So I guess we're going back up?

[600watt]

falle = trap

[MatTheCat]

I hope it's a big bull trap 

BTCChina is leading the way. And it looks like a bull trap. Started @ 4200 CNY , probably going till 5500 CNY

So do, but only so I can buy back in at lower values, which will still be much higher than what I sold at.

I have been bullish on Bitcoin since Sept 2013 when I bought some for speculative purposes for first time (b4 then, hundreds of the things were going through my account and onto Silk Road....makes me sick looking at the transaction history in my wallet)

Anyway, I was bullish, but cashed out when I had trebled my money, but immediately regretted doing so and had wired a much larger sum of money to Bitstamp back when Bitcoin was still around $400, intending to buy in and cash back out at around $600. Thus, I remained bullish on Bitcoin right up until the eve of the crash, where the parabolic chart behaviour turned me bearish. After getting the usual ridicule and 'face palms' from the usual retards, Bitcoin did indeed crash....

...But.....

Can I honestly say that this feels like a dead cat bounce?

No, I can't.

Perhaps because so many people, like myself, believe that these spikes and flash crashes are going to keep on occurring in Bitcoin, so many people believe that there is huge upside still to be made in Bitcoin and therefore the speculative capital is preventing the usual post bubble scenario from setting in. I am also a firm believer that Bitcoin is a highly manipulated market and that there are people with the buying/selling power to drive this market around like a bitch.

For this reason, I at this point in time, am like a animal frozen in headlights. Bitcoin could hit further astronomical heights very soon, or it could take another flash crash short of the previous highs, which surely would result in a near term bear scenario where prices would have to stabilise before green shoots could come again.

The Silver price history chart provides a great example of a burgeoning asset that takes a whack down, yet seems like it is heading straight back up, only to take another whack down...wash rinse repeat:

[sgbett]

I dunno, silver chart looks like a run up and multi year correction to me on that scale.

I think BTC has several to 20 years of run up to come before the final big multi year correction, after which it will find its value and subsequently trade very much like a metal (i.e. subject to the whim of the market, and the pressure of devaluation of fiat through inflation)

Thats the 20-30 year outlook though!

[antimattercrusader]

I hope you all took the opportunity to buy, because it will be a long time before we see $500 again.

First rule of Bitcoin: The more more often people say it won't happen, it happens.

lol, one of the only true predictions/assumptions on this thread.

[TERA]

Bitcoin will keep going up as long as these massive fiat injections keep coming into the exchanges. The whales will wait until it stops to dump so they can take maximum profits.

[glub0x]

I hope you all took the opportunity to buy, because it will be a long time before we see $500 again.

First rule of Bitcoin: The more more often people say it won't happen, it happens.

lol, one of the only true predictions/assumptions on this thread.

Makes sense to me

[kireinaha]

I hope it doesn`t rise or otherwise that means coinbase will cancel my order from a couple days ago. 

[PenAndPaper]

The Silver price history chart provides a great example of a burgeoning asset that takes a whack down, yet seems like it is heading straight back up, only to take another whack down...wash rinse repeat:

What is your point with the wash rinse repeat? That we should buy silver? 

[MatTheCat]

The Silver price history chart provides a great example of a burgeoning asset that takes a whack down, yet seems like it is heading straight back up, only to take another whack down...wash rinse repeat:

What is your point with the wash rinse repeat? That we should buy silver? 

Actually, silver is in such doledrums with miners no longer able to operate at a proft, that the price of silver must surely be over depressed, i.e. an excellent long term buying opportunity.

My point was that just cos a market makes a quick recovery, and it seems that the crash was infact just a correction, doesn't necessarily make it so, as the silver chart shows, albeit over a longer (read: normal) time scale.

[eindbaas]

Its going up