spooderman
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Activity: 1652
Merit: 1029
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May 16, 2017, 08:56:24 AM |
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I've never seen the price just sort of wait around after so much rallying before.
Leads me to conclude that we are indeed just consolidating. Doesn't seem likely that you'd run all the way up to these new heights just to kind of stay there. Either we lose a bunch of it or we keep going.
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Totscha
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May 16, 2017, 09:03:14 AM |
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I've never seen the price just sort of wait around after so much rallying before.
Leads me to conclude that we are indeed just consolidating. Doesn't seem likely that you'd run all the way up to these new heights just to kind of stay there. Either we lose a bunch of it or we keep going.
Takes time to wire fiat to exchanges  |
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JayJuanGee
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Activity: 3752
Merit: 10424
Self-Custody is a right. Say no to"Non-custodial"
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May 16, 2017, 09:09:06 AM |
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Since we hit a support line at around 1650, we might stay here for a couple of days.
Any thoughts on, if we continue all the way down to 1200 or bounce back to 1800 first?
By the way, the panic was amusing, but it is clear as day we are looking at market consolidation, not start of a bear market.
My thoughts are that you seem to be hoping for down, but the indicators do not seem to be inclined towards down. We have continued upwards pressures, and if prices break above $1820, we are likely to get a test of $2k.. Thereafter if the test of $2k fails, at that point, we could get a correction down to as far as $1200 in other words, $1200 does not seem too likely in the shorter term, though it could come a bit further down the road... on the other hand if we break above $2k, then the next point is $2300 to $2500, which makes $1200 even less likely. |
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tk3609
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Activity: 70
Merit: 10
Small trader
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May 16, 2017, 09:34:03 AM |
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Looks like times have changed, now China is western b*tch.
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JayJuanGee
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Activity: 3752
Merit: 10424
Self-Custody is a right. Say no to"Non-custodial"
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May 16, 2017, 10:33:33 AM |
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Looks like times have changed, now China is western b*tch.
What are you talking about? You are talking about comparing prices? You are talking about limitations on chinese exchanges? you are talking about how BTC prices are influenced by various factors, including China? What? |
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Torque
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Activity: 3598
Merit: 5079
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May 16, 2017, 10:35:14 AM |
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All I'm seeing is traders buying bitcoin to pump alts.
2017 should be called "The Year No Alt Left Unturned Unpumped"
Yep |
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craked5
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May 16, 2017, 10:52:16 AM |
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Since we hit a support line at around 1650, we might stay here for a couple of days.
Any thoughts on, if we continue all the way down to 1200 or bounce back to 1800 first?
By the way, the panic was amusing, but it is clear as day we are looking at market consolidation, not start of a bear market.
No I'd say it will bounce back immediately. It's already back on the 1700$ and no reason to see it coming back  |
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CoinCube
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Activity: 1946
Merit: 1055
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May 16, 2017, 11:25:11 AM |
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All I'm seeing is traders buying bitcoin to pump alts.
2017 should be called "The Year No Alt Left Unturned Unpumped"
Yep If I was a very large buyer who wanted to take a substantial position in BTC without raising the price too much one possible strategy would be to systemically and randomly pump various alt coins to intice Bitcoin holders to sell via FOMO. I don't have any evidence this is occurring and I do not trade but when the market behaves strangely one must consider strange explanations. |
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gentlemand
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Activity: 2590
Merit: 3014
Welt Am Draht
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May 16, 2017, 12:06:39 PM |
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If I was a very large buyer who wanted to take a substantial position in BTC without raising the price too much one possible strategy would be to systemically and randomly pump various alt coins to intice Bitcoin holders to sell via FOMO.
I don't have any evidence this is occurring and I do not trade but when the market behaves strangely one must consider strange explanations.
That's sound reasoning that hadn't actually occurred to me before, but you'd have to be very friendly with the alt exchanges and trust them enough not to crater. If I was a megabuyer I wouldn't have enough faith in them. Poloniex is creaking badly. |
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Fatman3001
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Activity: 1526
Merit: 1013
Make Bitcoin glow with ENIAC
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May 16, 2017, 12:28:55 PM |
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BTC below 50% of total crypto market cap today.  |
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600watt
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Activity: 2338
Merit: 2106
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May 16, 2017, 12:33:47 PM |
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Paashaas
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Activity: 3460
Merit: 4426
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May 16, 2017, 01:39:25 PM |
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That was a fine read and well written article. I piss over altcoins, i had never any intensions to buy one. However...i'm very interested investing in sidechains. I might buy some RSK when there Jaxx wallet arrives. This is also my personal tip; invest in sidechains instead of scamcoins. |
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Meuh6879
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Activity: 1512
Merit: 1011
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May 16, 2017, 02:03:47 PM |
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All the monies going to XRP and XLM, that's what's wrong...
and then, on friday ... all alt purge into bitcoin.  fair game. |
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Meuh6879
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Activity: 1512
Merit: 1011
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May 16, 2017, 02:05:29 PM |
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It's already back on the 1700$ and no reason to see it coming back well, on the end of may and the begin of june ... we have dump last year (except for a halving year like 2016).  i short buy into this period. |
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Torque
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Activity: 3598
Merit: 5079
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May 16, 2017, 02:35:24 PM |
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I think that the whale pumpers have just about squeezed all of the 'free ride' they can out of the alts. Now that XRP (the pinnacle of shitcoin) has finally been pumped, there are literally no more alts that anyone might care about to pump. Unless they're saving Auroracoin, Feathercoin, or Maxcoin for the last hurrah? Lol
And all those hapless newbs over in Altlandia are finally starting to realize that their special snowflake alt-du-jour is not so special after all. I think the lightbulbs are starting to come on that they've been completely duped.
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Ted E. Bare
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May 16, 2017, 02:58:32 PM |
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There are no dumps in bitcoin. |
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BlindMayorBitcorn
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Activity: 1260
Merit: 1115
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May 16, 2017, 02:59:26 PM |
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I think that the whale pumpers have just about squeezed all of the 'free ride' they can out of the alts. Now that XRP (the pinnacle of shitcoin) has finally been pumped, there are literally no more alts that anyone might care about to pump. Unless they're saving Auroracoin, Feathercoin, or Maxcoin for the last hurrah? Lol
And all those hapless newbs over in Altlandia are finally starting to realize that their special snowflake alt-du-jour is not so special after all. I think the lightbulbs are starting to come on that they've been completely duped.
We're down to something called Game today. They're scraping the barrel for sure. |
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GGALINff
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May 16, 2017, 03:34:27 PM |
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total mkt cap of crypto (available supply) will approach 100 bil $ soon imho
makes sense to be diversified in BTC and Alt - even if alts crash...how soon we forget that BTC crashes very hard as well
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iikun
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Activity: 1062
Merit: 1003
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May 16, 2017, 03:44:17 PM |
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total mkt cap of crypto (available supply) will approach 100 bil $ soon imho
makes sense to be diversified in BTC and Alt - even if alts crash...how soon we forget that BTC crashes very hard as well
Indeed. Diversification is the key to wealth creation. No market is immune to crashes (we all know this lol), and alts in moderation can help mitigate the larger drops. |
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JimboToronto
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Activity: 4046
Merit: 4603
You're never too old to think young.
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May 16, 2017, 03:47:42 PM |
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Good morning Bitcoinland.
Still consolidating in a nice pennant... currently $1765USD/$2400CAD (Bitcoinaverage).
After last week's advances and correction, a few days' rest doesn't hurt at all.
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