this is insane again

[EuroTrash]

96.89 at the moment of this writing. 

Whoever ass-manipulator is behind this, please keep going on with your bull trap setup. I can't care less. Most of my BTCs are in cold storage by now and definitely not for sale any time soon. Feel free to crash the market as many times as you wish. All you can have is a bit of my play money. Yes I bought BTC lower this morning and sold higher right now. 3 grand Euros in 7 hours. Feels good. They'll pay for a hell of a birthday party. Thanks for those.

[1715142786]

1715142786

[1715142786]

1715142786

[checkers6676]

why so angry?

[Wuji]

96.89 at the moment of this writing.  

Whoever ass-manipulator is behind this, please keep going on with your bull trap setup. I can't care less. Most of my BTCs are in cold storage by now and definitely not for sale any time soon. Feel free to crash the market as many times as you wish. All you can have is a bit of my play money. Yes I bought BTC lower this morning and sold higher right now. 3 grand Euros in 7 hours. Feels good. They'll pay for a hell of a birthday party. Thanks for those.

Looking at block chains it isn't a "manipulator" or an intentional bull trap.  It is just a bunch of bulls trying to get back on the bandwagon.  I do agree it is yet another bull trap though even if only misguided.  We have had like ten of them since $55 and every single time people start posting the crash is over.  This maybe more hope on the OKCupid announcement yesterday and other news today I saw on Huffington Post.  

[EuroTrash]

why so angry?

because swings like these destroy the confidence in bitcoin as a mean of exchange for goods.
Of course I want to get rich, like anyone else. But for the sake of the bitcoin idea itself I'd be way happier with some stability.

[NamelessOne]

We were in a downward channel for like a week, no real bulltraps from what I see. Now we are in an upward channel and broke straight through the previous downward channel after what many are thinking was a double bottom in the 50s.

[Wuji]

We were in a downward channel for like a week, no real bulltraps from what I see. Now we are in an upward channel and broke straight through the previous downward channel after what many are thinking was a double bottom in the 50s.

I look at the past 5 days and I see a bulltrap everyday.  Based on the selloff that just happened this one might be about to break.  We are at 92.9 right now for reference.

https://i.imgur.com/sthqtAh.png

[seleme]

This stuff is definiely not good for Bitcoin. It won't be widely accepted as long as it's dancing like this, it'll just be a speculation asset.

[Frozenlock]

For less volatility we need a higher market cap.

Thus, we need higher prices. Weeeeee!

[Wuji]

This stuff is definiely not good for Bitcoin. It won't be widely accepted as long as it's dancing like this, it'll just be a speculation asset.

I agree however the $266-$105 is much more damaging.  However more adoption will bring more stability.  This is a chicken and egg problem.  Silk road is able to keep trades flowing and last night I researched and learned how.  Obviously as the bubble goes up they make huge profits.  However, they hedge orders for sellers and pay them out of their own pockets on the falls.  The system seems to have worked great during the bubble.  This isn't an issue for more buyers as they get coin and make the purchase and the sell price can be set to move up and down with the USD.

[muyuu]

Some panic buying going on.

Yeeeee haaaa

Hop on the train before it's too late.

[chriswilmer]

Guys, remember that if bitcoins become widely adopted (greater than 1% of the population), bitcoins will necessarily have to cost more than $1,000 (probably more like $10,000). It has to get to that price SOMEHOW, and I don't see any possible way it could get there without a lot of volatility.

Yes, I would also like bitcoin to have a relatively stable price, but I'm not expecting or hoping for that until it's a trillion dollar market (like gold, which can still be fairly volatile).

[Wuji]

Guys, remember that if bitcoins become widely adopted (greater than 1% of the population), bitcoins will necessarily have to cost more than $1,000 (probably more like $10,000). It has to get to that price SOMEHOW, and I don't see any possible way it could get there without a lot of volatility.

Yes, I would also like bitcoin to have a relatively stable price, but I'm not expecting or hoping for that until it's a trillion dollar market (like gold, which can still be fairly volatile).

True, patience is what everyone needs.  Adoption comes, value goes up and stability comes.  Don't expect stability to come before adoption.  It wont happen.

[Wuji]

LOL. Don't you see some change and some difference in your "bullcrap" pattern? Could you possibly observe how "lower lows and lower highs" has changed to "higher highs and higher lows"?

I see four days of consecutive "lower lows".  Today I see one higher high which I chalk up to the OKCupid announcement.  We are now at $91 and it looks like the latest "Bullcrap" as you so eloquently named it is breaking.

[rebuilder]

But for the sake of the bitcoin idea itself I'd be way happier with some stability.

Not gonna happen for a long time, if ever. Unless you feel like dropping some money on stabilizing the rate. Where would you like it to be?

[Rampion]

Nice times to rake some profit daytrading. Never did that actively, but its very profitable indeed

I'm still quite bearish, but the truth is that the last 2 days we had a HUGE selloff. Hundreds of thousands of coins per day. It may be true that panic sell is now over, and now the fresh fiat entered in Gox is pumping up the price again.

I don't think that in 2011 Gox had this massive increase in verifications, this may no te be over. I guess more big sell offs could happen at around $130, $160 and $200ish

What I can guarantee is that we are approaching a period of extreme volatility, even by BTC standards.

[NamelessOne]

We were in a downward channel for like a week, no real bulltraps from what I see. Now we are in an upward channel and broke straight through the previous downward channel after what many are thinking was a double bottom in the 50s.

I look at the past 5 days and I see a bulltrap everyday.  Based on the selloff that just happened this one might be about to break.  We are at 92.9 right now for reference.

That was what happens in downward channels... those aren't bulltraps. That is just movement in a downward market. And now the market appears to have reverse and is doing it in the other direction... up.

[Wuji]

Nice times to rake some profit daytrading. Never did that actively, but its very profitable indeed

Been daytrading for over 15 years and I have to say I have yet to see anyone get rich at it.  Lot's of guys who made a quick million and then lost it all though.  You can't predict a panic sell off and can easily lose weeks of profit in one day.  Anyone who replies claiming to be getting rich on Bitcoin daytrading please show us your statemtents and continue to show them from now on.  I doubt you will see this.

[Wuji]

I look at the past 5 days and I see a bulltrap everyday.  Based on the selloff that just happened this one might be about to break.  We are at 92.9 right now for reference.

That was what happens in downward channels... those aren't bulltraps. That is just movement in a downward market. And now the market appears to have reverse and is doing it in the other direction... up.

Bulltrap - A false signal indicating that a declining trend in a stock or index has reversed and is heading upwards when, in fact, the security will continue to decline.


How are those not bull traps exactly based on the investopedia definition?  We are at $89 and I posted the chart at $93, sorry that is not up.

[Rampion]

Nice times to rake some profit daytrading. Never did that actively, but its very profitable indeed

Been daytrading for over 15 years and I have to say I have yet to see anyone get rich at it.  Lot's of guys who made a quick million and then lost it all though.  You can't predict a panic sell off and can easily lose weeks of profit in one day.  Anyone who replies claiming to be getting rich on Bitcoin daytrading please show us your statemtents and continue to show them from now on.  I doubt you will see this.

Yeah, I agree with you... It's just that my strategy was always "buy and hold + spend some to support BTC economy", and this last two days I have being buying after big sell offs and selling after aprox. 10% increase in price with perfect results so far... And is profitable because that is happening almost every couple of hours

I did that just because I was jealous everybody writing "I doubled up on the crash", etc... But I know this is not the strategy for me, I'm just trying to increase a bit my stash of fresh fiat that arrived to Gox precisely the day of the dropoff to $105 from $266, while waiting for one big crash to buy BTC with it and forget about it.

I was hoping that $32 was the best moment to use that fiat, now I think I should have bought at around $55. What would you think is a good entry point, as a daytrader?

[Rampion]

Nice times to rake some profit daytrading. Never did that actively, but its very profitable indeed

Been daytrading for over 15 years and I have to say I have yet to see anyone get rich at it.  Lot's of guys who made a quick million and then lost it all though.  You can't predict a panic sell off and can easily lose weeks of profit in one day.  Anyone who replies claiming to be getting rich on Bitcoin daytrading please show us your statemtents and continue to show them from now on.  I doubt you will see this.

Yeah, I agree with you... It's just that my strategy was always "buy and hold + spend some to support BTC economy", and this last two days I have being buying after big sell offs and selling after aprox. 10% increase in price with perfect results so far... And is profitable because that is happening almost every couple of hours

I did that just because I was jealous everybody writing "I doubled up on the crash", etc... But I know this is not the strategy for me, I'm just trying to increase a bit my stash of fresh fiat that arrived to Gox precisely the day of the dropoff to $105 from $266, while waiting for one big crash to buy BTC with it and forget about it.

I was hoping that $32 was the best moment to use that fiat, now I think I should have bought at around $55. What would you think is a good entry point, as a daytrader?