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Author Topic: We've Reached the Top (Proof Inside)  (Read 3289 times)
kireinaha
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November 14, 2013, 09:35:40 PM
 #21

never once in history of humanity there has ever been an asset "Class" that is called bitcoin.

Penny stocks.

thanks for an idiotic response that obviously makes no sense

I don't think that's a fair retort. Bitcoin is a speculation investment right now, much in the same nature as penny stocks. Digital currency itself is new (kind of) but speculation is as old as the hills, and the rise and fall of the current market euphoria we're in will be no different.

I'm still waiting for the "internet" euphoria and fall to happen.  Any day now...

The Internet isn't an investment, it's a network of computers and routers  Roll Eyes I believe what you're thinking of is the dot com bust of the '90s.

Night gathers, and now my bitcoinwisdom watch begins.
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Xer0
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November 14, 2013, 09:36:13 PM
 #22

Analysts so: "Chart must follow Theroy X!" ... "No, it should follow by Theory Y!"

and Bitcoin just:
kireinaha
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November 14, 2013, 09:40:06 PM
 #23

Analysts so: "Chart must follow Theroy X!" ... "No, it should follow by Theory Y!"

and Bitcoin just:


haha, you're right, it is kind of a crapshoot. I just think it's an interesting pattern and the market so far this afternoon has been indicating that we're hitting a lot of resistance around $430. In any case, there should be some bearish forecasts to counteract all the "going to da moon" bull commentary.

Night gathers, and now my bitcoinwisdom watch begins.
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November 14, 2013, 09:40:44 PM
 #24

the only time we escape trading boundaries is during the night (in the US), which is mid-day in China.
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November 14, 2013, 09:43:54 PM
 #25

Analysts so: "Chart must follow Theroy X!" ... "No, it should follow by Theory Y!"

and Bitcoin just:


haha, you're right, it is kind of a crapshoot. I just think it's an interesting pattern and the market so far this afternoon has been indicating that we're hitting a lot of resistance around $430. In any case, there should be some bearish forecasts to counteract all the "going to da moon" bull commentary.
yean and every time the market does not give a single fork about what speculators, bulls or bears say  Grin
no matter what happens we are "wtf?" every time and still no one had really told the future yet  Cheesy
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November 14, 2013, 10:03:22 PM
 #26

There is also a good case to be made that we are still in Elliott Wave 3:



Wave three often extends wave one by a ratio of 1.618:1, so we could be close to the end of wave 3 now. Corrective wave 4 would not overlap wave 1 and is often less than 38% of wave 3, so a correction now from the high of 440 on MtGox would signal a strong buying opportunity between 260-300 USD on MtGox. Then wave 5 would extend the rally past todays' highs.

I was only measuring the current bull run that we're on, but if you're right that we're in wave three overall, that would be an unsettling thought, given that the Winklevoss twins believe we should be hitting $40,000 USD value per coin. I don't see how we could reach that if there's only wave 5 left to go.

Wave 5 is not the end.  After wave 5 comes the ABC corrective, and then we build a base before continuing with the next wave 1.  $40,000 may be be possible, but we won't get there in a straight line.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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November 15, 2013, 01:33:06 AM
 #27

The Internet isn't an investment, it's a network of computers and routers  Roll Eyes I believe what you're thinking of is the dot com bust of the '90s.

Bitcoin isn't an investment, it's a network of computers and routers that replaces money.

1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
djalexr
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November 15, 2013, 02:43:14 AM
 #28

Quote
Bitcoin isn't an investment, it's a network of computers and routers that replaces money.

+1

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November 15, 2013, 02:44:51 AM
 #29

If you're on the fence about investing, I'd recommend you wait it out a few more days to see what happens.

Hey, nice charts! Yes, wait this out for another week and you can get back in for $250.00!  Cheesy  Grin  Cheesy

"The Internet unshackled information, Satoshi Nakamoto unshackled money. And money makes the world go round."
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November 15, 2013, 03:14:35 AM
 #30

Elliot wave theory is junk. I believe that even Elliot admitted as much later in his life. Get out of denial. (Proof inside)

Someday, I will have an avatar, maybe.
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November 15, 2013, 03:30:46 AM
 #31

There is also a good case to be made that we are still in Elliott Wave 3:



Wave three often extends wave one by a ratio of 1.618:1, so we could be close to the end of wave 3 now. Corrective wave 4 would not overlap wave 1 and is often less than 38% of wave 3, so a correction now from the high of 440 on MtGox would signal a strong buying opportunity between 260-300 USD on MtGox. Then wave 5 would extend the rally past todays' highs.

It's just too bad your wave 1 is actually a wave 3 and we are now nearing either the top of 5 (anywhere here to the moon), or the top of the 1st subwave of 5 in which case, 5 will still go to the moon. But when this tops, <250 is very possible and even (dare I say?) Double digits are also possible. Oh, and use log charts

Edit:
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November 15, 2013, 03:37:32 AM
 #32

@Bitcoin BEAR

Well you mix an  bubble for a S-curve Smiley
watch this video to explain a S-curve.
so i see at max a small correction but not below the S curve....
http://www.youtube.com/watch?v=qHUPPYzzZrI




A s-curve is a natural phenomenon witch only occur in  defined natural spaces , bitcoin is such a defined space,




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