China - Day 2

[Money Raccoon]

The sleeping bear is about to wake up to see the price is roughly the same as where it was when they went to sleep. With no added confidence in the market, if yesterday's trend repeats itself we could see massive trading volumes with some wild downward swings.

It could get very interesting.

[beaconpcguru]

I find this TA lacks something... substance for one..

[humanitee]

The sleeping bear is about to wake up to see the price is roughly the same as where it was when they went to sleep. With no added confidence in the market, if yesterday's trend repeats itself we could see massive trading volumes with some wild downward swings.

It could get very interesting.

Predicting the opposite. Either up or sideways. They have way higher volume and yet the price is 7% higher than Gox.

[jones31]

The sleeping bear is about to wake up to see the price is roughly the same as where it was when they went to sleep. With no added confidence in the market, if yesterday's trend repeats itself we could see massive trading volumes with some wild downward swings.

It could get very interesting.

Apart the fact that I find funny a Racoon talking about a Bear trading , why  do you think they won't be the ones bringing confidence to the table ?

[Beta-coiner1]

The sleeping bear is about to wake up to see the price is roughly the same as where it was when they went to sleep. With no added confidence in the market, if yesterday's trend repeats itself we could see massive trading volumes with some wild downward swings.

It could get very interesting.

Predicting the opposite. Either up or sideways. They have way higher volume and yet the price is 7% higher than Gox.

Agreed......


http://www.csmonitor.com/World/Asia-Pacific/2013/1206/Why-the-Chinese-can-t-get-enough-of-Bitcoin-despite-bank-ban

[Xer0]

China has 9:30 already and still dont gives a pandapoo...

[Money Raccoon]

Apart the fact that I find funny a Racoon talking about a Bear trading , why  do you think they won't be the ones bringing confidence to the table ?

Well, mainly because the largest bubble to have ever exist in bitcoin history, which was caused by China has clearly just burst. Throw in the recent news, panic selling, denial, etc, etc, it doesn't really appear to look positive short-term. Long-term however, well that's a different story.

[humanitee]

Apart the fact that I find funny a Racoon talking about a Bear trading , why  do you think they won't be the ones bringing confidence to the table ?

Well, mainly because the largest bubble to have ever exist in bitcoin history, which was caused by China has clearly just burst. Throw in the recent news, panic selling, denial, etc, etc, it doesn't really appear to look positive short-term. Long-term however, well that's a different story.

What are you even talking about? Recent news is bullish if anything.

[Money Raccoon]

Apart the fact that I find funny a Racoon talking about a Bear trading , why  do you think they won't be the ones bringing confidence to the table ?

Well, mainly because the largest bubble to have ever exist in bitcoin history, which was caused by China has clearly just burst. Throw in the recent news, panic selling, denial, etc, etc, it doesn't really appear to look positive short-term. Long-term however, well that's a different story.

What are you even talking about? Recent news is bullish if anything.

Explain

[humanitee]

Explain

I'd rather you go first.

[slakeco]

Apart the fact that I find funny a Racoon talking about a Bear trading , why  do you think they won't be the ones bringing confidence to the table ?

Well, mainly because the largest bubble to have ever exist in bitcoin history, which was caused by China has clearly just burst. Throw in the recent news, panic selling, denial, etc, etc, it doesn't really appear to look positive short-term. Long-term however, well that's a different story.

What are you even talking about? Recent news is bullish if anything.

Explain

start by reading this:
http://bitcoinmagazine.com/8778/bitcoin-chinas-new-special-economic-zone/

then use your imagination.

[Bitlend]

Firmer laws surrounding digital currency in the foreseeable future will be adopted, not just in China.

Its not necessarily a bad thing, it gives BTC some credit/legitimacy and as explained will not be adopted as part of the traditional banking service.

It was never intended to be anyway.

However, the market will react and my prediction is the BTC will drop to hit mid $400 USD in next 48 hours.

May be short lived, so perhaps a good time to buy a few.

[Money Raccoon]

start by reading this:
http://bitcoinmagazine.com/8778/bitcoin-chinas-new-special-economic-zone/

then use your imagination.

Ah yeah, I'm fully aware of the Chinese situation and I get what you're saying. No argument there but do you remember the April crash? It was caused by to many people logging on to Gox to trade in BTC. Not that was a bullish sign if ever I saw one!! For five days after that the price fell..

Firmer laws surrounding digital currency in the foreseeable future will be adopted, not just in China.

Its not necessarily a bad thing, it gives BTC some credit/legitimacy and as explained will not be adopted as part of the traditional banking service.

It was never intended to be anyway.

However, the market will react and my prediction is the BTC will drop to hit mid $400 USD in next 48 hours.

May be short lived, so perhaps a good time to buy a few.

I completely agree but I'm not as confident with your estimate. I hope you're correct thought