Massive rebound incoming

[agath]

no rebound till i finish my dumps

Your dumps aren't effective, price is rising.

[Malawi]

It would be funny if all the bears ended up being wrong and there actually is a massive rally sometime this month.

Well, that's what cold wallets exist for. In case I'm wrong, I'll still be rich. Just a little less rich than if I was right. 

A massive rally in a bear market is likely a dead cat bounce(bull-trap). It most likely have to stabilize at some price before it can take off again in a meaningful way.

[Ray Anastasio]

no rebound till i finish my dumps

So, what are you doing, dumping as the price goes lower and lower to ensure you convert into less and less cash?

[fleabag]

i think there is some more to the downside. there is still alot of optimism ie"this is just normal behavor, charts etc" I think unless there is some unbelieveable news, i am thinking that there will have to be blood in the streets to start doing any type of serious buying. Kinda scary ALOT of people buying on the way down...hope your all right?

[tstang]

Personally,

Bitcoin started as proof of concept and mostly geeks are into it.

Then it grew big and financial people got into the bandwagon.

As with all financial instruments, speculation and hedging got into the game too.

Hence, price will move up and down.

The big boys will try to push up the price, and the rest of the boys will be chasing it. Then they will sell out (cash out), then there will be panic selling.  This is VERY COMMON in stock market .

There are two players in Bitcoin Price :

1. The Miners
2. The Traders.

Price will eventually stablised when it makes more sense to Trade rather than to mine. Anything BELOW that, is a BUY for Bitcoin, anything ABOVE that is speculative price.

This is the basic of ECONOMICS, DEMAND and SUPPLY curve.

[RyNinDaCleM]

Personally,

Bitcoin started as proof of concept and mostly geeks are into it.

Then it grew big and financial people got into the bandwagon.

As with all financial instruments, speculation and hedging got into the game too.

Hence, price will move up and down.

The big boys will try to push up the price, and the rest of the boys will be chasing it. Then they will sell out (cash out), then there will be panic selling.  This is VERY COMMON in stock market .

There are two players in Bitcoin Price :

1. The Miners
2. The Traders.

Price will eventually stablised when it makes more sense to Trade rather than to mine. Anything BELOW that, is a BUY for Bitcoin, anything ABOVE that is speculative price.

This is the basic of ECONOMICS, DEMAND and SUPPLY curve.

Dude! Are you going to spam this whole board with this?
https://bitcointalk.org/index.php?topic=250988.msg2670888#msg2670888

[fleabag]

are there really people with hundred's of thousands of dollars really trying to day trade bitcoins?  personally I dont think the risk is worth the reward on an unregulated market. if you buy 500 coins that is say $35000. you are paying a premium in the form of a dollar or two spread because it is so thinly traded and same on the back end when you sell. so you are basically down $1000 minimum on the spread buying and selling. so if has to go up $3 for you to make $1 on each coin. not worth it in my book.

[worldinacoin]

Better don't put all your eggs in one basket, just taken a look, price is now $69.50

[fleabag]

Better don't put all your eggs in one basket, just taken a look, price is now $69.50

starting to go up yay! now I just need to get back to $100 to break even.

[PerfectAgent]

The general trend is still down.

[elasticband]

http://www.google.com/trends/explore?q=xrp%2C+btc#q=bitcoin&date=1%2F2013%2012m&cmpt=q

google trends goin up

it's interesting to see the "avalon bitcoin" trend

[monkofnothing]

no rebound till i finish my dumps

I had a grandpa that talked about his daily dumps too. you either want everybody to think you have the power and the wealth or you are into punishing yourself and want everyone to think this down trend is your fault. It is my experience in these hills, movers and shakers operate in secret. It's the wanna bees that take the credit. And the real movers and shakers are fine with that.

[chriswilmer]

I think Coinsetter starting up in July is going to be a factor in this rebound.

Also looking forward to more announcements from Mt.Gox in the next week or two.

[prophetx]

i dont think we have hit a period of capitulation for the traders as of yet, and certainly not the miners. 

also we have to factor in a few things that are happening.

first, the velocity of money flowing between USD and BTC may have slowed down recently due to certain avenues becoming closed for people to buy into BTC

second, the money supply of dollars for btc which is manifested in spot price is decreasing to pay for all those ASICs being produced.


until those fundamentals change, and they will but not until end of summer or early fall, we will be stuck in this downtrend
 

[pera]

[...]
A massive rally in a bear market is likely a dead cat bounce(bull-trap). It most likely have to stabilize at some price before it can take off again in a meaningful way.

You are right except that we are not in a "bear market": this is just a drowned fish (bear-trap)

[freedomno1]

Rally 

[Kazu]

Can people please stop calling things bear-traps and bull-traps? Its really getting on my nerves. A bear can easily profit from a bear-trap by selling at the top and buying at the bottom and a bull can easily profit from a bull-trap by buying at the bottom and selling at the top. So honestly the entire thing of "your just buying into a bull trap or selling into a bear trap" is ludicrous considering you can actually make money by being 'trapped.'

[mufa23]

Rally 

Oohhhhh yeeeaaaaaahh! Everyone's starting to freak out on the btc-e chat.

[kleeck]

Rally  

Oohhhhh yeeeaaaaaahh! Everyone's starting to freak out on the btc-e chat.

Well there you have it, guys! BTC-E's troll box is exploding! Buy 'em while they're cheap!!!!

[mufa23]

Rally  

Oohhhhh yeeeaaaaaahh! Everyone's starting to freak out on the btc-e chat.

Well there you have it, guys! BTC-E's troll box is exploding! Buy 'em while they're cheap!!!!

Well now it's all about religion... Meh. But take a look at mtgoxlive right now!