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Economy / Speculation / Re: I feel really bad for those selling into this rally....
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on: January 05, 2017, 04:49:26 PM
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When investing in tech that could bring the world into a new age for fail completely looking for 15% gains.. just.. why are you here lol.
If played correctly this will only result in the accumulation of BTC w/ no additional capital inflows. There's nothing wrong with it. |
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Economy / Speculation / Re: China selling.. America and others buying..?
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on: January 05, 2017, 04:36:37 PM
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Is this a transfer of bitcoins from the weak hands of the Chinese to the strong hands of everyone else..?
American exchange are now above the price of the Chinese, hasn't happened in a while. (Above the price as in if you convert on to the other it's selling higher on the American ones)
I believe so. Someone mentioned the Yuan strengthened last night, but I haven't had a chance yet to read int'l financial news. |
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16
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Economy / Speculation / Re: Bear Market Ahead?
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on: January 05, 2017, 04:00:40 PM
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Sometimes I think this forum is full of psychotics. China goes on some massive spending spree on fears of cap controls so BTC jumps from $800 to $1150 in ~2-3 weeks. On these events 49% think BTC is going to $10k and is jubilant, and then it corrects (partially) and the other 49% thinks the world is over. 1% are in both of those camps, and 1% is standing back trading the psychosis of the 99%. It's insanity.
In other news: China doesn't mind transferring their wealth to others via BTC. Horrible traders I must say... lol
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17
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Economy / Speculation / Re: Will Bitcoin Price Actually Drop?
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on: January 02, 2017, 07:53:00 PM
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Yes, I agree, as I said in my original post I was trying to explain how the situation now is different from this drop and is more stable.
I think the 600-800 range is stable. Beyond that there's high volatility and risk of being wiped out imo. |
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Economy / Speculation / Re: Bitcoin price cycles
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on: January 02, 2017, 07:12:46 PM
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I noticed we've had some crazy increases recently and just wanted to say that the two algorithms of my own here that I posted earlier in this thread have been thoroughly trashed now due to these recent price increases. Unless the market is heavily overbought, I have no way to use them or anything I've worked on to justify the present price. It's not uncommon to see some drastic volatility in Bitcoin, but even my estimates would have never predicted we'd see $1k or more this early. The scale of the increases is just too high for Bitcoin to be closing in on its all-time high this soon. Even my most accelerated version had us not hitting parity till after April of 2017. Unless there's a huge sell off or stagnation in price for the next four months, I'm not sure my algorithm will be anything close to legit.
That could be a good thing, maybe it means the price is going much higher much sooner, and it could mean hacknoid's 900 day cycles could be more accurate, even if they did kind of lag early on.
Good read: http://www.zerohedge.com/news/2017-01-02/bitcoin-surges-above-1000-china-unveils-new-capital-controls |
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