Bearish outlook for next few weeks... (or bullish?)

[accord01]

That panel is tough, you have 3-4 people against bitcoin from major agencies, and 3 for bitcoin from very minor agencies.  Also, this huge pump into the market right before the hearing and then followed by a bearish hearing will cause prices to correct sharper.  It was extremely overbought in the last few days.


Panel One:
Jennifer Shasky Calvery
Treasury Department - Financial Crimes
Enforcement Network Director

Mythili Raman
Acting Assistant Attorney General
Criminal Division

Edward Lowery
Secret Service – Criminal Investigative Division
Special Agent in Charge

Panel Two:
Ernie Allen
Int’l Centre for Missing & Exploited Children
President & CEO

Patrick Murck
Bitcoin Foundation General Counsel

Jeremy Allaire
Circle Internet Financial CEO

Jerry Brito
George Mason University Mercatus Center
Technology Policy Program Director

[the_sunship]

they are against bitcoin? or against operations which use bitcoins for illegal use?

big difference...

[accord01]

well not against it, but not promoting it like the bitcoin foundation obviously.  i think i might short a position just to insure i don't lose much if it corrects too much.

[freebird]

I'm watching the live video of the Senate hearing right now: http://www.c-span.org/Live-Video/C-SPAN3/

So far, I haven't heard any of the panelists say anything that would be a threat to bitcoin. In fact, all of them have said that it's a legitimate financial innovation. They talk about combating crime, but they say that bitcoin itself is totally legal. Sounds bullish to me.

[accord01]

oh my goodness, why did I short it?? WHY???

bitcoin is looking too bullish after hearing these people talk.

[Tzupy]

Relax man, tomorrow things may look different.
What would be bullish: to have a bid sum larger than when the price was at 450$, but it's about the same, and the price is still 665$.

[humanitee]

bitcoin is looking too bullish after hearing these people talk.

Bullish? It seems you people are not aware of what it means for Bitcoin when those people speak in terms of "We can take care of it".
Forget about making Bitcoin addresses when you see fit. Forget about earning bitcoins without government knowing you made them.

I think you are speculating a little too hard.

[antimattercrusader]

That panel is tough, you have 3-4 people against bitcoin from major agencies, and 3 for bitcoin from very minor agencies.  Also, this huge pump into the market right before the hearing and then followed by a bearish hearing will cause prices to correct sharper.  It was extremely overbought in the last few days.


Panel One:
Jennifer Shasky Calvery
Treasury Department - Financial Crimes
Enforcement Network Director

Mythili Raman
Acting Assistant Attorney General
Criminal Division

Edward Lowery
Secret Service – Criminal Investigative Division
Special Agent in Charge

Panel Two:
Ernie Allen
Int’l Centre for Missing & Exploited Children
President & CEO

Patrick Murck
Bitcoin Foundation General Counsel

Jeremy Allaire
Circle Internet Financial CEO

Jerry Brito
George Mason University Mercatus Center
Technology Policy Program Director

I did not take it that way, thus far at least.