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A sudden movement in the direction of the dominant trend. I'm shocked.
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Thanks to the Chinese traders, we will all be able to short the market again in and day or so and much a ton of cash.
Unfortunately the pumps keep taking us less and less high up, so coming down is not as much fun.
However, I think these guys got at least one more good one in them.
Maybe we will see 2850 if we are lucky.
This is like a fractal where we keep hitting a lower low and then going back to 2850. We're on the 4th zoom-out of the fractal now at least. This incarnation should last several days and the termination of this one will be the final one when it hits the major log downtrend and we rocket down. |
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Wasn't the fate of mtgox being overseen by a judge now? When I see that a judge made a ruling, then I'll pay attention.
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I wish it was just 1 coin. This was my sure thing so I could stay at home with my daughter. I feel so stupid.  Never invest more than you can afford to lose. No such thing as a sure thing. Depending on how it is meant, this is a really stupid advice. Obviously it is a good idea not to invest money and thereby risk your short term liquidity. But when it comes to things like retirement, which you also can't afford to lose, how can you have money and not be invested? Name a single way to keep money safe and risk-free for 20 years! Diversification. Don't invest more than you can afford to lose into a single thing. Take me for example. I am a 'bear' around here yet 25% of my net worth is in bitcoin. Most people would consider a 25% investment into something to be ridiculous and foolish. I'm actually a bull but not enough to currently engage in being unreasonably leveraged into bitcoin. |
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Buy it back soon, or get left behind:  You can forgive yourself for losing a couple of thousands, but you will never forgive yourself for missing out on millions. We are in the eye of the storm. You can choose to sink or ride it out. Can you please post this chart again with current prices on it. |
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Goxcoin on the pump?
If only builder was still open, imagine the trading opportunities. |
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It's irrelevant to the pump, that's for sure I see 'lawyers and creditors have reached an agreement' - Are these really the people who had authority over the matter? |
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In order to enter the Ichimoku cloud you must first cleanse yourself, fast for three days and nights under an ancient tree while praying to the Great Bison and only then will you be worthy.
Did it ever occur to you that this market is small enough for experienced big money to manipulate it in such a way as to frighten the pants off techies like yourself? None of it matters. The price will go up as long as adoption increases. You can't break elementary math.
Sorry I just read the charts and not the fairy tales of what the 'big money' might be plotting. 'big money' can exist on both sides of the book. I have a choice of either engaging in this game of guessing like you are or I can use this form of science that traders have been using to trade profitably for decades. |
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No there is not going to be an ATH this year. We escaped from that type of trend a couple months ago. There may a large rally into the existing trading range, almost to ATH, but not a new ATH till the year after that.
You're very welcome to share the arguments/TAs supporting those claims. I'm genuinely interested. Weekly chart features RSI divergence, negative EMA cross, and imminent journey underneath the ichimoku cloud. None of these things have happened since 2011. Also, EW traders have used EW to show that the trend is over. Now look at a chart on any timeframe and look at the ugly arrangements of candles, specifically the downwards spikes which have immediate follow through spikes that go even lower but on lower volume - do these appear like charts that occur during a bull market? I have never seen anything like this, even in april 2013. I think there is a long journey ahead of us to get out of and then recover from this type of bear market. Last time there was a recovery from a downtrend on such large timescales, it took 2 bull runs just to recover back within the range to get to ATH. Then finally the 3rd bull run broke ATH. |
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despair phase
Do you realize you are referring to a chart that bitcoiners themselves disagree with. |
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if they sold 380,000 btc for 3m, that would be $12 each. - must be a portion, or Im missing out on some seriously 'cheap coins' Well it's unlikely that they will sell 380,000BTC for the full $173M they are worth. Someone will get cheap coins Bitcoins are fungible, so even if they don't get dumped on the market, other coins that would have otherwise gone to the purchasers of the seized coins will get dumped on the market. Mathematically it is irrelevant if the result is selling pressure or lack of buying pressure. There is a downward price effect on the market either way. +1 Same goes for 200,000 Gox BTCs to be liquidated. And US goverment has now more than 500,000 BTC ?!? 30+k from Silk Road, 130+ personal Ullbricht stash plus 385k from this new drug dealer? This. The amount of seized BTC that has to be auctioned and dumped on the market is so high... At least 400K (GOX+Silk+others), if not more, probably sold well under $250 for each coin, ready to be dumped on the market at any point. Truth is, even a relatively small 20K dump could totally crash BTC's value to $50/coin. I could literally wake up one day and see BTC's value drop 50%. This will kill BTC's long term value, seriously scary stuff In recent postings, you have become quite intense in your FUD spreading. Your above post is filled with many unfounded assumptions. Coins would have to be sold for much below market rate before there would be an incentive to dump. I do NOT see whey the GOVT would sell BTC below market rate unless there is some kind of collusion.. .for example selling to some big bank that wants to bring down the BTC market. I don't think that the government cares about or believes in a 'market rate' of bitcoin. The market is a manipulated game that we traders play against eachother and has meaning only to us. It is a very fragile illusion caused by hoarding and could not possibly withstand any signiifcant amount of selling. It would take a year to distribute all the those coins at market rate and doing so might cause a collapse and we're not even sure bitcoin will survive till then without some kind of technical glitch. The government is not a big bitcoin bull like you. The government does not want to speculate. What the government wants is cash, in their pocket, now. So if they can manage to sell all the coins and get a substantial amount of cash via large block trades under market rates offline, then they will do so and that would be great for them - a big success. They want a certainty, and a closed deal. I believe this is how the government operates will all kinds of seized assets, selling them at auctions for ridiculously low prices. |
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Always bet along the dominant trend.
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There might be another dip before May 10, you know may 10 is another china ban... But its a good time to accumulate if it hit about $400.
Do the prices usually go back up after bans in china? Should I buy some bitcoin on May 10 if it does drop significantly? May 10 is when btc will become unbanned in China and then on May 24, it will be banned again. |
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Flawed poll. Doesn't matter if they try, they won't succeed.
They can reduce demand enough so that it doesn't go to-da-moon anytime soon. That is not what kill implies. Sorry I changed the title of the poll to "try to kill" but neglected to change the thread title. |
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With a $50 investment, it is not even worth your time to think about this. What could you have been doing to make $50 just while you were writing this post?
Just think of like a lottery ticket. There is a chance your $50 investment could become worth $100,000 according to some people on this forum, and a chance that it could become $0.
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Flawed poll. Doesn't matter if they try, they won't succeed.
They can reduce demand enough so that it doesn't go to-da-moon anytime soon. |
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To clear any confusion, the "bounce" today was due to k8.com (Hyflux entertainment) buying about 40,000 BTC using international exchange
source? |
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This wave does seem a little 'stronger' and closer to the bottom than the previous one, because more volume is being done by USD exchanges in the upper channel of the downtrend than there was in the last wave. Someone is accumulating early, expecting the next bottom to be the final bottom.
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On what basis would they ban it?
This whole idea about some big bad US government trying to stifle everything is not accurate.
Our officials are still elected. And if they are perceived as anti-business, anti-start up, or anti-ingenuity and technological development - then they are not going to be elected.
There are enough people invested in bitcoin to make a HUGE stain on any administration that tried to destroy crypto-currency.
The US identity is innovation. Identity matters.
Only tin foil hat liberterains even come up with polls like this.
-I don't think the people inside the central banking system who call the shots are elected officials. -The elected officials are influenced by the central banking system. -Most of the general public doesn't give a rat's damn about bitcoin and it wouldn't influence their voting decision. -It would be taken out under the guise of terrorism or discovering some existing law in the financial code that it broke. |
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