Sometime around spring 2014, I discovered that guys like rpietila are actually the true face of bitcoin the currency (not the technology). About then I started to dislike bitcoin the currency.
I discovered that earlier. He claimed that bitcoin price should reach an astronomical figure by the end of 2013, but sold around 850$ IIRC and then suggested everybody should turn bear.  |
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Finally my transfert got credited on my bitstamp account. Where my cheap coinz? Wait for the next weekend. |
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The bottom is close boys!
...
While THE bottom may be close, compared with the many months of bear market Since December 2013, a mass panic selling can still occur.  |
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I doubt that exchanges are manipulating the price down, on the contrary they are interested to pump it up but can't do much now.
The bubble has to properly deflate and then the Willy clones will pump the price up, after the last ATH will be broken new bagholders will rush in.
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Are drug dealers going to move to ApplePay? I don't think so. It's a different market, doesn't compete with bitcoin.
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4h MACD suggests sideways or slow up for the next 24h, after that will come an inflection point.
Is there any reason to use 4h, rather than some other timeframe? Only that during the last couple of weeks it was a relatively reliable indicator (compared with other time frames). |
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4h MACD suggests sideways or slow up for the next 24h, after that will come an inflection point.
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Last hope is December this year on the ETF. When the last hope is gone, so too will the price.
A massive correction will benefit the few who has the balls to buy when everyone is selling.
I'm so waiting for this correction, I'll buy a hundred when it's below $50  Actually, if it drops that low many people, myself included, might get out for good. Price can't drop that low without some catastrophic reason, which I hope won't be the case. |
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It's that awkward moment where you realise even ShroomsKit makes more sense than the permabulls...  (sorry ShroomsKit, still love you  ) Well, I said that a couple of months ago. If he weren't rude his considerations would be taken more seriously. |
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Hodlers. If they would have sold at the right time, the price would have found THE bottom by now and we would be going up.
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MACD in multiple time frames suggests this drop is slowing down for now, so I'm going to bed.
However the Chinese exchanges have shown a bearish mood lately, so I wouldn't be surprised to see another drop tomorrow.
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Adam, time to change the poll (Halloween is over anyway). I voted 360$ and it turns out I wasn't bearish enough.
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Pretul trebuie sa atinga un minimum de la care poate creste si forma noua piata a boului (traducerea "bull market" suna ca dracu' ). Devine tot mai evident ca minimumul de 275$ de pe 6 Octombrie a fost prea ridicat pentru a permite asa ceva. In ceea ce priveste un scenariu pe care eu il consider cel mai probabil acum, am postat asta in alt subforum:  |
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Up ~$10 from today's low on stamp. Trend reversal  Not on this volume. Just a breather/reprieve. Your irony detector is malfunctioning... |
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Does anyone really doubt at this point a return to 275$?
Permabulls keep hoping, but what do they know? The real danger is not finding a new bottom from which a slow bull market can develop, that's normal, the danger is that too many whales could panic sell below 300$ so the new bull market won't be able to develop and we could see an extension of wave C and eventually possibly double digits.  |
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Now that the bullish scenario is looking unlikely, I reviewed the bearish one, and it could be more advanced than I thought. Here is my current most probable scenario, with a bottom between 150$ and 200$, depending on how many whales will panic.  |
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China is leading this round of dumps, nice. I can almost hear them: CHEEEP...CHEEEP...CHEEEP...COOOINS... |
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