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Author Topic: Where is the damn correction???  (Read 4208 times)
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February 12, 2013, 10:33:44 AM
 #21

There will be one, just a lot of people with fear of missing the boat that are buying now.

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kgo
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February 12, 2013, 01:14:30 PM
 #22

The growth so far appears linear.  Wait until we go parabolic.
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February 12, 2013, 01:50:49 PM
 #23

I do hope from time to time there are 60% retracements, so that BTC attract only true believers, speculators will definitely get shaked out by a 60% retracement and stay away

No, that will draw speculators like flies on shit.

It's easy to say than done, if price in a week dropped below $10, I'm sure the sentiment will totally be negative, you will see how many doomsayers there will be

Speculators can make money whether the price is going up or down.

Speculators mostly use TA, but none of TA can deal with a fast crash which break all the indicators in a very short time frame, either it is trend following based or momentum based/ swing trading. And from a risk management point of view, suddenly lose 60% of holding value is also not acceptable

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February 12, 2013, 01:56:59 PM
 #24

I do hope from time to time there are 60% retracements, so that BTC attract only true believers, speculators will definitely get shaked out by a 60% retracement and stay away

...

Speculators mostly use TA, but none of TA can deal with a fast crash which break all the indicators in a very short time frame, either it is trend following based or momentum based/ swing trading. And from a risk management point of view, suddenly lose 60% of holding value is also not acceptable

fast crashes occur less and less often as the market matures

this sentence has fifteen words, seventy-four letters, four commas, one hyphen, and a period.
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February 12, 2013, 01:57:36 PM
 #25

I have some "fiat" ready to buy me a new stack of BTC if THE price goes down ...
And will not sell my mined BTC before 2016 ...nomatter what ... Smiley

It is à worldwide system so only à small change will Give big effect to THE value ..

( Damn what would happen if let say Pokerstars  adopt BTC in to there payment system..)

Put your money were your mouth is…  NASH.io     #coinderdotcom
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February 12, 2013, 02:53:15 PM
 #26

Not sure if this image link will work, taken from my trading blog at http://afbitcoins.wordpress.com



As long as we stay within this channel we'll keep going up, if it looks like breaking down out the bottom at any stage then I think you'll get your correction.

There will be corrections, as soon as doubt starts creeping in with enough people who've just gone long plus people who want to take profits, could easily snowball. I think would be shortlived though. Ultimately I think we are starting another mania like the 2011 one, which will go a lot higher this time. Won't be the last mania either. Only in my humble opinino, but what the f do u i know?


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February 12, 2013, 03:10:16 PM
 #27

It happened already, it shot up to nearly $22, then corrected to $18. There would be another correction coming if it shoots up to $27.50

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February 12, 2013, 03:28:07 PM
 #28

So, bitpay receives 500,000 from investors and you think that they are the only ones receiving money here?
I'm sure those same investors invested another 500,000 OR way more in pure bit coin knowing that the BTC would move up... why wouldn't they?
Anyways, that's just a tiny piece of evidence, if you don't want to see what's obvious...

Entities investing $500K are not the same as the people who "have numbers to reach at the end of the month and profits to report". The former group of people are not constrained by any kind of pattern, so there is no reason to expect them to initiate a correction; some could be range traders, some could be long, etc. The latter usually prefer mature markets and don't get to experiment with pocket change; I don't see any evidence of such institutions having positions in BTC.
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February 12, 2013, 03:43:57 PM
 #29

This IS the correction! from the drop to $2

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February 12, 2013, 06:19:31 PM
 #30

I do hope from time to time there are 60% retracements, so that BTC attract only true believers, speculators will definitely get shaked out by a 60% retracement and stay away

...

Speculators mostly use TA, but none of TA can deal with a fast crash which break all the indicators in a very short time frame, either it is trend following based or momentum based/ swing trading. And from a risk management point of view, suddenly lose 60% of holding value is also not acceptable

fast crashes occur less and less often as the market matures

I think in electronic trading era, flash crash like those happened in stock market may 2010 will become a norm, unless exchange have some daily range limit

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February 12, 2013, 06:33:25 PM
 #31

JESUS GOD MAKE IT STOP!!

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
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February 12, 2013, 07:28:17 PM
 #32

It's coming...there is a whole lot of greed in the air around here



"Be greedy when others are fearful and fearful when others are greedy" -Warren Buffett



No kidding.  Just waiting for it to happen.  tick, tock.

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February 12, 2013, 08:05:34 PM
 #33

I think we touch $30 sometime this weekend, and drop back to $18-$20 range by Monday.

1YogAFA... (oh, nevermind)
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February 12, 2013, 08:20:49 PM
 #34

Speculations

Maybe there is just way more demand then supply.  .!,!.   
                                                                           

Put your money were your mouth is…  NASH.io     #coinderdotcom
Merralea
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February 12, 2013, 11:38:42 PM
 #35

Well, right now it's...awe, never mind.
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February 12, 2013, 11:42:09 PM
 #36

Well, right now it's...awe, never mind.
Lol, +1.  I saw the dip down below $25, and thought, "hmmm... that's not gonna last judging by the last few days"
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February 13, 2013, 01:38:28 AM
 #37

The growth so far appears linear.  Wait until we go parabolic.

+1, on a few month, log scale graphic, there is no bubble yet.. maybe if it goes to 40-50 too fast we'll see a bubble/correction, but not yet on my radar !
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February 13, 2013, 01:42:32 AM
 #38

Has anyone else noticed that if you check the Fast Cash for Bitcoins thread it appears that Tangible Cryptography isn't have any trouble at all finding people who want to sell bitcoins, but in spite of that downward pressure the price is still going up?
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February 13, 2013, 05:20:40 AM
 #39

No correction?



Did you see that skyrocketing, record-breaking volume daily red candle, in dollars? If that was not a correction, I don't know what is, and yet, it happened in the past month.

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February 13, 2013, 06:50:21 AM
 #40

Newtonian mechanics where are you!?!!?

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