Momentum remains weak, price will dip again.

[AICoin_Official]

 Price receives more pressure from MA 5 this time and the momentum supporting price for an uptrend is obviously weakening, which can be seen as the signs bears are using up their bullets as strength of rallies after dips is becoming weaker and weaker. Your idea?‬

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[UnDerDoG81]

It wont recover until that MtGox dump situation is cleared. Nobody wants to buy expensive coins so that trustee dick can sell on a higher price.

[fabiorem]

Kobayashi didnt end his dumping. Theres 100k coins to go yet.

The market is immature, 1% of the supply can crash it, due to the exchanges not having any control to stop crashes.

Hope for the best, prepare for the worst. Maybe we will be around 10k for the entire year, but we can go to 2k in a couple of weeks too. Go long and dont despair.

[gilangIDR]

Price receives more pressure from MA 5 this time and the momentum supporting price for an uptrend is obviously weakening, which can be seen as the signs bears are using up their bullets as strength of rallies after dips is becoming weaker and weaker. Your idea?‬

It is very difficult to make a decision in these circumstances, bitcoin prices are always changing very quickly. Sometimes it decreases and makes us panic and a few moments later it can increase very quickly. I think we are in a difficult phase, for those who do not want to take risks then I think we should be calm and wait. There are still plenty of opportunities to get a much better chance, remember that we are in the development of digital currency so there are still many opportunities and there are still many opportunities that could happen in the future.

[alyssa85]

According to the following, it's a good time to buy bitcoin:

https://www.forbes.com/sites/chuckjones/2018/03/10/the-bitcoin-misery-index-bmi-is-flashing-a-buy-signal/#5be3e7a46a22

Tom Lee, Fundstrat Global Advisors' Head of Research, introduced a Bitcoin Misery Index, or BMI, on Friday. Lee describes the BMI as a proxy for how investors feel about Bitcoin’s “price action.” It is a numerical index that ranges from 0 to 100 and incorporates the win-ratio, or percentage of days that Bitcoin is up, and the upside less downside volatility.

The way to view the BMI is similar to the Relative Strength Index (RSI) or Moving Average Convergence/Divergence (MACD) that equity technicians use to determine if a stock or Index is oversold or overbought. When the reading is low, such as close to or below 30 for the RSI, it tends to show an oversold condition. When the reading is high, close to or above 70 for the RSI, it tends to indicate an overbought condition (see the chart at the end of this note for these indicators as they relate to Bitcoin).

Lee’s trigger points for Bitcoin are 27 for a Buy signal and 67 for a Sell signal. The BMI is currently at 18.8, the lowest point since 16.2 in September 2011 .

[pereira4]

It wont recover until that MtGox dump situation is cleared. Nobody wants to buy expensive coins so that trustee dick can sell on a higher price.

Well, according to recent developments, somebody is buying in and is buying in bigly:




This huge buy order must be some whale picking up the cheap coins, because most likely the trustee from the MtGox already got told to either stop dumping on the markets or else he'll end up dead. Not worth it to be rich when you are dead isn't it?

Now we are most likely going to see a recovery. There's the possibility that a bunch of idiots still keep panic selling nonetheless until an official statement by the Japanese government about their trustee going OTC is made tho, but you make money when you buy, you can't wait for the news to hit.

[BrewMaster]

i wouldn't call this weak, it is more like uncertainty than weakness. all thanks to the KobayashiGox FUD that is creating panic. the X and Y banned bitcoin news got old so a new type of FUD surfaced...

The market is immature, 1% of the supply can crash it, due to the exchanges not having any control to stop crashes.

1% of supply is nearly 170k BTC which is worth nearly $1.7 billion! if we were at a point where dumping 1% of supply on the market crashed it then it would have been awesome. if such amounts are dumped on the market price will go to $10 area. it may not last there but it will certainly drop that low!

[UnDerDoG81]

It wont recover until that MtGox dump situation is cleared. Nobody wants to buy expensive coins so that trustee dick can sell on a higher price.

Well, according to recent developments, somebody is buying in and is buying in bigly:




This huge buy order must be some whale picking up the cheap coins, because most likely the trustee from the MtGox already got told to either stop dumping on the markets or else he'll end up dead. Not worth it to be rich when you are dead isn't it?

Now we are most likely going to see a recovery. There's the possibility that a bunch of idiots still keep panic selling nonetheless until an official statement by the Japanese government about their trustee going OTC is made tho, but you make money when you buy, you can't wait for the news to hit.

Or he crashed the market and buys back to start a bull run to sell further later.

If so, Karpeles would be death long time ago.

[fabiorem]

1% of supply is nearly 170k BTC which is worth nearly $1.7 billion! if we were at a point where dumping 1% of supply on the market crashed it then it would have been awesome. if such amounts are dumped on the market price will go to $10 area. it may not last there but it will certainly drop that low!

Thats why more and more people will call for regulation of the exchanges.

If the exchanges have a mechanism limiting the volatility to 20%, price might not go down so fast and to such low price.

Hodl is just a meme. You can hold your bitcoins in your wallet, sure, but the price is decided by the volume in the exchanges, not the one we hold in our wallets. Contrary to what I believed early, the volume outside the exchanges have no impact in the price.

Since there's no safe exchange around, we will continue with this situation for years, until we have decentralized exchanges (stored in a exclusive blockchain, and already with code to limit the volatility) or governments step in and regulate the centralized ones. I would go for the first option, since in that case, the volume outside the exchanges would have a impact in price, as this trading blockchain could be stored next to your bitcoin wallet.

[jtipt]

It wont recover until that MtGox dump situation is cleared. Nobody wants to buy expensive coins so that trustee dick can sell on a higher price.

Yeah probably. It's a quite market for now I would say, as a holder I don't have any fear of this situation because form the looks of it o would say we will back to 12-13k in couple of weeks.

[cryptocrusher]

1% of supply is nearly 170k BTC which is worth nearly $1.7 billion! if we were at a point where dumping 1% of supply on the market crashed it then it would have been awesome. if such amounts are dumped on the market price will go to $10 area. it may not last there but it will certainly drop that low!

Thats why more and more people will call for regulation of the exchanges.

If the exchanges have a mechanism limiting the volatility to 20%, price might not go down so fast and to such low price.

Hodl is just a meme. You can hold your bitcoins in your wallet, sure, but the price is decided by the volume in the exchanges, not the one we hold in our wallets. Contrary to what I believed early, the volume outside the exchanges have no impact in the price.

Since there's no safe exchange around, we will continue with this situation for years, until we have decentralized exchanges (stored in a exclusive blockchain, and already with code to limit the volatility) or governments step in and regulate the centralized ones. I would go for the first option, since in that case, the volume outside the exchanges would have a impact in price, as this trading blockchain could be stored next to your bitcoin wallet.

While the ones people hold don't have a direct influence on the price they definitely have an indirect one because they in essence reduce the circulating supply and lower the sell pressure on the market.

How would an exchange limit volatility? That sounds like a move against the free market which I don't think is something we will and ever should see.

At a maximum we might one day see something similar to the stock markets where by the market can be closed for a day in times of great panic but I also don't think we'll ever even reach such a stage given at cryptocurrencies core they are decentralized.

[UnDerDoG81]

It wont recover until that MtGox dump situation is cleared. Nobody wants to buy expensive coins so that trustee dick can sell on a higher price.

Yeah probably. It's a quite market for now I would say, as a holder I don't have any fear of this situation because form the looks of it o would say we will back to 12-13k in couple of weeks.

Me is holding as well. I don´t care in long term. But it would hurt a lot if this trustee drops the price to 2k or lower. Bitcoin had enough damage from MtGox, they finally should die.

[fabiorem]

That sounds like a move against the free market which I don't think is something we will and ever should see.

If a old bitcoin whale make death threats to Kobayashi, would that be against free market as well?

[BitcoinPanther]

It wont recover until that MtGox dump situation is cleared. Nobody wants to buy expensive coins so that trustee dick can sell on a higher price.

True, if I am one of the buyer, I would literally wait for the Mt. Gox dump to happen because I wanted to buy Bitcoin in lower price.  This kind of situation sucks for Bitcoin economy, though a good opportunity to those new comer to join the Bitcoin market.  This will be just wait and see stuff, and that is the reason why buy support had been pulled out.

[peter0425]

It wont recover until that MtGox dump situation is cleared. Nobody wants to buy expensive coins so that trustee dick can sell on a higher price.

True, if I am one of the buyer, I would literally wait for the Mt. Gox dump to happen because I wanted to buy Bitcoin in lower price.  This kind of situation sucks for Bitcoin economy, though a good opportunity to those new comer to join the Bitcoin market.  This will be just wait and see stuff, and that is the reason why buy support had been pulled out.

Well he has been dumping it since December that's why the price goes down from the December high. And he will continue to dump as it was reported he still have like 1.7B to dump. If he we dump it in the next couple of months they bitcoin will be go down and another good buying point.

Its turning ugly but what can we do? Nobody can talk this guy out from completely dumping and putting pressure on the already volatile market.

[arseaboy]

It wont recover until that MtGox dump situation is cleared. Nobody wants to buy expensive coins so that trustee dick can sell on a higher price.

Yeah probably. It's a quite market for now I would say, as a holder I don't have any fear of this situation because form the looks of it o would say we will back to 12-13k in couple of weeks.

Positive approach over the negative things which is still ongoing inside the market, though I also believe that the market will recover anytime soon
even the spread of this new negative news about mt.go spreads out all over the sphere, traders will have their owned different points of view and different approach regarding to this ongoing situation, better to aim for long term unless you can predict properly with sudden downfall still ongoing.

[alyssa85]

Well he has been dumping it since December that's why the price goes down from the December high. And he will continue to dump as it was reported he still have like 1.7B to dump. If he we dump it in the next couple of months they bitcoin will be go down and another good buying point.

Its turning ugly but what can we do? Nobody can talk this guy out from completely dumping and putting pressure on the already volatile market.

He doesn't have $1.7 bn to dump!

MtGox went bankrupt in August 2014, when the price was $487 per bitcoin, which meant the total liabilities were about $400 million.

The trustee has sold just enough to meet all those liabilities. The rest of the coins belong to Karpeles who won't dump them.

[usekevin]

Price receives more pressure from MA 5 this time and the momentum supporting price for an uptrend is obviously weakening, which can be seen as the signs bears are using up their bullets as strength of rallies after dips is becoming weaker and weaker. Your idea?‬

I won't Accept your point buddy.Bitcoin had lot of investors as compared to all the crypto currency.Just now,the price of bitcoin enter the range of 9600$.So by tomorrow the price of bitcoin will get back to 10,000$ and the it will aim the 12-13k mark.This type of minor fluctuations is very common in digital currency.

[UnDerDoG81]

Well he has been dumping it since December that's why the price goes down from the December high. And he will continue to dump as it was reported he still have like 1.7B to dump. If he we dump it in the next couple of months they bitcoin will be go down and another good buying point.

Its turning ugly but what can we do? Nobody can talk this guy out from completely dumping and putting pressure on the already volatile market.

He doesn't have $1.7 bn to dump!

MtGox went bankrupt in August 2014, when the price was $487 per bitcoin, which meant the total liabilities were about $400 million.

The trustee has sold just enough to meet all those liabilities. The rest of the coins belong to Karpeles who won't dump them.

I could swear you they knew this weak Japanese law and they planned it all along. Stealing all coins. Saying Gox got hacked. Wait 5 years, sell at 20x of the price, pay that $400 million (wich is a joke now) and then keep all the remaining coins. I hope this fat ugly asshole will burn in hell, even though I don´t believe in hell. It only needs one crazy guy to see him on the street and sent him there... I only lost 0.5 Bitcoins there because I was lucky and moved all bought coins to bitstamp at that time. But I can feel the pain from all the people who lost their coins to this disgusting piece of shit.

[1Referee]

So by tomorrow the price of bitcoin will get back to 10,000$ and the it will aim the 12-13k mark.

The main level to beat in the very short term is $11,780, which may seem to be an easy target, but let he market not fool you into thinking so, because just around the $12,000 level we will face another resistance level that may turn out to be hard to break through. Only if we demolish $12,000 comfortably, I believe in the market to at least test the $13,000 level. That being said, it may very well be that we're stuck in a long term repetitive $8300-$12,000 range. If that's the case, we basically need a bullish trigger to give the market the incentive to move up. I honestly don't really mind a 'slower' market, especially with how we don't know how many more MtGox coins will get randomly dumped. We will only know when they officially announce a next statement explaining their actions. Even if there aren't any MtGox being dumped on the market, just the fact that this thought circulates in people's minds is enough already to demotivate them.