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Nobody wants to miss the ride. Therefore, not enough selling pressure.
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Price behaviour showing some pretty erratic behavior now. It simply is not allowed to decrease.
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Can we stop the personal vendetta? Thank you.
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Market is starting to look erratic, capitulation is coming.
You mean down? |
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It keeps coming up in my list of threads that I have posted in. Can't take it off the list. Of course, that concerns forum software, not this thread.
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I doubt it will ever reach anything close to $1k.
People will realize there are to many horded bitcoins. No reach guy is going to buy into bitcoins when he already is established with USD. Lets face it, you can't live off bitcoins.
When fiat changes for the worst, the fiat rich guy may change his mind. Moreover, you could also ask to get paid in BTC to obtain them. |
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Bye lucif, hi masterluc.
I find it very tempting to take a long position at $105 or wherever my 6-hour indicators tell me of an intermediate bottom. However, if it is not an intermediate bottom but worse I would be toasted.
Choices, choices.
Actually, the hardest part of trading is waiting for the right moment.
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I think bottom was confirmed a bit over a month ago. I find it hard to believe you guys are still waiting.
there was no capitulation Indeed, from a larger time frame perspective bottom could still happen, but price development proves complex right now. |
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It's wearing thin. I'm not too impressed by this rally since July, but traders with a shorter time frame will enjoy the fun. I prefer to wait for more definitive movements.
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The only feasible way at this point for a government to gain somewhat control would be to start buying as much as possible while prices are still relatively low. A 51% attack would be extremely costly and likey a failure. Gaining market share is the only way any entity can position themselves to take advantage of the upcoming economic changes.
The Government could tax it or accept it as alternative payment of tax. Any improvements of the Bitcoin economy or, more precise, lower prices relative to Bitcoin, would also benefit the Government as holder of Bitcoins. Reality however dictates that a Government using and holding Bitcoin is basically screaming that its own debt notes (treasuries) are suspect. Therefore, I do not see a Government acquiring Bitcoin very soon. First, the old system must come under pressure. |
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From a broader perspective, I consider the market just drifting up and down. The question whether up or down has not been resolved yet. I cannot construct good arguments for either direction so I'll just wait what happens the next 2 months. A trading horizon that probably does not fit this thread very well.
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Rally is not really showing its teeth. Making decisions now could turn out very wrong. Sidelines is better now.
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I'll just leave this here:  I love this chart  |
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It's still firmly denial. People are already talking about returning to 3-digits..... If history is our guide, it will take longer to wash away the previous run-up.
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The effect of that single green candle is gone already. Wake me up in about 2 weeks  |
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I must be in denial because I don't buy this "rally" for a minute.
It's time for such a rebound - it may well last until $95-100 - but I also think there is more room for fresh breath at prices lower than $66. Not much has changed fundamentally. |
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"Listen to what they say, they are open about it. They don't really talk about what they will do to make Bitcoin succeed as a system that will benefit their users. They are talking about overcoming a regulatory challenge to shuffle paper and let people speculate on its future".
I think that's already more than most people do. Not all speculation is bad speculation. Without speculation, no liquid markets and increased interest. Don't confuse the Ponzi you know as the 'markets' for real capitalism.
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Matonis has shown vision. He is excellent for the job.
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This will develop rather slow in the beginning. Parting people from their beloved money does not happen overnight. It will go very slowly until BANG... everyone except your mama knows it and uses it. I get the feeling that most people around me already know about Bitcoin, but trust in 'money' only comes slowly.
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