In the history books.

the wealth isn't there that is what I have been saying all along

A seller that sells and has no intention of buying back (such as myself) removes that money from the system and it is gone.... for good.

the only thing holding the value are the parked buy orders of new incoming money.....  now if people were using their coins like crazy to buy stuff and millions were travelling in circles every day, that would work. But that is not what is happening, there is masses of hoarding and speculation, I would wager 99% of coins are in this hoard and speculate camp.

There are a total of less 200 000 bids across all exchanges down to $100, and 12 million coins floating around - that is what made me very very nervous. What if 5% of people decide to hell with this, it's christmas and I am cashing in! who buys those 600 000 coins? yeah they will be bought..... but where? at $50? at $20?


same thing on way up - there were total of 10 000 coins across all exchanges for sale from $500 to $1000. Thats about $12 million. So one big buy of $12 million puts btc at $1000 - on all exchanges. However that increases market cap of BTC by $6 000 000 000  ......   500 to 1 leverage ratio on the way up. So now you have somehow created $6 billion of wealth with $12 million? Bernanke would be proud.

and that is why I am out.