come on bears
DUMP YOUR COINS!!
pretty sure they ran out,
if you have not bought back in, bye bye train says
ch000 ch000 m0ther f0k0rz!!!
This kind of posts remind me of the
return-to-normal stage in the classical bubble picture. I have given only 25% odds that we will rest here a few days and challenge the recent highs in short order. 75% that we will have a correction similar but milder than April.
I have also increased the odds that we are in a bubble correction to about 75%. That said, I expect the following things happen:
- Lowest recorded trade will be in $2XX range, bigger volume around $300.
- It will take only 3-6 months to regain the old highs.
- Volume will all the time be lower than in previous situations, there is no widespread panic or general capitulation
Two bubbles in 2013
Who could have thought...
Beating the yesterday's intraday high (BS: $640, Gox: $750, BTCC: $1000) makes me increase the odds that this is just a weekly consolidation. Every day in declining trend erodes the new investor confidence and induces more and more sales from the earlier investor community.
A bull is a person who does not hold fiat.
A bear is a person who holds at least some fiat and wants to return to BTC.
As you can see, I am now a bear. But almost everybody else are bulls. What this means is that you do not have the means to influence price to the upside. Only we do. But we are very few. Also the newbies do. But will they really buy in this kind of situation?
Who owns the bitcoins? Large holders, forum activists, savers, traders and newbies. There are so many groups and so many in the groups that will contemplate selling after every passing hour. Volume is so low that even
BTC10,000 dump is devastating. China is still 60% higher than a week ago, and just scoring the second negative day. (They don't give a squat about bitcoin, just want the profits.)
I think the intraday high should be just about reached now. Expect a vicious dump during the following 20 hours.
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