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TERA
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October 25, 2013, 07:05:06 AM |
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I'm getting the impression someone is needing to offload about 100,000btc and is doing it somewhat carefully.
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Tzupy
Legendary
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Activity: 2128
Merit: 1074
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October 25, 2013, 07:11:42 AM |
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If someone would want to sell 100k we'd see a huge drop. This is just normal market behavior, with rather low seller pressure (for now, it may pick up).
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Sometimes, if it looks too bullish, it's actually bearish
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greaterninja
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October 25, 2013, 07:24:03 AM |
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There are groups of people trying to spook the market. They sell in increments of btc and someone else buys it up, then it spooks the rest of the market into selling more. Like a snowball running down a hill. Then that person uses this cash to buy up the btc at a far lower price. They are doing to this to make significant profit fast.
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Valerian77
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October 26, 2013, 04:50:31 PM |
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There are groups of people trying to spook the market. They sell in increments of btc and someone else buys it up, then it spooks the rest of the market into selling more. Like a snowball running down a hill. Then that person uses this cash to buy up the btc at a far lower price. They are doing to this to make significant profit fast.
Not sure if the market is big enough for that. Finally it works only if the snowball starts rolling else they just loose money. And the Bitcoin seems to be quite stabil even after news like Silkroad shutdown. |
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rpietila
Donator
Legendary
Offline
Activity: 1722
Merit: 1036
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October 26, 2013, 05:08:06 PM |
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Since the rise was quite fast, there is room for a drop. I believe we are in a mid-trend Fibonacci correction mode, which should take us to revisit $150-$155 before 7 days have passed. Once this is consummated, we will take the old ATH.
The moving averages are now higher than ever. The April top of $266 was so sharp that the exact figure does not matter too much. The current hurdle is for overcoming the ATH.
After clearing it, I would not be surprised to see a double to $500 before the next small correction. At any rate, our think tank estimate is that Bitcoin will reach $2000 in maximum 8 months.
Any correction less than 35% can be a mid-move shakeout. Never sell low. I exhort to just buy and not sell, until you can drop from work and start living with your bitcoins.
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HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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BitPappa
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October 26, 2013, 06:59:16 PM |
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At any rate, our think tank estimate is that Bitcoin will reach $2000 in maximum 8 months.
Well that sure would be nice! If that happens, I'll be sure to come back to note and praise the accuracy of your optimistic prediction! |
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fallinglantern
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October 26, 2013, 07:07:21 PM |
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At any rate, our think tank estimate is that Bitcoin will reach $2000 in maximum 8 months.
My own analysis (e.g. drawing a line on a log chart based off historical numbers) resulted in $1400, 1 year from today. I like your optimism though  |
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bnjmnkent
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October 26, 2013, 07:12:37 PM |
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I would be interested in mathematical formulae/methods used or generated by this think tank.
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renaxi
Member
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Activity: 113
Merit: 10
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October 27, 2013, 12:40:52 AM |
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This isn't a bubble, just a increase in price...
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BitChick
Legendary
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Activity: 1148
Merit: 1001
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October 27, 2013, 03:56:49 AM |
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Since the rise was quite fast, there is room for a drop. I believe we are in a mid-trend Fibonacci correction mode, which should take us to revisit $150-$155 before 7 days have passed. Once this is consummated, we will take the old ATH.
The moving averages are now higher than ever. The April top of $266 was so sharp that the exact figure does not matter too much. The current hurdle is for overcoming the ATH.
After clearing it, I would not be surprised to see a double to $500 before the next small correction. At any rate, our think tank estimate is that Bitcoin will reach $2000 in maximum 8 months.
Any correction less than 35% can be a mid-move shakeout. Never sell low. I exhort to just buy and not sell, until you can drop from work and start living with your bitcoins.
Sounds great. We are hoping to pick up a few more coins in the next week hopefully but would love to buy at $150 or even $160. Sounds high now but I guess that it might be a great price in the big scheme of things. I love all your posts BTW! You have such great insight and seem to be able to remove emotion and have a logical and methodical outlook on it all. |
1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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rpietila
Donator
Legendary
Offline
Activity: 1722
Merit: 1036
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October 27, 2013, 10:12:12 AM |
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Have you looked into master coins ( see my signature), what do you think of it?
I haven't made my mind yet. I am not early adaptor type, but when I buy, I buy big |
HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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