Huh.. yeah exactly. I was reading this and my irlfriend came in and said 'Uh-oh.. what he's saying is bad for bitcoin'.. before i politely pointed out that he is from a bank (JP Morgan?) and if he's saying bitcoin = bad.. then this means the oppositte. This is exacly what i'd expect him to say.. and that whatever he says about bitcoin, then she can believe the opposite.

In a way i agree with you. It may not even drop that low and if it does it won't stay there for very long. Might not even see $600.
And anything below this is a bit of wishful thinking on my part.

I'm not looking for short term profit either. I have money waiting on stamp, and i'm trying to get as many coins as possible for this money. More coins the better in the long term. So this is why i'm willing it to go down a bit more. Greed on my part, i'll admit, but not short term greed. I Just want more coins, cheaper prices means more coins.

Hpmmm.. just my own observations. Inciddenty, i have been expecting this since the beginning of the year. I think there is money sitting on the sidelines, and people seem to be waiting to see what happens in China on the 31st.
Market seemed to be kept artificially high by trading bots.. keeping it high in order to dump??
These are just some of the indicators i'm going by.
These and a healthy dose of wishful thinknig.

Anway.. looks to be rebounding now. Support at ~$776

+1

$495 - $550 on Stamp i reckon is the bottom.
Then quickly recover and climb to previous ATH within 2 weeks.. and keep going!
~$2000 by start of March!

I think this could take ~ 2 weeks to play out. 2 weeks from today is 7th Feb.
I'm finding it hard to be patient and wait til then to see what happens, but i must. Damn nearly bought at 800 last night.
I expect to see it botto out somewhere in the range $500 - $600 but only temporarily. It should recover quickly, so one would have to be fast to catch the bottom - or pick you price and place you orders, and hope for the best.

I think it's a waiting game, but at least we know it's only another week (or two) to wait. Not an indefinite wait. The market will give up clues as to what it'S decided and people will act. I personally would LOVE to see a dip to anywhere between $450 - $650.. i have been waiting.. but i like everone else will decide in early Feb, when the market does!

That's quite inspirational BitChick - and a reall good thing you're doing there. I've often thought about doing some development work myself.
I will make a msall BTC donation closer to the time and when you have it all organised and it's a 100% 'a-go'
I think you would get plenty of small donations from here. Great idea, and great to see someone giving something back.

As nice as it is to talk in these terms though, i feel we're derailing the thread.

I wondered if anyone has some TA insight into where we are now?

Most theories I've seen bandied around are predicting sideway trading. I myself was thinking along the lines of Rpietila's thoughts (that' why i liked this thread, his predictions were close to mine). But my faith in this has been shaken a little, as the market looks like it doesn't know what it wants, and also, i thought we'd be moving downwards a little quicker than this.
Also you've got low volume, yet we're not dropping, and seem to have support around 800-810 stamp.
To cloud the view even further, someone speculated that we could be in a 'ending diagonal' phase.

My own personal take on it all, is patience / wait and see. I think a lot of people are similar too. I'm waiting to see what effect China post Jan 31st will have.
My predictions might still come true after all, but maybe a lot slower than i thought. And with so much rumoured bullish news in the pipeline, we probably won't see the drop to ~$495 like i was initially expecting. So, between $500-600 (Stamp) is my buy-zone.

Not sure. I think it's what you would call market sentiment. Anyone clued up on bitcoin, or that has been following it for at least a while, knows that the China question is like the elephant in the room.
I think a lot of people, me included are hodling off to see how that plays out.

I agree that it is ridiculous that so much importance is given to China and what will/will not happen there.
For me, China is just one aspect of it. I wasn't convinced that the bubble pop had fully played out, and still expected up to re-visit ~$500 on stamp before rebounding and moving back up.
So, i'm taking a patient wait and see approach. It will be interesting to observe the market around 31st.. and the first week or so of Feb. I've got my fiat waiting on stamp to take advantage.

I would agree with this. If managed properly, and not just seen as 10 years of $100,000 p.a. - then it could set you up for life and you'd end up with more than the million you started with.
What about starting a small (but ambitious) buisness. What about investing some of that into property, to give guarenteed lasting returns? There are many approaches you could take. But to think that people would just deposit $1M in the bank account, and then draw it down until it was all gone without using it to better themselves in some way is misplaced i think.

I speculate that it might be (just might be) newegg... time will tell.

..And it's twice as tough at the bottom!

This taken from the french thing going on now? I'm at work, so can't exactly watch it. Glued to this thread for my updates.

Not quite yet hopefully! Waiting for my transfer through to Bearstamp.. hopefully there in the morning.

Lovin your work Arepo.. great thread. Posting here so it's bookmarked and i can keep an eye on it.

+1 - this was one catalyst for it.

Cool thread, I'm posting here for bookmarking purposes.

Thanks for that!

+1 - I'd like to see them as well.

Of course! Perhaps i should have added I only trade with around 15% - the rest is of course in cold storage, and I'm not even going to touch it (for a long time yet), no matter how tempting it may be to increase profits by upping the multiplyer. I'll hopefully make some smart trades and this will follow in course. 

Nice thread, enjoyed reading so far.
Glad I read it now, as it has re-enforced some of my own predictions/feelings on this past 'rally' - during which i did panic buy at ~$830
Sold now, as things are looking to be turning bearish IMO - and hope we see below 800 or 750.
Posting this so it is bookmarked for me.