Why would you leave now? Times like these are when I love reading this board.
Yeah same here. It shows that a lot of people have now idea how bitcoin works and they're just here for some quick profits. It's either 'We're going to the moon!' or 'Bitcoin is failing. Sell now to cut your losses!'. Bitcoin has a way of tossing these people aside through capitulation. |
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go hunting levered longs and then crash the market? O_o could it be? they're that crazy? how can anyone sleep in times like these  They're crazy but not stupid... I hope. |
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Gang, I must admit that I am a bit confused at this point. We broke the $505 resistance mark on Bitstamp which is very bullish, but we only did it for a very short period and only slightly. In the meantime, China has not emerged past their key resistance points. Thus, there are contradicting indicators.
At the same time, we broke $505, right? This really should be the end of the storm. I want thoughts from people in response. Not frantic words of BUY BUY BUY or SELL SELL SELL... just thoughts. What are you all seeing (with details)?
You want serious thoughts on price in the Wall Observer thread? You must a newb.. oh wait. Alright. Personally, I don't see much of a chance for a more serious bounce back up yet. There's only very low volume on the counter moves up, today's entire daily candle outside lower BB, and we're only in day 5 of this severe trend (and they tend to last longer once they gather speed like the current one). I'll grant we are drastically overbought, so there is certainly potential for some bounce back, but I suspect we have another day or two of decline ahead of us before that happens. I agree. I think we could bounce around $500 all weekend. If support gets pulled we could test $450 again. I'm trading over in LTC land at the moment and $5 has held well even with the latest 1000btc sell on bfx. Normally it follows BTC dumps like clockwork. At some point the markets start saying no. |
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I'm trying to help people from losing their money. That makes me the good guy, and you the troll. I don't know how many times this year I've seen bubble predictions for the next month, and absurd claims of all time highs "right around the corner". They've all been false, and people need to be held to account for it. If that makes *me* a troll, then so be it.
It's not your place to be giving financial advice or playing the savior. If you're shouting that the sky is falling and bitcoin is dying, what happens if someone sells based on your opinion and the price rebounds? How should we hold you accountable? We're all big kids here, we know what we're getting into. Also, you're a troll. Back to ignore with you. |
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1000btc sell on bitfinix. Let's see how many lemmings follow.
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+1 The logic is sound, the facts seem to fit, and I agree. so why is price not performing as it should be? as long as their anxiety results in them selling more bitcoins to the deep-pocket investors, the wait continues.
yes, that seems to be the case, I would go one step further and add that the deep-pocket investors are playing with the market, dropping price, leverage hunting, down playing their willingness to buy, all in the hope of adding to that anxiety resulting more bitcoin available on the market for them. no one drops large sums of bitcoin when news is gr8, unless they want to manipulate, and we saw just how effective a well placed large market sell can be, with last nights long squeeze. do you believe there is some manipulation is taking place? how long can they keep this up? how low will they make us go? are their tricks working for you, are you scared, are you selling!? It's a new land, like the Wild West. There are unwritten rules that yet need to be written. honestly i think this manipulation should be allowed. theres nothing stopping anyone from trading against them... as long as there is no nake shorts, i'm ok with it really, i don't like it, but i see no good reason to put rules where none are needed. the market will take care of this itself. I agree. Once we know these algorithms/tactics exist there is nothing stopping us from profiting. "Wall Street" needs to watch its back--there are no regulations in place to protect them this time and the big whales who have been in this market for years and hold a large percentage of coin are certainly not dumb and won't give it up easily. That said everyone in this game has a vested interest in seeing bitcoin succeed, so I don't think they'll knock down the price enough to garner negative media attention. |
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I first heard of Bitcoin at around $3 and laughed that it was some sort of scam..
In hindsight I now know I should have threw a hundred dollars at it and prayed that it become something.
Although we haven't missed the boat per say.. We certainly missed the easy money train many of the earlier adopters boarded.
You see, that's exactly where your thinking is wrong. Even at $3, there was an enormous amount of risk involved. Everyone is always saying buying at lower prices was "easy money". It absolutely was not.Would you buy several hundred dollars of some of these shitty alt coins? No, because you'd have the EXACT same apprehensions as buying Bitcoin in 2011. Bitcoin was *NEVER* easy money. Hindsight! I heard about Bitcoin in 2012 sometime when it was around $3. I thought it was cool and I even calculated how many I could mine with a Radeon 4870 (an old video card that hashed at a whopping 100Mh) which was like $5 a month or BTC1.3... not even enough to offset the power. Today you could live off that amount in many places. Ultimately I decided it wasn't worth the trouble and told myself I'd come back to it. Never did until early 2013. But yeah back then it seemed very risky. You either mined them or sent money to a shady exchange. Both a risky venture. There wasn't the wealth of information available to learn about it, either, and nobody accepted it as payment. So for newcomers there wasn't much reason to invest: Not much information to go on, the community was very small and very nerdy, and the media treated it like a ponzi. |
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Those leveraged longs waiting for a big price increase on BFX were too tempting a target.
You guys wanted Wall Street, here they are!
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Trading on margin: How to lose your money even faster than before!
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Thanks for the support guys.
As a musician, I see TA (or a general understanding of how markets work) as music theory. In college I hated theory but it's integral in being able to read a score, put the pieces together and properly recreate what the composer intended. And don't get me started on piano scales... ugh. But you trudge through and learn all major/minor variants because it makes you better on the other side. In the same way learning market theory is helpful: Even if you don't use all of it, you get how it plays into the bigger picture.
Plus it helps protect your investment... when the price drops you can glance at a chart and not freak out and panic sell.
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All the people worth reading like TERA were driven away by the HODL-tards for giving contrarian views. After all the juvenile attacks against them, why would they come back? All you delusional bulls have each other now.
There have been countless others that have come through here only to be driven off. It doesn't matter if they're bulls or bears, there's absolutely no control here, and after the removal of noobie jail it's just gotten worse. Couple that with a mod who's asleep at the wheel, or a general bull-troll himself and what do you expect? These forums have absolutely gone to shit since the beginning of 2013. Start reporting stuff? This particular thread aside (which by the way is moderated by Adam), I do clean up, but it's largely invisible since the actual bad stuff is deleted. I could clamp down harder on thread quality control, but there simply aren't that many new topics created so that would detract from how fresh page 1 is. I'm also sad that TERA is gone. TERA is a coward and a manic/depressant. I always got the feeling he couldn't handle being wrong and emotionally vented on the forums. Gotta take your blows like a man. Not sure about the manic depressive thing but I know a guy like that and it's very difficult being friends with him. He's crazy and acts like a cokehead for a month then retreats and is dead to the world for three. |
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Funny to watch trolls like benihana come out and play chicken little.
Ask yourself, has anything changed fundamentally with Bitcoin? Is there something wrong with the protocol? On the contrary. Businesses and investors (professional and amateur) are clambering to get aboard.
The sharks are in the water and they smell blood. Don't sell during these times unless you know what you're doing. And if you have to get advice from this forum, you don't know what you're doing.
People say this, but I don't think they really understand it. Bitcoin doesn't need to fundamentally change. It is what it is. And what it's been, for the past 5 years, was an asset that could be held and would run up in value every year. Finally, in 2014, it can be used with some mainstream merchants, and people have taken advantage of that. But the distinction we need to make here is... bitcoin holders themselves are the ones taking advantage. Very few people are buying bitcoin to turn around and spend them. That is not the drawing point... it is just an added amenity for those who already hold and want to use them. So without the yearly price increases, bitcoin suddenly loses its luster. Today, Amazon entered the mobile payments realm. No bitcoin has not fundamentally changed, but the world around it has. And it seems like the world is saying, we're not interested in bitcoin anymore. There have been greater ideas than bitcoin that ultimately failed. Just saying. Disagree with everything you just said, but might want to double check with your high school math teacher. |
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Funny to watch trolls like benihana come out and play chicken little.
Ask yourself, has anything changed fundamentally with Bitcoin? Is there something wrong with the protocol? On the contrary. Businesses and investors (professional and amateur) are clambering to get aboard.
The sharks are in the water and they smell blood. Don't sell during these times unless you know what you're doing. And if you have to get advice from this forum, you don't know what you're doing.
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Its been ltc leading the way.. right now its bearish till its not  LTC follows BTC, not the other way around. |
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Well, what are the thoughts on breaking back I to the $400s?
I think it's extremely risky to be short under $500. |
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Market is oversold on the 3d RSI. Historically this has been a good indicator. Doesn't mean we will rocket up tomorrow though.
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Think about it...
Where was Bitcoin when it was at 2.75 years old?
I think you will find some very particular similarities between the two.
I think the assumption that litecoin would take the same development path as bitcoin is quite a stretch, tbh. Retailers are beginning to accept it, for one. Not many but a few. I was browsing a great electronics site yesterday (can't remember the name) that accepted both BTC & LTC. Very well designed, professional site. |
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