During the peak of my trading before I started pulling out due to the volume decline, I was making 500BTC trades.
Do you mean when MtGox folded, or before that? I can't really decide how to calculate volume. The rapid rise in the Chinese exchanges always felt a bit funny. My biggest trades were in December when we did a day with over 100K volume on Stamp/finex and 140K volume on btce and I was trading on both of them at the same time.
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I believe the 27k btc sale will have no effect at all and the drop last week was just a panic fueled catalyzing of an overdue market retracement from the 450-680 rally, fueled by multiple fud sources.
Do you think 27k btc is to little amount to effect the market ? If it is sold privately it probably does not affect the market. Now if it is dumped on Bistamp then it affects the market temporarily for a few weeks.
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if you use a magnifier.. you could see that 1w chart for Stamp has gone GREEN You mean the 1w MACD? It's actually flipping between red and green now not sure what to do. MACD crosses need to be confirmed with volume and you should usually see more than one macd bar green since the latest candle is not closed yet.
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I am definitely bullish on a 3 year perspective. I have no TA to show you that it wouldn't be 5K in 3 years from now. The only thing that could cause this would be a serious fundamental change: - EC is cracked - There is a serious vulnerability, virus, or failure in the protocol that cannot be recovered - Ban by U.S. government - A complete economic meltdown or world chaos (in a way such that bitcoin is not used for capital flight) - A competitor
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Actually most people here will call your viewpoint bearish for saying for saying that it could be an "entire 3 years" before we reach $5K. That's like an eternity.
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maybe if you consider the previous ATH the moon. none of them go above ATH
My apologies. I stop drawing charts once it reaches ATH because I thought it was implied and obvious that a rally would start then. I never meant that the price would actually just stop at ATH, lol. Hmm maybe THIS is why people think I'm bearish?
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Bitstamp lost market share because: -outrageous fees -ridiculous fee structure ( https://bitcointalk.org/index.php?topic=597647.0) -fears that Bitstamp could become the new MtGox (BTC withdrawals delays, invasive info for fiat withdrawals, the audit with Mike Hearn was suspicious, etc.). Traders still refer to Bitstamp for TA because it has historical chart data from 2011 until today, though. Bitstamp lost market share? I wasn't aware of that. I thought volume declined all accross the board. Who gained market share? Bitstamp's fee structure isn't really that bad. It advances about 10 times faster than gox's old fee structure did.
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How much do you guys use to trade?
I'd say a professional trader is someone whose main source of income is trading but you're not much of a serious professional trader at less than 70/80BTC of bankroll, what do you guys think?
During the peak of my trading before I started pulling out due to the volume decline, I was making 500BTC trades. Nowadays I barely trade at all and don't even want to keep coins/funds on an exchange.
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^ This removes one risk while adding another - You could end up in a massive pile of 10x debt rather than simply blowing your account.
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using leverage like that is awful. imagine a silk road like black swan event where the price drops for one day to liquidate you and then immediately rallies into the next ATH rise.
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Where do you get 10x leverage? Is that the one that Bitfinex offers if you have $100K in your account and you send them a special email request?
This also requires that you not only trust a) that bitcoin goes up, but that b) bitcoin never retraces to a mere 10% under your buy-in (where you are liquidated) c) your exchange doesn't steal your money (kind of defeats the point of using bitcoin to trust an exchange)
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I believe the 27k btc sale will have no effect at all and the drop last week was just a panic fueled catalyzing of an overdue market retracement from the 450-680 rally, fueled by multiple fud sources.
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Wow. Just because you decided to sell your coins and not have to work for 2 years, you feel the need to make threads attacking bitcoin so you feel better about your decision? Lulz
did you vote "go fuck your self" ? if you didn't go ahead and do if you feel that way This is how I need to start responding to trolls also.
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We crossed 600$, maybe we will go back on track and cross 700$ this week
I surely hope we will, we had a lot of positive news
We need longer than a week to break $700. A week isn't enough time to fill in the chart properly. News doesn't matter. In a regular market but it is not a regular market and 610>700 is only 15% I'm actually basing it on how bitcoin typically trades, not based on regular markets.
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^ I don't think there would be a retracement at all at ATH and the retracement at 1000 would be very brief. The only really significant resistances on the chart are at 650 and 850. Once we defeat 650 we would battle 850 and if we defeated 850 we would be good to go.
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They may have beenwrong but none of them were bearish. They all showed the price eventually going into a double exponential rally within one year at the latest.
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It's not pessimism. It's a rational explanation for why this might be taking so long with any announcements at all.
Now if I was actually pessimistic I might say something like... "they are actually planning to ban bitcoin".
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They're probably struggling to figure out exactly how to regulate it. Remember during those court meetings the panel was explaining to the regulators how bitcoin works and the regulators didn't even really know that much about it at that point. There were a lot of ideas thrown around that sounded good on paper because the regulators were thinking of the ideas in terms of how traditional finance systems work, but they weren't thinking them through on a technical level of how bitcoin actually works. Ben Lawsy probably realizes now that he got in a little over his head now that the regulators have learned more about what bitcoin actually is, how it works technically, the decentralization, how the existing exchange system is set up, and who the big holders are. Everything will have to be re-thought. It's probably a nightmare.
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Going up boys! http://imgur.com/cIKlYueVolume is a little low for the breakout. I would be concerned if volume doesn't pick up or if it fall back down below the trendline draw on chart. Why do you call us 'boys'? It sounds like something from a penny stock forum and makes me trust you less.
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lets just put this here again The rise of 2013 was much higher than the rise of 2012. Some people keep speaking of the obvious "line" on the log chart. However I am having trouble finding this line and in fact I can draw several lines which would allow btc to go much lower than it is now before going up again. I have plotted a couple for reference. The low volume and the lack of significant bid depth on mtgox that continues to fail to fill in above 125 seems to confirm my suspicion that it isn't ready to go higher at this point. I think this ordeal with the bid depth was an inflection point for this Jul-Aug rally. My new view of the market: I wouldn't be suprised to see flat for an entire year. [/quote] I notice one thing in common with all of these charts: they end up with the price on the moon....
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