Sentiment in 2011

[No 1]

super informative thread especially for those not involved way back when...

[BTC Books]

This price behaviour is certainly reminiscent of July 2011 now.

Yeah reminds me of that time too.

But is it different this time?

I think there are some differences in development/infrastructure.

Just that I still think the price can dip below $100.

I'm looking at it relatively that $100 is a psychological barrier just like $10 was.

I still think that if we see some major (50k+) dumps, it's insider information in re the whole DHS Dwolla thing.  There could easily be more information/restrictions to come on that: and the earliest we'll hear about it is through obvious insider trading, like on April 10th, by those who are actually getting 'lettres de cachet' from the government.

One big dump and I set my buys around $50ish...

[BTCThousandaire]

Who received those notes from the government on April 10th? I missed that.

[BTC Books]

Who received those notes from the government on April 10th? I missed that.

Different situation - same result.  The insider info that wasn't shared was the CoinLab/Gox deal falling apart, and the attendant lawsuit.

[N12]

Is this the beginning of The Great Dollar Extraction? If the Dollars drain out of the system via international wires and people deposit more reluctantly than they used to (and of course, they will not be able to any more via Dwolla), it might very well be.

Still awaiting confirmation on the charts, however.

The recent news adds to the evidence.

Awaiting confirmation on the charts.

[Rampion]

Who received those notes from the government on April 10th? I missed that.

Different situation - same result.  The insider info that wasn't shared was the CoinLab/Gox deal falling apart, and the attendant lawsuit.

Source? Proof?

[N12]

Breakout.

I concede this is going differently than 2011.

[Rampion]

Breakout.

I concede this is going differently than 2011.

VICTORY

(choo choo motherfucker!)

[Frozenlock]

[BTC Books]

LOL.  I had to google that Jynx card to make sure it wasn't photoshopped.  I bet they've taken some flack for that one...

[N12]

Breakout.

I concede this is going differently than 2011.

Seems that it has only taken a different initial path in order to fool some of us.

I'm fortunate enough to have actually come out with profits since I posted this as I reversed my position early at minimal loss and had a nice daytrading move immediately after (a week ago). Back to holding the Bernanke Bux until we see <50, probably.

We broke horizontal support levels of 103 and 97 recently. Next one would be 79. I predict that after a possible initial bounce beyond $100, we will be trading in the double digits for a long time.

The Great Dollar Extraction is ON.

[Frozenlock]

Rampion jynxed it. 

[N12]

Haha, maybe so.

I'm still bullish for the long term. I think below 50, Bitcoin will be a good play again in that one can buy some, throw them on a paper wallet and lock them away for 2 or 3 years.

[ManBearPig]

Excellent post, much appreciated!

[Rampion]

Breakout.

I concede this is going differently than 2011.

Seems that it has only taken a different initial path in order to fool some of us.

I'm fortunate enough to have actually come out with profits since I posted this as I reversed my position early at minimal loss and had a nice daytrading move immediately after (a week ago). Back to holding the Bernanke Bux until we see <50, probably.

We broke horizontal support levels of 103 and 97 recently. Next one would be 79. I predict that after a possible initial bounce beyond $100, we will be trading in the double digits for a long time.

The Great Dollar Extraction is ON.

Still, I don't see the price crashing as low as in 2011... In 2013 terms, that means having a bottom of $16ish (2/32 - 16/266). I would be surprised if we go below $50, and very very puzzled if we go below $30.

[N12]

Still, I don't see the price crashing as low as in 2011...

I don't see that happening either. There's definitely a long-term up trend. Bitcoin will become a good play once it halves again (the price).

[Maged]

Breakout.

I concede this is going differently than 2011.

Seems that it has only taken a different initial path in order to fool some of us.

I'm fortunate enough to have actually come out with profits since I posted this as I reversed my position early at minimal loss and had a nice daytrading move immediately after (a week ago). Back to holding the Bernanke Bux until we see <50, probably.

We broke horizontal support levels of 103 and 97 recently. Next one would be 79. I predict that after a possible initial bounce beyond $100, we will be trading in the double digits for a long time.

The Great Dollar Extraction is ON.

Still, I don't see the price crashing as low as in 2011... In 2013 terms, that means having a bottom of $16ish (2/32 - 16/266). I would be surprised if we go below $50, and very very puzzled if we go below $30.

If the crash isn't painful, it likely hasn't completed. Take a look at sentiment today: the price that people are saying would be painful, "the end of Bitcoin", and that there's no way that we'll go below is about $20. Keep this in the back of your mind.

That being said, getting in at around $50 with a good amount (but not all) of your Bitcoin investment funds is a good idea long-term. Save a small amount for the $20 level, but don't depend on it happening.

[freedomno1]

Thanks for the time machine always interesting to see how far its going and where its been

[Rampion]

Breakout.

I concede this is going differently than 2011.

Seems that it has only taken a different initial path in order to fool some of us.

I'm fortunate enough to have actually come out with profits since I posted this as I reversed my position early at minimal loss and had a nice daytrading move immediately after (a week ago). Back to holding the Bernanke Bux until we see <50, probably.

We broke horizontal support levels of 103 and 97 recently. Next one would be 79. I predict that after a possible initial bounce beyond $100, we will be trading in the double digits for a long time.

The Great Dollar Extraction is ON.

Still, I don't see the price crashing as low as in 2011... In 2013 terms, that means having a bottom of $16ish (2/32 - 16/266). I would be surprised if we go below $50, and very very puzzled if we go below $30.

If the crash isn't painful, it likely hasn't completed. Take a look at sentiment today: the price that people are saying would be painful, "the end of Bitcoin", and that there's no way that we'll go below is about $20. Keep this in the back of your mind.

That being said, getting in at around $50 with a good amount (but not all) of your Bitcoin investment funds is a good idea long-term. Save a small amount for the $20 level, but don't depend on it happening.

I think exactly the same, what puzzles me is that we all agree. Everybody is waiting for $50 to "load the truck", while saving a little in case we go lower.

[hl5460]

Real bottom is when few or rare threads talking about price. I shall wait when it goes down to 30USD.