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Newbie1022
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December 14, 2014, 06:04:13 AM |
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The market is really fascinating, right now. The Microsoft news broke the bear rally that was looking to get out of hand. However, the Microsoft counter-rally up to $360 was so weak tipping the bulls hand that they have run out of ammo. Yet, many are unwilling to sell en masse on this realization because the Microsoft news signals potential for greater adoption and, hence, is speculatively significant even if, in the short-term, the net effect is actually people using existing coins and unloading bags.
The new money just isn't there right now for it to rise and the bulls have shot their load or dropped out completely. But, people feel like BTC is on firmer speculative footing than it was a week ago. Something that might have more speculative value but has nobody crazy enough to speculate on it anymore. Now, one thought is... that's the perfect time to buy -- I understand that sentiment. But, on the other hand, the real value is the community/network effects and they've already been burnt too many times or had too much of their wealth cut from under them. It's weird. A reason for BTC to live while it is in the midst of taking its last breaths.
I think you have to short until the bulls show they have any fight left in them. Do so with a narrow stop, though, in case a big player enters the market and sees an opportunity.
Great summary. Story of pretty much the entire second half of 2014, maybe even continuing into 2015 (though I see it as a positive indication that overall volume is going up again). I think it is a fair summary. Everything except shorting with a narrow stop. Otherwise known as losing money  Oh, I just meant the bolded parts, about an unwillingness of the market to go in either direction. How to trade this stagnant situation is a different beast altogether. Trading this situation is, indeed, an entirely different beast altogether. I might have overstated how narrow my stops are... maybe not. I have a short (price at 380) that I lowered the stop price to 360 on. I can afford to lose those gains even if the price jumped past there on normal, noise volatility. I'm not, however, willing to have the price jump 100 points away on me and get burnt. Even though I don't see that latter contingency happening, speculatively it should (how many people may join through added exposure with Microsoft and others) and fundamentally (how many people are actually in the network) it shouldn't. I'm betting it's going down and if it does, I make a lot. If it doesn't, or there is enough false noise in the market then I lose a little. Either way, I enjoy my Christmas. |
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"Bitcoin: mining our own business since 2009" -- Pieter Wuille
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szmarco
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December 14, 2014, 06:21:18 AM |
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The price have a little rise now.
Because a meeting is opening in Sanya china.Some ex-officers of central bank and China bank have released some positive opinions about digital currency.
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Richy_T
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December 14, 2014, 06:58:18 AM |
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ChartBuddy
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December 14, 2014, 07:00:40 AM |
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fewcoins
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December 14, 2014, 07:53:47 AM |
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Officially getting killed more and more everyday. Stagnation is NOT good! |
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ChartBuddy
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December 14, 2014, 08:00:40 AM |
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NUFCrichard
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December 14, 2014, 08:44:30 AM |
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We have a nice little spike on google trends for bitcoin, not exactly to last years bubble levels, but a noticeable move up.
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Newbie1022
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December 14, 2014, 08:51:03 AM |
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We have a nice little spike on google trends for bitcoin, not exactly to last years bubble levels, but a noticeable move up.
From 21 to 23? Emphasis on "little spike." This is probably just noise. That said, it is certainly something to watch and it isn't bad news. We'll have to see if this develops into a trend. |
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ChartBuddy
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December 14, 2014, 09:00:40 AM |
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sherbyspark
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December 14, 2014, 09:31:07 AM |
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Officially getting killed more and more everyday. Stagnation is NOT good! Stagnation is good... Before almost every bull run there is a long dull sideward movement... It is definitely good, but sometimes after a lot of stagnation the prices tend to move down as well. Thats what happened after a week long stagnation at the 450 level. But would still be hard to predict the movement. |
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ChartBuddy
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December 14, 2014, 10:00:41 AM |
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ChartBuddy
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December 14, 2014, 11:00:40 AM |
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Newbie1022
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December 14, 2014, 11:05:27 AM |
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Who are our overlords going to squeeze, first? The longs or the shorts?
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pandacoin
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December 14, 2014, 11:19:15 AM |
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Officially getting killed more and more everyday. Stagnation is NOT good! Stagnation is good... Before almost every bull run there is a long dull sideward movement... It looks like Bitcoin is preparing for the 2015 spike. |
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Newbie1022
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December 14, 2014, 11:24:11 AM |
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Officially getting killed more and more everyday. Stagnation is NOT good! Stagnation is good... Before almost every bull run there is a long dull sideward movement... It looks like Bitcoin is preparing for the 2015 spike. Like ten people have said this so... why exactly isn't there more buying activity? I don't think the bulls are there anymore... at least not ones with money in their pockets. |
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ChartBuddy
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December 14, 2014, 12:00:44 PM |
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LFC_Bitcoin
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#1 VIP Crypto Casino
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December 14, 2014, 12:06:38 PM |
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Newbie1022
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December 14, 2014, 12:22:37 PM |
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I thought people were supposed to be buying new Bitcoins so that they could spend it on Microsoft products around Christmas time... and honestly, I'm making fun of Bitcoiners, right now, but even I expected some slight uptick in volume based on this. But ummm... doesn't appear that's happening anytime soon.
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NotLambchop
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December 14, 2014, 12:30:43 PM |
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I thought people were supposed to be buying new Bitcoins so that they could spend it on Microsoft products around Christmas time... and honestly, I'm making fun of Bitcoiners, right now, but even I expected some slight uptick in volume based on this. But ummm... doesn't appear that's happening anytime soon.
There's a thread where some sicko dreams about 9-year-olds hooking up with strangers on the interwebs, so that they could be groomed brainwashed and abducted into the Bitcoin cult molested, murdered, and left in a ditch buy Bitcoin  Sick people here.... |
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