If you consider a bag held @ $623 then dude, you don't know what true bag holding is.

If true, then oh crap.  DanV is notorious for calling it wrong, lol.

When ppl like this start buying, you won't have to sell b/c bitcoin will be everywhere.  That guy will cave, buy and use btc just to not look dumb anymore.

Agreed. 

If someone had told me back at the end of Nov 2013 that we'd still be ~$600 in July of 2014, I'd have told them they were nuts.  <sigh>

Maybe he can gather the sand, bag it, and sell it to the rest of the world.  In the U.S. we buy bottles of water and bags of dirt, so it should be a hit.

Let's suppose that Wobber is one of 2-3 million people who own some bitcoin, and have some opinion about what the market will do in the next 6 months.  Yes, there is a high probability that one of those 2-3M people will have a fairly accurate prediction about what will happen.  Your only job then is to figure out if Wobber is that one person.

The next few days for bitcoin are critical^TM

 

Yeah, but look at that massive sell wall @630 on BTC-e.  Could be fake though.

It's not current all-in bitcoiners that cause a substantial rise.  It's the early quitters, the fence sitters, and the brand new panic buying newbies that outnumber existing bitcoiners by 10X factor that jump in at the 11th hour.  That's what causes a bubble.

I agree piramida.  I feel much safer sleeping in coins right now, than worrying about some silly dip that turns into a major bear trap right before takeoff.  You never know, takeoff could be months from now, or it literally could be tomorrow morning.

I think people that bought just after the bottom are much more skittish right now, than people who have been holding for the last 4+ months.

Another big tipoff for me to go all in?  All the bulls, the bears and the trolls disappeared from this board since the SR auction.  That leads me to believe that all 3 camps are ALL IN at this point, with nothing left to talk about!  

Yep.  I remember back not long ago when we were above $700.  Now that seems like eons ago... and so out of reach atm.

Sounds like the hacker stole 5 Million Nxt as well.  Ouch, glad I'm not into Nxt.

Fiat.  They don't really want to have to micro-manage their investments during their summer months, and have to pay the tax man.  Also, it would not surprise me if some of them took profits in April-May, and invested them into something else in the meantime to keep the return going.

But investors always return in the Fall.  They need to get their ROI pump in once more before the year end.  Watch the stock market, you'll see these same Spring-Fall patterns played out over and over again.

Whale Investors: "Sell in May and go away."

They won't come back until the Fall.

It's still the summer time, all the drones are still spending money on vacations, clubbing, gin n' tonics, and home beautification projects like landscaping.  

Wheee!  I'm a consumer, and I can spend money today!  Wheeee!  Look at me go!  I'll be no better off in 20 years, but I don't care!  Wheee!  Investing, what's investing??
 

Because the average Joe six-pack has no knowledge of how exponential growth works.  At all, period.  All they can see is what is happening today, and maybe tomorrow.  That's it.  Hell, most didn't even pass rudimentary math in high school.

Most people that knew of bitcoin 2-3 years ago had the same lack of knowledge and vision.  They never thought that bitcoin would get beyond $10, even in 5 years.  They weren't able to extrapolate shit.  So they didn't buy any.

Tim Draper didn't buy $27M worth of bitcoin, hoping it would be worth only $28M in 5-10 years.  Or even double at $54M.  If that is all the potential that bitcoin has, it would be the absolute worst investment of his entire VC career.

Wobber, you really need to quit trying to insult the intelligence of those who have bought bitcoin and understand exponential growth.  You're just making yourself look more like a fool.

Same here, absolutely love my 2006 Jetta GLI.  Still only has 92K miles.  Would buy another VW in a heartbeat.

That in bold above

Honestly if you don't see how it will rise, you haven't really researched the last 2 bubbles.  Whale investors suddenly appeared out of nowhere, and started seeding the market by buying up large amounts of btc.  High volume suddenly appeared in the market for no real reason.  With the sudden and pronounced price rise, then all the Joe Public fence sitters and panic buyers jumped in.  Then the media followed.  Then more panic buying. It's really that simple.  Then in hindsight, the media and the community wanted to come up with valid reasons for the bubbles (Oh it was Cyprus, Oh it was China, etc.).  After the bubble declined, these whale market makers completely left the scene.  I haven't seen evidence of them back in the market yet.

So the more interesting question to ask is, "What in the market conditions will make the whale investors think the time is right to suddenly appear out of nowhere, and start seeding the market again?"  My theory is that they simply look for a few key indicators that the market has reversed (like 1W MACD, etc.), extrapolate the growth of bitcoin awareness factor from the last bubble (by looking at bitcoinpulse metrics, etc.), and have some insider trading knowledge on major events that are coming up.  Then they use a combination of all this information to help 'engineer' a bubble.

A more important question the altcoin lover geeks never seem to ask themselves is, "Have you actually seen anyone in the public care about any of these so-called promising features?"  The point is, Joe Public truly doesn't care, and never will care.  They just want a simple, universal digital form of money that works simply. Like Bitcoin. They truly don't care about any "extra" features built into the protocol, it's not a selling feature to the public.

Interesting that the TradingView analysts were bullish when it seemed that bitcoin was on the verge of breaking up, and they could draw you all kinds of wonderful TA graphs with lines showing you that it would likely do that.  But when the bitcoin market doesn't do what they expect, they get confused, then get bearish, and then suddenly can draw you all kinds of wonderful TA graphs with lines showing you that it will likely break down.