Perhaps let me add some technical evidence:
Daily RSI confirms the turn down at 6.2 by a lower high. We still haven’t seen it above 60 ever since the Bitcoinica crash
Daily MACD is bouncing off and about to return to negative territory after a false bounce off ~0.
30d SMA (the famous Nagle chart) was 6.2, where it stopped rallying.
Sentiment is altered ever since the Bitcoinica 4.64 low. There may be other factors like the (political) issues around BIP 16.
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I have had an interesting thought lately. What if November to January was a brief correction from the 6 months long bear market which is over now?
If we assume the top is 7.22 and there is again a months long 94% "consolidation", the low would turn out to be 0.45 USD.
Food for thought.
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Ich denke, dass meine These eines erneuten Bärenmarkts in Form mehrerer Monate noch aufgehen könnte, sodass November bis Anfang Januar nur eine kurzzeitige Unterbrechung dessen war. Der Markt ist seit dem von Bitcoinica verursachten 4,64-Tief in seinem Wesen verändert. Wenn es wieder so extrem kommt, wäre es 94% Wertverlust, 7,2*0,0625=0,45 USD Nur mal als Gedankenspiel.
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Leo: Do you still predict a move to 6.3 and 6.9?
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Bitcoinica long squeeze will come, but from higher.
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lalalala
almost time for another 'i love being right' thread.
called the bottom, AND the rocket... buckle up [ :
Not bad, now try the top.
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I TOLD YOU GUYS
I TOLD YOU TO TAKE YOUR BITCOIN PROFITS
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Look at http://bitcoincharts.com/charts/mtgoxUSD#rg150zigWeeklyztgSzm1g10zm2g25zxzi1gVolzcvDon’t you think there will likely be a multiple of the peak volume days sitting on MtGox? Most funds have either left Gox during the pessimist times last year, or should at least partially have been used to buy when the trend was pointing up again Hm, point taken. Hopefully we will find out and see how incredibly far I’m probably off.
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https://mtgox.com/press_release_20120201.htmlp. 11-14 relevant to us. MtGox has ~1 million Bitcoins according to Mark, so now all we have to do is make guesses for the total USD side based on deposit/withdrawal and market volumes to estimate a possible over- or undervaluation. Also keep in mind that technically, there exist 8.2 million BTC. Anyone who can provide how many of them didn’t move for a very long period? -- My guess is 30 million USD total on MtGox. This is nothing in the financial world and it is likely more than most people would have imagined, therefore I am bullish. Bitcoin has been severely undervalued in the ride down from June and this will now be corrected.
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Is it true, did you spot the * again?!
I’ve only seen it a few days ago when the price was 5.6.
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Did you forget a 0 at page 14 for USD? 383,00 (as in 383 USD) is weird, because it seems too low and I think it is used as a seperator? Do you intend to manipulate a rally with faulty information?
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Females will start being more "into" Bitcoin, when they are worth a bit more lol.
Just because they like handbags you want them to hold the bag for you?
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Gewure: you get pissed by bearish threads because you have a long position So what’s your position and why do you hold it?
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I really think the core dev team should decide how to go on (majority vote). It’s none of our business, we don’t code it and barely superficially understand it.
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i would vote to follow Gavin's lead.
+1000 I trust our benevolent dictator.
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Sure, let’s just wait with multisig until Bitcoin is deserted because normal people keep having their Bitcoins stolen by malware and therefore simply shouldn’t use Bitcoin, but rather stay with PayPal and online banking. Remember what happened in summer? Why do you think did people store their Bitcoins with MtGox or Mybitcoin.com? The ability to not have your money stolen is not important at all when it comes to a new, hardly accepted currency, really. We have time. Let’s implement it in a few months.
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No, what I’m saying is the buying happened AFTER the bot put up some big bids. It was definitely a bot because a) the bids were of the same size and b) the order book transformed within minutes, it was over 53k to $5 at the peak. Now it’s back to "normal". What I do not get is WTF happened thereafter. Bids withdrawn and someone sold into it? Maybe this is an attempt to get the Bitcoinica longs to leverage up more?
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The upwards pressure was initiated buy a bot putting up bigger, evenly sized bit near the market price. The bids then vanished after there was some buying.
Maybe it’s one bot trying to create VOLATILITY so it can profit?
Or it’s two fighting bots. I don’t know.
ONE THING I know for sure, though. This was manipulation, not normal market behaviour.
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Would someone explain for stupids what exactly "the bot" is doing? I don’t get it, it seems like bears and bulls trying to manipulate each other. Maybe first I will say what I saw. I saw the order book increase very quickly and some bigger orders near the market price pop up. Then, people bought up a bit and the buy orders vanished. I also saw similar stuff on the ask side.
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