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speaking of Elton John, lets hear 'Rocket man'
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and the 12 hour chart is just BEAUTIFUL
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with 4 hr MACD turnning green, short term break of trend in a very weak bear market, and a bounce near critical trend defining lows, I must continue to assume a bullish stand point   |
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The bulls always put on the better show in this market.  lower low DENIED |
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I just bet on black and won 5 times in a row. That means it will happen a 6th time for sure.
This never makes any sense though, Bitcoin price going up or down is not a 50-50 bet. You would wager that with increased adoption and services, as well as infrastructure and vc investment your odds are way better than 50-50. Not a gurantee but more likely than not, no? The odds distribution is not the point - it's the use of patterns. Adoption is a potentially valid argument for an increase, but the increases in the past are not. I should have found a better analogy. it makes sense to me that bitcoin is simply facing the test of time. I do believe it will have a binary outcome. if it is successful, it will have a disgustingly large market cap. but this simply cannot happen over night for too many reasons. is it really surprising that small speculators like ourselves can effortlessly ride the waves of an evidently succeeding global and historical phenomena? |
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lol, yes. Smart investing isn't about rising your bids because someone else seems to want them also. You calculate a number that is right for you and you stick with it. Smart investors aren't these crazed coin hungry fools that you see on this forum  The point is that bitcoin currently isn't an attractive opportunity. It's a high-risk low-reward investment, so it's a no-no to anyone who has experience with investments. If someone would decide to roll the dice and buy in, then it would be way below market price to make the risk worth while. what? we have some fundamental disagreements there. you are wrong. bidding happens. it is a necessity of the market. if the coins are auctioned, investors will bid for them. fact. those investors will know that they will have no easier way to buy 200k coins without slippage ever again. |
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so you are a large investor, and you want 200k bitcoins.
why? sorry you lost me here. no, you are not a large investor. large investors are forward looking. Do you know what's investment actually means? "In finance, investment is putting money into an asset with the expectation of capital appreciation, dividends, and/or interest earnings. This may or may not be backed by research and analysis. Most or all forms of investment involve some form of risk, such as investment in equities, property, and even fixed interest securities which are subject, among other things, to inflation risk. It is indispensable for project investors to identify and manage the risks related to the investment." |
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so you are a large investor, and you want 200k bitcoins.
why? sorry you lost me here. no, you are not a large investor. large investors are forward looking. |
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Why would the mtgox news cause a price increase? It's basically the worst possible outcome - mtgox isn't coming back and 200,000 coins are being liquidated into cash.
Check out the thread I started in Bitcoin Discussion, apparently it should have no effect at all and in fact should cause an increase in price due to people receiving their compensation and buying BTC with it... +1-1=0 what is really exciting about the liquidation is that some big investors that are not confident dealing with unregulated exchanges might bid the price higher than market (if coins are auctioned). that would be HUGE and speculators would have a field day. It would be extremely smart to buy 200k coins over the market price, during an downward trend and while there is no information whatsoever about the fate of the remaining 600k missing coins. I think that somekind of an award should be given for this investment decision. yeah it would, just you try buying 200k coins at market price....... (not gonna happen) keep in mind that large investor money is not on the exchanges because they cannot be trusted. You wouldn't buy something over the market price, that's value is dropping and there is no certainty about the future. It would be an very bad investment decision. I strongly agree with the last part! But remember that the exchanges are also giving monetary value to bitcoin. Without the exchanges, bitcoin wouldn't have value and would just be a fun play money. And if the exchanges can't be trusted, then the value of bitcoin can't be trusted. That is why the price is dropping, because of the loss of trust from the general public, and people don't want to buy something that is very fragile in keeping value. The 600k missing goxcoins + all the coins from the past that have been stolen or scammed, are making bitcoin an very dangerous investment. There is always a possibility in the air that the price could drop to single digits or less in a matter of hours, and there is no way of managing this risk. so you are a large investor, and you want 200k bitcoins. somebody else bids $500 at market price. are you going to let those coins get away? or that's ok, just place a 200k buy order at bitstamp @500? if somebody else bids market price for those coins, chances are that's the last shot you will EVER have at buying 200k coins. maybe you should bid $550. |
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Here is another possible count. the B wave wedge calls for a terminal C wave, and the A - C wave demonstrate divergance. Bears are getting cocky at the moment I think they might get a surprise will see.  |
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Turning a bad news into a good one, defending your position..nice try  what bad news  huobi thinks it's GREAT news. |
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Why would the mtgox news cause a price increase? It's basically the worst possible outcome - mtgox isn't coming back and 200,000 coins are being liquidated into cash.
Check out the thread I started in Bitcoin Discussion, apparently it should have no effect at all and in fact should cause an increase in price due to people receiving their compensation and buying BTC with it... +1-1=0 what is really exciting about the liquidation is that some big investors that are not confident dealing with unregulated exchanges might bid the price higher than market (if coins are auctioned). that would be HUGE and speculators would have a field day. It would be extremely smart to buy 200k coins over the market price, during an downward trend and while there is no information whatsoever about the fate of the remaining 600k missing coins. I think that somekind of an award should be given for this investment decision. yeah it would, just you try buying 200k coins at market price....... (not gonna happen) keep in mind that large investor money is not on the exchanges because they cannot be trusted. |
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Why would the mtgox news cause a price increase? It's basically the worst possible outcome - mtgox isn't coming back and 200,000 coins are being liquidated into cash.
Check out the thread I started in Bitcoin Discussion, apparently it should have no effect at all and in fact should cause an increase in price due to people receiving their compensation and buying BTC with it... +1-1=0 what is really exciting about the liquidation is that some big investors that are not confident dealing with unregulated exchanges might bid the price higher than market (if coins are auctioned). that would be HUGE and speculators would have a field day. |
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Thanks RyNinDaCleM, very interesting chart. the price action is interesting at these levels. weak to both sides, but showing support. I dont see this doing anything much without a drive, hopefully we will get some news in the NY session to catalyse the situation.
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Thanks  nice chart. |
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What is CCMF?
crypto currency moon forecasting well I thought it was Choo choo mother fracker but that is just genius. ^^ |
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RyNinDaCleM, can you please comment on the descending wedge illustrated above? Im not 100% on the rules/guidelines with that.
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No, thank you, I sold at 800 and recently at 550.
even if the price in fact reached 550 recently, that would not be a convincing tale. perhaps try 540? |
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bears be weak... just need a light breeze to take us up to 520
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