Bitcoin on cover of time magazine

[Steveia]

1) double top at ~1200, closing in on triple top

2) no more money coming in from china

3) latest rally/bounce overbought like crazy

4) over 7 million bought is funds from bitfinex leveraged positions going long.

5) There is absolutely not enough new money to sustain this rally...

6) heavy hitters have their fingers ready for the trigger, as well as smart bulls and all the bears.

If you look at the price since the initial drop to about $500.00, the price has been steadily rising every day by about $100.00. At times, the price is stagnant. It is not moving upward like it was before the most recent drop. It seems people are less confident buying at these prices as they were heretofore the drop.

Not sure, but I suspect it will either drop or go up.

I know, you can't go wrong with such a statement.

In all truth, though, part of me thinks bitcoin will not drop again without some negative press. I fear bitcoin is very susceptible to a collapse if news out of the EU severely limits bitcoin, which can put a heavy strain on Bitstamp and BTC-e. If those two exchangers are hurt via political or economic legislation by the EU, Bitcoin will drop under $100.00 and will sink like the Titanic.

Bitcoin will not die and will rise again.

These are birth pangs.

Remember, you cannot rise to the top without stepping on a few toes.

[User705]

see you at $4,000

Didn't "someone" just buy a Lambo with BTC.  That "someone" must not think we'll see $4000 that soon.   

[accord01]

sigh.

[BitcoinTraderFX]

I did notice that bitcoin does behave a little differently when approaching prior points of resistance. It seems to push through those points with more emphasis than I've seen on other markets.

cj

[Jrock]

see you at $4,000

Didn't "someone" just buy a Lambo with BTC.  That "someone" must not think we'll see $4000 that soon.   

Or maybe they just know when to treat themselves with all the profit they made instead of sitting on it forever.

[Peter R]

see you at $4,000

Didn't "someone" just buy a Lambo with BTC.  That "someone" must not think we'll see $4000 that soon.   

Sometimes you just have to rebalance your portfolio.

[Spaceman_Spiff]

see you at $4,000

Didn't "someone" just buy a Lambo with BTC.  That "someone" must not think we'll see $4000 that soon.   

Sometimes you just have to rebalance your portfolio.

i needed to adjust that before the end of the tax year. im still long crypto, that lambo was not even a dent in my stack.

I suspect there will be a lot of adjusting before the end of the tax year. I think this will keep things in check until then. After that, well...

What kind of adjusting would this entail? I am somewhat unfamiliar with tax laws.

[RenegadeMind]

see you at $4,000

Didn't "someone" just buy a Lambo with BTC.  That "someone" must not think we'll see $4000 that soon.   

A Tesla from a Lambo dealer. But, 6 of 1...

See you at $40,000. 

[BittBurger]

What news preceded the crash at 266?

Kind of comparing apples to oranges.
At that stage, there weren't thousands of people who knew nothing about Bitcoin, currently invested.
People who run for the hills based on random bad press, because they comprehend nothing about Bitcoin itself.
My statement that crashes only happen with bad press, only applies to the current bitcoin scene.
Back at 266 it was a whole different culture. 
But apparently something did happen to cause the crash.
(hard fork and gox problems? - im quoting people).

Since then however, its been 100% bad press that has caused panic sells.
With one caveat:  Those who sell at arbitrary high limits.
I predicted we'd have a much bigger crash after hitting $1,000 because so many ... many people would cash out at that point.
Its just a nice, round number.  No other logic involved.  "Scared" to continue holding.
So yes there are those who cause crashes because they reached their number.

But we've been at 1,000 for awhile now.  No more big crashes without bad press.

[DeathAndTaxes]

There were a bunch of clueless idiots at $266 that knew absolutely nothing about Bitcoin except it goes up and it makes you rich.  The idea that it was some group of intellectual elites is kinda funny.

[TERA]

In addition to the weak/broken trend on the chart, all of the order books look like total crap, to confirm a fall is imminent. What happened? The books looked good when I looked at them earlier. Are people pulling orders?

[notmichael]

Things will look good for holidays.

I can't find the cover? Do you have an image?

[seriouscoin]

Things will look good for holidays.

I can't find the cover? Do you have an image?

If you didnt notice, this thread was started not about the cover of time magazine,

Its about bearish FUD  (calling top of the bounce)

Then the OP bought coins and now he want to cover up his bearish ass to make bullish FUD.

The only thing on the cover here is his ass.... sorry

[Akka]

Reading that Title I really was exited for a moment. 

I really start to consider ignoring the whole speculation board. Let's see how long the 0.1% of threads that are still worthwhile reading in here keep me from doing it.

[chrsjrcj]

If you really want to call it that:

[adpinbr]

see you at $4,000

Didn't "someone" just buy a Lambo with BTC.  That "someone" must not think we'll see $4000 that soon.  

Sometimes you just have to rebalance your portfolio.

i needed to adjust that before the end of the tax year. im still long crypto, that lambo was not even a dent in my stack.

I dont get if this is a joke or if you really bougth a lambo?

[CoinCidental]

see you at $4,000

Didn't "someone" just buy a Lambo with BTC.  That "someone" must not think we'll see $4000 that soon.   

maybe it was a drop from someones ocean
im sure plenty of people could buy a $100k car  with just a small fraction of their total  coins

[doctorex]

Who is carl icahn?

[chrsjrcj]

Who is carl icahn?

Apple's version of Max Keiser. He has nothing to do with Bitcoin. The only Bitcoin thing is the little headline on the top left corner of the cover.

[ElectricMucus]

Why title change? Trolling?

This and, this kind of high impact media are correlated with bubble pops, don't you remember how we were joking about that happening two years ago and what would happen afterwards?
As I did read that happend with the dotcom bubble as well as the real estate bubble, oh well...