Are you telling me that one of the biggest exchanges losing their customers money didn't cause a reversal from a downtrend that was caused by the loss of demand in China? How can this be? :O This is impossible!  Sounds like you missed the rally and hope to get another crack. GTFO. The correction to $530 was because of China. Gox took us down to $400. These things can overlap. Yes, you are absolutely right. I'm angry because there won't be any volatility any longer in the crypto scene to make money at the expense of fools. So I just invented this so called "demand in China" and how it's loss caused a boring 2 month long dead cat bounce. But I'll try to correct my ways and listen to the TA wizards here who have skillz of drawing linez. China didn't have anything to do with the downtrend in February, and there is no reason to suppose demand in China is decreasing. The biggest issue with China recently was the uncertainty of what would happen on January 31st (which amounted to nothing); and all we did in January was fluctuate around $800 while worrying about the possibility of something on the 31st. February's downtrend was caused by uncertainty in mtgox and other exchanges, lies about the extent of transaction malleability, some finally mtgox's insolvency. Those issues have mostly been resolved at this point. I wouldn't wait for cheap (sub 600) coins anymore at this point. I think the downtrend is over, unless we get more seriously bad news, which is never unlikely in the bitcoin world. |
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I don't like this, alts were just plummeting and some great opportunities were on sight. This sucker might stop that too early  Where do you trade alts? |
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Litecoin and ltc/btc continue to drop. Today they dropped a lot more than I would expect given that bitcoin didn't really move much. Do any experienced traders see this as a bearish sign for bitcoin? Is it possible that people are losing confidence in the market and therefore are selling alt-cryptos first before selling their bitcoin?
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Any speculation as to why LTC/BTC and LTC/USD are going down a bit? Litecoin seems to be an even bigger bear market atm.
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If the volume stays this low for much longer, I think once the volume pics up and the market starts to move its going to be quick as bears and bulls question themselves.
Most people that are bullish right now are permabulls who won't question themselves until they panic sell. |
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If the market was rational, this would be extremely bearish.
the situation is extremely bearish prepare for a long and slow way down (similar to 2011) I remain bullish for the long term , but we will visit the low triple digits (maybe high double digits too) before we Choo Choo again currently I am @ 15% BTC 85% Fiat , and hodling even if we go down to zero YOU are too extremely bearish to be taken seriously..... sorry about that.. but if we go down.. we are LIKELY not going to go down below $450... and we may not even go below $500... current bitstamp price is about $570-ish... likely we will be going to the baby moon with the next week or two.. which is in the 750-850 range, and then within the next three to six months, we will be going to the $1500 ish arena... After MtGox hack in July 2011, there was a "424242.424242" transaction to prove MtGox solvency. Can't lookup details who asked for that prove and how exactly it was proven.
Unless properly designed, this "proof" could be made by thief himself.
AH HA!!!!!! The thief himself could be reading this thread>>>>> gocha!!!...... The thief himself may be in our midst... .. .or the thief himself may be drinking pina colatas in the bahamas...... No, you are too bullish to be taken seriously. We will not be hitting 750-850 in 2 weeks. |
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One of my observations over the past couple of months about you MatTheCat is that you think WAY too much and you are very seldom correct.
Are you fucking shitting me?  March 3rd is in like 2 days. Whilst there are signs of an inverse head and shoulders forming. Current volume momentum indicates a strong move down from here which would rather suggest that the inverse head n shoulders break out aint gonna happen. And even if a break were to occur, $850, taking out several major resistance points, in 2 days? Keep dreaming you damn bag holder. Matt is there a good book/textbook on beginner TA that you can suggest? You say you've been reading one haven't you? I'd like to really get into the TA thing, even though I find bitcoin price trends really dominated by news and bubbles which are caused by adoption in certain countries. |
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woah 3k sell wall now (BFX)
this is feeling like insider trading to me
Well we've already heard the worst about gox, so what kind of event would this insider be trading on? Could just be manipulation too, I'm not sure. I wouldn't put it past gox to make the situation worse tho. |
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woah 3k sell wall now (BFX)
this is feeling like insider trading to me
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Looks like willie is starting to dump on stamp. Or some very similar bot.
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Misleading Article. There is more volume on BTCChina because they lowered fees. The Chinese are not buying more bitcoin because of the gox problem. |
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in other side note, if some how Mark the MagicalTux does some magic and recover the key (assuming this is the case) how do you think this will effect the price:
1- confidence is recovered and the media start covering the positive turn of the whole situation and people start buying crazy, and the next boom ?
2- people who have accepted the fact that they lost their coins and magically got them back and dump them right away on exchanges and price goes down ?
I think the bitcoin builder buyers would be selling a lot of their coins for insane profit in that case; I don't think the other people who were just holding coins in mtgox would sell much. I'm not sure how smart most of them are holding coins in gox but I think they would move them off the exchange quickly at least. |
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"Well, d'uh, of course it was good news. The worst run exchange in the BTC ecoystem *finally* went down. That's what brought us to the new ATH of 6000."
I don't strongly agree or disagree with anything your saying except this. gox being gone is not going to lead us to $6000 per bitcoin, or really any rise in price, lol. Not one person invests in bitcoin because gox is gone. gox probably wouldn't stop anyone from investing in bitcoin until now. Maybe some people will celebrate by buying a little for the good occasion, but it is no reason to make the price go up. |
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Serious question: Would anyone use "GOX" if it was bought by a reputable company and re branded allowing limited customer withdrawals but with a guarantee that finds are safe. Then if they implemented full transparancy of user funds??
I absolutely would not, and I will make sure anyone I know does not either. |
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So lets assume Gox is insolvent to some degree and eventually pays out cents on the dollar to everyone.
It is believed they have lots of fiat in their accounts.
I also assume that if they have a limited number of BTC, people holding BTC in their account will probably be paid mostly in dollars for those BTC (What rate will they use, the closing $175... or the average of all exchanges)
A lot of this fiat will then be transferred to other exchanges and used to buy coins.
This is going to be the mother of all rallys, as 10's or 100's of millions of dollars moves to the other exchanges looking for coins.
Lol people lose 50%+ of their highly speculative investment and the first thing they do is throw more money into it. |
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Everything I see makes me believe that Gox will never recover and that the funds are most likely lost.Seems pretty bad..
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I went to sleep 30 pages ago. Is all that happened that mtgox stopped trading until further notice?
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Anyone else having problems with BTC-e deposits? I have 3 deposits of 65 BTC combines with 12 and 13 confirmations and still not credited to my account.
Hence the lack of arbitrage taking between exchanges and the reason I never fancied partaking. BTC-e is a pain in the ass and I don't trust them. I smell a possible bear trap. Wait and see.
U could be right. I am right now 55/45 on whether to close my latest short whilst it is still even/slightly ahead. I don't see any clear indications that the market will favour either direction from the indicators I use on Bitcoinwisdom. Prevailing sentiment must surely be overall negative, but that wouldn't prevent a revisit to $579 resistance level, which as leveraged short trades go, would be painful for me to take. I'm curious, did you start using Bitfinex again? I also closed my short at 552ish cause I usually wait to long, and I think people love to go on a rally no matter how bad it looks. |
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