Current market conditions are scary

[Dump3er]

TA is what it is. Rpietila was dropping TA lines drawing 1 million dollars by now.

Ponzietila 

[ShetKid]

it could just be the calm before the storm, the problem is that everyone still compare current situation to the 1200 peak, that peak was just pure manipulation(willy bot ecc...) and a bit of luck

right now the price is low, because there are only whales playing with the market, no new money influx...

No one compares the price to the 1200 mark, everyone mostly compares to the 2014 stable price of 600 , and the drop which has happened since then.

I am rather surprised that after all the new merchant adoption and the increased popularity of bitcoin, the price has been falling.

[DieJohnny]

it could just be the calm before the storm, the problem is that everyone still compare current situation to the 1200 peak, that peak was just pure manipulation(willy bot ecc...) and a bit of luck

right now the price is low, because there are only whales playing with the market, no new money influx...

No one compares the price to the 1200 mark, everyone mostly compares to the 2014 stable price of 600 , and the drop which has happened since then.

I am rather surprised that after all the new merchant adoption and the increased popularity of bitcoin, the price has been falling.

It is surprising but it goes to show you just how much money 4 billion dollars actually is. I personally would think there should be no problem in BTC sustaining a multi billion dollar market cap, but that is clearly not the case. A billion is a thousand million and there just simply aren't that many people on this planet willing to gamble or use this cutting edge notion of a currency.

[ThatDGuy]

it could just be the calm before the storm, the problem is that everyone still compare current situation to the 1200 peak, that peak was just pure manipulation(willy bot ecc...) and a bit of luck

right now the price is low, because there are only whales playing with the market, no new money influx...

No one compares the price to the 1200 mark, everyone mostly compares to the 2014 stable price of 600 , and the drop which has happened since then.

I am rather surprised that after all the new merchant adoption and the increased popularity of bitcoin, the price has been falling.

I wouldn't even call 2014's $600 as stable - we went from $100 at the end of 2013 up to $1100 in the course of a few weeks driven almost entirely on speculation.  The ecosystem wasn't close to ready to support that sort of value and every bit of 2014's price action was the correction back down from that ATH.  At the time it appeared to be stable, but hindsight seems to paint a clearer picture.

2013 saw under $100m of VC investments, and then in 2014 that tripled to up over $300m.  Now in just a quarter of 2015 we've seen another $200m coming in.  It's not money that instantly translates to stronger ecosystem, but it definitely will in the future.  It's also money from people and groups who then have a vested interest in BTC's economy.  Their investments would perform better with a bigger market cap.

Anyone scared about the current market conditions should go back and read some threads from before the late 2013 run.  Read some threads after the $266 previous ATH and subsequent Gox and price crash - and even that wasn't close to 2012.

This price action now? This is Candyland in comparison.

[Wandererfromthenorth]

it could just be the calm before the storm, the problem is that everyone still compare current situation to the 1200 peak, that peak was just pure manipulation(willy bot ecc...) and a bit of luck

right now the price is low, because there are only whales playing with the market, no new money influx...

No one compares the price to the 1200 mark, everyone mostly compares to the 2014 stable price of 600 , and the drop which has happened since then.

I am rather surprised that after all the new merchant adoption and the increased popularity of bitcoin, the price has been falling.

I wouldn't even call 2014's $600 as stable - we went from $100 at the end of 2013 up to $1100 in the course of a few weeks driven almost entirely on speculation.  The ecosystem wasn't close to ready to support that sort of value and every bit of 2014's price action was the correction back down from that ATH.  At the time it appeared to be stable, but hindsight seems to paint a clearer picture.

2013 saw under $100m of VC investments, and then in 2014 that tripled to up over $300m.  Now in just a quarter of 2015 we've seen another $200m coming in.  It's not money that instantly translates to stronger ecosystem, but it definitely will in the future.  It's also money from people and groups who then have a vested interest in BTC's economy.  Their investments would perform better with a bigger market cap.

Anyone scared about the current market conditions should go back and read some threads from before the late 2013 run.  Read some threads after the $266 previous ATH and subsequent Gox and price crash - and even that wasn't close to 2012.

This price action now? This is Candyland in comparison.

But now price and marketcap are exponentially higher which means that exponentially more fresh fiat coming in everyday is needed to support current prices or to spark rallies like in the past.

Bid sum was clearly increasing (and was a lot higher) in 2013 at the end of the bear market and during the bubbles (I posted the mtgox bid sum all throughout 2013 in another thread). My first post shows that right now the opposite is happening. At least for now.

[Walsoraj]

Bid sum is the best indicator of incoming greater fools.

 

[ThatDGuy]

it could just be the calm before the storm, the problem is that everyone still compare current situation to the 1200 peak, that peak was just pure manipulation(willy bot ecc...) and a bit of luck

right now the price is low, because there are only whales playing with the market, no new money influx...

No one compares the price to the 1200 mark, everyone mostly compares to the 2014 stable price of 600 , and the drop which has happened since then.

I am rather surprised that after all the new merchant adoption and the increased popularity of bitcoin, the price has been falling.

I wouldn't even call 2014's $600 as stable - we went from $100 at the end of 2013 up to $1100 in the course of a few weeks driven almost entirely on speculation.  The ecosystem wasn't close to ready to support that sort of value and every bit of 2014's price action was the correction back down from that ATH.  At the time it appeared to be stable, but hindsight seems to paint a clearer picture.

2013 saw under $100m of VC investments, and then in 2014 that tripled to up over $300m.  Now in just a quarter of 2015 we've seen another $200m coming in.  It's not money that instantly translates to stronger ecosystem, but it definitely will in the future.  It's also money from people and groups who then have a vested interest in BTC's economy.  Their investments would perform better with a bigger market cap.

Anyone scared about the current market conditions should go back and read some threads from before the late 2013 run.  Read some threads after the $266 previous ATH and subsequent Gox and price crash - and even that wasn't close to 2012.

This price action now? This is Candyland in comparison.

But now price and marketcap are exponentially higher which means that exponentially more fresh fiat coming in everyday is needed to support current prices or to spark rallies like in the past.

Bid sum was clearly increasing (and was a lot higher) in 2013 at the end of the bear market and during the bubbles (I posted the mtgox bid sum all throughout 2013 in another thread). My first post shows that right now the opposite is happening. At least for now.

Er... "exponential"?  Saying that we need "exponentially" more fresh fiat to support the current price or spark rallies is 100% false - at least since 2012 when the last reward halving occurred.  Since that point there's been 3600 new BTC mined every day.  That means that the new money needed daily that had to come in during both the 30->260 and 100->1100 bubbles was the same.

As for the market cap, in October 2013 it was $2.5B.  Today it's ~$3.5B.  Again, this reflective of linear growth - not exponential.  We're looking at a total market cap that is ~17x just the amount of money that's been dumped into BTC VC in the first quarter of this year alone.  That's one major reason why this isn't as remotely as scary as 2013 was, even when it would have taken less fiat to drive the price higher.

[Wandererfromthenorth]

it could just be the calm before the storm, the problem is that everyone still compare current situation to the 1200 peak, that peak was just pure manipulation(willy bot ecc...) and a bit of luck

right now the price is low, because there are only whales playing with the market, no new money influx...

No one compares the price to the 1200 mark, everyone mostly compares to the 2014 stable price of 600 , and the drop which has happened since then.

I am rather surprised that after all the new merchant adoption and the increased popularity of bitcoin, the price has been falling.

I wouldn't even call 2014's $600 as stable - we went from $100 at the end of 2013 up to $1100 in the course of a few weeks driven almost entirely on speculation.  The ecosystem wasn't close to ready to support that sort of value and every bit of 2014's price action was the correction back down from that ATH.  At the time it appeared to be stable, but hindsight seems to paint a clearer picture.

2013 saw under $100m of VC investments, and then in 2014 that tripled to up over $300m.  Now in just a quarter of 2015 we've seen another $200m coming in.  It's not money that instantly translates to stronger ecosystem, but it definitely will in the future.  It's also money from people and groups who then have a vested interest in BTC's economy.  Their investments would perform better with a bigger market cap.

Anyone scared about the current market conditions should go back and read some threads from before the late 2013 run.  Read some threads after the $266 previous ATH and subsequent Gox and price crash - and even that wasn't close to 2012.

This price action now? This is Candyland in comparison.

But now price and marketcap are exponentially higher which means that exponentially more fresh fiat coming in everyday is needed to support current prices or to spark rallies like in the past.

Bid sum was clearly increasing (and was a lot higher) in 2013 at the end of the bear market and during the bubbles (I posted the mtgox bid sum all throughout 2013 in another thread). My first post shows that right now the opposite is happening. At least for now.

Er... "exponential"?  Saying that we need "exponentially" more fresh fiat to support the current price or spark rallies is 100% false - at least since 2012 when the last reward halving occurred.  Since that point there's been 3600 new BTC mined every day.  That means that the new money needed daily that had to come in during both the 30->260 and 100->1100 bubbles was the same.

As for the market cap, in October 2013 it was $2.5B.  Today it's ~$3.5B.  Again, this reflective of linear growth - not exponential.  We're looking at a total market cap that is ~17x just the amount of money that's been dumped into BTC VC in the first quarter of this year alone.  That's one major reason why this isn't as remotely as scary as 2013 was, even when it would have taken less fiat to drive the price higher.

No.

3600 BTC when price is at $10   ---> $36'000 USD
3600 BTC when price is at $1000 ---> $3.6M USD
etc.

[keystroke]

Patience my fellow bitcoiners. Even I don't like this but we still have a yearly inflation rate of 9.4% once we hit 14m coins next week. Only the mid-2016 halving will bring this downward pressure to an end. The inflation schedule is under appreciated by the public but the distribution mechanism is in full effect as volatility disperses coins. Even the protocol is in a fight at the moment as we have yet to remove the 1MB cap. The fight continues in bitcoin land.

[Q7]

Whatever happens, there's always good and bad. I believe bitcoin will never catapult upwards as long as it haven't really found the bottom level. And if it needs to then let it be. I'm preparing to buy at every single dip and I mean getting at a bargain price. Similarly if it just continue to rise and rise, then there shouldn't be any problem here.

[Morecoin Freeman]

I think the beginning of next week might be interesting. I can see a dump to lower 200's / high 100's happening.

[afbitcoins]

Current market conditions are scary = time to buy

[sgbett]

WFN find everything scary. Even when he was bullish he never really believed it

Me on the other hand. I'm terrified, but still buying like a fully committed bag holder!