That's debatable.
sarcasm is usually not debatable  |
|
|
|
What I meant is that people who were buying thought that yesterday was a clear sign of reversal, others thought that the 30K wall was a clear attempt of manipulation to buy "cheap" so they bought back fast, others thought it was the last sign before the Cho Cho...
What people seem to ignore or don't understand is that once we reach the bottom, no one will miss buying "cheap", because we will be trading at that level for several weeks before going up.
And you reach that conclusion based on what exactly? We don't have much precedents to work with, as Bitcoin trading history is only ~4 years old. During that time, 3 major rally/capitulation cycles took place, and we're still in the capitulation part of the of the 3rd one. (There are other ways to parse the trading history, but this one's fairly well accepted.) I'm mentioning this because any extrapolation from so little data points is of course dubious. Then again, it's the best we have. So, what do the two completed capitulations look like that we've seen so far: 2013: bottom 1 = ~$50, the initial post-ATH crash. bottom 2 = ~$65, about 3 months later. In between: extreme volatility. Nothing like a flat bottom that allowed you scoop up "cheap coins" at will. Also, 2nd bottom already 30% higher than the first. 2011: bottom 1 = ~$2, at the end of the almost straight down, multi month correction bottom 2 = ~$2, about 1 month after the first. Maybe that's where you get the idea from that you could scoop up cheap coins for weeks before it goes up again. The only problem - even in the 2011 double bottom, there was extreme volatility in between. Price went from $2 to almost $4 (i.e. +100%), before coming down again. tl;dr There's not much data to work with, given the short trading history of Bitcoin, but from what we have seen so far, a flat capitulation bottom, stretched out over weeks, doesn't seem likely. last year we had a 2-3 months of trading between $90-120, it was then when I decided to invest more, it was clear (or felt) to me that something was developing, I didn't expect 1000 but I was thinking about 400. We could go from 330 to 430 but then we could fall back to 280 and so on... the average price of that week and the weeks ahead are not that far, by looking at the 1w chart(long term) even when the price is volatile a normal sane investor could catch that bottom average price, but an investor that panic each time could lose everything. look at the 1w chart, regardless of the pumps and dumps and guys yelling about reversal and whatnot... it is still damn accurate and clear about the last bubble not totally bursting, I sold between 580-630 and I kept holding my fiat (till yesterday I bought at 300 and sold at 318) just by looking to that chart every week, even when there is an action I wait till that week candle close and wait for the next one to see how it will perform, and till now it still showing a bearish market. 1w chart ( from septemebr 2011- October 2014)  I might be wrong, and this market could react totally the contrary of my understanding, but I am willing to give it a try |
|
|
|
I laughed more than I should have. LOL
Yea i'm not bein racist but those two countries are known for havin shitty economies. I don't take financial advice from homeless people and i don't care what their central banks think.
Well i am from Serbia, but i share your sentiment. Could be worse. You could be from Detroit. does that make the whole US a shit failure land ? just saying... No, but it tells you something about the people running it. you mean the ones that got voted by a free and democratic process ? |
|
|
|
I laughed more than I should have. LOL
Yea i'm not bein racist but those two countries are known for havin shitty economies. I don't take financial advice from homeless people and i don't care what their central banks think.
Well i am from Serbia, but i share your sentiment. Could be worse. You could be from Detroit. does that make the whole US a shit failure land ? just saying... |
|
|
|
I'm pretty sure satoshi is someone within MTGOX.
Within MTgox !!! like Mark...who else could it be within gox ? well it is possible.... |
|
|
|
Told you so!
you are just wasting your fiat ammo.
just play his game and profit!
people who bought yesterday will be selling again in few days and this will create even bigger pressure. not really everyone, however what I think you mean to say you believe the majority of people buying coins weren't cultists catching knives, and are going to succumb to selling and buying back when the dumps re-occur? I bought at 450 and 420 cad, avg in was 540 cad before hand, and I really think I'll buy again before it can get above 400 cad, I don't sell cause I feel I'd fuck up the timings and it may be a poor reason but its the truth. I don't mind giving my money as support to the bitcoin price discovery phase, ultimately I believe it will help us reform financial systems if I have to lose some value so be it. I just don't see that being true in the long run. What I meant is that people who were buying thought that yesterday was a clear sign of reversal, others thought that the 30K wall was a clear attempt of manipulation to buy "cheap" so they bought back fast, others thought it was the last sign before the Cho Cho... What people seem to ignore or don't understand is that once we reach the bottom, no one will miss buying "cheap", because we will be trading at that level for several weeks before going up. |
|
|
|
Told you so!
you are just wasting your fiat ammo.
just play his game and profit!
people who bought yesterday will be selling again in few days and this will create even bigger pressure. |
|
|
|
Quite possible. Name-calling just furthers division by oversimplifying. I imagine being called a deluded bulltard cultist all day long AND having the price go against you must hurt as well  By the way while I am generally bullish on BTC but I don't want to be labelled a bulltard, it would hurt my feelings. In fact, I am a permabeer troll I'd say it's more herd mentality than anything. It's easier to agree with the majority, because there are more people to back you up, and less people to insult you. That's why people tend to migrate to forums where their opinion is in the majority: it takes a lot of balls to buck trend. Add in the fact that for this forum in particular, you've got a lot of people with a lot of money invested, and it's easy to see why it's so polarizing. Find an anti-bitcoin forum and post bull arguments. You'll get the worst proverbial beating, and no matter how many rational arguments are presented, they'll all fall on deaf ears and be flooded by a deluge of shouts of "idiot, loser, sucker, enjoy spending your money on internet monopoly money." I don't understand people who dislike something but visit forums dedicated to it, they are trolls plain and simple. Boring, sad, dull people who have nothing better to do with their life. You know what I can't stand or understand? Formula 1. It's boring as fuck, watching cars go round and round, but I don't join formula 1 forums just to call them all boring losers who are wasting their life. It's really quite bizarre behaviour for someone to do that, I don't hate Bitcoin  |
|
|
|
I must admit that your style of writing comes over as "I am smart for recognizing the truth and you are stupid for deluding yourself" but then again you have turned out to be right, so far Don't forget he was also a big proponent of LTC and look how this turned out  indeed, and I made a good money out of that as well... do you see me mentioning Litecoin anymore ? I dont think so.   |
|
|
|
mmitech brings good bearish points to the table I just wish he wasn't so smug about it.
If he means well and wants to tell truth as he sees it (as he asserts) he's hurting his cause by presenting it in an often offensive manner which makes people overlook his points and focus on the delivery. Self-image won't let us agree with somebody who we perceive to be disagreeable and if he turns out to be right, we will hate him for that. Some people find joy in that though, are you one of those people, mmitech?
+1 It's one thing to be bearish and present your arguments. It's a whole other thing to be quite frankly abusive to anyone who is bullish. @mmitech: All those bans don't come because the admins are trying to 'silence the truth' as you always say. You get them for being smug and offensive. There's no need to insult everyone who does not agree with you... I have been never banned anywhere in the web in my 15 years internet browsing, except Litecointalk and only by Sy and Cranth... makes you wonder why, doesn't ? |
|
|
|
and BTW I have nothing to lose and I have no books to fill, I am investing back only a small amount of $4200 and nothing more, everything I made from Bitcoin last year was spent in a good way.... most importantly I am not delusional as most of people are, I don't expect anymore from this investment to change my life....  |
|
|
|
mmitech brings good bearish points to the table I just wish he wasn't so smug about it.
If he means well and wants to tell truth as he sees it (as he asserts) he's hurting his cause by presenting it in an often offensive manner which makes people overlook his points and focus on the delivery. Self-image won't let us agree with somebody who we perceive to be disagreeable and if he turns out to be right, we will hate him for that. Some people find joy in that though, are you one of those people, mmitech?
I was bullish when I thought it was appropriate and right, and I turned bearish when I thought it is appropriate and right, I wasn't hated but I was considered as a "bitcoin advocate" but when I turned bearish they consider me as a troll and a fudster....it is easy to explain, I said it and I will repeat it, Bitcoin community is full of cultist hopeless people who depend on Bitcoin success to make anything in life. No, I wont change my tone....I am also not an arrogant greedy bastard, because I did notice people here like to lick ass that kind of people.... truth hurts, destroying hopes and dreams also hurts, but most importantly being emotionally invested in anything will eventually hurt as well. |
|
|
|
just remember the bull market runs on your tears, you're just fueling engines.
I will cry even more if this will save your asses.... and I will do it for free. For your future reference, mmitech, those are called Crocadile tears.  you still didn't learn anything my friend, most of you consider me as a bear troll who's filling his book while I consider my self a person who speaks truth when he see it ( or think that he see it).... it is not only me, there is so many objective and smarter people than me out there that would say the same thing about Bitcoin, for instance read this.But the real chart that should spell worry for bitcoin investors is this one, which shows that, despite the hurly burly—and more than $100 million poured into bitcoin start-ups by venture capitalists—actual use of the currency hasn’t really increased. Recent gains in transaction volumes have coincided with a falling price; that is to say, people are selling.  |
|
|
|
And oh, just look at the larger holders and early adopters shitting their pants @ twitter and in this forum, it is a hell of fun watching fear tearing the shit out of them.
Do you have links? I have not noticed this fear. snip just remember the bull market runs on your tears, you're just fueling engines. I will cry even more if this will save your asses.... and I will do it for free. |
|
|
|
And oh, just look at the larger holders and early adopters shitting their pants @ twitter and in this forum, it is a hell of fun watching fear tearing the shit out of them.
Do you have links? I have not noticed this fear. Bitcoin store owner and Blochain.info founding member and board advisor  Barry Silbert Founder of SecondMarket, Founder and CEO of BitcoinTrust  Tylor Winklevoss  My twitter feed is full of this kind of tweets 
and just a brief look into this forum will tell you how much fear and denial is in the air because of the hero and legend members still holding shit loads of Bitcoin. |
|
|
|
|
Good morning, So Bitcoin price is 4 times less than the ATH and people are cheering up for $20 and calling the next bubble and reversal !!!!? what a delusion, you have been doing this since $800
And oh, just look at the larger holders and early adopters shitting their pants @ twitter and in this forum, it is a hell of fun watching fear tearing the shit out of them.
|
|
|
|
I think (not sure yet) that there is a good chance that we will see double digits before we go up again (reversal).
Just let us know when double digits will be confirmed you will know for your self |
|
|
|
|
I think (not sure yet) that there is a good chance that we will see double digits before we go up again (reversal).
|
|
|
|
Just to remind you perma-bulls, this picture doesn't look good.  There is a chance that the new fiat will start panic buying, but I don't think we will be going over $380 That 10Mio. that have been used yesterday to buy the wall never appeared in the orderbook yesterday, did they? We don´t know shit how much there really is. yes some of them did, people pulled their bids and bought right away into the wall, there is at least 8K BTC less in the Bid side. |
|
|
|
Just to remind you perma-bulls, this picture doesn't look good. There is a chance that the new fiat will start panic buying, but I don't think we will be going over $380 750000 Bitcoins have been bought and sold during the last 24 hours on exchanges alone and you are telling us that the market depth is only 15 K to near zero? I am not telling you that, Bitstamp orderbook is telling you that... |
|
|
|
|
Show Posts
