I don't see any cheap coins yet, not even at Bitstamp.
Right, i expected this answer. Because this is the standard answer i get everytime when i ask that question. Bitcoin goes down, people here are extremely happy and scream about cheap coins, you ask them how much they bought, they tell you they're not buying yet. There has been a lot of good advice about the price around here lately. Rampion posted some good information. I was a bit behind him in picking up on it but once I did I posted till no tomorrow the charts and what I saw. I actually called it pretty damn accurately. I just wish I would have gotten out at $130 when I first suspected things and not at $107. Anyway, thanks to Rampion for making me look deeper. One has to separate their feelings here, at least to a degree. Anyway, going forward, we've mentioned the resistance levels. Low 90's first, but I would be very very careful there as the 100 barrier is broken and that is a big psychological thing. Next is around $82, roughly. Then I have $68, $60, low $50's, then $20's. But this isn't in stone. You have to watch the volume and see how the price is affecting things on the charts. I'm super bullish about BTC, like most of us here, but when we see the charts clearly saying down, don't fight the feeling... I'll sacrifice some profit (though BTC isn't really about that primarily for me), in order to be a bit more certain of getting in at the right time. All the fun is in LTC/XRP right now - anticipation of how high they will go. Not how low like in BTC... Hate this but true for the moment! Notice my post about LTC in this thread. I think it is a really valid question and I'd love to hear some responses. https://bitcointalk.org/index.php?topic=1493.2760Basically, do you want to invest in LTC while BTC is coming down and it seems LTC is more pegged to BTC than it is to the dollar? If today is any indication, then no, though it is a big down day... |
|
|
|
Well, not looking as bad as before, but clearly everyone is following Gox:  I have a feeling, at least on the Bitstamp chart, we touch near 90 and maybe 80 (maybe in the next few days to week - depending if we bounce). Watch the volume, candles and indicators and act accordingly.  |
|
|
|
I don't see any cheap coins yet, not even at Bitstamp.
Right, i expected this answer. Because this is the standard answer i get everytime when i ask that question. Bitcoin goes down, people here are extremely happy and scream about cheap coins, you ask them how much they bought, they tell you they're not buying yet. There has been a lot of good advice about the price around here lately. Rampion posted some good information. I was a bit behind him in picking up on it but once I did I posted till no tomorrow the charts and what I saw. I actually called it pretty damn accurately. I just wish I would have gotten out at $130 when I first suspected things and not at $107. Anyway, thanks to Rampion for making me look deeper. One has to separate their feelings here, at least to a degree. Anyway, going forward, we've mentioned the resistance levels. Low 90's first, but I would be very very careful there as the 100 barrier is broken and that is a big psychological thing. Next is around $82, roughly. Then I have $68, $60, low $50's, then $20's. But this isn't in stone. You have to watch the volume and see how the price is affecting things on the charts. I'm super bullish about BTC, like most of us here, but when we see the charts clearly saying down, don't fight the feeling... I'll sacrifice some profit (though BTC isn't really about that primarily for me), in order to be a bit more certain of getting in at the right time. |
|
|
|
24 Hour bottom, any guesses?
Me-$89
Around that, say $93. The larger support is around 82 though. Be careful at that 90 level, it can fall through it... Where do you see the larger support at 82? When searching for support I look for past areas that we "hung out" at or bounced off of or closed/opened at AND I really search for volume IF the times were short (e.g. large drop). So, 82 hits that mark. I stated what has been restated and it's worth saying again - be really careful of trying to catch a bounce as the bottom is probably not 82 (except short term, if that). |
|
|
|
24 Hour bottom, any guesses?
Me-$89
Around that, say $93. The larger support is around 82 though. Be careful at that 90 level, it can fall through it... |
|
|
|
WB 98 97 96.
Currently 1k of asks to get above 100..
Interesting.. for the sell that brought us from 98 to 96.2, it would take just as many coins sold now to bring us back there [~1.5k]
Bids filled in quick.
The asks take time to fill in. It is now up to 2400... |
|
|
|
 Bids are disappearing fast... Oh man, that is the worst it has looked in weeks. Knew they would pull those bids. Bluffers... |
|
|
|
No matter where you draw the lines on the symmetrical triangle (Those two big candles have long wicks), looks like it has broken to the downside on the 4 hour chart. Let's see how it plays out.  Great call dude.... |
|
|
|
|
Just a note, on Bitcoin.de the number of coins for sale is usually around 4000 or so. It is now at 5,500. I've never seen it so high...
|
|
|
|
I disagree. The Germans really like security, stability and such. They are on bitcoin.de and perhaps bitstamp... We could put a poll on the German forum. But don't mention my stereotype statement.  Believe me, the big money is where the big liquidity is, and that's MtGox. Certainly not bitcoin.de because that's not even an actual exchange. Anecdotically from people I know, I can speak for it being the case. Anyway, what are we even arguing about? Not like it makes any difference whether they are on MtGox or on Bitstamp. By the way, MtGox is probably the most trustworthy and secure exchange. And yes, I'm serious. http://lyle.smu.edu/~tylerm/fc13.pdfTrue regarding liquidity. I was thinking more about just purchasing and not trading. Bitcoin.de is a very interesting (albeit slow regarding buys and sells - 2 or 3 days) trading platform. It basically acts as an escrow service. They only hold the bitcoins and not the money. Money is transferred from buyer to seller (account to account). That right there gets around a lot of laws. Though I think they are in the process of getting their own bank. I would like to see this type of setup in the States. Again, it isn't for trading, but a great buying model. I agree MtGox is the most secure. |
|
|
|
While German news that Bitcoin can be cashed out after one year of holding (instead of paying 25% of taxes) is a bullish news for me, it could also mean that people that were thinking about sneaking out their early adopter coins now openly sell them via gox which would be bearish. Make of it what you want, for me it's definitely mid term bullish.
Most Germans have their BTC's in Germany or Europe, not on Gox. Most Germans perhaps, but most Bitcoins in german hands? I'd bet you'll find them on MtGox, if anywhere. I disagree. The Germans really like security, stability and such. They are on bitcoin.de and perhaps bitstamp... We could put a poll on the German forum. But don't mention my stereotype statement. |
|
|
|
|
S3052 - You stated on your twitter account that BTC is probably heading down and many agree. You also stated that LTC might be breaking out (actually already started I guess). But what happens to LTC if BTC breaks down? I say the ratio stays the same and LTC goes down with it. Isn't it a big chance getting in LTC now (should BTC go down)? I mean to get out you have to probably sell your LTC for BTC and then (maybe) send your BTC to another exchange to get back into FIAT (depending on the exchanges you use). That takes time and if BTC is falling hard, I don't know that we'd have the time and automated sells and transfers are not yet an option...
Also, the LTC breakout coincides with the GOX problem. I wonder if there is a connection. (e.g. - some bought BTC and then rolled them into LTC's elsewhere)...
|
|
|
|
You seem to be pretty resilient to logic, so I make it simple for you - and ask you again: And more hashing power is actually better for the network as a whole.
Why? You can leave out that condescending tone of yours if you want to discuss things in a civilized manner, it only makes you look bad. To answer your question: more combined hashing power strengthens the network and makes it less vulnerable to attacks. +1 and wouldn't it also lessen the effect of DDOS attacks? (If they can actually attack that portion of the Network)... |
|
|
|
While German news that Bitcoin can be cashed out after one year of holding (instead of paying 25% of taxes) is a bullish news for me, it could also mean that people that were thinking about sneaking out their early adopter coins now openly sell them via gox which would be bearish. Make of it what you want, for me it's definitely mid term bullish.
Most Germans have their BTC's in Germany or Europe, not on Gox. |
|
|
|
But as things get more decentralized we should slowly come out on top.
Decentralized? With all the ASICS the network is getting more and more centralized. ASICMiner alone currently holds 24% of the network hashing power! For the idea of Bitcoin it would have been best if only CPU mining would be possible. No GPUs. No ASICs. Seriously, the 51% attack thing is not on the top of the list of worries. And, it is a very abstract way of saying centralization, especially considering that those pools are made up of individuals and not really physical entities. And those individuals, mostly are behind BTC and not just making money from it. Before an attack happened, both the pool operators and participants would likely correct the situation. Worst case we can say, "Hey get the fork off here..." We have too many singular points of failure as it relates to funding mechanisms via the relatively few exchanges that exist. Once we start getting a more decentralized exchange system (literally), then it will become increasingly more difficult to take BTC down, minus making it illegal. And, if it starts to become a store of value while currencies fail around it, good luck to any government that tries - they would be attacked, if not for BTC then for what they let happen via the banksters. |
|
|
|
I predict a price explosion because of this news of exactly 0 dollar. I'll give you credit for the LOL. I am in Germany and in the past the German government did the same with stocks. Now it is at 25% for capital gains held more than 1 year. I agree with the other poster, they will change the law if they have to, but hopefully there is a grandfather clause going on. For some people that is a lot of money and could warrant changing residences for a couple of years.  |
|
|
|
In a few years, it probably isn't going to matter if you picked up more at $60 or $65, but will make a difference if you are patient and play your cards right on the way down...
IAS
10% is 10% now and in the future. Let Bitcoins value rise 1000 fold and you still lack those 10% you didnt catch at the beginning. Of course if you have so much money and can save 10% it will make a difference (in a literal sense). What I am saying is it is really really hard to first call a bottom, wait for the fall to happen and then it meet your bottom. Everybody has been saying $50 for the longest time. If you buy in to $50 along with a lot of other people, it will probably bounce off that level if your order isn't already in the books. And even then, depending on news and such, you might pull the trigger too soon. But yes, I'd love to have the extra 10%. If BTC's value rises 1000% (and I think it eventually does), a few more BTC's won't matter. You are sounding like a professional athlete who takes one teams 25 million dollar offer over the 24 million dollar offer (though they have the better team and it's his hometown). So, the team ends up losing for years, never makes the playoffs but you got that one extra house ;-) (OK, I forgot we are in the speculation forum)... |
|
|
|
No matter where you draw the lines on the symmetrical triangle (Those two big candles have long wicks), looks like it has broken to the downside on the 4 hour chart. Let's see how it plays out. |
|
|
|
|
It is anyone's "guess". But I studied the chart (and also incorporated some moves on the way up - which often correlated the move down) and came up with the following support levels:
low $90's
$82 ish
$68 ish
$60 ish
low $50's
$20's
(Think I covered most areas there!)
If and when we break to the downside, instead of paying attention so much to the numbers we are all throwing out, I would look at the volume and intraday charts for key levels.
Perhaps one should still use numbers we come up with and try to catch the bounce (I might). It will be very risky though.
In a few years, it probably isn't going to matter if you picked up more at $60 or $65, but will make a difference if you are patient and play your cards right on the way down...
IAS
|
|
|
|
Anyone think these circled patterns resemble (perhaps not exactly) symmetrical triangles on a falling price?
Not sure how accurate a 4hour chart is but I'd say we are about to break down a bit here...
yep! something will happen at the end of the triangle, but I don't think we can be 100% sure about a fall.. In the middle of your chart we can see also a triangle followed by a rise (between your 2d and 3d triangles) Yes, but there is one noticeable difference that I didn't get in the picture. The 3 that I circled were preceded by high volume, not the other one. (Actually, you can see a bit of the 3 tops I'm talking about). But I agree with you, we don't know... |
|
|
|
|
Show Posts
