Selloff!

[cloud9]

Is Bitcoin just hoarded? Didn't 1,173,487.14 Bitcoin changed hands in the last 30 days of the 6,472,000 in existence on MtGox exchange alone?  Didn't 103,665 Bitcoins on MtGox alone (www.mtgox.com - trade page) changed hands in the last day?  Have Bitcoin as a medium of exchange now been distributed among the masses?  Is this a good thing not to have such concentrated Bitcoin wealth?

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[triforcelink]

Don't you get it? we aren't going to "cash out." ever. Bitcoin is money. we're cashing out of FRNs.

It is this attitude which will allow bitcoin to become the success we are dreaming of!

[MacFall]

Hold on to your bits, gentlemen. It's going to be a bumpy ride.

But seriously, hold on to them.

[SgtSpike]

If you're looking at a 2 day or 3 day analysis of MTGOX/USD, I'd say yes we're in the later phases of an upward trend. 1-2-5 day ADX indicates a strong shift to a downward trend. In fact, the 2 day ADX shows a drop from 65~ ADX upward trend to 35~ ADX downward trend (and rising trend strength).

This is all fine and dandy if you're just looking for a quick buck.

If you switch to a 30day, 60, or 90day view though you'll notice that there is still a 70~ ADX positive trend with the +DI over 50 and the -DI next to 0.

Don't freak out folks. Keep growing bitcoin and shut your pie holes about 'where BTC/USD is going' until you know how to actually read some charts.

Just my ฿.02.

1Lhifrdmq563mZxY5gqYPEN5AdkN7Townd - For if this made you feel better about your investments Numbers do not lie!

Son, I don't understand a word you just said.

But, it's time to do some googling. 

[jhansen858]

I am personally hoping for a big sell of down to 10 or lower again.. I would like a 2nd opportunity to load up.

[Scientician!]

If you're looking at a 2 day or 3 day analysis of MTGOX/USD, I'd say yes we're in the later phases of an upward trend. 1-2-5 day ADX indicates a strong shift to a downward trend. In fact, the 2 day ADX shows a drop from 65~ ADX upward trend to 35~ ADX downward trend (and rising trend strength).

This is all fine and dandy if you're just looking for a quick buck.

If you switch to a 30day, 60, or 90day view though you'll notice that there is still a 70~ ADX positive trend with the +DI over 50 and the -DI next to 0.

Don't freak out folks. Keep growing bitcoin and shut your pie holes about 'where BTC/USD is going' until you know how to actually read some charts.

Just my ฿.02.

1Lhifrdmq563mZxY5gqYPEN5AdkN7Townd - For if this made you feel better about your investments Numbers do not lie!

I personally don't have much of a dog in this fight. Yet.

But I do probably represent BTC's target market pretty well (reasonably technical auto-didact looking for anonymous non-fiat holdings). The only thing holding me back from investing moderately heavily in terms of a direct USD exchange is the radioactive growth. Im not saying it can't go on like this forever, just that it probably wont, and if and or when that time approaches, there are many like me waiting for a more stable entry point. Just my฿.02

In the meantime, I'll keep on with my 1.5 Ghps.

[cuibono]

Lol, I thought this was funny.  One buyer standing alone again all the sellers.

Loolz  I could be me, i went out when the price was 31.89 and bid on 28.51

one hour ago:
You Bought 23.37 BTC for 28.5111!
You Bought 11.63 BTC for 28.5111!

[Ivanish]

If you're looking at a 2 day or 3 day analysis of MTGOX/USD, I'd say yes we're in the later phases of an upward trend. 1-2-5 day ADX indicates a strong shift to a downward trend. In fact, the 2 day ADX shows a drop from 65~ ADX upward trend to 35~ ADX downward trend (and rising trend strength).

This is all fine and dandy if you're just looking for a quick buck.

If you switch to a 30day, 60, or 90day view though you'll notice that there is still a 70~ ADX positive trend with the +DI over 50 and the -DI next to 0.

Don't freak out folks. Keep growing bitcoin and shut your pie holes about 'where BTC/USD is going' until you know how to actually read some charts.

Just my ฿.02.

1Lhifrdmq563mZxY5gqYPEN5AdkN7Townd - For if this made you feel better about your investments Numbers do not lie!

I personally don't have much of a dog in this fight. Yet.

But I do probably represent BTC's target market pretty well (reasonably technical auto-didact looking for anonymous non-fiat holdings). The only thing holding me back from investing moderately heavily in terms of a direct USD exchange is the radioactive growth. Im not saying it can't go on like this forever, just that it probably wont, and if and or when that time approaches, there are many like me waiting for a more stable entry point. Just my฿.02

In the meantime, I'll keep on with my 1.5 Ghps.

I hope to in the next few weeks, build a better set of online tools for miners/investors.

I need help to do it in a reasonable time frame, as I'm more of a front end developer than anything... but this community desperately needs better tools. Threads like this one are all the evidence I need for that presumption.

[Timo Y]

These conversations about the price of BTC are getting just about as interesting as conversations about the weather.

[NO_SLAVE]

Ivanish,

 technical indicators are concoctions of the past, and in this case are out the window entirely. Float, volitility, news etc etc, are making this mostly unreadable, although I did a "special" analysis last night that told me this was going to 32 within days, that target turned out to be today.

[Scientician!]

These conversations about the price of BTC are getting just about as interesting as conversations about the weather.

Then you either have a large amount of BTC that your never intend to part with any fraction of, or you hold 0 BTC and never intend to invest.

[darkwon]

Let it rain, Baby! 

I could talk about Bitcoin prices all day long.

[IIOII]

Let it rain, Baby! 

I could talk about Bitcoin prices all day long.

I think the talking will get less if the price drops...

(No, I'm bullish for BTC)

[Bit_Happy]

This is the time to buy!
{"ticker":{"high":31.9099,"low":19,"vol":105869,"buy":26.11,"sell":26.2,"last":26}}

[Insuremeplz]

Price dropping like a rock. 20% off high

[imperi]

I would buy right now... I wish I had more money in dwolla.

[Bit_Happy]

Dang....misses my entry point...

Here it is
{"ticker":{"high":31.9099,"low":19,"vol":106784,"buy":25.51,"sell":25.6,"last":25.522}}

[Ivanish]

Ivanish,

 technical indicators are concoctions of the past, and in this case are out the window entirely. Float, volitility, news etc etc, are making this mostly unreadable, although I did a "special" analysis last night that told me this was going to 32 within days, that target turned out to be today.

Correct, they are in the past. However, people will read into whatever they want to, and not necessarily always what they should.

My whole point though is that people need to stop looking at the 2-3-5-7 day patterns and start looking at the 30-60-90day patterns.

The quick bucks to be had will be nowhere as great as the longer term investments according to the 'concoctions of the past' that are technical indicators.

I think we'll see a down trend that will bring it back down below 25 in the next day or so (if not today). So there is opportunity for the 'day traders'.

However, I think we'll be seeing 30-35 again by the weekend regardless of volatility and 'whats in the news'.

[jhansen858]

There are 4 times as much selling as there is buying.  That signals a massive price drop in the next 24-48 hours.

The ratio up until this point has been at most 2:1 and in alot of the time, there has been a 2:1 in favor of the buyers.  If your going to cash out now is the time.  Other wise wait for the next bubble...

[Insuremeplz]

How long does it take for BTC to get from the client to MTGOX?