marky89
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May 12, 2018, 07:34:24 PM |
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Seems like we could get a legit bounce from the look of the hourly. Coincides with the 50MA tap on the daily too. All in all, the higher time frames look like shit though. I'm preparing for a hibernation period.
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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RewFrew
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Activity: 574
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Chainjoes.com
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May 12, 2018, 07:58:38 PM Last edit: May 12, 2018, 09:01:02 PM by RewFrew |
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The 8250$ support is holding for now.
Hope no new fud happends the next weeks.
Some big altcoins are moving strongly the last 24, thats means the big whales already bought bitcoin yesterday at the button and then bought some big altcoins for another Altcoins rally.
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Torque
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Activity: 3556
Merit: 5041
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May 12, 2018, 09:35:39 PM |
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With a +7-10% buy premium, people will never use them though.
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coinlocket$
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Merit: 1512
#1 VIP Crypto Casino
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May 12, 2018, 09:39:52 PM |
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Normal life for traders
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jojo69
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Activity: 3164
Merit: 4345
diamond-handed zealot
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May 12, 2018, 09:41:13 PM |
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With a +7-10% buy premium, people will never use them though. actually, I think I'm going to drive over and dump a C note in one just to check it out
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JayJuanGee
Legendary
Online
Activity: 3710
Merit: 10227
Self-Custody is a right. Say no to"Non-custodial"
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May 12, 2018, 09:45:40 PM |
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Ever since the Death Cross late March bitcoin price has found resistance at the daily 200 MA. We are in a bear market until price breaks through the 200 MA. Also testing the 50 MA right now: if 50 MA does not hold next resistance range is $6400 - $7300. Best case scenario IMO is we are range bound between the 50 and 200 MA until one or the other is breached. I appreciate your discussion of recent resistance at the 200 day MA, which in accordance with your chart, seems to have been tested and held on three occasions since late March. And in the past 24 hours support at the 50 day MA seems to have been tested and so far held. It seems likely that you are concluding that BTC is in a bear market from other data - besides those shorter-term points that have been broken through several times in the past 4 months - and yes, I see that you seem to be focusing a bit more on the period of time once the 50 day MA moved below the 200 day MA. Even though I frequently witness what I perceive to be these kinds of pre-mature (and perhaps too much TA reliant) assessments that BTC is in a bear market, I am NOT sure how anyone can really be confidently arriving at such conclusions because the actual conclusion of a "bear market" would be more than a couple of quarters of downward BTC price performance besides just trying to pigeon-hole bitcoin into traditional assessments or implying that BTC is the same as other assets and even downplaying fundamentals that show BTC to have unique paradigm shifting components. Furthermore, it took BTC more than 2 years to go from its $250-ish foundation to its $19,666 price peak, so it would also seem likely that we should be considering some longer term trends, rather than seemingly prematurely pigeon-holing BTC's current overall market posture as "bear market." In other words, how come I get a bit perturbed by seemingly smart peeps wanting to prematurely conclude and define BTC as a bear market, when the data seems to not be in yet. Sure as fuck, down the road, these "bear market" labels could end up being correct, and sure as fuck, individually, you are able to make market bets in accordance with your tentative (and seemingly premature) assessments about a BTC being in the beginning of a bear market, but the actual BTC market performance is not seeming to meet a reasonable bear market definition merely because there has been a bit more than 4 month downward price performance, and merely because the 50 day MA has moved below the 200 day MA - from a bit of a steamy top up to $19,666. At the risk of repeating my selfie, I just don't buy these kinds of seemly premature bear market conclusions, unless perhaps we witness another 3-4 months of such downward BTC price performance, then I might, perhaps, begin to grant such possible assessments. In other words, a relatively long downward BTC price correction (of a bit over 4 months) does not seem to take BTC out of a bull market and put it in a bear market... even though it may be a bit much to conclude that BTC remains in a bull market, too, and to me, it seems almost equally wishful and premature to be coming to such bear market conclusion as it would be to be concluding bull market from looking at longer trends - in other words, the jury remains out, even if you want to make your BTC price bets towards downward price movements and you somehow believe that overall down is more likely than up, which I guess would be part of any trader's practical application of coming to such "bear market" conclusion, which seems like it has a decent chance of getting rekt to place too high percentages on such downwards presumptions.. when the odds of the bottom being in might be close to as likely as betting on continued downwards? Another possible assessment of current BTC market dynamics, would be to don't do (or conclude) anything until there is a decently sized break one way or another, which might require a considerable amount of movement passed either the 50 day MA on the downside or the 200 day MA on the upside.
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Ludwig Von
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May 12, 2018, 09:48:46 PM |
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Toxic, I love your chart efforts. They are (ch)Art. Altough mostly your optimism in the work seems a bit neglected by honeyBadger 's behaviour.
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TERA2
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Deb Rah Von Doom
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May 12, 2018, 10:00:07 PM |
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Normal life for traders Bear with me here... Bear here? Bare? Bear? BEAR? BEAR! BEAR! BEAR! BEAR! BEAR! BEAR! This is madness! I cant take it anymore. BULL SHIT! Bull Shit? Bull? BULL? BULL! BULL! BULL! ..with me here...
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Lontonbit
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May 12, 2018, 10:01:16 PM |
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Toxic, I love your chart efforts. They are (ch)Art. Altough mostly your optimism in the work seems a bit neglected by honeyBadger 's behaviour. Stevie wonder can see the chart better than you.
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El duderino_
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BTC + Crossfit, living life.
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May 12, 2018, 10:33:21 PM |
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They say sell in May and go away. I bought (quite a lot) and I am here to stay: always the sum I am not afraid to lose. We will see how this unfolds: still bullish
home early , quite a good dinner lots of fine drinks vodka martini, good wines.... but didn't make it to late so after few hours not watching the price and didn't talk about crypto .... i can only say ,good to see the price is still +8K allways hate to see the first number drop lower, so quickly go back to vegeta and than attack the 5-digit numbers saturday drunk merit go's tho here cause i just read BOUGHT/STAY/BULLISH what more does a hodler wanna read keep up buying and hodling
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RoomBot
Legendary
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Activity: 2268
Merit: 1123
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May 12, 2018, 10:37:16 PM |
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Lol, glad I checked on the site, I was like "shit it's really happening". Lol Fake fucking news site... As soon as I read this I was WAT??, no fucking way! In its response, the government said it agreed with or supported the majority of the recommendations, including potentially requiring wages to be paid into bank accounts, effectively outlawing cash-in-hand payments. Workers in the “gig economy” will also face greater scrutiny. Really, Its a fake news site? How did you verify this or how could I. I saw the news somewhere else initially and I searched for it. I think news.com.au looks legit and is reporting on facts. Here's another article on it. http://bitcoinist.com/australia-criminalizes-cash-10k-funding-blockchain-research/Bitcoinist regurgitating someone else's post proves nothing. Stay vigilant. Editor-in-Chief Scott Fargo (classy guy on the left in photo) is notorious co-conspirator with Josh Garza (R in photo) & promoted his fraudulent Paycoin on CNN:
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Ludwig Von
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May 12, 2018, 10:40:59 PM |
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They say sell in May and go away. I bought (quite a lot) and I am here to stay: always the sum I am not afraid to lose. We will see how this unfolds: still bullish
home early , quite a good dinner lots of fine drinks vodka martini, good wines.... but didn't make it to late so after few hours not watching the price and didn't talk about crypto .... i can only say ,good to see the price is still +8K allways hate to see the first number drop lower, so quickly go back to vegeta and than attack the 5-digit numbers saturday drunk merit go's tho here cause i just read BOUGHT/STAY/BULLISH what more does a hodler wanna read keep up buying and hodling Michel, Ur dlunk ! :-)
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Ludwig Von
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May 12, 2018, 10:42:02 PM |
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Toxic, I love your chart efforts. They are (ch)Art. Altough mostly your optimism in the work seems a bit neglected by honeyBadger 's behaviour. Stevie wonder can see the chart better than you. That is for sure !
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RoomBot
Legendary
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Merit: 1123
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May 12, 2018, 10:51:54 PM |
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this moment When Where Going down ..... i can only be happy its saturday , the more of a good excuse i have to get totaly drunk @dinner This evening So still not on my last Smerit thanks to bob but Shore AS hell if i’m wasted This evening i must send a drunk merit, Actually its pity cause i thought we were crossing 10k by now but ok its Just hodl and wait a little longer, Just Another wave to ride and Another dip to buy So to all the hodlers HODL and all the trolls(roach) take one of youre moments to spread Some FUD we love iT knowing you Just sitting on the side lines NOCoining And let us see how critical the next 24h gonna be ...... let the fools sell BTC to stronger HODLhands Common ! With all the brave souls out of the closet here on WO, it's about time for me to come out today too, as a Small Player. Tiny. So be happy for the Proletariat like me who can afford to buy some of this lovely dip today. I for one, am psyched. Long-term HODLers have nothing to fret about. Buy the dip already!
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Toxic2040
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Activity: 1792
Merit: 4141
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May 12, 2018, 11:08:01 PM |
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Toxic, I love your chart efforts. They are (ch)Art. Altough mostly your optimism in the work seems a bit neglected by honeyBadger 's behaviour. Stevie wonder can see the chart better than you. That is for sure ! I dont see why attempts at TA have to be boring.
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jojo69
Legendary
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Activity: 3164
Merit: 4345
diamond-handed zealot
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May 12, 2018, 11:24:00 PM |
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JayJuanGee
Legendary
Online
Activity: 3710
Merit: 10227
Self-Custody is a right. Say no to"Non-custodial"
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May 12, 2018, 11:28:17 PM |
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They say sell in May and go away. I bought (quite a lot) and I am here to stay: always the sum I am not afraid to lose. We will see how this unfolds: still bullish
I panic-bought TFD at $8340 so I can sleep better this weekend. Not that it matters a year from now. Are you suggesting that a year from now, BTC prices are going to be at such a level (higher than now) that the difference between buying at $8,340 and buying at $9,340 is not going to make a very BIG difference? What kind of BTC price are you thinking? Somewhere north of $20k? I personally am thinking that if we get another exponential BTC price rise before a year from now, then there are decent chances that testing of BTC price support would stay above $20k, but surely nothing in BTClandia has any kind of certainty... and I suppose, even a decently played out bullish price movement scenario that pulls bitcoin into the $100k price territory within a year or so, would have decent potentialities of returning to test price support areas below $20k.
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JayJuanGee
Legendary
Online
Activity: 3710
Merit: 10227
Self-Custody is a right. Say no to"Non-custodial"
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May 12, 2018, 11:34:23 PM |
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Why are we still bleeding so badly? What's going on?
Re-quoting for ya: When a legendary speaks like a coward...
...and BTW, the last time you spoke like that was on 6th February (seconds before the pump), so I'm taking your this comment as a signal of the next big pump. hahahahaha This guy/gal/bot, is just spouting out misleading nonsense to be asserting "bleeding" bullshit. Is this a sign of shill desperation, as you seem to be suggesting, Raja?
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Searing
Copper Member
Legendary
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Activity: 2898
Merit: 1464
Clueless!
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May 12, 2018, 11:36:39 PM |
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They say sell in May and go away. I bought (quite a lot) and I am here to stay: always the sum I am not afraid to lose. We will see how this unfolds: still bullish
I panic-bought TFD at $8340 so I can sleep better this weekend. Not that it matters a year from now. Are you suggesting that a year from now, BTC prices are going to be at such a level (higher than now) that the difference between buying at $8,340 and buying at $9,340 is not going to make a very BIG difference? What kind of BTC price are you thinking? Somewhere north of $20k? I personally am thinking that if we get another exponential BTC price rise before a year from now, then there are decent chances that testing of BTC price support would stay above $20k, but surely nothing in BTClandia has any kind of certainty... and I suppose, even a decently played out bullish price movement scenario that pulls bitcoin into the $100k price territory within a year or so, would have decent potentialities of returning to test price support areas below $20k. yep...I see it going sideways at best for till the end of the year...my view is that mt. gox has to wrap up the liquidation from the trustee's point of view (for them to get paid and done with the liquidation) by the end of this year....is my guess ....thus 1.9 Billion BTC to USD in the next 8 months that 'pig' has to be digested by the Bitcoin Python can it be done, don't know...but if it can be and the price goes sideways..that is my best case...at the way mt. gox trustee always panic sells on exchanges directly and kills his own price point, by the mass of BTC he moves, and always selling on the low/drop in price (panic sells)...BTC IMHO could go as low as 3k IMHO... NOW IF ...the mt. gox trustees sold outside of exchanges (most likely the folk would hold) and stated they are going to move so much coin in increments on a time frame till the end of the year at best manner possible...then perhaps..it would not matter and the price could go up...but with the cluelessness or just plain spite these 'banker connected' lawyers liquidating mt gox have taken...I sometimes wonder if they are not making this a 'train wreck' just so when they go back to representing the Japanese banks they can show they f*cked the BTC ecosystem as much as legally possible on this liquidation...
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