The price fell to $440 when gox fell apart. IMO the floor is $400. When people go dump crazy there will be to many buyers to let it go lower.
A Chinese buying spree is what stopped Western markets from going sub-400 during the Gox fiasco. If those Chinese gamblers get their liquidity cut off I don't see what would hold it up. |
|
|
|
Why does anyone care about China at all?
A dead Chinese btc market is a good thing, and it should have been factored in already.
Chinese gamblers is what took bitcoin to 1K. |
|
|
|
|
lol @ value investors. The Chinese are the biggest bag holders of bitcoin, once the fiat restriction is confirmed by the PBOC they will all panic sell.
|
|
|
|
this volume on huobi is increadible, it could even absorb a big amount of the stolen gox coins without totally crashing.
Huobi's order book is filled with phantom orders. They quickly disappear when price gets near it. |
|
|
|
Here's a little reddit repost for you guys: http://finance.jrj.com.cn/2014/03/27101116938690.shtml[1] In this report, the reporter claimed he called a person in charge of Huobi and BTCTrade CEO, both said they have received no notice from PBOC. Currently, they are doing business as usual. Obviously they are going to milk the cash cow to the last drop. |
|
|
|
It says that using bank accounts to send funds to a Bitcoin trading platform is prohibited, but that cash trading is not (除非现金交易). I wonder how that is going to work. Will people withdraw large amounts of cash and give it to an agent of an exchange? Inconvenient, but it would not deter me from buying.
It would effectively dry up fiat liquidity on Chinese exchanges, as time goes by less and less fiat will be available. It's pretty much a death sentence for Chinese bitcoin exchanges. |
|
|
|
|
It has been a bear market since December - or January if you don't count that bull trap with strong bearish divergence. The only way to trade bitcoin now is to short or briefly ride bull traps.
|
|
|
|
|
Bitcoin's volatility is only a problem when prices consistently drop. When it's rising, nobody complains.
|
|
|
|
|
#bitcoin addresses is a weak metric. Many bitcoin owners have multiple addresses, and whales have been splitting up their coins across many addresses recently due to hacking fears.
Probably the most accurate adoption stat is the growth of active users on the main bitcoin exchanges. Only insiders have access to this knowledge.
|
|
|
|
$100 may not happen even in a 2011-like scenario.
It already happened (on BTC-e, Bitfinex and ''Mt.Gox'').  |
|
|
|
There are 3 grey lines of different trends of bitcoin. Some of them might be possible.
Red one doesn't make any sense....
It was just comedic TA, not to be taken serious. |
|
|
|
Would Mark Karpeles and his mates with their 500K + defrauded Bitcoins be counted amongst those 'bag holders'?
What about the hacker thieves? Cashed out already have they? Show me the volume spikes where you suppose that they have cashed out (remembering that cashing out a big bulk of stolen coins without being detected isn't an easy thing to do).
Most of the weak hands bought in the 300-1000 range last year. This is visible by USD volumes on exchanges and the growth of users on r/Bitcoin last autumn. If a good portion of them can be shaken out a lot of selling pressure will go away. |
|
|
|
|
300, so we can get rid of many bag holders who'll leave the market in the capitulation and stop pushing prices down.
|
|
|
|
|
Surprised there haven't been any big bull trap bounces yet.
|
|
|
|
This feels like capitulation.
You can sense the despair on r/Bitcoin. the permabulls are starting to question themselves lol |
|
|
|
It's a computer game. You can win it by buying low and selling high. |
|
|
|
|
You can wipe out bitstamp's entire order book with a mere 32K BTC. One can imagine what 1 million BTC would do.
|
|
|
|
Take a look at what happened when i overlay Aprils price boom with Novembers. Definitely some striking similarities to it so far... I think this is true sign of things to come.  https://i.imgur.com/OhhX2rB.pngSo many people will lose their shirt thinking that the 2013 pattern will repeat. Elliott wave analysis predict that this year will be very different from 2013. |
|
|
|
|
Show Posts
