El duderino_
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Activity: 2492
Merit: 11968
BTC + Crossfit, living life.
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February 02, 2018, 01:19:33 AM |
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I have to admit theres a lot of big orders being thrown down at these levels.
Whoever is selling, thank you for the cheap coins. Appreciated as always! Hear This Many times and Many of us thinking the same , but what When fiat runs out and theres No more fiat to buy any?? At that circumstances those can Just hope to go back up ?
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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PoolMinor
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Activity: 1843
Merit: 1338
XXXVII Fnord is toast without bread
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February 02, 2018, 01:20:42 AM |
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Another merit seeking post I am sure......what about the one quoted below?....I cannot wait for your next post that contradicts this one.
Yes, sorry about that. Unfortunately the cynical, jokular side of my brain that takes 2 seconds to write posts does not often talk to the contemplative, analytical and research-orinted side which takes 2 hours to write them which is why I had to go away and check which one to believe in this case. The ghost of the 2014 consolidation likes to haunt my sense of reality on a regular basis. Scarred for life after spending 18 months thinking "ok, this is the bottom". However, it would appear there is at least some logic to it after all that says things are indeed "the same but different this time" It's ok, I could go and edit the part I quoted if you do the same, just annex the last line with "/s" for clearly a sarcastic theory. Or I will delete mine, and you can edit yours. Edit: I do appreciate your input and time that you take in showing your TA and opinions. Thank you.
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Toxic2040
Legendary
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Activity: 1792
Merit: 4141
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February 02, 2018, 01:25:21 AM |
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I have to admit theres a lot of big orders being thrown down at these levels.
Whoever is selling, thank you for the cheap coins. Appreciated as always!
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becoin
Legendary
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Activity: 3431
Merit: 1233
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February 02, 2018, 01:30:00 AM |
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I have to admit theres a lot of big orders being thrown down at these levels.
Whoever is selling, thank you for the cheap coins. Appreciated as always! Hear This Many times and Many of us thinking the same , but what When fiat runs out and theres No more fiat to buy any?? At that circumstances those can Just hope to go back up ? Central banks are printing hundreds of billions every month. If you don't get any of those newly printed fiat money then bitcoin is not for you! You probably have much bigger trouble than current bitcoin price correction?
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jojo69
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Activity: 3150
Merit: 4303
diamond-handed zealot
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February 02, 2018, 01:31:10 AM |
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what a wonderful entry point for millions of robin hood users
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HairyMaclairy
Legendary
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Activity: 1414
Merit: 2174
Degenerate bull hatter & Bitcoin monotheist
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February 02, 2018, 01:38:39 AM |
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Dip is now accelerating by my calculations. This means we should soon see a sharp snap back / whipsaw soon after it goes vertically down. I would be cautious in buying back the resultant green candle. We will need consolidation to properly reverse this trend and that is the one thing we are definitely missing.
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JayJuanGee
Legendary
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Activity: 3696
Merit: 10130
Self-Custody is a right. Say no to"Non-custodial"
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February 02, 2018, 01:42:32 AM |
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Im out. 5550
Example of "weak hand"?
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Enjel
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Activity: 70
Merit: 21
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February 02, 2018, 01:44:46 AM |
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Im out. 5550
Example of "weak hand"? Sadly, Enky Nakamura is another example of someone who just got worn out, and decided to sell everything off. He stated that only a drop to 7.5k would signal a bear mart (which is correct in my opinion - critical level), but sold it off as soon as it hit ~8.5k.
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El duderino_
Legendary
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Activity: 2492
Merit: 11968
BTC + Crossfit, living life.
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February 02, 2018, 01:47:10 AM Last edit: February 02, 2018, 02:57:45 AM by micgoossens |
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I have to admit theres a lot of big orders being thrown down at these levels.
Whoever is selling, thank you for the cheap coins. Appreciated as always! Hear This Many times and Many of us thinking the same , but what When fiat runs out and theres No more fiat to buy any?? At that circumstances those can Just hope to go back up ? Central banks are printing hundreds of billions every month. If you don't get any of those newly printed fiat money then bitcoin is not for you! You probably have much bigger trouble than current bitcoin price correction? Mmmm in here you do not understand me very good .... i for myself have plenty of BTC and bought @this times but there are Many among us that are neckdeep in for sure whitout any fiat left ..... for myself i also have bought all standing fiat on Exchanges in BTC
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jojo69
Legendary
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Activity: 3150
Merit: 4303
diamond-handed zealot
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February 02, 2018, 01:49:01 AM |
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Toxic2040
Legendary
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Activity: 1792
Merit: 4141
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February 02, 2018, 01:56:29 AM |
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Who's first?
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nanobtc
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February 02, 2018, 01:57:43 AM Merited by BobLawblaw (1) |
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<snip>
When the going gets weird, the weird turn pro.
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smartcomet
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February 02, 2018, 02:05:44 AM |
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Look folks, just put all background noise about tether, India guv, Roubini FUD and other distractions out of your minds. Here's what's going on. The correction is technical, pure and simple. If you checkout this chart from 2015/2016/17, you can see that bitcoin grows in these 8-monthly bubbles which burst in the "propellor correction" fashion I described. The pattern's always the same: That is: • market starts rising out of a bowl • gets to a point where it overheats • nosedives sharply all the way down to retest just below the previous "propellor spike" • retraces halfway up the initial correction and stabilises • drifts slowly down from there to settle from where it starts the next cycle During 2017 these corrections got closer together as we've had both greater market depth AND unprecedented growth during the year. So instead of our 8-monthly crash and recovery we've had 3 of those consolidations (that manifest in the lowest resolution weekly chart) in the last 6 months instead of 1. The last one was in November, peaking at $7500. Together, those 3 consolidations amounted to an aggregate 77% retrace spanning 6-8 months. ($7500, November, $1825 end May). What this means according to precedent is that we NEED to retest at least that 7500 (+or- 20%) region before progressing. It's just the bitcoin way. This is an uncapitalised asset class that's rapidly capitalising and there's so much clamour to get in that it can't do it smoothly. The low of $8455 we saw on Bitstamp a couple of hours ago may or may not be the bottom of the wick. To complete the full depth of the needed correction we may have to revisit the $7500 level or even 6k at a pinch to really bake in the last runup but that could just as easily manifest as a momentary panic "fat finger" dump before retracing back up the decline to around the $13k level which is 50% of the consolidation we've had since the peak. How Does this Compare to the 2013 bubble ?In fact the 2013 rally and that nightmare 18 month recovery followed exactly the same pattern. The reason it took so long to recover is because it went straight from $126 all the way to the top in 7 straight weeks without any of these bubble-bursting corrections on the way (or even mini corrections). That meant that the last support level was the so called "Cyprus spike" way back in April 2013 when it spiked at $266. And sure enough - according to form - it went all the way back to retest that level and a bit more for good measure. Note this is very different to the situation we have now on 3 counts: 1. the rise from $1000 to $19k (16k realistically) is comparable in relative terms but has taken a whole year instead of just 7 weeks 2. we have 3 fairly hefty consolidations which more or less overlap each other and we've almost arrived at the last of those already 3. the correction is rapid and deep which is a good sign because it snaps the market quickly back into a more reasonable trend that can be sustained (see previous "propellor corrections how they've played out). Note: the angle between the support level and the 3 retracement lines in the 2013 chart below. You can see from that that the closer the retracement occurs to the peak blow-off, the higher the bottom will be. 2014 went low because it retraced so slowly and didn't hit the fan-line for a whole year. Conclusion is, this means the bottom will be in fairly quickly and it's likely to be in the region of the $7500 level +/- 20% in my opinion followed by a fairly rapid (21 day) retrace to the upside as shorts close and off-book demand goes back onto the order books. If not, there are still a furter two consolidation levels available below that but it'd be a brave shorter that would put a lot of money behind adverse trades at those levels given the precedents IMO. +1 Merit
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orpington
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February 02, 2018, 02:06:08 AM |
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farewell, adieu, to yeu and yeu and yeu...
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JayJuanGee
Legendary
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Activity: 3696
Merit: 10130
Self-Custody is a right. Say no to"Non-custodial"
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February 02, 2018, 02:07:08 AM |
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I have to admit theres a lot of big orders being thrown down at these levels.
Whoever is selling, thank you for the cheap coins. Appreciated as always! Hear This Many times and Many of us thinking the same , but what When fiat runs out and theres No more fiat to buy any?? At that circumstances those can Just hope to go back up ? Central banks are printing hundreds of billions every month. If you don't get any of those newly printed fiat money then bitcoin is not for you! You probably have much bigger trouble than current bitcoin price correction? Mmmm in here you do not understand me very good .... i for myself have plenty of BTC and bought @this times but there are Many amount us that are neckdeep in for sure whitout any fiat left ..... for myself i also have bought all standing fiat on Exchanges in BTC I don't think that anyone can fault you for running out of fiat on the exchanges because sometimes it can be difficult to judge exactly, even while there is kind of a need to continue to attempt to prepare for worse case scenarios. In the past I have been guilty of running out of money on exchanges and having to juggle things around, yet some of this preparation has gotten easier, especially when we had experienced such exorbitant price rises, including a 7.5x price rise from August to December (that was from about $2,600 to $19,666). I kind of forced myself to restructure my whole order book around $15k - because previously, I had attempted to prepare for at least a 50% retracement yet when we approach 35% or even 40%, we can start to get nervous that preparation for 50% is not enough, and also we know that BTC has suffered a few corrections that approach the 90% levels. Personally, i am thinking that 60% is about the deepest of this retracement, which would be around $7,800 - but yeah the longer it goes on and the closer it gets can bring doubt on that kind of thinking.. and hopes that there is sufficient buying support that will push the price back up, once we might get some kind of last ditch effort to spike the price down. Surely, up is better than down.. but if we are getting lemons, then we just gotta make ourselves some lemonaide out of the situation, no?
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rezurect007
Jr. Member
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Activity: 70
Merit: 7
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February 02, 2018, 02:13:01 AM |
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Im out. 5550
Example of "weak hand"? Yeah kind of.. Have a very small stash. Sold the trading stash. Don't have the balls i guess. Im expecting a bounce at the current level.Just gave up on it.A small rally once the selling pressure subsides. Opted to put in buys the way down. Hoping atleast the 7500 fills. Bounce @8900 Bounce @7500 Bounce @5500
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pacman7331
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February 02, 2018, 02:16:21 AM |
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I will wait till 2020 before I sell shit only buying now. 💥⚡️🤔
Hopefully that S9 price is as discounted as bitcoin is!
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motoprose
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Activity: 195
Merit: 41
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February 02, 2018, 02:26:42 AM |
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I keep hearing of big banks ordering smaller banks to close accounts of exchanges or people that transfer money to exchanges. How are people gonna buy more coins if banks don't cooperate?? Altcoins? Or they will accept fiat themselves or wtf?? They are doing this in India and even in North America, but at a lesser extent. They are just blocking people's cards if they are using it to buy crypto. But some are also saying that Capital one are closing their cards outright for even attempting to purchase anything related to crypto. If they see coinbase or "crypto" as the seller, they will close their card right then and there. Funny how the world has reacted to crypto and treat it since late last year when it was worth more than an ounce of gold. But now... they are just putting up barred wire(and not paying much notice to it all the sudden ) incase it does reach over $17,000usd again.
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explorer
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Activity: 2016
Merit: 1259
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February 02, 2018, 02:26:54 AM |
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criptix
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Activity: 2464
Merit: 1145
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February 02, 2018, 02:32:21 AM |
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