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January 23, 2014, 04:53:21 PM |
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A period of stability is justification for the previous growth. Its a self-corrective process that evaluates all the factors that make up the market, including manipulation. People are throwing out so many theories and explanations to why its correcting or whether its a form of manipulation. That is all too unnecessarily complicated and narrow minded, and by doing so you're missing the big picture. It's as simple as if the price deserves to be where its at, then it'll stay; if not, it will correct itself until it finds its stability. Thats it. No fancy TA or theories. However, thats under the assumption that the status quo stays the same. There was manipulation back then and it will still be there, so its irrelevant.
This doesn't mean its an end to volatility, but it will be less likely now that the market knows its range. As both price and time move away from this range, the less reliable it will be, which in that case the whole cycle starts again and reevaluates.
It's such a simple and straightforward concept, but because of the volatility we've seen, its hard to step back far enough to grasp that the market is not China or Houbi; its this forum, its every currency pair linked directly or indirectly, including alt coins. Hell thats still probably looking at it too narrow minded, its shit that humans don't and probably never will be able to understand. To put into perspective, if bitcoin was earth, then the market is the whole universe. Thinking in terms of the solar system or even the galaxy would be greatly underestimating it. Why bother trying to figure it out? Its a waste of time, let it do its shit and it'll return to the bitcoin world as we currently picture it as.
EDIT: For that universe analogy, thats assuming the universe is the all encompassing entity for all of existence. However, its the all encompassing entity that we humans have acknowledged. Mind=Self Blown
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