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Author Topic: Once I was saying that big holders were always prepared to slash the market  (Read 1520 times)
qikaifu
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July 17, 2011, 04:38:45 AM
 #1

but some idiot just did not understand what I mean, or so naive to believe that the big holders won't do this because some reasons. Some evil guys were scaring people that if you don't buy now you will miss the train forever.

Now just see the 6000 bitcoins which were sold in a flash. Every one knows that the USD inflow is weak in weekends, but the holder just chose to do this. It's his freedom, he want to cause panic for him buying back lower or he just want to cash out at this price and to prove that he is smart to leave at this price and everyone else is idiot, or the 13.5 bid wall and the big seller was just the same trader. who knows? but it's not smart for you to believe that he wouldn't do this. If some one follow my suggestion, they at least have the choice to buy at 13.5, 1$ lower than days ago.

So, if you still have USD prepared to invest in bitcoin, patience is still my suggestion. Just buy a little at first, then another trade at the other day when it crashes. Never all-in at a single trade.

And panic is not good for you right now. Panic is the method to keep us human being safe in the jungle at ancient age. It's not the method to protect us in modern financial market, but calmness, patience and insight into long-term. the market maybe even lower, but sell at this price is not a good choice, too. If you have bitcoins, just hold it. If you have USD, just hold it and buy in bitcoins with patience. never do panic buying and selling.


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Bitcoin Swami
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July 17, 2011, 05:08:32 AM
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How do I know that seller isn't you?  Huh
Vandroiy
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July 17, 2011, 10:35:16 AM
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Speculating on a small market with running costs is a zero-sum game at best. Choosing the time or time-span to act is part of it. We've seen times at which patience was the right choice, but similarly often, we've seen the impatient profit most. It shouldn't be possible to make a general rule for speculators. If everybody follows it, those acting ahead of them will be the big winners.

The "weekend dip" thing also has become a pure psycho-game. Everybody knows about it, fluctuations in volume should dwarf it, and it's generally not much of a model. The herd believes it though, so just before and after weekends, we sometimes see strange extra movement.

I really like what you said about people implying "if you don't buy now you will miss the train forever". I think this was integral to what happened with Bitcoin price. People literally panicked that they would miss out on their chance to get a hold of Bitcoins. The upward rallies always happened in such a frenzy, even the latest ones, it's hard to imagine that people were thinking calmly at the time.
Bitman_Begins
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July 18, 2011, 05:30:04 PM
 #4

Yes, I agree with Einsten. Best to stick, and sell of when it reaches 16-20. Buy in NOW, whilst they are cheap. I know a few weeks ago it was at least 9 GBP to get them for about a fortnight, so go figure..  Grin We are in a lul, why does everyone always think it's time to flee?...

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proudhon
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July 18, 2011, 05:41:18 PM
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Yes, I agree with Einsten. Best to stick, and sell of when it reaches 16-20. Buy in NOW, whilst they are cheap. I know a few weeks ago it was at least 9 GBP to get them for about a fortnight, so go figure..  Grin We are in a lul, why does everyone always think it's time to flee?...

And this is exactly why this very cool project probably won't make it.
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