Could be typical crash behavior, meaning another small wave of dump, followed by a sideways movement
I'd say it's just a flash-crash with fast recovery if Stamp passes $660 |
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So ,I missed the Gox news and made no profit out of this. Who made good cash with this dip?
Made a humble 1 BTC profit with my remaining fiat to play with. It's fiat again now. Could have made allot more had I not already bought at several stages of this bear market, and too chicken shit to sell |
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wow, panickers actually think bitcoin is broken  |
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this is ridiculous! The 'bug in bitcoin' Gox is blaming for their problems has been known for a while already, and has not been causing problems for others.
Crashing at least enables Gox to buy back all the coins they had lost ...
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Gox lost everyone's coins on a bad investment somewhere, so now they're crashing the price to buy them back
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I find it hard to believe that the Gox BTC withdrawals stoppage is simply a technical issue. I wouldn't be surprised if they need the price to drop enough to buy back the customer's BTC they had lost. I hope for the sake of all the unfortunates with BTC stuck in Gox, that the price has dropped sufficiently for Karples to buy it back
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loss of trust for exchanges due to getting goxxed might cause a short dip, but the pricing in of the Secondmarket good news should counter that in the medium term. Add to that, that people in the UK now no longer need to bother with exchanges to buy bitcoins ( http://www.coindesk.com/can-now-pay-cash-bitcoin-28000-uk-stores/), plus China seems to be carrying on, I find it hard to see much more bearish sentiment from now on |
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Just woke up cheap coins... But how cheap havent bought yet. Who here thinks it will get lower as the world wakes up. As people hold btc accounts with gox all over the world
Tera mentioned the final elliot wave will be slower down trend then this sharp decline. so there is that or it has seemed to have a lot of buy support in the 600s ..and then again near the 700s but it requires alot more buying volume before I'd say were done with the dumping. I would tend to agree. It looks to me that primary cause of the rebound slowing is that playful 1k wall, and big players aren't ready to buy it up. Maybe 500s is the target |
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Just woke up cheap coins... But how cheap havent bought yet. Who here thinks it will get lower as the world wakes up. As people hold btc accounts with gox all over the world
'the world'!? I think you'll find that most of the world has been up for quite a few hours already |
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First block hit. Let's see what happens.
What does this mean? Miners have not mined a block for over an hour. Means all the coins moving to the exchange to sell have been stuck in queue. Now released. now 4 blocks mines since ( https://blockchain.info/blocks). how many confirmations does Gox require? 4 or 6? Please tell me you are not sending coins to Gox. erm.. good point (no, I left Gox months ago). I'm a bit foggy this morning. Stamp is 4, am I right? If so, I's give us 10 or so minutes to see whether panic selling will take another jump or not, on Stamp/Huobi etc |
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First block hit. Let's see what happens.
What does this mean? Miners have not mined a block for over an hour. Means all the coins moving to the exchange to sell have been stuck in queue. Now released. now 4 blocks mines since ( https://blockchain.info/blocks). how many confirmations does Gox require? 4 or 6? |
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After the Dec/01 crash and the failure to recover in 2 months, many people realized that the success of Bitcoin is not as certain as it seemed before. The China actions showed that governments can stop bitcoin if they decide to do so. Then altcoins blasted a big hole in the arithmetic that "proved" million-dollar prices in a few years.
People are becoming aware that the price is set entirely by the market, and the market does not seem to see those astronomical prices any time soon.
Thrue believers, who would buy BTC at any price, apparently ran out of money. The exchanges apparently became the playground of speculators who only expect the price will rise enough for them to sell at a profit; or fall by a fair amount but then rebound to the current level. Thus they won't sell for less than X + 50 and won't buy for more than X - 50. And so the price stays at X.
The buying of bitcoins for use in commerce does not seem to be enough to affect the price, and should be offset by the sale of coins by miners and merchants.
pretty much most of this ^ and to my mind, this creates the conditions necessary for any successful price stability manipulation |
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anyone else getting this? "IP address blocked for 900 seconds"  Yup, the Bitstamp API seems to be a bit screwed up. I get that on the second request my program makes, 10 seconds after the first. Odd that it's the second request from your program. Mine's on the first. It's the same after a 20 minute break. I can't access bitstamp at all |
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anyone else getting this? "IP address blocked for 900 seconds" |
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I'm genuinely fascinated with fib patterns as indicators of emergent properties in systems. I doubt I'll ever find the time to do a decent objective study for apophenia vs statistically significant predictable patterns. Hats off to those of you who do  |
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Bitstamp
Upside breakout scenario.
We are flirting and have been bouncing around $820 and there seems to be some form of resistance here, it is a little sticky..trading sideways into a channel around $820
If we go continue to go up from here we may go from this $825 (ISH) channel top we have been in trading sideways and go up to $840 -$858 then there may be some resistance
If we go up from there
$840- $858 then I think we could trade in-between there up to $880 -$885 and see more resistance, if we break that then it is set for hitting the $900 - this is a psychological resistance point..
If there is a break out and if we go past $900 and break $910 -$915 then it has a chance to go onto break $928 and from there maybe we see a real break for $945 - $970 - $991 + then things get intersting...
I see us going up , but ...
Downside scenario from this current channel I can see the possible resistance
$825
$817
$800 psychological
$775 ish
$757 ish
$749
??
Edit.... or for now we see more of this sideways tading within a channel $775- $820 until something goes bump in the night.
What analysis are you using for your price targets? Fibonacci? Maybe it's just because I've been on a holographic universe kick recently, but I'm starting to see fractals everywhere. This *feels* just like the aftermath of each previous spike/correction. As you scroll back in time on the charts, you just see the same pattern repeating over and over, just with smaller amplitude and longer time frames. It totally reminds me of those computer animations where they zoom in or out of the mandelbrot set... http://www.youtube.com/watch?v=0jGaio87u3Aor maybe that's just me. Yup two different set of Fibs retracements tracing back over two time frames, ie the last two big moves... some of the retracement lines intersect, plus just drawing some lines and looking at the channels it seems to be bouncing around in... and looking at the chart... Do not get me wrong, I am not stating this is 100% , far from it, but I am saying it could be a useful indicator along with the others, market depth=walls ,volume etc and whatever other lagging indicators one feels does it for them...MACD stoch etc... personally I have a few and I like the Fib retracement lines though because they do seem to fairly often describe (even predict) shorter term moves and bounces inbetween channels... there is of course a case for targets set around the fibonacci retracements based soley on the self-fulfilling phenomenon ; ) I am more of a fundamentals guy, but like a chart too.. Yeah Mandelbrot - what a guy... there really are patterns everywhere. gotta love that apophenia |
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I can see that Bitstamp lead this rally from about 8:30am GMT, which is encouraging if we agree that non-China led rallies are an especially good sign.
Similarly to September's 'stability' period preceding a major rally, maybe most of the large off-exchange tradings have now been done, so the breaks are being released
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