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humanitee
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November 19, 2013, 01:19:39 PM |
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Surprised people are selling.
It seems to me that all the craziness of yesterday was fueled only by money already on the exchanges (excluding China). The hearing didn't end til ~6 PM EST so no one could transfer to the exchanges.
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seleme
Legendary
 Offline
Activity: 2772
Merit: 1028
Duelbits.com
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November 19, 2013, 01:20:32 PM |
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Who's got the lowest buy order?? I've got mine at $150
Haha, You just keep on waiting till forever boy. He who fails to prepare, prepares to fail! Having low orders is always good thing, made most of my BTC in last month or so with that. Though on altcoin market, I don't trade btc vs usd. |
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seleme
Legendary
Offline
Activity: 2772
Merit: 1028
Duelbits.com
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November 19, 2013, 01:22:01 PM |
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I might as well double my pre rally Bitcoins if it drops as I bought lot of bottom MCXNow shares but I still can't see it.
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San1ty
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November 19, 2013, 01:23:45 PM |
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I think the excitement is done for today :-(. Looks like one more shakeout and then...
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DougTanner
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November 19, 2013, 01:24:40 PM |
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I think I see a triangle forming with a target of $600 at Gox. Unless the west coast panic sells when it wakes up that might be where we stabilize for the day.  |
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BitPirate
Full Member
Offline
Activity: 238
Merit: 100
RMBTB.com: The secure BTC:CNY exchange. 0% fee!
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November 19, 2013, 01:25:01 PM |
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There still will be moments like this but I don't understand people who are keen to forget that we are in extremely bullish market and scream 250 moment some sales happens.
The US fucking government publicly gave the green light to Bitcoin and that went mainstream. It's buuuuuliiiiish, stop your feelings and positions making your judgements wrong. I was bearish at 350 and thought it will drop any moment but turned up 180% when I realized I am wrong.
I think you are forgetting that we've only been above 266 for 3 short weeks. Just like some are forgetting that we're only like 15 hours from most bullish news for Bitcoin ever. The only thing I'm afraid off are new Bitcoiners and unexperienced traders panicking but I hope they haven't bought enough for that. Shit is possible with Bitcoin but if this moment turns to bear market than I don't know... This was all already priced in by the time the hearing started. *never* buy on news. Remember all the good news we had in April too? Actually the FinCEN guidance was largely viewed as bullish when it was released too, accompanied by relatively positive talks by government officials. But it was manipulated to fit the bear narrative. This government approach is nothing new. The truth is, we rose too fast. Still way up week on week. Medium term, we can't rise at this pace, and need to correct. We have a fair way down to go yet. |
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seleme
Legendary
Offline
Activity: 2772
Merit: 1028
Duelbits.com
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November 19, 2013, 01:25:57 PM |
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Stabilizing around $600 would be great thing. I'd have much more coins if it drops but I just got used on high BTC, there would be chance to profit on it.
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San1ty
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November 19, 2013, 01:26:16 PM |
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There still will be moments like this but I don't understand people who are keen to forget that we are in extremely bullish market and scream 250 moment some sales happens.
The US fucking government publicly gave the green light to Bitcoin and that went mainstream. It's buuuuuliiiiish, stop your feelings and positions making your judgements wrong. I was bearish at 350 and thought it will drop any moment but turned up 180% when I realized I am wrong.
I think you are forgetting that we've only been above 266 for 3 short weeks. Just like some are forgetting that we're only like 15 hours from most bullish news for Bitcoin ever. The only thing I'm afraid off are new Bitcoiners and unexperienced traders panicking but I hope they haven't bought enough for that. Shit is possible with Bitcoin but if this moment turns to bear market than I don't know... This was all already priced in by the time the hearing started. *never* buy on news. Remember all the good news we had in April too? Actually the FinCAN guidance was largely viewed as bullish when it was released too, accompanied by relatively bullish talks by government officials. But it was manipulated to fit the bear narrative. This government approach is nothing new. The truth is, we rose too fast. Still way up week on week. Medium term, we can't rise at this pace, and need to correct. We have a fair way down to go yet. Hey this is one of the few smart posts I see around here. Totally spot on with things being priced in all the time. |
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mmitech
Legendary
Offline
Activity: 1148
Merit: 1001
things you own end up owning you
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November 19, 2013, 01:26:45 PM |
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my explanation for what is happening is :
- early adopters want to cash out at a sweet spot which is now
- so many new comers who still didn't get used to volatility of Bitcoin and panic sell and buy.
- new big players trying to manipulate the market for a sweet buy spot
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seleme
Legendary
Offline
Activity: 2772
Merit: 1028
Duelbits.com
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November 19, 2013, 01:27:22 PM |
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There still will be moments like this but I don't understand people who are keen to forget that we are in extremely bullish market and scream 250 moment some sales happens.
The US fucking government publicly gave the green light to Bitcoin and that went mainstream. It's buuuuuliiiiish, stop your feelings and positions making your judgements wrong. I was bearish at 350 and thought it will drop any moment but turned up 180% when I realized I am wrong.
I think you are forgetting that we've only been above 266 for 3 short weeks. Just like some are forgetting that we're only like 15 hours from most bullish news for Bitcoin ever. The only thing I'm afraid off are new Bitcoiners and unexperienced traders panicking but I hope they haven't bought enough for that. Shit is possible with Bitcoin but if this moment turns to bear market than I don't know... This was all already priced in by the time the hearing started. *never* buy on news. Remember all the good news we had in April too? Actually the FinCEN guidance was largely viewed as bullish when it was released too, accompanied by relatively positive talks by government officials. But it was manipulated to fit the bear narrative. This government approach is nothing new. The truth is, we rose too fast. Still way up week on week. Medium term, we can't rise at this pace, and need to correct. We have a fair way down to go yet. We did rose too fast, that's absolutely correct. I did expect 1000 to be attacked after 900 failed but correction was way over due. |
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Boxman90
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November 19, 2013, 01:27:36 PM |
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I think I see a triangle forming with a target of $600 at Gox.
Well there was a triangle forming earlier around 750, but that one turned into a limp dick. |
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gizmoh
Legendary
Offline
Activity: 1428
Merit: 1000
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November 19, 2013, 01:28:06 PM |
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There still will be moments like this but I don't understand people who are keen to forget that we are in extremely bullish market and scream 250 moment some sales happens.
The US fucking government publicly gave the green light to Bitcoin and that went mainstream. It's buuuuuliiiiish, stop your feelings and positions making your judgements wrong. I was bearish at 350 and thought it will drop any moment but turned up 180% when I realized I am wrong.
I think you are forgetting that we've only been above 266 for 3 short weeks. Just like some are forgetting that we're only like 15 hours from most bullish news for Bitcoin ever. The only thing I'm afraid off are new Bitcoiners and unexperienced traders panicking but I hope they haven't bought enough for that. Shit is possible with Bitcoin but if this moment turns to bear market than I don't know... This was all already priced in by the time the hearing started. *never* buy on news. Remember all the good news we had in April too? Actually the FinCEN guidance was largely viewed as bullish when it was released too, accompanied by relatively positive talks by government officials. But it was manipulated to fit the bear narrative. This government approach is nothing new. The truth is, we rose too fast. Still way up week on week. Medium term, we can't rise at this pace, and need to correct. We have a fair way down to go yet. This is double bottom at 509, confirmed with high volume. It should stabilize and creep up. |
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maz
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November 19, 2013, 01:29:51 PM |
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my explanation for what is happening is :
- early adopters want to cash out at a sweet spot which is now
- so many new comers who still didn't get used to volatility of Bitcoin and panic sell and buy.
- new big players trying to manipulate the market for a sweet buy spot
Dude that's so 2012. We're dealing with the Chinese now, they control the market and their extremely wealthy, love to gamble and are pump dumping the shit out of BTC at the moment. Gox is simply acting as a fiat dump for them and is being jerked around on the coat-tails of BTC-China |
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DougTanner
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November 19, 2013, 01:31:33 PM |
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I think I see a triangle forming with a target of $600 at Gox.
Well there was a triangle forming earlier around 750, but that one turned into a limp dick. This one has a lot more volume, we'll see. |
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NewLiberty
Legendary
Offline
Activity: 1204
Merit: 1002
Gresham's Lawyer
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November 19, 2013, 01:33:11 PM |
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Surprised people are selling.
It seems to me that all the craziness of yesterday was fueled only by money already on the exchanges (excluding China). The hearing didn't end til ~6 PM EST so no one could transfer to the exchanges.
Yes, there are some very large buyers who are just now coming into bitcoin for the first time. In the US, the FEC ruling (US politicians can accept bitcoin donations) The senate hearings (US regulators and law enforcement call bitcoin legitimate, innovative, and don't need new laws) This unlocks some serious US players. China front runs these guys, but there is bigger coming. We've not seen it yet. |
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barbs
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November 19, 2013, 01:35:06 PM |
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I am currently crapping my pants
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Spaceman_Spiff
Legendary
Offline
Activity: 1638
Merit: 1001
₪``Campaign Manager´´₪
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November 19, 2013, 01:35:56 PM |
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I am currently crapping my pants
its wiser to go to the toilet. |
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NewLiberty
Legendary
Offline
Activity: 1204
Merit: 1002
Gresham's Lawyer
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November 19, 2013, 01:36:35 PM |
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Rampion
Legendary
Offline
Activity: 1148
Merit: 1018
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November 19, 2013, 01:39:26 PM |
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Interesting moments, if we break down $350 we will see some real panic and the buying opportunity will be EXCELLENT. Difficult to say if it will happen though. $600-$700 (on Stamp) was an excellent moment to realize some fiat profits and I'm happy with the choice I made.
To all the "singularity" fans: just remember that BTC's infrastructure is not ready yet for such an event. Nevertheless, I find myself not agreeing with Blitz, this does not look to me like a "pop" preceeding a bear market, this looks to me just like a healthy correction that brings some sanity to an unsustainable parabolic growth scenario. We need to remember that Gox is broke; Bitstamp is currently delaying both deposits and withdrawals (its been +1 week since the last "fresh" money was credit to Bitstamp accounts); Coinbase halted trading, and the rest of exchanges are a joke. Fiat is having a harsh time to flow to and from the exchanges.
Taking into account all the above, I bet for the "correction" scenario.
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