Have we hit bottom?

[phelix]

http://www.google.com/trends/explore#q=bitcoin&date=today%203-m&cmpt=q

http://stats.grok.se/en/latest90/bitcoin

[1714957683]

1714957683

[HeliKopterBen]

Most likely.  Its been 4 months since the low of 50 which is an eternity in this fast moving market.  Volumes are increasing on up moves.  downtrend channel broken. 200 dma held (but could be broken without a new low).  It would take almost a 60% drop from here to breach 50.  However this is a fast moving market so a drop below 50 would not be out of the question.

[FNG]

I think bottom was confirmed a bit over a month ago. I find it hard to believe you guys are still waiting.

[lucas.sev]

I think bottom was confirmed a bit over a month ago. I find it hard to believe you guys are still waiting.

there was no capitulation

[Wekkel]

I think bottom was confirmed a bit over a month ago. I find it hard to believe you guys are still waiting.

there was no capitulation

Indeed, from a larger time frame perspective bottom could still happen, but price development proves complex right now.

[Tzupy]

I think bottom was confirmed a bit over a month ago. I find it hard to believe you guys are still waiting.

there was no capitulation

I believe we had capitulation (of the previous bubble period) ending around July 5th.
Capitulation in the current bubble period has yet to come, and then bears will rejoice.  

[chriswilmer]

I think bottom was confirmed a bit over a month ago. I find it hard to believe you guys are still waiting.

there was no capitulation

Indeed, from a larger time frame perspective bottom could still happen, but price development proves complex right now.

If you want to play the long time frame game (LTFG), then capitulation occurred Nov. 15th, 2011, and we have been on an upswing ever since

[phelix]

I think bottom was confirmed a bit over a month ago. I find it hard to believe you guys are still waiting.

there was no capitulation

My guess is that everybody expected it so it did not come (so far).

[Walsoraj]

I think bottom was confirmed a bit over a month ago. I find it hard to believe you guys are still waiting.

there was no capitulation

there has been much capitulation, at least once a week, maybe every day. Bitcoin is like wolverine.

[young3dvard]

There is newer a bottom

[JimboToronto]

I think bottom was confirmed a bit over a month ago. I find it hard to believe you guys are still waiting.

there was no capitulation

I think what we saw in the first few days of July was capitulation within the confines of the MtGox fiasco.

There wasn't the opportunity for a complete sell-off. Conventional wisdom may have called for a lower bottom, but circumstances prevented it.

Just my opinion.

[anu]

I think bottom was confirmed a bit over a month ago. I find it hard to believe you guys are still waiting.

there was no capitulation

That would be because we are not at the end of the bubble life cycle - we are at the beginning, at bear trap.