Where is the damn correction???

[goxed]

Correction is happening now!

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[sounds]

Still a green candle yesterday.

[mccorvic]

It's already correcting...upwards 

Everyone read this again.

[Vladimir]

LOL this (and other threads) are so emotional.

The more emotions you have about this the more money you will lose (or not earn).

[RodeoX]

Not to burst any speculative bubbles, but perhaps the "correction" is a correction in the assumptions we have about bitcoin and it's economy?

[Vandroiy]

I have no idea what's taking it so long. Few large players doing strange things are the best I can think of -- apart from maniac trend followers.

I'm selling down to reserves and turning bear.

Whatever the market state: the sentiment on this forum, IRC, reddit, wherever I look is in bubble state. Just read all this... I mean... what the heck.

[Vladimir]

I do not know the future. But it went from 0.5$ to 30$ in 6-8 month run previously. For all we know history can repeat itself and it could  go from 10$ to 600$ or maybe only to 300$ or 100$ this time. On stock market a company of Bitcoin's age and with a similar revolutionary product and with already decent moat effect could easily command 1 billion market cap. There is no good reason for Bitcoin to not get to similar "market cap" level in 2013 and this would be 100$ "valuation".

Sure there will be "corrections". Question is how deep they will be and whether those who sold early will be able to catch up. Too many people wait for corrections to jump on. For all we know they might have to chase the market later and/or be left in the dust.

[BitCoinsLOL]

PED is the only explanation   

[humanitee]

Keep hoping, bears. It's pretty pathetic!

There's no pirate to save you this time, there's no Mt. Gox hack, there's nothing. There's ASICs which will further secure the network, allowing the capitalization to rise even further. There's bitcoin wireless, pizza for bitcoins, rumor of a large casino operation, wordpress, and countless other good things going on. We have exponential growth with a supply that has been halved!

I'm not expecting any sizable dumps until we pass the all time high.

[Chalkbot]

Plus I finally figured out how to explain bitcoins to friends and family;

Pizza Bux

They instantly get it.

[cypherdoc]

I do not know the future. But it went from 0.5$ to 30$ in 6-8 month run previously. For all we know history can repeat itself and it could  go from 10$ to 600$ or maybe only to 300$ or 100$ this time. On stock market a company of Bitcoin's age and with a similar revolutionary product and with already decent moat effect could easily command 1 billion market cap. There is no good reason for Bitcoin to not get to similar "market cap" level in 2013 and this would be 100$ "valuation".

Sure there will be "corrections". Question is how deep they will be and whether those who sold early will be able to catch up. Too many people wait for corrections to jump on. For all we know they might have to chase the market later and/or be left in the dust.

where's the pic of Adam chasing the train? 

[arepo]

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

also, some 'fast crashes' are recognizable because they occur when a regular correction becomes panic selling. i called this knife when i saw a bulltrap yesterday (see 'bubble or bulltrap')

[Vladimir]

looks more like a pigtrap than a bulltrap

[solex]

where's the pic of Adam chasing the train?  

Makes me laugh too :-)

[Luno]

Pig made $50 tonight