Either way, i'm waiting to see what happens next.  Seems like the ETF could be a big spark.

A poll would be nice

But I assume no. 250$ is the floor.

While that is true if that price even somehow bounces back by a $1 or $2 it might give people a bit of confidence to buy. Then the price seems to rise by itself.

I think it will end up bouncing back. It has before when it reached this price. The only problem is that it is the weekend so nothing will most likely happen until monday for it to bounce back. Hopefully it does bounce back though.

I am very surprised people have sold their house to buy bitcoin.

I certainly would only do it if I owned more than 1 piece of real estate and saw an undervalued bitcoin opportunity to buy in.

2014 was not the year I would have sold real estate for bitcoin. I was cashing out in the $780-$820 range.

Got a few things at $1120 peak in dec 2013.

Diversification is never a bad thing. Glad I did not hold 100% bitcoin in 2014. I sold about 60% for fiat and invested in other asset classes.

I personally think it is never a good thing to have all your eggs in one basket.

Nothing can be taken for granted with the market, yet history tells that mankind has yet much to evolve.

I would say that most traders that put forth the effort to learn any TA will also at least know of EW (not that they'll take the time to learn and apply it). Many write it off as voodoo while following their own systems in their path of irony.
If too many people follow EW, it can be a problem IF they are all on the exact same count. This is because they will begin to front run one another until it moves the market adversely for you and in favor for someone else's count. If they are not on identical counts, then it's all fine since they will have targets at different points, and effectively help EW do what it does.

Question?

What happens when most traders in a market are aware of EW cycles and actively look out for them. Does this affect how EW effect on price? What happens when all of us/most have a clue of price direction next.

My opinion is its effect will be diluted, I am open to being swayed though

Winklevoss files to launch Bitcoin ETF
http://www.reddit.com/r/Bitcoin/comments/2qx1sz/winklevoss_bitcoin_trust_files_to_sell_201/

BTC price went up from 310 to 320 after this announcement.  It's hard to say how much this will increase investor demand, but making it easier to purchase bitcoins is positive.

In determining whether bitcoin fits into the 35%, you aren't factoring in that bitcoin is unregulated and has been hugely manipulated by scammers - mt gox, e.g. This has had a bigger effect on the price chart than fear/greed in a normal market.

what many dumbos in here don't realize:
if it breaks below 280$ now for much longer than half a day it's finito, done with, over, byby - all your dreams will be crushed in that case and bitcoin back to 5$ because the longterm bulltrend to which everyone is pointing all the time would be broken, a new bearmarket on the super-trend would start and we'd likely end up sub 1$ prices.

We're dangerously close to that trendline. It'll be one epic panic if we break that. If it doesn't bounce now you can burry your pipedreams.

No one can predict this. We have to have a lot of patience. It's the same with everything on the market. Suddenly it goes very much up or down. If you can predict the future, you should be very rich. By low and sell high is what everone wants.
I think best is to keep it for a long time and see and wait.

The price of Bitcoin will continue to stagnate along with other commodities until the next global economic crisis. The outcome depends on the circumstances with regard to how the next crisis is handled by the institutions; the price may rally or it may fall steeply. If TBTF banks use depositor funds to cover deficits (bail-ins) then virtual currencies and precious metals will likely rally in price and relative value in the months following (until the eventual demise of our economic system.) If the banks are allowed to collapse there will be an unprecedented price discovery period for the market and the purchasing power of virtual currencies and precious metals will likely collapse with everything else until confidence is established; the conversion rate may increase, but the purchasing power will likely be less than it is today. A collapse of the worlds financial institutions would be a life altering event for billions of people. The question is ultimately, what will gain value fastest in a post-collapse economy?

Brace yourself because the show is just starting. The recent price collapse of crude oil has already started the wheels in motion. It's like watching a tsunami spread across the ocean; it just looks like a ripple moving quickly across the deep sea, but as it approaches the shoreline the magnitude of the impending disaster will become more obvious. It takes some time to impact the market, but like a tsunami the most damaging effects are usually felt long after the triggering event occurred...

Buy or Sell, it doesn't matter; the value of your investment is what's at risk and you will face the loss of value in every category no matter the outcome... It's nearly comical as if we were all rats scurrying for shelter on a sinking ship...

I'd rather be in silver than Bitcoin at the moment. I expect that confidence in digital assets will be a hard pill to swallow for many average consumers unless the fed can somehow give the can another kick to buy us a few more years under our current monetary system...

Backed to some extent is really not backed at all. Countries do not accept an independent audit of their gold reserves. So nobody can be really confident of the total gold reserves that a country has.

You also have the money supply exploding. If we look at what various QEs have done to the money supply, the ratio of gold reserves to total fiat in circulation would not appear comfortable at all.