Potential turning point in price chart events

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[BitPirate]

Agree. A lot of discussions along these lines already in the speculation sub-forum.

The demand for btc is very strong. The chain fork occurring right after an all-time high just provided a great opportunity for more to buy in.

$ is about to drop further. :-)

[ehoffman]

Yep, if the Cyprus news will get around the world, dollar will get a kick, or probably more for the Euro.  They Bitcoins may get a lot of big players jumping in 

[Vladimir]

It is classic mistake that most noobs in trading make and it usually fatal one for their account. For some inexplicable reason amateurs when looking to some market and chart are nearly always are looking for reversals as entry points.

They think that what came up must now come down and they in their infinite wisdom will buy at a bottom and exit at a top somehow. In reality markets are trending. Once a market embarks on a trend it keeps going often for many years. Yes there are pauses and retreats but while it is "bend but not break" it is all good.

It is a fallacy to look for a turning point to enter. One instead shall keep watching for turning point to exit.  Better yet one simply re-balances portfolio of uncorrelated assets from time to time.

Entrance is usually done at some pullback or a "bend but not break" event, just like what we have now. Then just sit on a long term trend if you was good enough to identify one and enjoy yourself.

But hey I do not expect anyone to take this simple thing seriously. Your loss.

[nwbitcoin]

This is a long shot, but what if there is no difference after the end of this week?

What if bitcoin is still at $48 and Cyprus is a burning mess?

What would that indicate? Would that even happen?

I am very aware that the size of the whole Bitcoin universe is so small that it might even be irrelevant at this time.


Just wondered if I was alone in that thought?

[BitPirate]

A few people have mentioned in other threads that they are constructing sell walls for the sole purpose of preventing a price hike. Whether this is di*k-waving or not, I don't know... but they think they are doing us all a favour by suppressing prices. I've seen a few attempted break-outs by the bulls. Eventually the capital in the sell walls will be gone.

At least it's easy to keep buying these days...

[samson]

A few people have mentioned in other threads that they are constructing sell walls for the sole purpose of preventing a price hike.

Which threads, there's so many new threads and posts it's hard to find the relevant information ?

[Vladimir]

Walls are irrelevant. Anyone who has been watching Bitcoin for a while knows that.

[ehoffman]

Yep, if the Cyprus news will get around the world, dollar will get a kick, or probably more for the Euro.  They Bitcoins may get a lot of big players jumping in 

Quoting myself    I have this to add!  Apparently Bitcoin apps are soaring in Spain!

http://bgr.com/2013/03/18/bitcoin-analysis-cyprus-crisis-382103/?utm_source=trending-widget&utm_medium=home

[justusranvier]

Then I saw the amount of people downloading the Bitcoin client on Sourceforge.

It's too soon to say the two are related, especially since an important upgrade was just announced today after a well-publicized issue with the old version.

[ehoffman]

Now I see the sell orders disappearing. Slowly but surely.

I noticed too.  Not a lot of transactions, but the wall is getting shorter 

[whitenight639]

When I first heard about the Cyprus incident I was skeptical that it would affect Bitcoin for a number of reasons.

Then I saw the amount of people downloading the Bitcoin client on Sourceforge.

Now I see the sell orders disappearing. Slowly but surely.

I can't predict the future, but I can see the present, and something is definitely happening right now and it is very exciting.

I think some of the download activity may be related to the upgrade thats available. and the sell orders in USD are getting eaten up I dont think this is the same for EUR but it will be interesting to see what happens. 

[Luno]

The government in Cypern have postponed the 6.75-9.9% tax decision so the Cypriotes might have a chance to get more of their money out Tuesday.

They have a 200EUR daily withdraw limit and no foreign transfers allowed. Internet banking transfers are also disabled.

[Atruk]

When I first heard about the Cyprus incident I was skeptical that it would affect Bitcoin for a number of reasons.

Then I saw the amount of people downloading the Bitcoin client on Sourceforge.

Now I see the sell orders disappearing. Slowly but surely.

I can't predict the future, but I can see the present, and something is definitely happening right now and it is very exciting.

Cyprus is rather big in offshore banking (or at least was). There are a lot of people who don't live in Cyprus who are looking for new places to store their assets.

[samson]

The government in Cypern have postponed the 6.75-9.9% tax decision so the Cypriotes might have a chance to get more of their money out Tuesday.

They have a 200EUR daily withdraw limit and no foreign transfers allowed. Internet banking transfers are also disabled.

If you live in Greece, Spain or Portugal you know what you need to do and you need to do it now.

Move your money somewhere safer and while you're doing it get some Bitcoin.

Things could start getting busy on Bitcoin Central.

[Luno]

The government in Cypern have postponed the 6.75-9.9% tax decision so the Cypriotes might have a chance to get more of their money out Tuesday.

They have a 200EUR daily withdraw limit and no foreign transfers allowed. Internet banking transfers are also disabled.

If you live in Greece, Spain or Portugal you know what you need to do and you need to do it now.

Move your money somewhere safer and while you're doing it get some Bitcoin.

Things could start getting busy on Bitcoin Central.

In effect, all Europeans are paying for this as the Dollar is gaining now against the Euro.

Apparently the Russian government is threatening to clear out their accounts in Cyprus, that might be the reason for the decision being postponed.

This can end with the Euro taking a serious hit as it undermines every bank in the Eurozone!

[2weiX]

- Banks in Cyprus are closed until and including Wednesday.
- Allegedly, Accounts under 20.000€ will be exempt from the tax.
- The PM just said that the parliament will likely reject the tax.

[Vladimir]

This can will end with the Euro taking a serious hit as it undermines has undermined every bank in the Eurozone!

FTFY

The horse has bolted. All the activity you see now is a bunch of clowns running around and locking doors of the stable. Too little too late. They have showed their hand and everyone with a brain now knows what are their true intentions for the mittelspiel. We had pretty good guess on this before, now we know for sure.

[samson]

I thought Italy was in the clear, apparently not.

http://www.infowars.com/banking-chief-calls-for-15-looting-of-italians-savings/

They originally wanted up to 40% from Cyprus according to this article. I don't know how reliable it is, I came across it somewhere, twitter I think.

So Cyprus, Greece, Portugal and Spain are the countries where people will be looking to move their money fast.

[jubalix]

This can will end with the Euro taking a serious hit as it undermines has undermined every bank in the Eurozone!

FTFY

The horse has bolted. All the activity you see now is a bunch of clowns running around and locking doors of the stable. Too little too late. They have showed their hand and everyone with a brain now knows what are their true intentions for the mittelspiel. We had pretty good guess on this before, now we know for sure.

This markets spooked
Euro devalued now
They have given the Tinfoil hats the hard evidence they needed
2 weeks ago it would have been scoffed at they would just take you money from the Bank
Not now