The Bear Market is officially...OFF?!?

[keewee]

hey look, the Bitcoin ATM was on the news!  http://youtu.be/ZqEdBCKFPAo

Quote: "Today $1.00 is worth about 100 bitcoins"  

[bitcon]

hey look, the Bitcoin ATM was on the news!  http://youtu.be/ZqEdBCKFPAo

Quote: "Today $1.00 is worth about 100 bitcoins"  

see how quickly they have impacted the market! 

[ElectricMucus]

hey look, the Bitcoin ATM was on the news!  http://youtu.be/ZqEdBCKFPAo

Quote: "Today $1.00 is worth about 100 bitcoins"  

see how quickly they have impacted the market! 

They even got me beat by expectations.

[notme]

Maybe. I think the 100 ceiling will hold for now, though. If not, it could be the set up for an epic bull trap.

So is China leading the charge into the bull trap?

[evolve]

So is China leading the charge into the bull trap?

I don't know, it could be china and the BTC ATM providing a bit of good news (which lifts investor confidence), or it be the bear market letting off a little steam before the sell off continues.  

Either way, I think this suckers rally is going to catch people with their pants down.

[tvbcof]

So is China leading the charge into the bull trap?

I don't know, it could be china and the BTC ATM providing a bit of good news (which lifts investor confidence), or it be the bear market letting off a little steam before the sell off continues.  

Either way, I think this suckers rally is going to catch people with their pants down.

I cannot see the ATM thing being much of a factor frankly.  The technology and originality is ho-hum and the real issues are the same as any other major player...regulation.  To top it off, the people involved seem like barely-post-pubescent shysters.

I'm not really convinced that we are even in a bear market vs. just being run-of-the-mill volatility in Bitcoin-land coupled (or associated) with rampant manipulation.  Could see this as a down-blip in the run-up from the 2011 bear bottom to who knows where.  Or it is possible that this is the start of a bear which will end when almost everyone has given up hope.  Like last time.

[master-P]

I don't know, it could be china and the BTC ATM providing a bit of good news (which lifts investor confidence), or it be the bear market letting off a little steam before the sell off continues.  

Either way, I think this suckers rally is going to catch people with their pants down.

Evolve, how low do you think it will go? Do you think it'll test $80 again this week?

[superduh]

Its only.going up.. Ignore the downtrends they.are not relevant in the long run

[evolve]

Evolve, how low do you think it will go? Do you think it'll test $80 again this week?

Its anybody's guess, really.

I think the most likely scenario is we test $120 on the top end, fail to break through, the continue the drift back down. If this is the case, I think we will go below $80. Depending on how this current rally plays out, I think we could see $50 in the next 2 or 3 weeks.

 

[evolve]

  Or it is possible that this is the start of a bear which will end when almost everyone has given up hope.  Like last time.

I think $50 is the big test, and I think that number will come up quicker than people realize.

[Frozenlock]

You do realize that I was waiting to go below $50 3 weeks ago? 

[Malawi]

You do realize that I was waiting to go below $50 3 weeks ago? 

You are not alone. I am puzzled that not more people see the downside here. A brutal crash followed by a steady climb would have been a much better signal from the market than all this mucking about. 

[superduh]

After it keeps going up the bears should take a hiatus from here

[evolve]

After it keeps going up the bears should take a hiatus from here

When the price goes back down, are the bulls going to do the same?

Didn't think so.

[redwraith]

Down to $50, then up to $600.  No reason to sell if you believe in long term viability.

[bitcon]

After it keeps going up the bears should take a hiatus from here

When the price goes back down, are the bulls going to do the same?

Didn't think so.

if it goes below fifty i'll take a weeks vacation.   

[evolve]

Ill do the same if it goes above 160.

[smoothie]

My guess is both of you wont be on vacation anytime soon..


160 to 50 haha huge spread

[bitcon]

its the bearpocalypse!

[notme]

My guess is both of you wont be on vacation anytime soon..


160 to 50 haha huge spread

But you can triple your bitcoins that way!