osmotic
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Activity: 39
Merit: 0
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January 12, 2017, 01:00:14 PM |
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Personally, I was always expecting a correction of price not just for btc but for usd. Did not expect the bottom to dall out so quickly while the dollar has managed to maintain its strength.
Shame that the correction in opposite direction didn't happen for Eth or doge haha.
The whales took advantage of the news and convinced people to panic sell by starting the dump as soon as they heard the news. It's funny how the whales manipulated the market using the news that the PBOC was preparing to prevent any chance of the exchanges manipulating the market. |
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toknormal
Legendary
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Activity: 3066
Merit: 1188
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January 12, 2017, 01:19:52 PM |
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Greg Manarrino seems to be endorsing the view I outlined in my post of last night. Tells people to relax and hold (although this looks like being recorded before the really big dip. Doesn't matter - the principle still holds).  |
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Torque
Legendary
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Activity: 3822
Merit: 5504
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January 12, 2017, 01:24:33 PM |
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For long term investors, the spike above $1000 wasn't earned properly.
You shouldn't get too excited about a short term spike, because it'll never hold. Get excited when we drift over $1000 and it becomes the new firm support. May take most of the year to get there, but we'll get there.
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mainpmf
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January 12, 2017, 01:32:35 PM |
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For long term investors, the spike above $1000 wasn't earned properly.
You shouldn't get too excited about a short term spike, because it'll never hold. Get excited when we drift over $1000 and it becomes the new firm support. May take most of the year to get there, but we'll get there.
Agreed, most people seemed really too excited... I'm never happy when people are all crazying yelling how btc is going to the moon... The really good news is when nearly no one talk avout price. Then it means it's stable for a long time. It means that you know exactly what your coins are worth and that's true for a long time. Number of threads on price is a bit lower now, if price doesn't change for a few days it will stop and price will be stable. |
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becoin
Legendary
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Activity: 3431
Merit: 1233
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January 12, 2017, 01:52:44 PM |
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The really good news is when nearly no one talk avout price. Then it means it's stable for a long time. It means that you know exactly what your coins are worth and that's true for a long time.
Bitcoin price can't be stable if measured against unstable unit of account like dollar, euro, yen, pound etc. Fiat currencies are unstable because printing press is working round the clock. |
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pinger
Legendary
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Activity: 1512
Merit: 1001
Bitcoin - Resistance is futile
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January 12, 2017, 02:13:27 PM |
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The really good news is when nearly no one talk avout price. Then it means it's stable for a long time. It means that you know exactly what your coins are worth and that's true for a long time.
Bitcoin price can't be stable if measured against unstable unit of account like dollar, euro, yen, pound etc. Fiat currencies are unstable because printing press is working round the clock. |
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Torque
Legendary
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Activity: 3822
Merit: 5504
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January 12, 2017, 02:26:16 PM |
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This caught my eye: https://twitter.com/cnLedger/status/819449070024437761So the PBoC is concerned if traders have trading bots with an inverse peg to Yuan rate? So what? Many traders all over the world do that, in every market. Trading bots have algos that are pegging securities to variances of LOTS of different things (Dollar rate, Euro rate, S&P 500, crude oil price, PMs, pharma, etc., etc.) Talk about overstepping their authority. Maybe PBoC should be more concerned about the falling Yuan and the outstanding debt of their shadow banking industry. |
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becoin
Legendary
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Activity: 3431
Merit: 1233
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January 12, 2017, 02:44:10 PM |
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The really good news is when nearly no one talk avout price. Then it means it's stable for a long time. It means that you know exactly what your coins are worth and that's true for a long time.
Bitcoin price can't be stable if measured against unstable unit of account like dollar, euro, yen, pound etc. Fiat currencies are unstable because printing press is working round the clock. What does that prove? Price of gold is the most manipulated price since 1971. Or you don't think so? |
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Denker
Legendary
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Activity: 1442
Merit: 1016
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January 12, 2017, 02:47:32 PM |
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For long term investors, the spike above $1000 wasn't earned properly.
You shouldn't get too excited about a short term spike, because it'll never hold. Get excited when we drift over $1000 and it becomes the new firm support. May take most of the year to get there, but we'll get there.
I've got plenty of time and patience like a tree. The roots taste bitter but the fruits are sweet!! So will I relax, focus on some other stuff meanwhile, and waaiiiit!!  |
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alphahacktivist
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January 12, 2017, 03:25:31 PM |
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O.k. I will bite. What is that supposed to mean? 2nd bite,., Do you know why there are two 100BTC transactions going to this wallet? Why is it significant? Old coins moving? A campaign of some sort? A dev fund? What is it, man? Tell us!!!! some people said i was bs and i did not own any significant amount of btc and blablabla. so i showed 1 of my addresses.. it went from exchanger to another exchanger and now sitting in a cold wallet. |
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soullyG
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January 12, 2017, 03:29:43 PM |
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Damn, back over $800 already, is that shorts covering?
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becoin
Legendary
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Activity: 3431
Merit: 1233
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January 12, 2017, 03:31:28 PM |
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Many thanks for the cheap coins. Tzupy, where is the final leg of the sell off? I hoped to get some even cheaper. |
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kehtolo
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January 12, 2017, 03:32:35 PM |
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some people said i was bs and i did not own any significant amount of btc and blablabla. so i showed 1 of my addresses.. it went from exchanger to another exchanger and now sitting in a cold wallet.
Ah right... thought i was missing out on some salacious happenings somewhere (I almost certainly am, but not here it seems) |
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osmotic
Newbie
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Activity: 39
Merit: 0
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January 12, 2017, 03:34:32 PM |
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Damn, back over $800 already, is that shorts covering?
The longer no news comes out of China about follow ups to the exchange's inspections the higher the price will go. If China takes action against a big exchange it will crash, otherwise it will go back up. |
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becoin
Legendary
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Activity: 3431
Merit: 1233
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January 12, 2017, 03:43:40 PM |
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Damn, back over $800 already, is that shorts covering?
The longer no news comes out of China about follow ups to the exchange's inspections the higher the price will go. If China takes action against a big exchange it will crash, otherwise it will go back up. If China takes action against a big exchange it will not crash because it won't be a news anymore. It is already priced in. The most they can do is confiscate peoples bitcoins kept on that exchange. |
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Elwar
Legendary
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Activity: 3584
Merit: 2386
Viva Ut Vivas
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January 12, 2017, 04:06:22 PM |
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For long term investors, the spike above $1000 wasn't earned properly.
You shouldn't get too excited about a short term spike, because it'll never hold. Get excited when we drift over $1000 and it becomes the new firm support. May take most of the year to get there, but we'll get there.
I think those that have been around knew that it was a speculative bubble. We all knew that it would go up and crash back down once that speculation ended. We all had our hands on the trigger hoping we'd catch the top. But it fizzled before it started. I had planned on selling half at $3k if it followed past bubbles. With the full expectation that it would crash back down to $1k where I would buy back in. But if we gradually climbed to $3k over a couple of years, I would not be selling. I agree, solid $1k by the end of 2017 though. I do believe, however, that the ETF getting approved will come with a firm move upwards that will stay up due to expanding into a market with much more money than what we have been exposed to so far. |
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Chainsaw
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January 12, 2017, 04:07:51 PM |
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Long term support for the bottom:  Descending wedge in the shorter term:  Descending wedges are typically reversal patterns, and we would have to break a strong support line to defy expectations upon pattern resolution. The support line will force the shorter term descending wedge to terminate before its forced termination at convergence. The two trends converge by 1/18 14:00. I am expecting one more leg downwards, constrained by both the wedge and support. If these hold, then the lowest low would be $686. |
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chopstick
Legendary
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Activity: 992
Merit: 1000
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January 12, 2017, 04:29:46 PM |
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The big-blockers need to fork off already so that we can get on with Project Bitcoin, Satoshi's Vision and not this twisted Kore-Coin crapola.
If we don't, price will continue to stagnate.
Bitcoin has the potential to benefit in infinite ways from the global economic turmoil that is around the corner. In this way, BTC's price could spike to unimaginable highs. But it will never happen with no scaling solution, BTC simply could not handle an increase in 100 million+ users. There is no time to wait 5 years for this imaginary "Lightning Network" to suddenly manifest from vaporware into reality.
FORK IT ALREADY.
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