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Author Topic: Time to buy on the MyBitcoin News?  (Read 2119 times)
Bitcoin Swami
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August 05, 2011, 04:33:29 AM
 #1

Yeah No?
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fcmatt
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August 05, 2011, 04:43:21 AM
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no.. the mybitcoin news just accelerated the down trend that was going to happen anyway.
single digits is the buy point but one has to pick their poison at what digit it will be. 8 is popular.
Bitcoin Swami
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August 05, 2011, 04:59:08 AM
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no.. the mybitcoin news just accelerated the down trend that was going to happen anyway.
single digits is the buy point but one has to pick their poison at what digit it will be. 8 is popular.

So is Brittney spears.
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August 05, 2011, 05:27:59 AM
 #4

What's the rush?  If the bulls were going to drive this back to 14 they'd have done it by now.  I suspect we'll be in a 10-11 trading range for a bit before drifting lower.

In other words, 11 is the new 14. 

A bit upset I missed the 14 this weekend for dumping, but them's the breaks.  Selling what I mined at 11 because I'm sure I'll get more at 8-9.  Or even 5-6.  Too many bulls around, this is nowhere near capitulation needed before we have the next runup.  I think we have another month or two of slow pain before then.
Bitcoin Swami
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August 05, 2011, 05:31:16 AM
 #5

What's the rush?  If the bulls were going to drive this back to 14 they'd have done it by now.  I suspect we'll be in a 10-11 trading range for a bit before drifting lower.

In other words, 11 is the new 14. 

A bit upset I missed the 14 this weekend for dumping, but them's the breaks.  Selling what I mined at 11 because I'm sure I'll get more at 8-9.  Or even 5-6.  Too many bulls around, this is nowhere near capitulation needed before we have the next runup.  I think we have another month or two of slow pain before then.


No rush, its just exciting when the market is rockin upward.  Bear markets are so boring, like watching 2 midgets mate.
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August 05, 2011, 05:41:51 AM
 #6

What's the rush?  If the bulls were going to drive this back to 14 they'd have done it by now.  I suspect we'll be in a 10-11 trading range for a bit before drifting lower.

In other words, 11 is the new 14. 

A bit upset I missed the 14 this weekend for dumping, but them's the breaks.  Selling what I mined at 11 because I'm sure I'll get more at 8-9.  Or even 5-6.  Too many bulls around, this is nowhere near capitulation needed before we have the next runup.  I think we have another month or two of slow pain before then.

We are def in rally mode right now, we hit unprecedented lows, and miners are starting to get the hang of trading...

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August 05, 2011, 05:46:20 AM
 #7

Oh, I find it QUITE exciting.  Everyone's standing near the exit, expecting the pyramid to collapse at any moment.  People follow the bear leadership with wild abandon, the bull part not so much.   How about that bearish divergence on the volume and MACD both in the past 2 days vs anemic rally we're in?

This beats the multi-weak paralysis and flatline on every indicator handily.  Now *THIS* is an emotion driven market I can trade.



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August 05, 2011, 05:48:03 AM
 #8

We are def in rally mode right now, we hit unprecedented lows, and miners are starting to get the hang of trading...

lol..pretty stagnant rally  Roll Eyes

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August 05, 2011, 05:50:06 AM
 #9

We are def in rally mode right now, we hit unprecedented lows, and miners are starting to get the hang of trading...

lol..pretty stagnant rally  Roll Eyes
Where do you think our bottom lies?

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grod
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August 05, 2011, 05:50:36 AM
 #10

We are def in rally mode right now, we hit unprecedented lows, and miners are starting to get the hang of trading...

lol..pretty stagnant rally  Roll Eyes

I believe the word he was looking for was "dead cat bounce", but hey.  Any rally in a storm.
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August 05, 2011, 06:01:47 AM
 #11

the dead cat first has to tuch the floor to bounce.
floor<1$

weve seen it at mtgox crash, but on the floor was a trampoline....

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August 05, 2011, 07:30:57 AM
 #12

We are def in rally mode right now, we hit unprecedented lows, and miners are starting to get the hang of trading...

lol..pretty stagnant rally  Roll Eyes
Where do you think our bottom lies?

I have no idea but I'm beginning to wonder if the bottom will not come until there has been a major redistribution of the wealth. We may also hit several false bottoms on the way down. Of course I could be wrong too.

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August 05, 2011, 10:45:54 AM
 #13

I seriously doubt a price lower than $9 unless there is a further decrease in rate of adoption and more bad news. Right now some good news (such as restored sepa-transfers, new client with encryption etc) could actually start a real rally. In this situation there is not going to be any rallies out of thin air, something concrete needs to happen, a positive signal of some sort. And the most useful signals are those that actually help people participate better (like the two issues I mentioned).

Google trends is going up right now, add some good news in the mix and we will have a real rally. But not before that, so let's just wait.

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August 05, 2011, 05:23:14 PM
 #14

We are def in rally mode right now, we hit unprecedented lows, and miners are starting to get the hang of trading...
I don't think we are in rally mode, but I sure did learn how to trade over the last couple days through the craziness.  Made a couple % here and there.
fcmatt
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August 06, 2011, 05:20:51 PM
 #15

no.. the mybitcoin news just accelerated the down trend that was going to happen anyway.
single digits is the buy point but one has to pick their poison at what digit it will be. 8 is popular.

So is Brittney spears.

that value of 8 i mentioned was a low reached a few days ago... and here it is again. very popular.
it is not a bad time to buy hoping it will stretch back up to 10 in a few days.. until the market realizes
it really was worth single digits.
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August 06, 2011, 05:36:34 PM
 #16

the dead cat first has to tuch the floor to bounce.
floor<1$

weve seen it at mtgox crash, but on the floor was a trampoline....

This wasn't real crash, one guy tried to sell everything from hacked gox account and he failed.

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August 06, 2011, 06:19:40 PM
 #17

To be honest, I'm surprised we took this long to reach single digits.  I thought we were going to hit sub $10 in less than 2 weeks after the $30 bubble (dead cat bounce), and then the Gox hax came around and I was sure sub $10 was right around the corner.  I was wrong, and it took quite a lot longer.  But it still got there.

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mjoz
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August 07, 2011, 12:25:39 AM
 #18

I wonder how many of these coins flooding the market are the coins liberated from mybitcoin users.
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August 07, 2011, 01:12:20 AM
 #19

I wonder how many of these coins flooding the market are the coins liberated from mybitcoin users.

Oh, those were sold already. These are panicky sellers who mistakenly think something is wrong with Bitcoin itself. Get out and stay out!

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Piper67
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August 07, 2011, 02:02:29 AM
 #20

I wonder how many of these coins flooding the market are the coins liberated from mybitcoin users.

No way of knowing, but if I was Tom Williams and had lots of BTC to manipulate the market, I'd trigger a massive sale, but back when cheap, claim that "most" of the mybitcoin BTC are still safe, then enjoy the free money I just made.
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